2014 Review of AccountantsWorld - Accounting Power

Accounting Power is the new name for the collaborative bookkeeping and client write-up solution which is part of the Accountants World Power Practice suite of applications.  Formerly known as Accounting Relief, this solution provides a web-based bookkeeping application for accounting professionals and clients. 

This solution is an excellent fit for those who need both collaborative (real time) and traditional (monthly batch) write-up capabilities.  The product’s management tools (multi-client dashboards, alerts, and very granular security settings) make this an outstanding tool for firms who function as an outsourced finance department for clients.

Strengths

  • Solid solution for production write-up and collaborative accounting with clients, and tightly integrated with the other solutions in the PowerPractice Suite.
  • The product is designed for heads-down data entry and high volume processing.  Accounting Power has utilities for importing most kinds of standing data and transactions, including import from the PC and online versions of QuickBooks, as well as Sage 50 US (Peachtree).
  • Puts the accountant in total control of the software, and user access can be set for each function and menu option. 
  • The product is only available for purchase from an accounting, bookkeeping, or tax professional, and no services are directly marketed to a firm’s clients.
  • The product includes many advanced features, such as multi-client dashboards, user-programmable alerts, advanced trial balance features, and job costing tools.
  • The product includes features like job costing which are not natively present in any of the other products in this review, as well as a tightly integrated, robust payroll application (Payroll Relief), a practice management solution (Practice Relief) and a web-based document management system and client portal (Cloud Cabinet).

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 other products in this review, Accounting Power does not support multiple currencies.
  • Add-ons for specific business management needs, such as sales tax outsourcing, CRM, manufacturing, and inventory which integrate with the data in Accounting Power are not available.
  • User interface is a somewhat boring traditional website menu structure, which may look dry for those accustomed to products with embedded interactive advertising or options for additional features.

Summary and Pricing

“Accounting Power is priced at $149/mo. (or $1,495/yr. in advance) with unlimited client access for first year users.  Renewal pricing is $99/mo. (or $995/yr. in advance), with client access priced at an additional $20/mo. per client.”

Loading