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2010 Review of Small Business Accounting Systems (On-Premise products)

Small Business Accounting: Fully Loaded

From the April/May 2010 Issue

At a glance, helping your client choose an accounting software product that
will suit their needs may not seem difficult. An array of choices is available,
with products found in every price range and level of difficulty. But as you
actually start looking a little more deeply at the various products, it becomes
more and more difficult to find the right one.

That’s because today’s small business accounting products contain
more features and functions than ever before. Years ago, a core accounting system
consisted of solid GL functionality, along with AP and AR capability. If you
needed anything else, you had to step up to the larger products, which contained
a flurry of features that the majority of smaller businesses would never utilize.

Then along came products like QuickBooks and Peachtree, which offered small
business owners many of the features, on a smaller scale, that were found in
these high-end, out-of-reach products. To remain competitive, other software
vendors found themselves adding more and more features to their products, as
well. The result is a win-win for your clients, as there are more feature-loaded
products available than ever before.

This year, to make your search just a little easier, we’ve decided to
take somewhat of a different approach to our review process. We’ve broken
down each category into sub-categories, which should simplify the identification
and review of the common functions within each category.

This review covers small business accounting products that are considered
“on-premise products.” In other words, these are products that your
clients will install on their computers. as opposed to SaaS (Software-as-a-Service)
products, which will be reviewed in the June 2010 issue. For our purposes, we
have defined small business accounting products as being priced at $5,500 or
less for the core accounting system (GL, AP, AR & Payroll) for a single-user
system. However, all of these products offer much more than just the core module
set.

2010
Small Business Accounting Review Criteria
  • Basic System Function
    • Installation Ease
    • General Navigation & Ease of Use
    • Industry Specific Templates
    • Industry-Specific Features
  • Core Accounting Capabilities
    • GL/AP/AR functionality
    • Sales Tax Functionality
    • Audit Trail
    • Multi-Currency (Extra Credit)
    • Multi-Location Support (Extra Credit)
  • Day-To-Day Operations
    • Sales/Point of Sale/Shipping
    • Customer/Vendor Employee Management
    • Inventory/Purchasing
    • e-Features
  • Management Features
    • Dashboard Overviews
    • Reporting
    • Security Features
  • Integration/Import/Export
    • Data Transfer
    • External Integration
    • Online Accountant Transfer Tool (Extra Credit)
  • Help/Support
    • Built-In Support Features
    • System Updates
    • Support Website/Documentation
    • U.S.– based support
  • Summary & Pricing
  • Overall Rating

Using this new review format, we hope to gain consistency throughout the review
process and note when a product exceeds our expectations, or explain why it
does not. In the meantime, those in the market for a new accounting software
product can look for the desired features and quickly determine if the product
performs those functions and how well it does so.

As with most things, not everyone will agree with the results of this process,
and it is not meant to be the final word on a decision to purchase a financial
software product. Rather, it should be used as a resource when researching different
products for your short list. Along with this review, I highly suggest you visit
the vendors’ websites, view demos and download trial versions of the products
that interest you. Only then, can you make an informed, educated decision on
the product that is best suited for your client’s needs.

– – – – – – – – – – – – – – – – – – – – – – – – – – –

Acclivity – AccountEdge 2010
for Windows
Formerly known as Premier Accounting, AccountEdge
2010 from Acclivity has been completely updated with loads of new features
and functions. Many of you may be more familiar with the product’s
previous name, MYOB. Acclivity purchased the U.S. development portion
of the company in November 2008, releasing its new and improved product
in February 2010, just in time for this review.
A-Systems Corporation – A-Systems
Visual Bookkeeper
A-Systems Corporation has been providing quality
software products since 1978. Starting as a construction accounting software
vendor, A-Systems eventually expanded its line of products to include
a general accounting product called Visual Bookkeeper, which is reviewed
here. Though in direct competition with industry giants such as QuickBooks
and Peachtree, A-Systems offers its customers a more personalized, customized
product.
Cougar Mountain Software – CMS
Professional 2010 Accounting
In 2007, Cougar Mountain Software celebrated its
25th anniversary and has continued its committed goal to offer an excellent
software product geared toward small to mid-sized businesses. The CMS
Professional products were first introduced to the market in 1997, and
were the company’s first Windows-based product. CMS Professional
2010 product packages include an accounting package, point-of-sale package
for retailers, and a FUND accounting package for nonprofits and government
organizations.
Database Creations Business!
Professional Edition
Database Creations was founded in 1982, initially
offering database applications. Now offering customized accounting and
inventory applications using Microsoft Access, Business! Professional
Edition is the offshoot of the highly successful business accounting program
called Yes! I Can Run My Business. The vendor also offers Business! Standard
Edition designed for smaller businesses..

Intuit – QuickBooks 2010 Premier
Who hasn’t heard of or used QuickBooks? Let’s
factor in the millions who are using QuickBooks at this very minute. All
told, QuickBooks is by far the single most popular financial accounting
product designed specifically for the small business owner. But Intuit,
makers of QuickBooks, has not been content to rest on its laurels. Instead,
more features and functionality are found with each new release. 2010
is certainly no exception.
Sage Peachtree Premium Accounting
2011
Peachtree Premium Accounting, like a fine wine,
seems to get better with age. Always an accountant favorite, Peachtree
has really ramped up its product improvements and enhancements since being
purchased by Sage, making Peachtree a staple in the offices of millions
of small businesses worldwide.
Red Wing Software – CenterPoint
Accounting
Red Wing Software began in 1979 and continues to
offer high quality accounting and financial software products designed
for small to mid-sized businesses. The vendor currently offers both CenterPoint
Accounting (an entry-level product) and TurningPoint (also reviewed in
this section), which is designed for mid-sized companies looking to graduate
to more comprehensive software.
Red Wing Software – TurningPoint
Accounting Software
Red Wing Software was founded in 1979 and continues
to offer high-quality accounting and financial software products designed
for small to mid-sized businesses. TurningPoint Software, the more robust
of Red Wing’s products, is a modular accounting product that provides
a powerful system specifically designed for mid-sized companies.
Softrak Systems Inc. – Adagio
Accounting Version
Softrak launched Adagio in 1999, marketing it as
a full suite of accounting modules for small to mid-sized businesses.
Originally designed as a software product to aid migration from DOS-based
products, Adagio continues to add new updates that now include excellent
reporting capabilities.

— Related Articles —
2010 Review of SaaS-Based Small Business Accounting Systems
For those who still don’t quite understand the
whole “cloud computing” movement, don’t worry. You don’t
really need to know what it is to be a part of it. In fact, you already
are a part of it. Much of the things we do for our professional and personal
lives are now done through web-based programs, and with the continued movement
of small and mid-sized business accounting systems to online platforms,
businesses and their accountants will continue to move increasingly toward
the cloud model.
Qvinci Software – Qvinci Pro
Founded in 2007, Qvinci Software is a data aggregator
designed to work with QuickBooks and Excel. From the start, Qvinci’s
focus was to create a way to improve financial reporting capabilities for
small and mid-sized businesses that currently use QuickBooks and Excel.

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