An advertising agency is simply a creative company. But, there are certain categories of advertising firms, ranging from digital marketing and advertising businesses to events and public relations firms.
Although they differ significantly, they all have one thing in common: they must optimize their bookkeeping operations.
Every agency must keep track of billable and non-billable expenditures, invoice customers, pay suppliers swiftly, and manage payroll obligations.
Thankfully, with technological advancements, numerous accounting tools and programs may expedite your bookkeeping procedures, saving your advertising agency’s time, money and energy.
Why Is It Important to Keep Track of Advertising Agencies and Media?
A marketing agency is dependent on the services it sells, but it must be more rigorous in managing its accounts, budgets, and cash flow.
As a result, accounting is necessary for all parts of a marketing business, including advertising, branding, and financial statement creation.
The apparent option is to use accountants’ or auditors’ software to manage the marketing agency’s finances or delegate the entire procedure and supporting documents to an accountant.
Therefore, the marketing agency can concentrate more on branding and advertising.
Here are the 15 best accounting software and solutions for marketing businesses.
1. FreshBooks ($15-$105 & Quotation Based Per Month)
FreshBooks is cloud-based built-in accounting software that targets advertising agencies and media. This software automates payment acceptance, professional invoice generation, expenditure tracking, and financial reporting. Moreover, the software provides a number of features that are ideal for small merchants looking to expand their operations.
Additionally, the software includes every company’s fundamental accounting features, such as invoicing, time-tracking, payment process, reporting, and tax compliance.
It also provides a full reporting function with common reports, including profit and loss statements and expenditure reports.
- Allow media firm’s customers to submit recurring bills
- Creates P&Ls
- Templates and invoices are customizable
- Allow for the submission of recurring bills
- Time management services are offered
- Both desktop and mobile apps are available for download.
- Exceptional invoicing software
- Relatively low in cost subscription
- Top-notch cell phone applications
- Incredible UX and UI
- Generates thorough reporting.
- Additional fees are required for multiple users
- No billing features.
2. QuickBooks Online ($22 – $140 Per Month)
QuickBooks Online (QBO) is cloud-based accounting software that can help you with routine bookkeeping activities, including cost tracking, sales tax reporting, and bank reconciliations.
Moreover, it can automatically generate invoices, send them to clients via email, remind your clients about the pending invoice, and track pending bills and bad debts for your advertising and media business.
QBO built-in project features assist users in preparing the expense, invoices, quotes, general transactions, and amount of time needed in each marketing project.
This will enable your agency to handle all financial components of your projects on a consolidated system.
- Accounts payables & receivables
- Automatic billing & invoicing
- Customizable reports for media firms
- Branding and advertising activity dashboard management
- Have mobile and desktop app
- Work seamlessly with receipts and payments
- Customize posting rules
- Generate valuable reports
- Easy-to-use payroll statements for both employer and employee
- Configuring each item in the application could be overwhelming
- Need a slight learning curve.
3. Expensify (Free – $9 Per Month)
Expensify is a great accounting tool for advertising and media agencies to file customer invoices and be paid, automating and accelerating the expense workflow.
This cloud-based app employs SmartScan technology, allowing customers to take pics of their receipts with their phones. The system stores and publishes all vital data electronically without preserving the printed copies of receipts.
Your staff will no longer have to waste time completing expense claims, while you will get full transparency into your cash flow spending, saving them time and aggravation of chasing down employees for their spending.
- Activity, cost & approval process control for advertising agencies
- Billing, invoicing & audit trail
- Data import & export
- Dashboard management for your business activities
- Mobile receipt upload for multi-currency
- Desktop and mobile-friendly
- Well-designed and user-friendly
- Not many extraneous complexities
- Easy to use for everyone, from senior sales executives to marketing coordinators.
- The corporate card interfaces may need a little help with the bank feed
- Lack some of the more advanced customizations
- Appeared to be easier to install, cheaper, and more stable in the past
4. Dext Prepare (Quotation Based)
Dext Prepare is employed by cloud-based OCR technology. Each advertising project’s transaction will be coded to the appropriate account and exported directly to your accounting program.
