Set Up Accounts

Overview

Simpro Premium is not an accounting software package, however it features the ability to link with your existing accounting package to keep your financial data accurate and reduce administration time.

To integrate with your accounting package, you first need to set up your financial information in Simpro Premium. This ensures that data exported from Simpro Premium is posted correctly in the chart of accounts in your accounting package.

Chart of accounts

Create all your income and expense accounts in Simpro Premium.

Learn more in How to Set up Chart of Accounts.

Cost centres

Cost centres are a key Simpro Premium feature, as they are used to group labour and material income and expenses in quotes and jobs. Essentially, they allow you to separate the different kinds of services your business provides so you can see profit and loss in each cost centre you have specified.

One useful way to figure out what your cost centres should be is to consider the services you advertise to your customers. For example, you could have one cost centre for installation work and one for maintenance work.

You can also refer to your existing chart of accounts to examine how you report on income and expenses in your accounting package, as each cost centre you create in Simpro Premium needs to be linked to an income and expense account in the package.

Learn more in How to Use Cost Centres.

Business groups

Business groups are used to group cost centres together. You can then choose which employees have access to which cost centres, so that your staff are assigned to the appropriate areas of your business.

Learn more in How to Use Business Groups.

Tax codes

Setting up your tax codes is critical for correct tax reporting in both Simpro Premium and your accounting package. Tax codes in Simpro Premium should be set up to match the tax codes you use in your accounting package for job-related income and expenses.

Learn more in How to Use Tax Codes.

Payment methods

Update your payment methods to include all of the payment options you accept from your customers.

For credit card payments, you can set up Simpro Premium Payments to accept payments over the phone, online, or have technicians in the field accept payments using Simpro Mobile.

Learn more in How to Use Simpro Payments - NZ only.

Payment terms

Create new payment terms based on specific requirements for each customer. You can then access a wider selection of more specific payment terms in Simpro Premium tailored for your different business needs.

Learn more in How to Set Payment terms.

Financial defaults

This is where you enter the default income and expense accounts that your business uses. Consult your chart of accounts to ensure the account names / numbers are correct.

You can also set up invoicing defaults to be applied throughout the system, along with account tracking, multiple currencies, and if you are a solar company in Australia, STCs / VEECs.

Learn more in How to Set Up Financial Defaults.

Accounts integration

After you have set up the above features, you can start integrating your accounting package with Simpro Premium. Different accounting packages have slightly different setup requirements.

Learn more in Accounting Link.

Accruals and deferrals

If you need to accept payment upfront for work that is completed in the future, or record sales before a payment is raised, set up accruals and deferrals to ensure your income is reconciled.

Learn more in How to Set Up Accruals and Deferrals of Revenue.