Thomson Reuters – Accounting CS
Best Fit: Full-service accounting practices that provide periodic client services that include account reconciliations, journal and ledger management, financial reporting and other functions associated with write-up, and want a system that integrates with a larger suite of professional programs.
- Built-in trial balance utility
- Direct integration with tax, payroll, portals and other CS Professional Suite programs
- Optional online client-side accounting system integrates with professional system, allowing firm to work with live client data and provide clients with real-time reports
- Optional client portals and mobile apps for file sharing and collaboration
- Robust customizable reporting and financial statement generation
- Technical support is free only during initial 60 days for installed version, but is included with SaaS version.
From the February 2013 review of Client Write-up systems.
Available as either an installed or web-based program, the Accounting CS system from Thomson Reuters provides write-up, trial balance and after-the-fact payroll and wage reporting. An optional module is available for live payroll processing. Firms can also take advantage of a client-side, web-based bookkeeping solution that integrates directly with the professional system, synching data in real time, and eliminating the need for data transfers. Recently added features include a full receivables management utility, the ability to import data from spreadsheets, and several data entry enhancements.
While the program can be used as a stand-alone system, it is best used as an integrated part of the CS Professional Suite, with data flowing as needed between programs, including tax preparation and planning, fixed asset management, and engagement, document and practice management.
Basic System Functions: 4.5 Stars
During initial system setup, Accounting CS provides guides to ensure client and firm data entry are complete. Users can create charts of accounts from scratch or import them from spreadsheets. The system also offers customization of data fields, with any number of fields for tracking firm, staff, client, employee and vendor information.
Accounting CS opens into the user’s home page, which can be customized to include shortcuts to program areas and functions. The page also offers details on firm information and alerts to tasks or system messages. The program’s overview screen has information dashboards that can be customized by users, such as the primary Firm Dashboard, which provides management with top-level data, giving at-a-glance access to firm productivity, aging, staff availability, e-filing functions, document management and other items. Users are only able to access clients, program features and dashboards that they have been given access rights to based on their role in the firm.
Another core information screen is the Client Dashboard, which shows customizable client data such as bank information, vendor/payables management, income statements, budgets, payroll and employee data. The program also has a Staff Dashboard that is tailored to each firm user, which they can set to show their schedule, shortcuts, support information and quick access to Thomson Reuters’ online user support community. A menu on the left side of the screen lets users quickly move to the core system areas in Accounting CS from anywhere in the program, such as moving from payroll functions to a client’s GL and journals, reconciliation functions, payroll or other functions.
Transaction data entry screens include pull-down lists for choosing transaction types, subtypes, journals, periods and dates, and users can view transactions individually or in a spreadsheet display. The new data entry features in Accounting CS include importing amortization schedules from ToolBox CS and TValue for principal and interest reporting.