Using Dext Prepare will save a lot of time and eliminate the need to store any physical papers because everything is saved on the cloud. Therefore, your bookkeeping process will become more efficient and effective.
This accounting software is also integrated with Xero and QuickBooks Online.
- General ledger, receipt & expense tracking
- Accounting, budgeting & forecasting
- Payroll administration over your advertising agency’s employees
- Management & financial reporting
- Have desktop and mobile app
- The UI is easy to use
- Its OCR is extremely accurate. When making modifications, the OCR seemed to learn to read different vendors’ invoices flawlessly.
- Supportive customer service
- Pricing is clear and affordable. It’s perfect for advertising and media agencies.
- OCR processing time is longer than we’d like it to be.
- Departmental expenditure management would be made easier with several approval processes.
5. Plooto ($25 Per Month)
Plooto is a cloud payment platform to simplify your advertising and media agency’s payables procedure. The application deals with more than printing and shipping costs.
While checks might take a long time to create and deliver, Plooto will solve this issue completely. This tool may interface with QuickBooks Online or Xero to determine which bills must be paid and when.
You may then configure approval procedures such that Plooto sends an email to the approver inviting them to accept the invoice and pay it via Automated Clearing House (ACH) or Electronic Funds Transfer (EFT) payments.
- ACH & EFT payment processing
- Approval process control for the advertising firm
- Billing, invoicing, check & cash management
- Secure customer database
- Multi-period recurring payment reports
- Have a mobile app.
- Accept debit or credit card payments
- Can execute pre-authorized debits and credit receivables presently exists in both US and Canadian currency
- Take less time to clear your bank account.
- More international payments needed
- Should have more saving options for large payments to the United States.
- No desktop app.
6. Sage Business Cloud Accounting (Quotation Based)
Sage is a cloud-based accounting solution for small businesses, allowing you to access your most critical financial information from any device at any time.
Sage Intacct offers real-time and timely reports, interfaces, and infographics for advertising agencies that need quick, real-time financial data to make data-driven choices and conduct lucrative advertisements.
Indeed, your finance team will have more time to plan new initiatives, service lines, personnel, and other aspects of the business.
- Account payables & receivables
- Billing, invoicing & budgeting
- Cash management
- General ledger tracking
- Use Analysis Codes in the Project Tracker to monitor the performance of specific business units.
- Have desktop and mobile apps.
- Instant project budget report, ensuring appropriate pricing decisions.
- Easy to control advertising and media accounting as a non-accountant.
- Wonderful customer service.
- Cash flow forecasting is a little difficult.
- Should have analytics for prior years’ P&Ls and make recommendations for budgeting for the months, quarters, and year ahead.
7. Rotessa ($16 – $35 and Quotation Based)
Rotessa is a cloud-based software that facilitates the withdrawal of funds from the client bank accounts for advertising agencies and media. The platform allows Canadian and American companies to make pre-authorized debit payments.
Furthermore, it is an exceptional tool for collecting money from retainer-based customers and allows you to organize regular payments with simple receivable procedures. Additionally, you can integrate with Xero and QuickBooks for improved needs.
- Connects customers on a platform
- Simplifies receivable processes
- Authorize automatic payments for clients
- Organize schedule payments
- Support ACH and PAD payments
- Best for recurring billing
- API integration works well
- Responsive and reliable customer service
- Quickbooks and Xero integrations
- Integrated payment gateway for all enterprises.
- Deposit funds will take a few business days
- Desktops and mobile apps are not available.
8. FreeAgent ($10-$20 Per Month)
FreeAgent is accounting software that is cloud-based and designed for advertising agencies and media to operate their businesses smoothly. The platform allows users to track the business cash flow, generate invoices, report, file tax returns, and so on.
Moreover, it is loaded with features that facilitate financial management, such as internet banking integration and notifications to stay on top of invoicing. In addition, users may produce all critical reports with the click of a mouse.
- Highlights drag and drop functions
- Accounts payable and receivable are supported
- Generates and customizes invoices with professional looks for advertising agencies
- Enables management of cash flow, discount, and data collections
- Comes in flexible permissions for monitoring expenses.
