2013 Review of Micronetics - Accounting Xpert Enterprise Edition Client Write-Up

Micronetics, Int’l. – Accounting Xpert Enterprise Edition Client Write-Up
561-995-1477

www.axpert.com

Best Fit: Accounting Xpert is designed for accounting professionals serving multiple clients of any size, including mid-sized and larger enterprises with consolidation needs and multiple locations.

Strengths

  • Supports consolidated and multi-division, multi-location entities
  • Offers reporting for any desired time period/years
  • Strong reporting and financials customization
  • Newly-added support for mobile devices, including iPad and Android

Potential Limitations

  • Limited online self-support tools

From the February 2013 review of Client Write-Up systems.

The Accounting Xpert Enterprise Edition Client Write-Up from Micronetics was designed by accountants for accounting firms that provide reconciliation, ledger management, payroll compliance and other write-up services for clients of virtually any size, including large enterprises with multiple subsidiary units or geographical locations. The system is available as an installed network program, or can be used as a hosted web-based solution.

Micronetics initially started developing accounting systems in 1978, and has stayed current with major technology changes during that time. The most recent release reflects this, with full support for mobile devices with web browsers. Additional recently added features include streamlined navigation, enhanced reporting and greater customization on data entry screens.

The company also offers a business-side version of Accounting Xpert Enterprise, as well as secure online portals for accountant-client document sharing and collaboration.

Basic System Functions: 4.5 Stars

Accounting Xpert Enterprise is designed as an all-in-one program that includes full GL, AR and AP, bank reconciliation, financials reporting, inventory, purchase orders and sales modules, plus built-in live and after-the-fact payroll and wage reporting. The only available add-on module the company charges separately for is an optional client checkbook system.

During initial setup of client charts of accounts and financial information, users can create them from scratch, customize industry templates or copy charts of accounts from similar clients. Data entry is performed on intuitive screens. Client data files can also be imported from QuickBooks.

The main interface for the program features an Outlook-style menu on the left side of the screen that offers shortcuts to the main modules and features in the system. Built-in security access rights ensure that each firm user can only see the modules, features and clients that they’ve been assigned to. Additional navigation options are available from traditional drop-down menus at the top of the screen. Many of the program’s screens offer customization, as well as the ability to create personal reminders and automated alerts.

The system offers dashboard views of each client’s key business indicators with users able to drill down to underlying transactional information. This drill-down functionality is also available when reports are viewed on-screen.

Accounting Xpert Enterprise supports any number of staff (with appropriate licensing), and can be used to manage the accounts for any number business clients, including those with consolidated reporting, multiple locations and multi-state employees. It is available as a traditional installed system can be hosted by Micronetics, allowing firm staff to have anywhere/anytime access to the system, while all of the program installation, updates and other IT issues are managed by the vendor. The hosted version also comes with automated data backup and recovery.

Core Write-Up Features: 5 Stars

Accounting Xpert’s core write-up functions include a wide collection of GL and journal management tools, with the ability to create up to 9,999 schedules per company, including traditional financials, fund statements, unit financials and custom balance sheets. Up to 999 custom journals can be maintained, with options for creating automatically recurring and reversing entries. Firm staff can also unpost journals, make corrections and repost, with a full-time audit trail tracking all changes. Transactional data entry functions are made on a single window, helping users more easily find and correct errors.

Expenses can be split to multiple GL accounts, and the system automatically maintains totals of account numbers. Transactions can be posted by selecting the payee from a list or from the account, while new accounts can be added on-the-fly. Accounting Xpert does not require monthly closings, instead allowing users to re-run reports at any time and across any date range, even multiple years. Several analysis and benchmarking tools are found in the program’s reporting section.

For account reconciliation, the program uses a checklist approach that lets users quickly verify accounts and make adjusting entries, as needed. Multiple bank accounts can be assigned to each client, and each can be reconciled individually. The program includes live and after-the-fact payroll functions through which users can easily generate payroll histories from journal entries, and the firm can also produce forms W-2, 1099, 940 and 941. All tax tables and forms are included for federal and all states, and are updated quarterly via download or via CD. If using the hosted version of the system, all tax table updates are automatically performed by the vendor.

Reporting & Financial Statements: 4.75 Stars

GL, AR, AP, payroll and other reporting functions can be accessed from each of these modules. The system can create full, customizable financial reports, along with summary and detail transaction reports, journals, period comparisons, listings, account balances, and a working trial balance and adjusted trial balance. Reports can be run across any time period, including partial and multiple years. Users can customize financials and other reports with charts and graphs. On-screen reports give drill-down access to transactions.

As mentioned previously, the program can print forms W-2, 1099, 940, 941 and state unemployment. Reports can be saved to PDF, Word and Excel, and can be emailed to clients from within the program.

Accounting Xpert’s receivables module supports balance forward and open item customers, as well as service and normal inventory items, finance charge support, dunning messages, defined aging, and the ability to set user-defined statement cycles, terms, classifications customer levels and other details. AR module also includes built-in invoicing and client management features.

Import/Export/Integration: 4.5 Stars

Client data files can be imported directly from QuickBooks and Sage 50 (formerly Peachtree), as well as from CSV and Excel, which allows a two step import from most other financial systems. Importable data includes transactions, company, employee and inventory information.

The program can also export to Excel and CSV, which allows users to transfer data to most trial balance, tax and payroll systems. The optional Checkbook Xpert can be synched to the write-up system. As noted previously, reports can be saved to PDF, Excel and Word. Accounting Xpert’s new client portal option provides secure file sharing options.

Help/Support: 4.5 Stars

The built-in help features in Accounting Xpert include field-specific help and instructions that automatically appear on-screen, and a comprehensive print and PDF user manual. The support website includes video tutorials, FAQs, installation and support resources and linking to online support meetings. All support, including phone and web-based, is included in annual pricing. New firms also receive free support for data import and conversion.

Summary & Pricing

Accounting Xpert Enterprise Edition Client Write-Up offers comprehensive features for firms providing write-up and financial reporting for any size business, particularly those with consolidation needs, and gives strong control over journals and GL. The reconciliation functions are also well-designed to streamline the process. The recently added hosting option, in addition to the traditional installed version of the program, makes the program more attractive to firms who are moving to web-based systems. Along the same lines, the hosted version can be fully accessed and run on mobile devices.

The networkable version of the system costs $995 for the first user and $245 for each additional user. Annual program renewals, which include support and the payroll tax update, cost $495, which covers up to 10 users. The optional Checkbook Xpert module costs $195.

2013 Overall Rating:4.75 Stars


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