CPA Practice Advisor

JUN 2016

Today's Technology for Tomorrow's Firm.

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SMB ACCOUNTING SYSTEMS 20 June 2016 • www.CPAPracticeAdvisor.com CLOUD Small Businesses Have Many Accounting Options By Mary Girsch-Bock W hile the reviews included in this issue ofer a good selection of both on-premise and cloud products that can work well for small to mid-sized businesses, there are other alternatives available to accountants and CPAs who wish to ofer bookkeeping and accounting services to their clients. Here are a few options to consider: Kashoo www.kashoo.com Kashoo can be a great, afordable option for clients with minimal accounting needs. Kashoo allows users to create invoices from either a desktop or mobile device, track expenses, with users able to simply scan receipts into Kashoo. A dashboard is available in the product, displaying income, expenses, receivable bal- ances, and payables. Bank account sync capability provides users with an up-to-date bank balance, and decent reporting options are available as well. Kashoo is available for both business owners and accountants, and the product ofers a variety of incentives for accountants and CPAs that are in the market for ofering additional services to their clients. Kashoo for Accountants provides accountants with a full-featured version of the product at no cost, as well as special pricing for clients. Kashoo also provides accountants with the potential to fnd more clients by providing accountant refer- rals to those using Kashoo. Wolters Kluwer CCH Client Accounting Suite www.cchsfs.com Te Wolters Kluwer CCH Client Accounting Suite is designed for professional accountanting frms that want to ofer comprehensive bookkeeping services to their clients. Clients are given access to the Client Checkbook, where they can record both daily depos- its and any checks or other expenses occurred. Tis information can then be imported from the client, where additional information and journal entries can be processed by an accountant, later exporting the journal entries back to the client. In addition, accountants can import client data from other applications such as QuickBooks and Sage 50. Modules included with Client Accounting Suite include GL, AP, AR , Afer-the-Fact Payroll, and Trial Balance. Client Accounting Suite is also available with a complete payroll option. For those with Spanish speaking customers, the product ofers Charts of Accounts with account descriptions in Spanish, and will also produce fnancial statements in Spanish. Thomson Reuters Accounting CS www.cs.thomsonreuters.com Tomson Reuters Accounting CS is designed for CPA frms and ofers those frms GL, Trial Balance, Bank Reconciliation, AP, AR , Financial Statement Reporting, Client Bookkeeping, and Payroll Tax Compliance. Te product can be used with a vari- ety of client types, and ofers complete fexibility, including multiple reporting periods. Accountants can choose the services that their clients have avail- able, such as check writing and payroll entry and processing. System access is available using Accounting CS Client Access, which provides clients with 24/7 system access where they can record activity directly into the accounting system. Access is provided via dashboards, with Home, Firm, Client, and Staf dashboard views available. Data can also be imported from QuickBooks for processing as well. NetSuite www.netsuite.com Along with their current Enterprise Resource Plan- ning (ERP) product, NetSuite also ofers a program aimed directly at accountants whose clients are currently using NetSuite. Te Accountant Program allows frms to remotely support their NetSuite clients, providing the ability to easily monitor key fnancial processes and reports. Other benefts include discounted training, complimentary mem- bership in the NetSuite user group, and commission eligibility if referring current clients to NetSuite. While NetSuite is designed for larger businesses with more complex fnancial reporting needs, the NetSuite market continues to grow, and may be worthy of consideration by smaller businesses down the road. ● BEST FIT Xero is a great fit for micro- businesses, sole proprietors, freelancers, and contractors looking to implement an accounting system. PRODUCT STRENGTHS • Ofers integration with hundreds of apps suitable to just about any industry • Product is now available in 5 versions • Product can be accessed by unlimited users • Product ofers good export capa- bility to a variety of applications POTENTIAL LIMITATIONS • Product nav igation may be confusing to new users SUMMARY & PRICING Xero is a good ft for small busi- nesses. Truly designed to be used on mobile devices, mobile users in particular will appreciate the easy navigation and ease of use. Xero is now available in several versions. Te starter version of Xero is avail- able for $6.30 per month for the frst six months. Te starter version has limits on the number of invoices and bills that can be processed and does not ofer payroll functionality. Te Standard and Premium ver- sions have no invoicing or billing limitations, but do limit the number of employees that can be paid. www.Xero.com Xero Online Accounting Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor.com/12213829 5 2016 OVERALL RATING

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