Today's Technology for Tomorrow's Firm.
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REVIEWS: VIRTUAL CFO PLATFORMS Te current write-up application for the Tomson Reuters CS Suite of applications for professional accounting frms is a relatively new product called Accounting CS. STRENGTHS • Used by thousands of practitioners around the US, and is the successor tool to the ver y successful (and dis- c o n t i n u e d) C r e a t i v e S o l u t i o n s Accounting application. • E xcel lent solut ion for produc t ion write-up and collaborative accounting with clients, and integrated with the other solutions in the CS Suite. • The product is designed for heads- dow n data ent r y a nd h ig h volu me processing, and has an atractive user interface. • Accounting CS puts the accountant in total control of the sof ware, and user access can be set for each func- tion and menu option. Te product is t r a d i t i o n a l l y p r o v i d e d b y a n a c c ou nt i n g , b o ok k e e pi n g , or t a x prof e s s ion a l , a nd no ser v ic e s a re directly marketed to a frm's clients. POTENTIAL LIMITATIONS • Does not have direct integration for automatic fnancial institution/credit c a rd t r a n s a c t ion s , a lt hou g h d at a exported from a bank can be manually imported into the sofware. • Li ke most products in t h is rev iew, A c c ou nt i ng C S doe s not s uppor t multiple currencies. • A n ecosystem of add-ons for specifc business management needs, such as CR M, manufacturing, and inventory w h ic h i nt e g r at e w it h t he d a t a i n Accounting CS is not available. • P a y r o l l i s c a l c u l a t e d i n a n o t h e r application, Accounting CS Payroll, or ca n be outsou rced to T homson Reuters (MyPay Solutions) or third- parties (A DP, Paychex, and others). • Limited tools are available in the CS Su ite for d isplay i ng non-f i na nc ia l metrics, benchmarking, and creating d a s h b o a r d - s t y l e r e p o r t s u s i n g Accounting CS data. • Accounting CS can be purchased as part of Virtual Ofce CS, the Citrix- hosted version of the CS Suite applica- tions, as part of their Sof t ware as a Service package, or can be purchased f rom T hom s on R e ut e r s f or lo c a l installation. Pricing is available upon request f rom T homson R euters at 800-968-8900. SUMMARY AND PRICING Te current write up application for the Tomson Reuters CS Suite of applications for professional accounting frms is a relatively new product called Accounting CS. Although this application can be installed on a local computer for use by a virtual accounting department, this application can also be run using traditional remote hosting or web-based interfaces. Te product fts best for service-based companies and frms that have very tight accountant-client relationships and that need the accountant to have control of the general ledger and related security permissions. ACS is a collaborative accounting application which has been created in the image of a traditional write-up application. Accounting CS is bundled with tools for afer the fact payroll, and is priced starting at $2,900. Other features such as client data access and live payroll are priced separately. www.thomsonreuters.com Thomson Reuters Accounting CS Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor.com/11293446 For more information, please visit CPAPracticeAdvisor.com/10028044 cpa_6-9_VirtualCFO Review.indd 9 2/5/14 11:41 AM