AccountantsWorld – Accounting Power
From the March 2017 review of Invoice Management systems.
AccountantsWorld offers professional accountants complete practice management, payroll, and accounting/bookkeeping functionality. Accounting Power offers complete accounting and bookkeeping functionality for accountants, providing them the features needed to offer these services to clients. Only offered to professional accountants, all AccountantsWorld applications are cloud-based, offering anytime/anywhere access to their users.
Accounting Power offers a single user dashboard, where accountants can easily setup and access all of their clients; managing all of their bookkeeping and accounting functions. Once the user selects a client from the drop down menu, a series of tabs are displayed at the top of the screen, offering access to various system functions including Company, Banking, Sales, Job Costing, Expenses, and other accounting functions. There is also access to reports, system utilities, and other resources as well.
Users can easily customize invoices for each of their clients, with the ability to add customer logos, footer text and messages, as well as specific colors to each invoice. A default invoice template is available, with users able to add details as needed.
Users can create an estimate directly from the custom invoice screen, which is where credit memos can be entered as well. Users can also bypass the estimate option and simply create an invoice from this same screen as well. If an estimate has been entered for a customer, users can also easily convert the estimate to an invoice when necessary. Once an invoice has been entered, it can also be edited or voided from this screen as well. Sales tax information is automatically calculated based on the sales tax information added during the setup process. Users can also opt to make any invoice a recurring invoice by simply clicking on the Make This Invoice Recurring option on the enter invoice screen.
Each individual client has the option to have a merchant service account setup which will enable customers to pay invoices online. While automatic payment reminders are not sent, users can easily process customer statements which reflect all customer activity for a specified period of time.
During customer setup, users can also opt to add a finance charge option with a specified percentage attached to the finance charge.
Reporting options in Accounting Power are excellent, with users able to print a variety of Invoicing and AR related reports including the Invoice Register and the AR Aging report. All reports can be viewed, printed, saved as a PDF, saved to the AccountantsWorld archive or exported to Microsoft Word or Excel.
Though not automated, users can easily bill time for services rendered through the invoicing function, and credits can be applied to accounts as needed.
A complete accounting/bookkeeping application, AR functionality integrates with all other features in Accounting Power, and offers easy integration with other AccountantsWorld applications including Cloud Cabinet, Website Relief, Directory Listing, Practice Relief, and After-The-Fact Payroll. The product also integrates with QuickBooks Online and QuickBooks Desktop, as well as Bill.com.
Accounting Power is an excellent fit for accounting firms that wish to provide bookkeeping and accounting services to their clients. Part of the AccountantsWorld suite of products, Accounting Power is available for $1,195.00 per year.
2017 Overall Rating – 4.5 Stars
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Tags: Accounting, Technology
