All About Accounting Software

As one of eBay’s largest and most established golf sellers, with statistically 100% customer satisfaction, 3balls.com reputation was at stake when their sales volumes exploded. Luckily, Intacct gave them a financial back-office system that could scale and adapt to their ever-changing businesses needs.

3balls.com chose Intacct’s comprehensive financial management and accounting applications, delivered over the Internet. Instead of buying and supporting an internal IT infrastructure, 3balls.com pays a low, monthly subscription fee for employees to access Intacct’s financial applications anywhere, anytime.

3balls.com used Intacct’s integration service to easily fuse financial back-end applications with its existing e-commerce, order lifecycle management and inventory management system from CORESense, a provider of on-demand retail management software for companies with multi-channel sales strategies.

Today, sales data from 3,000 channel partners and 100,000 customers placing up to 400 orders a day on 3balls.com,
eBay and Amazon flows directly into the Intacct system.

Because all financial transactions are available in real time, managers can run channel-by-channel revenue comparisons and control the latest orders, inventory levels, shipping schedules and financial transactions without wasting significant time and effort on manual processes or report customization.

RedGear Technologies, developer of TaxWorks professional tax software, has partnered with CYMA Accounting Software to create a software package that will prepare the most complex tax returns as well as provide solutions for a broad spectrum of accounting needs. The new TaxWorks package will be available for the 2011 tax filing season.

RedGear Accounting, powered by CYMA, will be included with the TaxWorks software at no additional charge. The accounting and tax filing software includes general ledger, cash disbursements, cash receipts, after the fact payroll, accounts receivable, accounts payable, bank reconciliation, purchase orders and more. Additional modules, or upgrades such as live payroll, are available for purchase.

Including RedGear Accounting at no charge with the purchase of TaxWorks allows tax preparers to meet their clients’ bookkeeping and financial reporting needs. Tax preparers can increase their revenues, and save money doing so because they will no longer need to purchase a separate accounting or write-up software package. We feel that by working with CYMA to deliver RedGear Accounting we are giving our customers the best value on a full featured tax and accounting suite available in the market today.

Intacct is taking aim at services-based businesses with a new product and partnership.

Intacct’s Project Accounting application, now generally available, will help services companies keep better track of employee project hours and expenses compared to ad-hoc approaches done with spreadsheets or paper documents, according to the vendor. It also generates invoices based on that data, and provides users with role-based dashboards that let them keep tabs on a project’s progress.

In addition, the software includes a library of reports and graphs tuned for services businesses, allowing them to monitor benchmarks like “project delivery costs against plan.” It is also possible to develop customized reports.

Intacct also announced a partnership with SaaS (software as a service) project management vendor Clarizen that will result in an integrated product, according to a statement.

Overall, Intacct is tapping into a broad economic trend, according to one observer.

“A key component of every product company will be growing services revenues,” said Altimeter Group analyst Ray Wang via e-mail. “Today products are excuses to sell services. Project accounting provides one core component. Intacct delivers this piece. Clarizen delivers the resource scheduling, project tracking and task management.”

Demand for such software is growing since companies are more eager than ever to closely track project expenses amid the economic downturn, according to 451 Group analyst China Martens.

Intacct’s move puts it in closer competition with NetSuite, which gained software similar to Clarizen’s through its acquisition of OpenAir. Appirio is another player, with its project management software built on Salesforce.com’s Force.com platform.

The SaaS delivery model works well for services businesses because teams are often distributed, licenses can be added easily and deployment is rapid, Wang said.

Still, many companies are still getting by with Excel or using on-premises applications like Microsoft’s Dynamics SL, Martens added.

Accounting software is in the transition towards the use of hosted, on-demand services. Some experts are advocating a switch to a purely online Software as a Service (SaaS) model, where data and programs are hosted in secure data centers. Many industry leaders, including Sage, Intuit, CCH, Thomson Reuters and Microsoft, have advocated a switch to a model of some locally installed applications and some hosted services (also known as “software plus services”).

This hybrid approach, which has been adopted by many publishers, offers solutions that leverage the cloud for reach and flexibility, but connect into established on-premise systems for depth of features. For example, the Sage Non-Profit Solutions group recently announced ePhilanthropy, a web-based service targeted at nonprofit fundraising. While there are many successful products that use this model, including many banking and payroll applications, the demise of on-premise software will not occur overnight. Locally installed, Windows-based accounting software will, for the foreseeable future, dominate the small business market, and will be supplemented by online services that meet specific customer needs.

