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Simplify end of financial year for your field service clients

April 13, 2021

No matter how you feel about the financial end of year, it’s vital that you gather clients’ financial information to get a clear picture of business performance over the past year and help them set strong goals for the future.

Like most businesses, your field service clients will need to look at their profit and loss reports, bank statements, payroll reports, tax documents and more. Compiling all of these documents can be a challenge, given that field service businesses often work in disparate systems and may be using outdated methods (like spreadsheets) to track work. This makes it difficult for the business to present financial information to their accountant. Luckily, there’s a better way.

Keep reading to discover how simPRO’s cloud-based job management software can help you and your clients share financial information easier and prepare for the end of the financial year in no time.

Become a simPRO partner for a smoother financial end of year

As you work to help your field service clients manage their finances and make data-driven business decisions, it’s essential to ensure that they have the right field service management software in place to stay organized month-to-month.

A great field service management solution helps your clients efficiently manage jobs, projects, and maintenance contracts, as well as keep track of all administrative processes and financials year-round.

From initial request for a job to final invoicing, with simPRO, your clients can streamline workflows, automate processes, connect the office to the field and gain essential business insights.

By becoming a simPRO Accounting Partner, you’ll gain access to valuable reports to prepare for the end of the financial year. You’ll also further build trust and credibility with your field service clients, enhance your customer base and become a trusted field service accountancy expert.

Most importantly, simPRO acts as a single source of truth by which you and your client can accurately measure financial health and make key business decisions for the upcoming year. All from one holistic view.

Quickly gather and organize all financial records from one place

Paper-based invoicing and statements from suppliers and accounts are easy to lose track of. simPRO eliminates paper-based payments with interconnectivity between simPRO and leading accounting software.

This means that clients can send invoices directly through their accounting system, making it easier for them to collect payment and easier for you to access payment records, all from one place. You also reduce your time spent cross-referencing financial transactions and reconciling accounts.

Day-to-day, your clients can transfer customer and supplier information, track supplier and contractor invoices, and make payments quickly, all syncing directly to their accounting package.

This means that your clients get a real-time view of business cash flow, setting them up for success. They can avoid any surprises and quickly know how and where to find the records needed to gather so you can prepare profit and loss reports or tax statements.

Cloud-based field service management software like simPRO also helps your clients say goodbye to duplicate data entry via data automation. With workflow triggers and automated actions, clients get more accurate data resulting in fewer redundancies at the end of the financial year for you to sort out.

simPRO also features Square integration. This helps limit the number of unpaid invoices you, the accountant, need to chase in the lead up to the end of the financial year, and you can easily prepare their tax returns with all of the year’s cash flow data in one central place.

One tool to keep track of stock

simPRO’s inventory management software gives your clients greater visibility over the materials they have in stock and their location. They can easily assign items to jobs, manage storage locations and generate reports, including a stock take. simPRO software also provides accurate stock value, which leads to more accurate counts.

Your clients can also plan what inventory they might need to replace or repurchase, which you can then build into financial planning for the following year.

No more headaches during financial year end with simPRO

With simPRO and your expert advice as their accountant, you can complete end of financial year reporting efficiently, and before they know it, your clients will be ready for the exciting task of planning for next year.

Would you like to learn more about the simPRO Partner Program? Find out more and sign up to the program on our Partner Program page.

Article originally published in XU Magazine Issue 26 on 1st March 2021.

Mat Wray

Author - Mat Wray

Global Head of Partnerships

Since joining simPRO in 2015, Mat has established strong connections with many strategic accountants, business advisors and cloud software integrators. simPRO recently named Mat Wray Global Head of Partnerships as it continues to expand its new Partner Program. Learn more about Mat Wray and the Partner Program here.

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