[This article appeared with the 2016 Review
of Accounting Systems for Small Businesses.]
While the reviews included in this issue offer a good selection of both on-premise and cloud products that can work well for small to mid-sized businesses, there are other alternatives available to accountants and CPA’s that wish to offer bookkeeping and accounting services to their clients. Here are a few options to consider:
Kashoo – www.kashoo.com
Kashoo can be a great, affordable option for clients that have minimal accounting needs. Kashoo allows users to create invoices from either a desktop or mobile device, track expenses, with users able to simply scan receipts into Kashoo. A dashboard is available in the product, displaying income, expenses, receivable balances, and payables. Bank account sync capability provides users with an up to date bank balance, and decent reporting options are available as well.
Kashoo is available for both business owners and accountants, with the product offers a variety of incentives for accountants and CPA’s that are in the market for offering additional services to their clients. Kashoo for Accountants provides accountants with a full-featured version of the product at no cost, as well as special pricing for clients. Kashoo also provides accountants with the potential to find more clients by providing accountant referrals to those using Kashoo.
CCH Client Accounting Suite – www.cchsfs.com
CCH Client Accounting Suite is similar in scope to Accounting Power. Client Accounting Suite is designed for professional accountants that wish to offer comprehensive bookkeeping services to their clients. Clients are given access to the Client Checkbook, where they can record both daily deposits and any checks or other expenses occurred. This information can then be imported from the client, where additional information and journal entries can be processed by an accountant, later exporting the journal entries back to the client.
In addition, accountants can import client data from other applications such as QuickBooks and Sage 50. Modules included with Accounting Power include GL, AP, AR, After-the-Fact Payroll, and Trial Balance. Client Accounting Suite is also available with a complete payroll option. For those with Spanish speaking customers, the product offers Charts of Accounts with account descriptions in Spanish, and will also produce financial statements in Spanish.
Thomson Reuters Accounting CS – www.cs.thomsonreuters.com
Thomson Reuters Accounting CS is designed for CPA firms, and offers those firms GL, Trial Balance, Bank Reconciliation, AP, AR, Financial Statement Reporting, Client Bookkeeping, and Payroll Tax Compliance. The product can be used with a variety of client types, and offers complete flexibility, including multiple reporting periods. Accountants can choose the services that their clients have available, such as check writing and payroll entry and processing.
System access is available using Accounting CS Client Access, which provides clients with 24/7 system access where they can record activity directly into the accounting system. Access is provided via dashboards, with Home, Firm, Client, and Staff dashboard views available. Data can also be imported from QuickBooks for processing as well.
NetSuite – www.netsuite.com
Along with their current Enterprise Resource Planning (ERP) product, NetSuite also offers a program aimed directly at accountants whose clients are currently using NetSuite. The Account Program allows firms to remotely support their NetSuite clients, providing the ability to easily monitor key financial processes and reports. Other benefits include discounted training, complimentary membership in the NetSuite user group, and commission eligibility if referring current clients to NetSuite.
While NetSuite is designed for larger businesses with more complex financial reporting needs, the NetSuite market continues to grow, and may be worthy of consideration down the road.
See inside June 2016
2016 Review of Small Business Accounting Systems
No longer a cumbersome, expensive investment, modern accounting software is designed to appeal to the entrepreneur that has little time to spare on simply running a business, and would rather focus on growing that business.