Do not make a purchase without looking for this key feature.
If you are in the market for automated accounting software, it is easy to get overwhelmed by the many available options.
While at first glance, the options you are considering may all appear to offer the same functionality, there are subtle differences.
What we have found is that most automated accounting solutions leave out one essential feature.
The key feature most automated accounting software leaves out.
If your MSP customers are on a monthly recurring billing schedule, you will probably want to set them up with automatic bank transfers.
Auto-draft enables you to set up your client’s payment schedule one time, and have their monthly recurring charges automatically withdrawn and transferred to your account each month.
Not only is this function a huge time saver, it’s one of the biggest benefits of automated payment processing.
What is missing from most automated accounting solutions is that they do not attach your client’s recurring monthly charges to the appropriate invoice.
Without this benefit, your MSP will waste time reconciling payment transactions.
This means that when you get your monthly accounting report, you will have to manually reconcile each automatic transaction with the invoice it belongs to.
What your MSP needs is a solution that fully integrates with QuickBooks, Great Plains, or whatever accounting software you use.
Make certain that the solution you choose will automatically generate a report for you with each transaction tied to the appropriate invoice.
This may seem like a simple feature, but it will save an enormous amount of time each month… time that could be better spent helping you grow your IT business.
Watch this video on how this one critical item will help save your MSP loads of time.
Want an automated recurring billing solution that truly does it all?
Download this brand new e-book, for free, for guidance on how to completely automate your organization’s payment processing.
Leave a comment below, as well, and tell us some of the struggles you’ve had around this topic and how your MSP has solved them. (or not solved them)