- Easily keep track of revenue, spending, billing, and reports
- Regularly notify users of the payment due
- The dashboard is convenient to navigate for a better view of business
- The software is available for desktop and mobile apps.
- Exporting may be difficult
- Some functions do not include in the platform.
Xero is an established accounting cloud-based software that serves online sellers and advertising agencies. These businesses require a convenient back-end with full features of cash flow, billing, online banking, and other accounting related-features for their operations.
Furthermore, Xero’s user-friendliness is something that will contribute to retailer stores that do not have expertise in complex accounting.
Besides the straightforward interface, the software offers a comprehensive double-entry accounting tool that will give information on KPIs, such as incomes, expenses, and shipping.
- Extensions and an easy-to-use UI make this app ideal for advertising startups
- The app allows quick and easy online transactions
- Great solutions for tax compliance, fillings, and reports
- Automatically generates invoice
- Gives users immediate access to the most recent financial and transaction information
- Supports mobile apps
- Enables multiple integrations like Shopify, A2X, etc.…
- Open integrations for a wide range of purposes
- Installation and dashboard are simple for utility
- Offers financial and inventory management expertise
- Secured and great cloud-based software, allowing flexible working
- Desktop apps are not available for downloads
- Customer support could be more responsive and improved.
AccountEdge Pro is a cloud-based system that includes modules for managing all-important company processes such as payroll, account receivable, inventory management, general ledger operations, and account payable.
Accounting software like AccountEdge Pro is perfect for small businesses looking to maximize profits. Nonetheless, sellers who love a cloud-based solution will definitely like this software as well.
Furthermore, this accounting system provides reasonable pricing with a straightforward and complete accounting system, allowing all advertising agencies and media to focus on their front-end sales.
- Offers A/R, Payables, and Receivables
- Management of supply chain, invoices, and timesheets
- Enables media agencies with quick and reliable third-party integrations
- Billing recurring
- Accept numerous currencies for online payments
- Quotes cost estimates for clients.
- Inventories, time clocks, and payrolls are all integrated
- Fully supported mobile and desktop apps for better and flexible utility
- A wide range of banking options
- Robust and professional reporting
- Support multiple user accounts across departments.
- UI windows might be too simple
- Bank transactions cannot be downloaded.
Accounting Seed is a cloud-based accounting solution that was built to solve daily business operations for advertising agencies and media. Its primary goals are to expedite and streamline all back-end accounting procedures.
Accounting Seed is praised by customers from a variety of industries for being user-friendly and efficient, allowing even inexperienced users to execute their accounting responsibilities more effectively. As a result, it may be customized to meet the requirements and wants of individual customers.
- Allow advertising startups to track accounts payable, billing clients, and accept payments
- Reconcile bank
- Recognize revenue streams
- Enables users to generate comprehensive reporting
- Best UX and UI interface
- Desktop is available for downloads.
- Customizable system to meet client’s needs
- AR and AP automation for a better view of expenditure
- Improve payments and billing through time tracking
- Smooth integration that allows users to use other supported software
- The software has complete functions for scalability.
- Personalized reporting instructions should be further clarified
- The software does not support mobile apps.
AccountingSuite is an awesome cloud-based accounting program for advertising agencies and media. This accounting software has all the features an agency needs to handle client invoicing and expand its company. Advertising agencies may quickly transmit accurate information to their customers using this accounting system.
AccountingSuite is an all-inclusive accounting platform equipped with all the fundamental accounting functions that any organization requires. To top it all off, it has capabilities that other systems at a comparable price point do not.
- Employee database that covers all your agency’s staff background and information
- Automating a workflow or process.
- Budget management
- Timesheet management over your staff’s labor hours
- Appointment scheduling with your media clients
- Safer credit card processing is made possible through integration with Square.
- Excellent billing capabilities
- Pricing that is reasonable for the middle and higher levels
- The capacity to provide quality reports
- High-quality features for teamwork.
- The dashboard is cluttered and tough to navigate.
- Take time to learn to master
- No mobile and desktop apps are available.
