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Accounting & Audit

2019 Review of AccountingSuite

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Accounting Suite

www.accountingsuite.com

From the July 2019 reviews of small business accounting systems.

AccountingSuite is a good fit for sole proprietors, freelancers, and small businesses that are looking for scalability and anytime/anywhere access. An all-inclusive application, AccountingSuite includes complete GL functionality as well as Time and Project Tracking, Customers/Vendors, Inventory, Purchasing, Sales, and Cloud Banking modules. Users can choose to use all modules, or access only those needed.

AccountingSuite is completely cloud-based, with no installation necessary. The AccountingSuite user interface offers intuitive system navigation, with a menu bar at the top of the screen providing access to all system modules. The main menu also includes a variety of shortcuts to functions such as history, universal search, function search, an open items tab, and the tools panel.  Data entry screens are uncluttered and offer easy look up options throughout. Each screen also contains forward and backward buttons, making it easy to navigate between pages. To get started, users can easily import customer, vendor, and inventory data from another application directly into AccountingSuite for a more streamlined setup process.

Core Accounting Capabilities: 5 Stars

AccountingSuite does not include a default chart of accounts, but instead, makes it easy to set up a chart of accounts that is designed specifically for each particular business. Users can easily process journal entries and create recurring journal entries in the application. Supporting documents can also be attached to any journal entry.  AccountingSuite also offers a budget tool, where users can create a yearly budget. An audit log is also available for users to view any changes made to the system, as well as who made the changes and when they were made.

AccountingSuite offers a complete Purchase Order module, where users can create and track all purchase orders. The item receipt function records all items, along with quantity and time of arrival and also handles purchase returns for any items returned to a vendor. Users can easily manage vendor bills in the application and enter a recurring bill when necessary. A variety of bill payment methods are supported, including check, cash, and credit card, and users can delete a bill payment, or make partial payments as needed. The Sales module handles all product sales, and posting of cash receipts, including both overpayments and partial payments. Refunds made to a customer can also be handled. And credit memos issued as needed. Users can also process statements for all of their customers, which display activity for any given period of time, with the ability to create a single statement, or one for each customer. When entering bills, users can choose to calculate sales tax using only AccountingSuite, or by integrating with AvaTax for more in-depth sales tax tracking.

Users also have the ability to create custom fields for customers, vendors, and items for additional tracking capability, AccountingSuite does not currently offer payroll or point of sale capability at this time, but the product does integrate with ADP and Sure Payroll for complete payroll processing. 

Relationship Management: 4.75

AccountingSuite offers solid customer and vendor tracking in Customer/Vendor Central, which provides differentiation between whether an entry is a customer or a vendor, or both. Users can also view the current status of any customer or vendor, including the ability to view any current balances and payment terms. Users can enter credit card information when entering a customer and add tax I.D. numbers and/or social security numbers for tracking 1099 information. AccountingSuite also integrates with Zoho CRM for complete customer management capability.

Cloud Capability: 4.75

To activate cloud banking, users will need to add any relevant bank and credit card information during the product setup process. AccountingSuite will then connect to the bank or credit card company and download transactions to the application automatically, with expense payments, deposit records, and payment records automatically created in the system. AccountingSuite also integrates with Bill.com and Dwolla to automate the payment process, whether paying vendors or accepting electronic funds from a customer.

Management Features: 4.75 Stars

AccountingSuite offers a good selection of standard reports that are categorized for convenience. Reports are located in each module in the application, and offer some customization capability, including paper size, margins, orientation, and scaling desired for each report. Complete financial statements such as a Trial Balance, Income Statement, and Balance Sheet are available, as are standard reports such as a Projects Reports, and a 1099 Report, which tracks all vendors and other 1099 information.  The Customer/Vendor Central feature also offers a variety of customer and vendor related reporting options. AccountingSuite also contains a financial and usage reporting API, that allows users to utilize external reporting and business intelligence tools in order to create custom reports.  All AccountingSuite reports can also be exported to Microsoft Excel for customization if desired.

Tech Issues: 4.75Stars

AccountingSuite is a complete accounting system, with all modules integrating seamlessly. The application also integrates with a variety of third-party applications that are designed to broaden its scope, including payroll applications such as Sure Payroll and ADP, Timesheet Mobile for easy employee monitoring, time tracking, and job costing, and Zoho CRM, which offers complete customer relationship management. Other integrations include Zapier, Stripe, Dwolla, and Avalara.

AccountingSuite offers a variety of help and support options, including the User Guide, which offers a comprehensive product overview, detailed information of application modules and functions available, as well as a variety of short training videos for each feature or module. A support portal is available for system users, where they can ask questions, submit a support request, or browse more recent tech issues, and a test company is available that new users can utilize to become familiar with the application prior to going live. There is also an option to contact the AccountingSuite user community with questions if desired. Product support is available during regular business hours. A variety of training options are also available, with users able to view the upcoming training schedule from the AccountingSuite Academy page.

Summary & Pricing

AccountingSuite is a good solution for smaller businesses with up to 10 system users that desire easy accessibility and product scalability.  AccountingSuite is available in four versions; Startup, a single-user system, is $19 per month, Business, which is a two-user system, is $25 per month, Professional, which is a 5-user system, is $55 per month, and the Professional with e-commerce, is 129 per month. All versions of Accounting Suite offer unlimited CPA/Bookkeeper Seats.

2019 Star Rating – 4.75 Stars