From the April/May 2010 Review of Small
Business Accounting Systems (Locally Installed).
known as Premier Accounting, AccountEdge 2010 from Acclivity has been completely
updated with loads of new features and functions. Many of you may be more familiar
with the product’s previous name, MYOB. Acclivity purchased the U.S. development
portion of the company in November 2008, releasing its new and improved product
in February 2010, just in time for this review.
BASIC SYSTEM FUNCTIONS:
Product installation was approximately 10 minutes, and setup was quick and easy,
with no discernable problems. The main screen of AccountEdge 2010 contains a
grid with large navigational icons at the top Users can access system modules
through the menu bar at the top of the screen, which also provides access to
lists, setup functions and reports. Clicking on a module displays a workflow
interface with specific tasks detailed. Tabs are available at the bottom of
the screen to access a to-do list, a find transactions function, reports and
analysis. Each tab offers a lookup option. Data-entry screens are simple and
uncluttered, with lookup fields and Help options available when needed. The
AccountEdge user interface can also be customized to reflect personal preferences.
Various industry classifications are available, including agriculture, manufacturing,
retail, services, and other. Users can also choose from 100 editable business
templates during setup. And while the chart of accounts reflects the industry
classification and business type selected during setup, all features work interchangeably
with all business classifications and types.
CORE ACCOUNTING CAPABILITIES:
The AccountEdge GL includes the option to record journal entries, transfer money
between bank accounts, set up recurring journal entries and view the transaction
journal. The sales module handles all system receivables and allows for posting
of payments, printing process invoices and printing receipts. Sales in the sales
register can also be viewed along with quotes, orders, open invoices, and returns
and credits. AP is handled under purchases, where bills can be paid and where
both purchase orders and 1099s can be processed. The purchase register allows
monitoring of all purchases, orders, open bills, and returns and debits.
Sales tax codes are set up under lists by entering the appropriate code, description,
type of tax and corresponding percentage rate. The addition of new sales tax
reports offers better reporting options. The company data auditor offers a company
overview that provides general system information. A checkmark or a question
mark will appear after running the review, noting where the user will have to
research further. Also available is an audit trail report and a session report
that will provide detailed system and user information. AccountEdge currently
accepts multiple currencies, with new currencies and exchange rates easily set
up and downloaded for accuracy. The program also supports a multi-user environment.
AccountEdge currently supports general sales functionality. Sales can be entered
as quotes, orders or invoices, with users able to choose the layout of the entry
screen. A POS add-on is available for Mac users but is not currently available
for PC users. Various shipping methods can be used, but the program does not
currently provide a direct link or direct integration with any shipping providers.
New customers and vendors can be added using the easy-add function, which
is found in all relevant data-entry screens. Payroll is included with the program,
but payroll tax updates require a subscription to the vendor’s payroll
tax service. The Cards List is where all customer, vendor and employee information
is entered and maintained. Users can easily enter and track as little or as
much detail as they wish in this area. AccountEdge also offers a time &
billing module, making it easy to track time units for accurate customer billings.
The Inventory module in AccountEdge is solid, with an option to build items
as well as an auto-build feature. The module can also handle multi-location
inventory maintenance and tracking. There are two costing methods available
— average cost and last cost — with the ability to change pricing
during the sales process.
Statements, invoices and purchase orders can all be emailed to recipients
from directly within the program. The Direct Deposit and Vendor Payments add-ons
add significant functionality to e-features. The new Web Store sync option allows
users to sync store items manually or automatically, depending on products entered
into the system.
The Analysis options are found in each data-entry screen and display varying
levels of reports. While not Dashboards, they do provide much of the same information.
Reporting options are excellent, with reports available in each of the system
modules. The Index to Reports interface allows users to view each of the system
reports prior to running. All reports offer advanced filter options and reporting
fields to utilize, and users can easily export to Excel, email or fax reports,
as well as convert them to PDF or HTML files. Users can add specific system
security functions, such as turning on the audit trail. Several other security-related
options are also available, and the user ID function allows restrictions on
module or function levels.
Files can be imported using a tab-delimited or comma-separated file. Quicken
files can also be imported. Users can also export a wide variety of file types
including accounts, budgets, jobs and disbursements, using the same file format
as when importing files. The new auto-match function allows for easy data import.
As well, AccountEdge for Windows installs an ODBC driver, which can be used
to access data through Excel, Access, etc.
AccountEdge offers complete system integration with all of the vendor’s
add-on products, as well as other third-party software products such as payroll.
Other products available include CRM solutions, custom reporting, and a sync
product that makes it easier to share data between AccountEdge and other products.
The Accountant Link allows both importing and exporting of data between the
business owner and his or her accountant. With product purchase, Acclivity provides
the company accountant with a free copy of the software.
AccountEdge offers in-product Help throughout the program’s various data-entry
screens. User manuals are also available to print or refer to as needed. Users
can utilize Help to check for any system updates that might be available. These
updates are listed on the website, but are not delivered automatically to the
Product documentation is also available on the vendor’s website, as
are product upgrade instructions, how-to guides, FAQs and search options. Support
is free for the first 30 days after product purchase. AccountEdge offers two
support plans: one with telephone and email support; the other with just email
support. All support is U.S. based.
SUMMARY & PRICING
AccountEdge is a true bargain at $299 for a single-user license. Additional
workstation licenses are available individually or as a five-user pack for $499.
This does not include the subscription to the payroll tax service, which is
available for $249 for a single-user license or $299 per year for multi-user
licenses, and includes updates and upgrades. AccountEdge appears to be a simple
program under initial examination, but most would be amazed at the scope of
features and functionality found in this product. AccountEdge is an excellent
choice for the small but growing business, as additional licenses can be added
when needed. AccountEdge 2010 requires very little up-front investment, and
will pay for itself immediately.
2010 OVERALL RATING: