Service companies need an effective system for accounts to keep track of their finances. With accounting software for the service industry, accountants are given optimized software suited for their industry that helps them manage their company’s finances. Here are some of the best accounting software for the service industry available right now.


18+ Accounting Software for Service Industry

1. MyBillBook

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Rating: 5/5

Price: Custom

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2. Vyapar

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Rating: 5/5

Price: FREE

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3. Oracle NetSuite ERP

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Rating: 4.8/5

Price: Custom

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4. TallyPrime

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Rating: 4.7/5

Price: Custom

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5. AlignBooks

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Rating: 5/5

Price: FREE

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6. ProfitBooks

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Rating: 5/5

Price: FREE

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7. MARG ERP 9+ Accounting

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Rating: 5/5

Price: Custom

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8. Horizon ERP

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Rating: 4.7/5

Price: Custom

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9. SANIIRO

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Rating: 5/5

Price: Custom

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10. Saral Accounts

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Rating: 4.8/5

Price: $56.45/month

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11. LOGIC Account

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Rating: 5/5

Price: Custom

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12. Zipbooks

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Rating: 4.8/5

Price: FREE

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13. Xero

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Rating: 5/5

Price: FREE

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14. Gaurilla

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Rating: 5/5

Price: Custom

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15. EAMbrace Asset Management

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Rating: 5/5

Price: FREE

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16. Online Check Writer

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Rating: 5/5

Price: Custom

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17. Oracle NetSuite CRM

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Rating: 4.9/5

Price: Custom

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18. QuickBooks

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Price: $12.50/month

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19. LEAD ERP

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Rating: 5/5

Price: Custom

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What Is Accounting Software for Service Industry?

Accounting software for the service industry is specialized accounting software for service companies that helps them manage their finances. This special kind of accounting systems software helps companies to streamline and automate their financial management activities.

Benefits

Accounting software for the service industry can help service companies increase efficiency in their operations for an accurate reading of their financial records thanks to the software’s automated and streamlining capabilities. The software can also help service companies to automate certain tasks such as invoicing and reconciliation of financial records. The accounting software also helps simplify the complexities of managing accounting books, which can help accountants reduce the burden of performing redundant tasks related to accounting. Additionally, this kind of construction accounting software is specialized to work for service industries, generating specific solutions applicable to the service industry.

Features

Accounting software for the service industry should help accountants to manage their company’s ledger and accounting books. The software should also be able to automate the account receivable and invoicing process. The software should also automate the payable workflow activities in the payment process. The bookkeeping software should also allow users to create and manage journal entries of financial records to enable accounts to adjust the financial transaction records. The software should also provide tracking capabilities when it comes to cost, revenue, and profitability. The payroll software should also be able to manage the financial sources of the company such as cash, bank accounts, and payment methods. The software should also be able to assist accountants with financial close software capabilities to help them process finances at the end of every accounting period. The online accountant software should be able to generate reports on financial statements to help companies track financial KPIs. Most importantly, the features that come with this online payroll software should be optimized for use by service industries and companies.

  • Manage company ledger and accounting books
  • Automate account receivable and invoicing
  • Automate payable workflows
  • Manage financial journal entries
  • Track cost, revenue, and profitability
  • Manage company financial sources
  • Financial close capabilities
  • Generate financial reports
  • Optimized for use by service companies

Top 10 Accounting Software for Service Industry

1. Online Check Writer

Online Check Writer provides a modern B2B payment software that has smart vendor and invoice management capabilities that help accounts keep track of company payments. Online Check Writer is owned and operated by CheckWriter, which the parent company has 63 employees and earns a revenue of $12 million.

2. QuickBooks

QuickBooks helps businesses, especially service companies, with its GST accounting software that helps accounts manage their finances easily. QuickBooks has 7,000 employees and earns a revenue of $1 billion.

3. Gaurilla

Gaurilla provides accounting software that specializes in the delivery of services for freelancers and small businesses. Gaurilla has 597 employees and earns annual revenue of $86.6 million.

4. Vyapar

Vyapar provides GST billing software for small service companies to manage their business effectively with its billing investor and accounting capabilities. Vyapar has 102 employees and earns annual revenue of $21.4 million.

5. MyBillBook

MyBillBook provides simple GST billing software for service businesses that can impress customers thanks to its powerful and professional invoice capabilities. MyBillBook has 67 employees and earns a revenue of $13 million.

6. EAMbrace Asset Management

EAMbrace Asset Management provides enterprise software that helps accountants manage finances both on-premises and on the cloud. EAMbrace has 78 employees and earns annual revenue of $11.3 million.

7. Saral Accounts

Saral Accounts helps service companies with its GST-compliant accounting and billing software that helps their accountants to manage their finances effectively. Saral has around 25 employees and earns a revenue of around $5 million.

8. ProfitBooks

ProfitBooks provides accounting software that helps service companies to manage their money with little accounting knowledge required. ProfitBooks has 23 employees and earns annual revenue of $3 million.

9. Zipbooks

Zipbooks provides service companies with simple accounting software that contains smart features for accountants to use for maximum efficiency. Zipbooks has 10 employees and earns annual revenue of $2.1 million.

10. Horizon ERP

Horizon ERP provides service companies with billing and accounting software that contains GST billing and filing, accounting, and inventory software capabilities. Horizon Technology Solutions has 7 employees and earns annual revenue of $1 million.

FAQ

What other software integrates with accounting software for the service industry?

Accounting software for the service industry often integrates with business ERP software as well as other specialized accounting software capabilities such as budgeting software, forecasting software, and AP automation software as they help store company financial information like most generalized accounting software. The software also integrates with payment processing software and banking software.

Can service companies of all sizes use accounting software for the service industry?

Yes. All service companies regardless of size can use accounting software for the service industry. However, depending on the scale of the company, the software may contain specific features such as payroll processing, bill and expense management, and more.

How much does accounting software for the service industry cost?

Pricing for accounting software for the service industry can range from free to $56.45 per month or more, with custom pricing available for some software. Pricing for accounting software for the service industry varies depending on the features available and the intended companies. Small companies may benefit from low-cost accounting software for the service industry while large companies may benefit from high-cost accounting software for the service industry.


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