The area of software that will change is in how accountants and clients work with each other, and how both groups will interact with business management applications. Having access to the same data, the same user interface, and being able to see non-verbal cues using webcams along with video conferencing tools like Skype, GotoMeeting or NTR Support will revolutionize how we work with clients.

We’ve all heard the hype about web-based applications and services, but another technology trend that is becoming more common is the use of applications that are hosted on Windows servers in a secure data center. Thomson Reuters has offered its CS Suite of applications in a hosted environment as Virtual Office CS for some time, and CCH’s Next Generation platform offers hosted or local deployment of the applications. One big advantage of these platforms is that you can run the application locally or you can run it from the publisher’s hosting facility. Assuming you have proper backups of your data in multiple locations, you can either switch from hosted to local installation or in the event of an extended emergency (e.g. Hurricane Katrina).

In addition to these software-publisher hosted offerings, companies like Right Networks, MyOwnASP and CPAASP/InsynQ enter the market with hosting for Windows-based end-user accounting applications like Peachtree, QuickBooks and Dynamics GP. These offerings make it possible for clients to work on their accounting software from anywhere and still have their data stored in a secure hosting facility, with easily available redundant power, Internet and hardware in the event of a failure.

Many hosting companies have robust infrastructures with multiple years of experience hosting common tax applications, common accounting software applications, and productivity suites. Even if your firm has ruled out using hosting as a primary technology strategy, you should consider using hosted services in the event you lose access to your offices for an extended period of time as part of your business continuity plan.

ArrowBooks Online Accounting Software recently announced the launch of Integrated E-commerce websites. This integration syncs web-based sales transactions with ArrowBooks accounting software, making it easier for users to access the latest information and eliminating the need to enter data twice.

With businesses moving to the online world, it only makes sense to implement a system that allows users to manage their online sales efficiently. ArrowBooks Online Accounting Software does just that by providing their customers with a comprehensive online accounting package. It’s no more a hassle to maintain items on the website or even ensuring that all the item sales have been accounted for. The entire process is automated with the integration of the e-commerce site with the accounting software.

ArrowBooks delivers users with various tools and features, to tailor the E-Commerce websites to their business needs. Using the Website console module in the ArrowBooks software, customers can change the look and feel of their website – from changing the layout, wording to colors and photos etc.  Users can even set/modify the accepted methods of payment, shipping costs, sales tax and more.

Further, the integration of ArrowBooks Online Accounting software with the E-Commerce website allows users to upload items onto the website easily with the help of the inventory module. Users just need to select the items they want uploaded and the inventory module does the job for them. There’s no need to upload items to the website again. The software also manages and tracks the online sales transactions as and when they occur, making the tracking process more efficient.

ArrowBooks’ integrated E-Commerce Website provides a simple and comprehensive solution to manage an online business. This application is ideal for any business big or small and increases productivity and efficiency.

Halfpricesoft.com’s 2010 edition of ezPaycheck payroll software makes it easier for small and mid-size businesses to calculate payroll and print checks. The affordable software offers users, the ability to print paychecks on blank check paper, including but not limited to printing company info, company logo, bank info, routing number and account numbers. This saves companies a lot of money on custom-printed checks.

Also, ezPaycheck’s intuitive interface makes it easier even for users with minimal computer knowledge to set up, use and understand the application. This takes a lot of load off a company’s back as they save time and money in training and other support activities. The ezPaycheck can be integrated with ezPaycheck payroll accounting software, so users eliminate the need to enter data twice and employees have access to the latest information.

Apart from the regular features, the 2010 edition includes updated federal and state tax tables, additional printing formats, additional reports and the ability to print Forms 940 and 941. This updated version of the software is ideal for any business, big or small. Companies don’t have to pay much for the software and can even try it risk free for 30 days prior to purchasing the software.

Commenting on the easy-to use feature the exPaycheck payroll software, Dr.Ge, co-founder of Halfpricesoft.com, said, “Complex payroll software does have its place to be sure, but with most payroll software today it’s almost as if the user needs an I.T. or accounting degree to operate it. Small business owners lack the funds to hire an AP department and they lack the time to learn the ins and outs of advanced accounting software. So we went to work making a payroll software unlike any other – one where small businesses can figure out the functions as soon as they start the application.”

Halfpricesoft.com, which strives to develop intuitive and simple software, also offers other solutions such as ezCheckPrinting, ezTimeSheet and ezW2.

