Review of AccountEdge 2011 for Windows - 2011

Acclivity —
AccountEdge 2011 for Windows
800-322-6962
www.accountedge.com

From the April/May 2011 Review of On-Premise Accounting Systems for Small Business

Best Fit:
With hundreds of business templates, AccountEdge is suitable for a variety of small businesses.

While many readers may not be familiar with Acclivity or AccountEdge, this recently updated product has undergone a major transformation and was re-introduced in February 2010. And the latest release (2011) contains numerous new features. Formerly known as MYOB, AccountEdge has a fresh interface, easy navigational capability and a lot of features not commonly found in small business accounting products. With hundreds of business templates, AccountEdge is suitable for a variety of small businesses.

Basic System Functions:
Installing AccountEdge took minutes, without any problems. The main navigation screen has a drop-down menu at the top that provides access to command centers, where all modules are available. Navigational icons are found below the menu bar. Clicking on an icon will access that particular command center, where a series of workflow options are displayed.

At the bottom of the screen, various action tabs lead to options such as a to-do list, find transactions, reports and analysis. Journal entry screens are clearly defined, with users entering the corresponding account numbers. Like all data-entry screens, lookup options are available for quicker data entry. The preferences option allows users to set up customizable menus, with options in each of the command centers. The analysis function, found in each of the command centers, serves as a dashboard of sorts, providing much of the same information found in dashboards. Users can also choose different functions from within the analysis screen, including printing or saving a report.

When setting up a new company, a variety of service classifications are available, including agriculture, manufacturing, retail, service, and other. Once a classification is chosen, users can choose a business variety within that classification. The chart of accounts will reflect the type of business selected.

Several of AccountEdge’s new features are specific to certain industries such as service businesses, construction and contractors, and retail stores. These new features include the addition of Progress Billing for contractors, Retainers for attorneys, and time tracker capability, a necessity for employees or anyone else who needs to track time. The job tracking capability makes it easy to track company projects and track expenses while keeping track of profits and losses incurred.

AccountEdge supports both PC and MAC OS, and can be purchased in either edition, as well as a network version. AccountEdge Mobile (Apple iOS only) lets users access data from anywhere, with automatic syncing of data with desktop computers.

Core Accounting Capabilities:
AccountEdge easily handles all core accounting functions such as regular and recurring journal entries. Users can also create a budget for up to two years. The Sales (AR) module contains a host of advanced features such as quotes, work orders and invoices.

The Purchases (AP) module tracks any purchases and returns, applies credits when necessary and can calculate volume discounts. The Contacts module tracks customers and allows users to create personalized letters. Multiple tax codes can be set up, as well as multiple rates per customer.