Accounting for interior designers isn’t always an easy task. There are usually many transactions happening dailyand they need to be recorded on a regular basis. With so much going on in a busy office, it can be a challenge to keep everything up to date and organized without the right systems in place. Here are a few of our top tips for making things a little easier overall.
Name a Point Person
There’s a real value in having a person who is in charge of keeping things on track. Let this person help develop procedures for keeping the books up to date in all areas. With procedures in place, the point person can be in charge of taking on work, delegating, and keeping everyone who is involved accountable. Where do staff go with questions? The point person can answer questions for new staff, reassess workloads when necessary, and most importantly, will always have the big picture in mind so crucial deadlines are not missed and information is available when it’s needed.
Invest in a Trusted Accountant
What a difference it makes to have great advice from a trusted advisor as you build, grow, and maintain your business. Find an accountant who understands the design industry and who is open to talking with you about your goals. Ask for assistance in figuring out what financial information you should have on hand in order to efficiently achieve those goals.
It’s difficult to even set targets if you don’t know where you stand financially!Get on track with the help of a good accountant and never look back. Not sure where to find someone? Ask us—we can provide recommendations!
Collect Payments Online
Revamp your collections procedure with the latest technology! Collecting payments from clients has advantages to both you and your client. The client has only to click a link and make a payment that takes seconds. You then get paid faster, spend less time following up on invoices, make fewer trips to the bank, enjoy automated accounting within your software, and look stylish doing it!Both parties can enjoy the simplicity and fun of so quickly paying and receiving funds for an invoice.
Find a Way To Make Accounting Tasks Fun
Not many people enjoy the work that comes with accounting for interior designers and monitoring the financial side of the business. Maybe there’s a way to look forward to these tasks so procrastination doesn’t creep in. What motivates you? Set goals and follow up with rewards that will entice success.
Big or small, incentives often work in helping to achieve goals. Offer rewards to staff who keep time entries up to date, have a staff lunch on financial review days, treat yourself to something special when you achieve a certain goal, update something cool in the office for staff when goals are met, etc. The possibilities are endless and rewards don’t have to be big. Give people a chance to achieve and be rewarded–it’ll pay off.
Find The Right Software For You
With a number of options available to you, it can be a challenge to figure out which accounting software for interior designers will be the best for your business. For such an important decision, it’s imperative that you do your research and talk to the companies offering the software. What’s included? What’s notincluded? Think about what your biggest challenges currently are and find out if the software can help streamline these areas.
Consider the big picture, and if you’re looking to grow, make sure you choose a software that can grow with you. Do you know how to use accounting software, and do you want your accounting in a separate software? Probably not, given the reporting visibility and time-savings that come with integrated accounting. Talk to your salesperson and let them help you understand how their software will benefit you specifically.