Acclivity released the latest Mac version of their small business accounting software -AccountEdge2010. This new edition of the accounting software is ideal for businesses that need web store integration. The web store called EnStore, developed by Acclivity’s Checkout partner, Sofa, enables businesses to provide their customers with a good online shopping experience. It offers users, data on the detailed tracking of item information, profitability of sales analysis and bank deposit slip printing.

Irrespective of the size of the online store, EnStore is a easy-to-use application that can be seamlessly integrated with other systems. For instance – Information related to products, images, pricing and other details can be managed in AccountEdge and integrated with EnStore. This allows users to have the latest information and enhances workflow efficiency.

Further, the pay as you go, web store allows users to customize the look and feel of their store with the help of various templates the application offers. Users can add their own pictures, descriptions and even modify the store with automatic shipping, tax rate lookup, credit card payment options and more.

Apart from the customizable features, AccountEdge 2010 also provides businesses the ability to track and manage their online inventory with ease. For instance- they can track item weight, price, tagging functionality, brand association etc. What’s more, it even lets you analyze and monitor the profitability margin of every sale with the help of Show Profit Analysis button. It offers users a fair analysis of the gross profit margin, cost of each item, cost of the entire invoice, profit analysis from an order quote and an invoice. Users even have the ability to modify the prices of items to analyze how it affects the profitability.

AccountEdge 2010 offers a plethora of tools and features to effectively manage an online store. It comes integrated with good support manuals and user guides to help customers get started. Their Auto Update feature automatically updates the software for any new updates ensuring customers have the latest features to work with.

To make it easier for you to decide on the best accounting software in the market, we have developed a Top 15 Accounting Software vendor report, which lists the top vendors, product features and more.

Sage, a leader in accounting software, has tailored their accounting software to meet the needs of the construction industry.  Sage Timberline Enterprise is accounting software made to fulfill the unique needs of construction companies everywhere.  Sage Timberline Enterprise integrates core accounting functions with service management, job management, and an estimator estimate.

The benefits of Sage Timberline Enterprise are the newly designed process maps that allow customizable, visual representations of everyday tasks.  Sage Timberline Enterprise also features a dispatch board that helps users visually schedule service workers by assigning the appropriate technician with the right skills to perform a job.  Sage Timberline Enterprise is an all in one solution for those in the construction industry.  Other products from Sage for the construction industry are Sage Timberline Office and Sage Master Builder.

Accounting Today named Intacct as one of its Top New Products of 2010. The list was made up of the top products in 16 different categories, and Intacct was chosen as the winner of the Top Accounting/ERP Solution category.

Intacct is an established solution and its latest edition was praised as being extremely user-friendly and effective.

Intacct is so highly regarded that ten of the top 100 largest CPA firms use the software with their clientèle. More that 3,300 companies use Intacct accounting software, in a wide rage of ways; from automating financial processes to improving transparency.

The company stated that they are continually improving and developing on their software, and hope to continue to provide superior accounting solutions in the future.

Intacct, a web-based financial management and accounting software vendor for businesses and CPA firms, was given top score in a 2010 Review of Web-Based Small Business Accounting Systems. The 2010 review was conducted by The CPA Technology Advisor and will be appearing in the June 2010 issue.

Intacct outscored other popular accounting software products, including products from Intuit. The review contains scoring sections across many areas including: basic system functions, core accounting capabilities and management features.

The author of the 2010 Review of Web-Based Small Business Accounting Systems notes: “Intacct offers a comprehensive web-based accounting and business management suite that is available in several industry versions, including one specifically designed for professional accountants. Intacct is not a simple bookkeeping system that’s been thrown into an online platform. It is a powerful and fully comprehensive accounting system that can manage complex and diverse entities securely and while maintaining appropriate compliance.”

“As the rapid shift to the cloud takes place, reviews like this are further validation that Intacct continues to set the bar for the industry,” said VP of product marketing, Betsy Bland. “This is the third straight year Intacct has had the highest score in The CPA Technology Advisor’s review. Intacct combines ease of use with robust financial management functionality to deliver a solution that is ideally suited for companies that have outstretched entry-level accounting solutions or want to avoid the cost and IT hassles of on-premise software.”

Adnetik, a real-time media purchasing company, selected Intacct as their accounting software of choice. The company wanted a solution that would be able to handle a high volume of transactions and work for a globally distributed organization. Adnetik also required their accounting software to be easy-to-use with minimal IT infrastructure and support. The company realized that cloud-based was the best choice for their company, based on their accounting software needs. Adnetik found that Inacct offered the best combination of hassle-free usability and affordability.

To view The CPA Technology Advisor review, visit: http://www.cpatechnologyadvisor.com/article/article.jsp?id=2818