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AcctTwo Blog

Home Service Software: Avoid the Growing Pains

Home services providers can become victims of their own success if they’re not prepared to scale important processes and home service software to match growth. Hiring more technicians and buying additional equipment are the obvious steps. Less obvious but equally important is scaling the accounting function, including the technology it relies on. Small degrees of growth can translate into drastically larger, faster, and more complex accounting obligations. And if a home services CFO and their team can’t meet those obligations, it creates countless liabilities that make success less sustainable and financial disaster more likely.  

Topics: General home services industry

Home Service Software Trends: The Future is Bright for the Industry

The home services industry has arrived at a transformational moment. It sits at the confluence of major forces – the pandemic, a revolution in digital technology, shifting weather patterns, evolving social attitudes – that are changing how we occupy our homes. Coming years will see massive growth in the home services industry, along with equal disruption.

The team at AcctTwo has been closely involved with the leading home service software for years. We thought this was an opportune moment to explore the biggest issues affecting plumbing companies, HVAC contractors, home security installers and countless others, particularly from the perspective of the home services CFO. Anyone invested in this industry needs to be aware of what lies ahead – but especially the executives at the helm of accounting and finance. Why? Because the biggest changes and challenges apply to them.

Topics: General ServiceTitan home services industry

Home Services Fall 2021 Release Update

We are proud to announce AcctTwo’s Home Services Module 2021 Fall release. In this release we've added new features that provide additional reporting functionality, and deposit details. This release also adds the ability to have other receipts transactions flow into the deposit manager. Additionally you can now import open items from undeposited funds that existed before Deposit Manger was installed and processing transactions. This release also includes the option to AP Payments from the refund manager into the outbox instead of processing them immediately.

In addition to these new functionalities, we have added some safeguards to prevent a couple common process issues we have seen occur when a user needs to reverse a deposit.

Topics: home services industry

Home Service Industry Trends: Optimizing Finance Technology

At AcctTwo, we curate, integrate, and optimize the ideal technology stack for finance and accounting departments at midsize organizations. We do this through an industry lens and one of the key industries we focus on is the growing Home Services industry, which constitutes businesses whose main purpose is working on residential homes, though some of these also take on commercial business. This includes plumbing, HVAC, flooring, landscaping, concrete, moving and storage services, and more.

We’re seeing a growing home service industry trends where Private Equity-backed companies, or “platforms,” are consolidating local and regional Home Services businesses, keeping their business names, and making minimal changes to their staffs, but making major improvements in their technology and processes.

Topics: General ServiceTitan FloQast private equity home services industry