As agencies become known in their chosen niche for outstanding client support, the associated rapid growth and steep learning curves are full of rewarding challenges. One of those challenges is practising good financial management to maximize profitability.
Unfortunately, most agency teams report that good financial management can be tough to achieve. Deadlines move, project scope changes mid-flight, contractors increase their rates, employees quit, third-party creatives change their payment terms, freelancers make costly mistakes and clients forget to pay invoices.
Each of these dynamics of everyday agency life has financial implications for the business. Agencies without agency management software that is nimble enough to accommodate these financial realities are putting their profitability at risk.
The role of financial management
Financial management in the agency world means having the ability to see, plan, organize, direct and control all financial activities across the entire business. Just about every part of an agency is either earning revenue or incurring expense, so the ability to quickly, easily and accurately capture, track and automate all those transactions is critical for effective financial management.
The biggest step agencies can take towards streamlining financial management is to integrate their agency management software with a mainstream online accounting solution, such as QuickBooks.
How Function Point’s QuickBooks integration streamlines financial management for agencies
QuickBooks is an on-premise and cloud-based accounting application that accepts business payments, pays bills and manages payroll functions. Designed primarily to meet the needs of small and medium-sized businesses, QuickBooks is widely used by agencies around the world.
Function Point chose to integrate our cloud-based agency management software with QuickBooks because this combination delivers a complete and affordable accounting package for agencies without adding layers of infrastructure complexity.
With Function Point’s QuickBooks integration, which includes Quickbooks desktop integration, you don’t need to be an accountant to achieve healthy financial management at your agency and you don’t need to set aside hours each month to balance the books. Off the shelf, the Function Point Quickbooks integration lets agencies prepare invoices, manage expenses and track payments easily.
Key benefits for agencies
Fast, easy and cost-effective to deploy, Function Point’s QuickBooks integration lets agencies:
- never miss billing any expenses ever again, no matter how small
- process invoices in batches or individually in seconds
- avoid double entry for invoices and vendor bills
- use flexible invoicing options for both time and materials and fixed-fee billing
- have peace of mind that you’ll meet accounting standards
- reduce training time for new staff because QuickBooks is a respected accounting software brand widely used in the agency world.
Integrating QuickBooks with agency management software also unlocks a wealth of reporting benefits for agencies. Connecting agency management software with your accounting package gives agencies the visibility to better understand profitability at a glance by project, campaign, client or even the overall business. Financial reporting can be prepared in minutes, including estimates and actuals, for every job and project. Real-time monitoring of every agency expense becomes an easy task. The additional ability to apply customizable rates to timesheets helps you understand the cost of down time to the minute.
If your agency is already using the QuickBooks accounting package, integrating Function Point’s agency management software will unlock many additional benefits that come with software designed specifically for creative agencies, while maintaining and streamlining your accounting practices.
See our QuickBooks integration in action
Function Point’s all-in-one agency management software incorporates practical, effective financial functionality straight out of the box. Our QuickBooks integration, including Quickbooks desktop integration, supports financial management for agencies, quickly and easily without the complexity or cost of other solutions. This all-in-one offer helps you get the best out of your agency infrastructure. See our QuickBooks integration in action by requesting a demo.