Service Fees or Fees for Services are a relatively easy type of business to account for. Generally there is little inventory to account for and any inventory required is generally very easy to manage as it would be very specific to a job performed. For a Pool Service Company that provides general service and upkeep there may be a limited number of parts needed in addition to specific parts that are required for specific pool failure problems. With each service call a specific type of part may be required or no parts at all. Billing for service time, outlining the job duties for the call, and adding any parts to an invoice are relatively straightforward.
Consultants charge fees for services whether it’s an hourly, monthly, or a charge per service fee. Service companies are like consultants as they are providing a service. If your company provides services only without the sale of goods you likely don’t require a financial software package to do your annual accounting. Your expenses would be limited unless you were a large service company with employees. A one or two person service company or consulting company would require very little in the way of accounting.
As a service or consulting company you still need to get an invoice to your client. If your client comes to your office and pays before leaving a receipt for payment may be all that is require. If you are a landscaping company that works for homeowners you may only need a hand written invoice. If you are a business to business service company or consultant you will likely require a more formal type of invoice.
A financial accounting software package would likely be too much for a service or consulting business. A smaller system without all the other components required in a financial software package is all that is required. Focusing on just the specific software you need to do your invoicing will help to keep things simple. If you require software for payroll or a manufacturing process a different type of software would be needed. Consultants and service companies are not just one person operations but for those that are a simple online invoicing solution may be your best approach when it comes to invoicing your clients.