2012 Review of Thomson Reuters – Accounting CS
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Core Write-Up Features - 5 Stars
The Accounting CS system provides GL, AR, AP, trial balance, bank reconciliation, and payroll compliance functions. Users can quickly access charts of accounts and journals for each client from the Client Dashboard, which has tools to manage transactions, post correcting entries and reverse entries, or create recurring transactions.
Transactions can be posted individually or in batch, and global and cross-client transaction and edit functions allow users to work on multiple clients at the same time, as well as to collaborate with other firm staff. Users can group accounts in any manner and can assign up to 20 customizable account segments. Custom fields and search and filter options simplify reporting and information tracking.
The built-in after-the-fact payroll functions support all entity and pay types, including nonemployee compensation reimbursement, household employers, tipped, salary, and contractors. The system can generate forms W-2, W-2C, 940, 941, 943, 944, 945 and 1099, as well as all state counterparts. It includes all state withholding rates, and provides payroll tax forms for CO, IA, IN, KY, MI, MN, MO, NJ, OH and PA. A new feature supports multi-location reporting for IA, IN and Minnesota unemployment tax reporting. The program’s Location Finder helps assign the correct payroll tax rates based on employee zip code and employer location. Other payroll-related functions include vacation/time-off accruals, benefits management, direct deposit to multiple banks, third party deductions, client employee self-service and a new mobile app that allows clients to view payroll information on a variety of mobile devices.. Accounting CS includes built-in SSN and TIN verification.
For account reconciliation, users can import bank statements and view, match and clear them on an intuitive worksheet. The program includes a Reconciliation Analysis feature that automatically summarizes account activity and generates hash totals, the GL balance and differences. The system can also be used to track and reconcile credit card transactions and direct deposit activity.
The program’s check writing functions include MICR printing to blank or preformatted check stock, and company logos and electronic signatures can be used.
Reporting & Financial Statements - 5 Stars
The reporting options in Accounting CS are comprehensive and include client-specific detail and summary output for accounts, journal entries, deposits, registers, and condensed, detailed and segmented trial balance reports, variances and worksheets. The system offers more than two dozen options for financial sets that are dynamic when viewed on-screen. Users can customize or annotate all reports with the system’s built-in report writer. The program also includes standard ratios and benchmarking tools.
Reports and financials can be saved to Excel, PDF, HTML and RTF formats, stored in the optional paperless FileCabinet CS document management system, shared on client portals, or emailed directly to recipients from within the program.
Import/Export/Integration - 5 Stars
If used in conjunction with other CS Professional Suite programs, Accounting CS offers complete client data integration with Ultra Tax CS, FileCabinet CS, Practice CS and other professional programs. Users can also import data from QuickBooks, Excel and CSV formats. The online client bookkeeping solution directly integrates with the professional system, allowing staff at the firm to have full access to their clients’ live data, with no need for data transfer or syncing. Optional add-ons for portals and document management provide additional client collaboration capabilities.
Help/Support - 5 Stars
Accounting CS includes several built-in help features, such as the traditional help index, task-specific guidance and form instructions that users can access using the right click menus. Links to the support website, knowledgebase, the IRS, state agencies and the ARNE online user community are built into the program. Other online support features include system updates, marketing tools, news and training options. Transition support for users of other programs is free, and live technical support is free during the initial 60 days, but requires per-use pricing or a support subscription thereafter. Support is included for SaaS version users.