13. Banana Accounting ( EUR 60 – EUR 129 Per Year)
Banana Accounting is a fully-featured Accounting Software designed to serve Startups, SMEs, and service providers such as advertising and media firms. Running on cloud solutions, this software works on an end-to-end technology.
If you make errors, you’ll be alerted, and you can easily alter them, so it’s simple to have excellent accounting. It is an excellent choice for any organization due to its double-entry accounting principles.
- Purchase Orders from your clients
- Generating VAT reports and invoices
- Financial Reporting for your advertising business
- Bank Reconciliation with the record
- Fund Accounting
- Payroll & Tax Management
- Member Database
- Membership Management
- Available for both desktop and mobile apps.
- Assist advertising agencies in accomplishing their long-term financial objectives.
- Entering transactions into the system is a breeze.
- All of the most popular operating systems are supported.
- The graphs make it easier to see how trends have changed over time.
- It’s simple to use the built-in features for doing repetitive activities.
- Does not permit users to compare two different banana files simultaneously.
- High fees are necessary for customers to use the software’s most advanced features.
14. Pandle (Free – £5 Per Month)
Pandle is a cloud accounting service that is simple to use, free, and very effective, specifically for advertising agencies and media. It includes interactive assistance that notifies users whether they are entering incorrect information.
The ease of use of this software makes bookkeeping simpler and more effective. It has comprehensive accounting features, such as bank feeds through direct integrations, simplified invoicing, and comprehensive reporting.
- Bank feeds that connect to your bank transaction for optimal bookkeeping accuracy.
- Built-in invoicing template to get the invoicing process in a faster manner
- Connect with Pandle Pay to simplify the billing procedure in your advertising firms
- Analytical reporting capabilities give you a closer insight into your agency’s working efficiency
- VAT software helps users to compute, fill and submit their Digital tax compliance.
- Enjoy award-winning live chat assistance
- User-friendly interface although you are new beginners
- Reports can be printed off as pdf files
- Very affordable price for a budgeted business owner
- General credit notes can’t be posted.
- Desktop and mobile applications cannot be used.
15. Kashoo ($30 Per Month)
If you own an advertising agency or a media company, Kashoo is a time-saving accounting tool that automates bookkeeping duties and works on the cloud solution.
The machine learning function helps Kashoo identify costs, reconcile them with financial records, and generate real-time reports that include all relevant information. More than that, it also provides excellent machine learning technologies and maintains transaction types.
- OCR and receipt-matching capabilities are included.
- Syncing and backing up data in real-time, and the ability to synchronize with more than 5,000 banks for simplified bank reconciliation.
- The media agency has access to reports, such as profit and loss statements and balance sheets, that help them make better decisions.
- Support for multiple currencies, including dollars, pounds, and euros.
- Apps for mobile devices are supported.
- The simplicity of the features is good for users who don’t have an accounting background.
- You may access all of Kashoo’s services for a flat fee
- Astonishing tech support
- Strong integration with payment processors.
- Doesn’t calculate VAT if you are a registered taxpayer
- Some features that competitors provide are limited
- No desktop app is available.
What qualities should we search for in software to run our marketing agency? Here are some principles to assist you in getting a better sense of how we make buying decisions.
Is it simple to master and become proficient? Does it come with any tutorials or training materials? Does the firm have a solid technical and user support system?
Make sure each user has their own unique login information. Set up various user groups with distinct rights and responsibilities.
Are there any issues with the design? Is it easy to use and present information? Is it a user interface for multiple users that allows access to the same computer?
Does it include numerous important features and functions for media planning software? How well does it work? For example:
- Project Management – This includes managing tasks for your team and clients, having project dashboards to see how things are going quickly, and making it easy to share files and work together.
- Resource Management – You should be able to quickly find the resources and expertise you need to complete jobs and projects with a breeze. Set milestones, deadlines, and relationships between jobs with the help of scheduling capabilities.
Is it simple to integrate with other applications? Are there any pre-existing integrations?
Value for Money
To what extent is the purchase price compatible with the product’s attributes? It’s important to make sure that pricing is both fair and flexible.