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Accounting & Audit

2020 Review of AccountingSuite

accountingsuite

Accounting Suite

www.accountingsuite.com

From the 2020 reviews of small business accounting systems.

AccountingSuite is designed for small to mid-size businesses. Accessible from the cloud, AccountingSuite offers cloud banking, accounting and reporting, purchasing, project and time tracking, inventory management, and cloud commerce capability, with users able to choose the modules they wish to use. AccountingSuite Screenshot


AccountingSuite’s user interface is pleasantly designed, with workflow areas displayed for  Accounting/Banking, Sales, Purchases, Inventory, Project/Time Tracking, and Support. Any areas that are not available in the plan subscribed to are displayed but grayed out.  A vertical menu bar offers quick access to all system features, though it takes you to a basic list of features, which is unexpected. In other areas, it feels as if the application is more complicated and requires more steps than it should in order to perform relatively minor tasks.

Data entry screens in AccountingSuite are easily navigated with users able to create a new transaction easily. Additional options at the top of the screen include the ability to email, print, or show a transaction, as well as add an attachment to any transaction. New users can be up and running quickly by importing current customer, vendor, and inventory data into the application.  

Core Accounting Capabilities: 5 Stars

AccountingSuite includes a standard chart of accounts that may be edited to better suit the needs of a business. A current chart of accounts can also be imported into AccountingSuite or can be copied from one business account to another. In addition, users can easily create sub-accounts for any account listed in the chart of accounts.  Journal entries are supported in AccountingSuite, with users able to reverse a journal entry, or create a recurring journal entry when necessary. Users can also attach supporting documentation to any journal entry recorded.

AccountingSuite users can create a budget that can include specific accounts or all accounts in the general ledger, with the ability to create a monthly or yearly budget. The application also includes an audit log which displays all system changes and the users that made the changes.

AccountingSuite includes a comprehensive Purchasing module, with features such as  Purchase Orders, Item Receipts, Bills, Bill Payments, and Purchase Returns available. Both supplier and vendor invoices can be entered in the module, with users able to classify line items in order to expense them to various projects. In addition, the item receipt option can be used to document goods received, and it will adjust inventory totals accordingly. Users have the option to enter a bill payment directly from the bill screen, with a variety of bill payment options available including check, cash, and credit card, and users are able to delete a bill payment, or make partial payments as needed.

The Sales module handles all product sales from initial quote to shipment of goods, with users able to process customer credit memos in the sales module, and enter partial payments as well. Users can process statements for customers that display activity for a specific time frame, and appropriate sales tax can be applied to all orders by calculating sales tax in AccountingSuite or by integrating with AvaTax.  

Custom fields can be added for both customers and vendors for tracking of additional data. AccountingSuite does not offer a payroll option but does integrate with both ADP and SurePayroll.   

Relationship Management: 4.5

AccountingSuite users can track both customers and vendors in Customer/Vendor Central, which offers a list of both, identifying whether they’re a customer, a vendor, or both. Unfortunately, the list is compartmentalized, so you’ll have to click on each section of the customer or vendor, such as address, that you want to view. Users can easily view a list of all current activity on each account, enter projects, or add notes to any file. Users can also view invoices, show payment dates, and access credit card and tax I.D. numbers for each customer or vendor.

Cloud Capability: 4.75

AccountingSuite is a cloud-based application, with users able to access the entire system from anywhere with Internet connectivity. Users have the option to connect the application to any bank accounts or credit cards, with the connection process completed during product setup. In addition, AccountingSuite integrates with PayPal, ShipStation, Stripe, and Zapier for instant connectivity to hundreds of apps. In addition, AccountingSuite integrates with BillerGenie, which helps to automate the invoicing process and allows businesses to accept electronic payments.

Management Features: 4.75 Stars

AccountingSuite offers decent reporting options with Accounting, Inventory, Bank, Project/Time, Sales, Purchases, and Tools categories available. Report customization is available for each report, with an option to create various filters, design a header or footer, or change the format altogether. Reports available in AccountingSuite include Income Statement, Trial Balance, Balance Sheet, Statement of Cash Flows, Budget vs. Actual, and a General Ledger report. A 1099 report is available as are A/R and A/P aging, along with vendor payments and a payment register. All reports can be emailed to recipients directly from the print screen or exported to Microsoft Excel for customization.  

Tech Issues: 4.75 Stars

AccountingSuite is a complete financial application, with all modules designed to integrate. In addition, AccountingSuite offers integration with a variety of third-party apps including Stripe, Zoho CRM, Webhooks, Bill.com, Biller Genie, as well as Zapier, Stripe, PayPal, and Avalara.  

AccountingSuite offers excellent help and support options, with access to help functionality from every data entry screen. The support page in AccountingSuite offers access to user guides, short videos, as well as the support portal, where users are able to ask questions, browse recent tech issues and request support. Product support is available during regular business hours and the Beginner Bootcamp takes new users through the basics. Both live and pre-recorded webinars are available, and AccountingSuite offers various training options for new users to take advantage of.  

Summary & Pricing

AccountingSuite is a good solution for smaller businesses with up to 99 system users that are looking for an all-in-one accounting solution. AccountingSuite currently offers four plans:  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.

2020 Star Rating – 4.75 Stars