Review of Red Wing Software — CenterPoint Accounting - 2011

Red Wing Software - CenterPoint Accounting
800-732-9464
www.redwingsoftware.com

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

Started in 1979, Red Wing Software offers quality accounting and financial software products to small and mid-sized businesses. CenterPoint Accounting is an entry-level product that contains all the basics that a small company requires. The addition of a strong Inventory module will create a new market for this product. Also available from the vendor is TurningPoint, a more sophisticated accounting product designed for larger companies or those looking to upgrade from their entry-level product.

Best Fit:
Small & mid-sized businesses who need an entry-level product with all the basics; scalable to more sophisticated TurningPoint accounting product designed for larger companies

Basic System Functions:
CenterPoint was downloaded from a link provided by the vendor, and installed in minutes. System navigation is easy, with a drop-down menu that offers access to system functions. Icons are displayed directly below, providing access to frequently used functions. The Quick List option, to the left of the navigation screen, provides a shortcut to all system modules and frequently used features.

Customization options are found throughout, with the ability to customize just about any user interface screen if desired. CenterPoint also contains a variety of other features such as the transaction search function that makes system navigation easier. The drilldown option also provides quick access to all originating transactions for invoices and payments.

This program is designed for small businesses, and while there are no industry-specific templates or features, it does contain all the core functions that a small business should need. However, Red Wing Software does offer two other industry-specific products: CenterPoint Fund Accounting for nonprofits and CenterPoint Accounting for Agriculture. However, both are offered as separate product versions, not as templates or industry-specific features with the core CenterPoint accounting system.

Core Accounting Capabilities:
CenterPoint offers the option to utilize real-time accounting or to use the batch system. Account numbers can utilize up to 22 characters, and sub-accounts can be created for easier account grouping. The system also offers a transaction template that can be utilized for quicker transaction entry. Both recurring journal entries and recurring batches can be saved. Users can also set up entries for auto-reversal, if desired.

CenterPoint offers several features that simplify data entry, including the ability to add vendor, customer and inventory information on the fly. Using the batch entry system, users can easily review and edit any transactions prior to posting. Default account numbers can be entered for vendors and customers, with the ability to post both partial and full payments in the AR module, as well as easily process and print customer statements.

Sales tax is easily tracked. Users need to set up tax categories and jurisdictions, with tax categories assigned to all items or services. After tax categories are assigned, users simply define each tax entity with the appropriate tax percentage.