CRM for Accounting Firms

Accounting Ledger

CRMs for accounting firms and businesses report accounting transactions, contracts, or deals. It also caters to the companies’ accounts payable, accounts receivable, payroll, and trial balance.

Accounting features are often traditionally found in ERP (Enterprise Resource Planning) software, but as ERP and CRM systems evolve, in many cases they have been merged into one system, and in other cases they remain separate but integrated.

A united system can help reduce bookkeeping mistakes, reduce paperwork, and automate process, which can translate into happier clients and cost savings.

Top CRM Systems for Accounting Firms


Yendo offer a Cloud CRM and Cloud Accounting software with features such as full bookkeeping and budgeting as well as accounting reports.

Open Systems Inc

Open Systems Inc ( has been around for 35 years and offers ERP, accounting software, and CRM that can all be fully integrated.

Method CRM

Method CRM ( focuses on integration with Quickbooks. It offers two editions…

  • Method CRM Pro
  • Metho CRM


xTuple ( is an open source ERP including Accounts Receivable, General Ledger,
Financial Reporting, and more including CRM features. It comes in 4 editions…

  • Postbooks
  • Distribution
  • Manufacturing
  • Enterprise

How can CRM help accounting firms and business owners?

BillingBusinesses, companies, and corporations are not only upgrading their CRM systems but their accounting systems as well.

Many CRM systems actually allow for app integration with financial software such as with Intuit’s QuickBooks. Programs like QuickBooks allow you to track payroll, sales tax and more.

Integrating with such software can help you streamline and organize the process of record keeping and expense tracking.

Accounting CRMs have numerous benefits.

  • Ability to track accounts closing monthly, quarterly, semi-annual, and annual closing.
  • Generate a trail balance
  • Make adjustments for accrued expenses and liabilities
  • Make adjustments for earned incomes
  • Make provisions for deprecation
  • Manage bad debts
  • Amortization and other related items
  • Prepare financial statements and final accounts
  • Manage profit & loss
  • Manage balance sheets
  • Generate cash flow statements
  • Generate equity statements
  • Book incomes and expenses from bank statements and receipts & vouchers

Business Planning

Accounting services provide these types of services to be able to establish the business.

  • Setting up office procedure system
  • Developing service rules
  • Setting up managerial authority and accountability
  • Procedure for duplication of process and elimination of unproductive and unnecessary processes
  • Setting effective reporting channels
  • Managing client business
  • Representing client to its bankers
  • Setting up managerial targets and goals
  • Attending management and board meetings with clients/customers and vendors and its employees


Track your ledger. A ledger book normally has three regions. First is the sales ledger, second is the purchase ledger, and third is the general ledger. All transactions are documented and recorded in the sales ledger and any acquisition or purchase is recorded in the purchase ledger. These two ledgers also reveal which is the buyer’s payment and which is the supplier’s payment. Also recorded is any outstanding balance or amounts to be paid by the company.

Accounts Payable and Receivable

Track expenses. Accounts payable refers to the accounts that will be paid by the company or the so-called out going accounts. These are expenses due to operating costs like paying third party providers and expenses before the business functions.

Accounts receivable, on the other hand, is the opposite of accounts payable. These are the companies’ earnings and wages.


Payroll must compensate workers, staff, or employees for the services that they have delivered during a certain span of time.

Payroll tasks include maintaining payroll data, employees’ information, salary information, bonuses, tax table, running payroll periodically, printing and mailing the paychecks and pay stubs, and depositing federal and state tax deposits.

Companies that use on computers to “log in and log out” employee time can automate payroll calculations.  Then, automated processes can generate payroll on consistent intervals to make sure that their employees, staff or personnel are compensated with regularity and frequency. Most companies provide a bi-monthly 15th and 30th payroll.

If there are disputes, employees can file a report about it and they can check their pay slips to validate if their salary is correct or accurate.

Payroll does also involve preparing quarterly tax returns, preparing W2/1099 for all employees, mailing and preparing annual payroll tax returns, reporting wage information to state and social security administration, and generating payroll reports for client information.

Tax Returns

If you are running any size business and you’re making a profit by making your own goods or buying and reselling goods, this is taxable income and it’s best to understand your taxes and report them to the IRS.

Preparing and filing tax returns is a very difficult and tiring job to do because there are a lot of things that you must consider and know about 1040: individual tax returns, 1040NR- individual (non-resident) tax return, 1020-corporation tax returns, 1120-S corporation “S”, Tax returns,1065-partnership/LLC tax returns,1041-estate and fiduciary tax return,990- non-profit tax returns

  • Maintain Records: In order to track expenses you need to keep all of your receipts and invoices. Also keep your credit card statements and receipts. Keep all of these papers and documents for seven years in case of an audit.
  • Track Expenses: You need to be able add up your costs including client meetings, gasoline, office supplies, insurance, etc. Don’t forget to track your payroll if you have one!

Sales Tax

Most business have to deal with sales tax, a local tax on sale of products or services, according to the percentage of sales price.

The sales amount without the sales taxes may be entered in the sales revenue account. The sales taxes are then credited to the account of sales taxes payable.

However, often companies do not segregate or do not separate sales taxes from the sales revenues during the time of the sale or purchase. In this case, the sales tax is just deducted from the entire sum amount of the sales revenues or the so-called total sales. To be able to transfer or shift the sales taxes from the sales revenue account, the establishments debit or deduct the sales revenue account and then credit or add the sales taxes payable account.

The taxes differ not only with the price but also with the mode of payment and the state where it is sold. You as the owner need to recognize how much percentage must be placed under the revenue and what amount must be placed under the payables.

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