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What’s a call accounting software? We’re about to break that down for you by focusing on features that make it different from other business accounting applications.
In short, call accounting might be called the accounting of the phone; from setup and operating expenses to toll fraud detection, a call accounting software records, compiles, and presents the business of your phones from an accounting point of view. The interpretation of this data is, of course, left to you.
The Features of a Call Accounting Software
- Phone System Setup and Operating Expenses: This is pretty self-explanatory. The program will calculate amortization of capital expenses of the phone system setup, as well as giving detailed reports on its ongoing expenses. It’ll provide numbers as granular as you need them, including detailed expenses of a single cell phone, for instance.
- Toll Fraud Detection: The software will automatically track your calls, in order to provide accurate invoicing and collections. This process is effective in picking up activity that is not in keeping with normal usage.
- Compile and Extract Call Detail Records (CDR): This could be for security, legal or monitoring purposes. There are times when you need to access your records and a call accounting software is the tool with which to do this.
- Invoicing: Do you do business over the phone? If so, you want a software that can register these transactions and generate invoices.
There are other things a call accounting application will allow for, including optimizing your overall system. Do you have the right number of lines? What percentage of your lines is your call center using throughout the day? If you’re around 65%, you may have more than you need, but if you’re at 95% capacity, you should explore adding a few lines.
You can compare phone expenses between departments and individual employees as well as comparing one time period with another.
In general, call accounting applications vary from one to another, so if you’re in the research phase of the sales cycle, compare carefully. You should make a list of ten things you absolutely can’t do without in your call accounting software and use those as a filter in your choice.
Which Industries Use a Call Accounting Software?
So, while many businesses use QuickBooks as their business accounting software, there are many industries that have adopted and rely upon a call accounting software. In fact, call accounting programs often integrate with QuickBooks, so you don’t need to look at them as separate trees, but as separate branches of the same tree.
- Call Centers
You should know that call accounting software is not limited to these industries. So, if you could use some integration between your phone activity and your regular accounting software, check into call accounting software.