2014 Review of Thomson Reuters Accounting CS

The current write-up application for the Thomson Reuters CS Suite of applications for professional accounting firms is a relatively new product called Accounting CS.  Although this application can be installed on a local computer for use by a virtual accounting department, this application can also be run using traditional remote hosting or web-based interfaces.   

The product fits best for service-based companies and firms that have very tight accountant-client relationships and that  need the accountant to have control of the general ledger and related security permissions.  ACS is a collaborative accounting application which has been created in the image of a traditional write-up application.

Strengths

  • Used by thousands of practitioners around the US, and is the successor tool to the very successful Creative Solutions Accounting application.
  • Excellent solution for production write-up and collaborative accounting with clients, and integrated with the other solutions in the CS Suite. 
  • The product is designed for heads-down data entry and high volume processing, and has an attractive user interface.
  • Accounting CS puts the accountant in total control of the software, and user access can be set for each function and menu option.  The product is traditionally provided by an accounting, bookkeeping, or tax professional, and no services are directly marketed to a firm’s clients.

Potential Limitations

  • Does not have direct integration for automatic financial institution/credit card transactions, although data exported from a bank can be manually imported into the software.
  • Like most products in this review, Accounting CS does not support multiple currencies.
  • An ecosystem of add-ons for specific business management needs, such as CRM, manufacturing, and inventory which integrate with the data in Accounting CS is not available.
  • Payroll is calculated in another application, Accounting CS Payroll, or can be outsourced to Thomson Reuters (MyPay Solutions) or third-parties (ADP, Paychex, and others).
  • Limited tools are available in the CS Suite for displaying non-financial metrics, benchmarking, and creating dashboard-style reports using Accounting CS data.

Summary & Pricing Information

Accounting CS can be purchased as part of Virtual Office CS, the Citrix-hosted version of the CS Suite applications, as part of their Software as a Service package, or can be purchased from Thomson Reuters for local installation. Accounting CS is bundled with tools for after-the-fact payroll, and is priced starting at $2,900.  Other features such as client data access and live payroll are priced separately. Pricing is available upon request from Thomson Reuters at 800-968-8900.

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