WorkingPoint, Inc. — WorkingPoint

WorkingPoint, Inc. — WorkingPoint
415-399-9716
www.workingpoint.com

From the June 2010 Review of Web-Based (SaaS)_Small Business Accounting Systems.

Formerly called NetBooks, the completely web-based WorkingPoint small business accounting system offers small entities a good collection of tools for running their businesses, invoicing, interacting with clients and managing other activities. The system is geared primarily for very small businesses and doesn’t offer all of the functions/features outlined in our review benchmark on page 54, but I see a lot of potential benefit to some business types.

BASIC SYSTEM FUNCTIONS:
WorkingPoint is very much designed for the novice/non-accounting user, providing a very simple and intuitive interface that breaks everything down into common language. While this means that professional bookkeepers might look unfavorably on the terminology it uses, most small business owners probably will prefer and better understand terms like bills instead of payables, and invoices instead of receivables.

The business Home screen offers multiple customizable overviews of account balances and things like period reporting, bills due, overdue clients and quick access to entering new invoices, quotes, bills or expenses. Additional tabs on the screen separate business processes into screens for contacts, invoices, bills, items, accounts, reports and the company profile, the last of which acts as a basic client-facing website that offers contact and general information about the business. Some of the data, such as expenses, P&L, income statements and period comparisons, can be presented graphically or in numerical formats, with good drilldown access to clients, invoices and transactions.

During initial program setup, users can select general messaging and default accounts for sales taxes, discounts, charges and other transactions, along with electronic payment options, but other than being generally targeted toward very small businesses, there aren’t really any specific industry settings or templates available for automatically creating charts of accounts, terminology and other factors. Accounts and ledgers are maintained, but behind the scenes.

The online Help utility provides good topical guidance (“How do I’s”), along with search and index utilities. Additional resources are also available, including an accounting basics section, which offers a good primer on double entry bookkeeping, debits and credits, the chart of accounts, and other topics. FAQs, a Help center and a user feedback forum are also available through the company’s website. Live support is only available by email and website form.

CORE ACCOUNTING CAPABILITIES:
WorkingPoint is not a comprehensive corporate accounting package. It is designed to get small business owners to better manage their business activities, an area where many do poorly even with off-the-shelf accounting packages because such systems can still be complex. So WorkingPoint has created an exceptionally easy to understand and use web-based bookkeeping system that is also limited in comparison to more comprehensive packages.

The program does maintain a basic chart of accounts, but it is called the accounts list. It includes six main account categories: asset accounts, liability and equity accounts, COGS, and income and expense accounts; each having multiple subcategories. Likewise, WorkingPoint offers payables and receivables management functions, but with occasionally differing terminology. Sales tax rates are included and automatically maintained for all states, counties and cities in the United States.