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Accounting & Audit

2020 Review of CenterPoint Accounting

RedWing[1]

CenterPoint Accounting

Red Wing Software

www.redwingsoftware.com

From the 2020 reviews of small business accounting systems.

CenterPoint Accounting, from Red Wing Software is best suited for small to mid-sized businesses and is offered as an on-premise application or via the cloud. In addition to its business accounting application, CenterPoint also offers Fund Accounting, Municipal Fund Accounting, and Farm Accounting versions, CenterPoint includes a payroll application that can be used with all applications.  

CenterPoint Accounting has a drop-down menu bar at the top of the user interface that offers easy access to system features including File, View, Processes, and Reports. Colorful icons directly below the menu bar offer access to numerous system features. The interface is completely customizable with users able to add frequently accessed features to the Quick List, which is located to the left of the main screen. CenterPoint is designed to work on a Windows platform and does not currently work on any Mac operating systems.

Core Accounting Capabilities: 4.75 Stars

CenterPoint Accounting includes a flexible account structure that allows up to 22 characters when creating account names, with sub-accounts supported as well. Users can easily customize the default chart of accounts or import a current chart of accounts if desired. 

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CenterPoint Accounting records all transactions in real time so all reports and other data will always reflect the most recent information. AP features in CenterPoint include the ability to add a new vendor on the fly, check for a duplicate invoice, edit a transaction, and manage vendor credits. Customer management and tracking is also included in CenterPoint, with users able to enter both paid and unpaid invoices as needed. Users can choose to print and mail invoices and statements or email them to customers. The application will also track multiple sales categories with users able to set up taxes for multiple jurisdictions and assign tax types to each customer.

CenterPoint Payroll is an optional module which is purchased separately, with the payroll module integrating with the core accounting application. The payroll module supports payroll for an unlimited number of companies and employees, and includes an e-filing option for filing and remitting payroll taxes.

CenterPoint also includes a Sales module, but currently does not offer point of sales functionality. The application also includes audit trail functionality, with system access dates, changes, additions, and deletions all tracked. The program does not currently offer multi-currency capability.

CenterPoint Accounting users can create customer quotes, with sales orders able to be partially filled as needed. An inventory module is also included in the application that offers unlimited pricing levels for each product entered, with multi-location inventory supported. The application also includes a sales order module that tracks both quotes and customer orders. Users also have the option to create a purchase order directly from a sales order if desired. Sales orders can be partially filled, with any unfilled portion automatically becoming a backorder until a product is in stock. Both         quotes and orders can be easily modified using the Forms Designer option, which provides easy customization options for all forms.

The Purchase Order module in CenterPoint Accounting offers a ‘suggest orders’ function that allows users to suggest a variety of sales options based on customer purchasing history. The application also includes asset and liability tracking, which can be used with the core accounting application or as a stand-alone asset management application.  

Relationship Management 4.75 Stars

Both vendor and customer information are easily managed in CenterPoint Accounting, with users able to track additional information using the user-defined fields that are available in the application. Both vendors and customers can be added on the fly, and terms can be added to any customer account along with the ability to add credit limits and discounts for each customer.  

Cloud Capability 5 Stars

CenterPoint Accounting now offers cloud-access, so users will be able to choose the deployment method they prefer. The CenterPoint Accounting cloud program is identical to the on-premise application.

Management Features: 4.75 Stars

CenterPoint Accounting includes a number of management features for small to mid-sized businesses including the Ratios Module, which includes a number of standard ratio calculations, all designed to provide financial details. All ratios offer complete drill-down capability, with users able to view the numbers behind the calculations. Ratios available include Current Ratio, Accounts Receivable Turnover Ratio, Debt to Equity Ratio, and Gross Profit Ratio. CenterPoint Accounting also includes a good selection of reports, with reports available in a variety of categories including Transaction reports, Production reports, Fixed Asset reports, Audit reports, and Payroll reports. CenterPoint Accounting also includes complete financial statements, income statements, balance sheets, and cash flow statements.

Clicking on the report category displays a list of available reports. Once a report is selected, the report selection screen appears, which allows users to set reporting formats. All reports can be viewed on screen prior to printing, customized as needed, or exported to Microsoft Excel for further customization options. In addition, all reports can be saved as a PDF if desired.  

Tech Issues: 4.75 Stars

CenterPoint Accounting modules all integrate seamlessly. Along with farm and fund accounting, CenterPoint Accounting also offers a payroll application as well as a depreciation application, with both integrating with the core accounting application. New users can take advantage of the online training option offered by CenterPoint Accounting, and a variety of on-demand training videos can be viewed. Classroom style training available as well. 

CenterPoint Accounting offers a Customer Care Membership option, with Silver and Gold level membership available. Membership benefits include unlimited access to the support center, all product updates and maintenance releases, and discounted training options, and the Gold level offers a ‘next technician’ guarantee as well as a one-hour online training session. Users can access help from any user screen in CenterPoint Accounting, and all product support is U.S.-based.

Summary & Pricing

CenterPoint Accounting is a good fit for small to mid-sized businesses that are looking for an all-in-one accounting application. Those interested in CenterPoint Accounting view a demo online or request information about pricing details directly from Red Wing Software.    

2020 Star Rating – 4.75 Stars