Help with Accounts in Simpro

Account settings are probably the single most important element of using Simpro, particularly for financial performance reporting and integrating it with your accounting package.

Chart of Accounts

Simpro uses the Chart of Accounts tab to assign accounts to various income and expense accounts. This should be reviewed to ensure that management is able to break down their direct costs into reporting pillars or groups that are easy to understand.

It’s a good idea to chat with your bookkeeper or accountant when setting these up as they will be critical to getting your desired reporting from Simpro and your accounting software.

Cost Centres

Cost Centres are at the heart of accounts in Simpro as they link every item of Labour, Material and Job within Simpro.

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.

Business Groups

Business Groups are the highest level of reporting within Simpro, which collates groups of cost centres into divisions for reporting purposes. If set up correctly, they can also link to track in Xero accounting software, allowing for divisional breakdown within Xero of income and direct costs in individual and comparative P&L reports.

When coupled with Xero Tracking, Business Groups need to have unique cost centres under each business group to ensure the income and expenses of the cost centre are uniquely identifiable.

Tax Codes

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