Need Accounting Software with Commissions for Recruiting Boutique

We're a small boutique recruiting firm with 6 recruiters.

We use Bullhorn for our recruiting software.

Any suggestions on accounting software.

I was thinking of Quickbooks, which is reasonably priced, but to get the functionality of paying split commissions of differing amounts to two recruiters for an invoice I was told I would need a customized Add-In solution from QCommissions which would cost $2000 to implement.

Any other thoughts?

▶ Reply to This

Replies to This Discussion

Permalink Reply by Sandra McCartt on June 2, 2011 at 12:51am

Quickbooks or quicken will do anything you need for an accounting program. Splitting a commission is simply doing the math and making an accounting entry. If you pay on the basis of cash in, when you enter the deposit on your program you code it as fees received then split the detail just as you would when you pay a credit card bill and split th accounts the expenses go to. At the end of the month you print out the deposit report which will give the total amount due each recruiter monthly. Your accountant can show you in about ten minutes how to do it.

Quicken or quickbooks are very user friendly. You enter deposits ,write payable checks click reports you want monthly and annually the program does the rest. The biggest mistake a small firm can make is to try and use sophisticated accounting programs when you don't need them.

▶ Reply

Permalink Reply by Albert BLT on June 2, 2011 at 3:07pm

Thanks so much.

I was hoping for some sort of automation, macros, etc, so when the invoice is paid, the payable for the commission is generated with the coding for the placement detail.

I do do this now, with quicken but it does not have the "Checks/ Balances" built in and leaves too much room for errors by forgetting a step or calculational mistakes.

I guess quickbooks is the right step. At least it will tie my Invoicing and A/R to my checking account and give me receivables and sales reports which I don't have now.

▶ Reply

Permalink Reply by Sandra McCartt on June 2, 2011 at 3:20pm

there are some that promise to do what you want done. They are a lot more expensive and more difficult to use. I have talked to a lot of attorneys and small business owners who thought they were getting all the bells sirens and whistles with billing programs and payroll programs etc. etc. that automatically broke all that out then discovered that the margin for error and ending up with a bunch of numbers that were not right in any catagory cost them more money to have somebody try and audit it and fix it that they would have been better off with a couple of manual steps of simple math.

If a company has 30 recruiters and does a large volume then a sophistiacated program is needed but you also need a full time person to do the bookkeeping and accounting and they better know what they are doing accoutning wise even if they are trained on the program, if they don't understand accounting they don't know what they did if they make a mistake or how to find it.