There are many accounting practice management software packages available in the market to make an accountant’s work easier. But people, who are in charge of selecting the right software package, can’t choose the one if they don’t know much about these accounting software packages.
We have provided this review just for you. If you are also in this situation, then this article will prove helpful for you.
ZOHO
With usability and a great deal of flexibility, Zoho Books is an online accounting software to seamlessly manage finances, automates workflows and much more. Right from negotiating deals to raising sales orders, to invoicing, Zoho Books handles day-to-day accounting tasks so that accountants can focus on helping clients.
Here are Features of Zoho Books
- Make your clients’ transition into MTD smooth.
- File VAT Returns directly to HMRC.
- Bookkeeping related areas, such as sales and purchases, time and project tracking, and inventory management.
- 40+ apps to manage and run each and every aspect of the business, anytime, anywhere.
- Efficient tracking of payments, create and send purchase orders, as well as upload expense receipts.
- Keep track of inventory levels at all times, as well as organize vital information about inventory.
- Set rules to categorize banking transactions and reconcile transactions.
- Create and manage your customer and supplier contacts.
- Adjust the finance management to their project structure and manage projects from any device
TaxCalc
TaxCalc is an Award-winning tax and accountancy software with the aim to make filing your taxes as simple as possible. It comes with high-quality software specifically designed for accountancy practices, tax advisors and finance professionals. Taxcalc is officially recognised by HMRC.
Here are Features of TaxCalc
- Bridges the gap between clients’ digital bookkeeping records and your VAT return for submissions to HMRC’s MTD service.
- Efficiently prepare VAT returns and be fully prepared for MTD.
- Built to handle all iXBRL tagging automatically, prepare financial statements fr limited companies, LLPs, sole traders, and partnerships.
- Create and update forms in case there are changes made to client data.
- GDPR compliance solution for accountants in practice. Help document firm’s personal data policies and procedures to demonstrate compliance and respond effectively in case of a Data Breach or a Data Subject Access Request.
IRIS
IRIS is the UK’s market leading provider of business-critical accountancy software solutions for accountants in business and practice and solutions. With a UK-only focus, IRIS software and solutions serve a wide range of clientele right from accountancy practice, small businesses, and payroll bureaus across different industries.
Here are features of IRIS
- IRIS provides a comprehensive range of solutions aimed at transforming how you engage and connect with prospects and clients, as well as compliance solutions.
Increases efficiencies in the Audit process. - Cloud bookkeeping solutions, as well as payroll solutions to suit all business sizes.
- Assist chartered accountants and firms meet regulatory demands due to changes such as Brexit, MTD, FRS, AML, and GDPR.
- Advise clients on better management of wealth and assist in key business decisions to increase the appeal of an Accountant’s services.
NetSuite ERP
NetSuite ERP is essentially a customer relationship management (CRM) solution, but the platform can be used for sales and marketing automation, as well as order management and customer support. It offers a myriad of tools and features to make financial management simple.
Standard features include pre-configured dashboards that can be customized by users for their specific needs. NetSuite ERP also offers robust automation and scalability features. It can grow with your company and automate processes such as financial management, order management, revenue management, fixed assets, inventory management, and billing.
The vendor offers a great demo of the product that will introduce you to all key features.
Try out NetSuite ERP with their free trialVISIT WEBSITEFREE DEMO
Another great thing about NetSuite ERP is that it comes with great reporting features. For starters, users can easily customize their view of key performance indicators and generate reports that are specific to their role in the company. They can also track vendor performance and monitor inventory levels, allowing them to further improve the customer experience.
Detailed NetSuite ERP Review
UltraTax CS: Best Tax Software for CPAs Using CS Professional Suite
The biggest advantage of UltraTax CS is that it is part of Thomson Reuters’ CS Professional Suite, which is an integrated system of more than 15 programs that can be used to manage your firm’s accounting and auditing practice, payroll solutions, workflow management, and client portal. If your firm is growing and in need of an integrated management solution, UltraTax CS, as part of the CS Professional Suite, might be a good fit for you.
 | Pros: | Cons: |
| Integrates with CS Professional Suite for client and firm management | No upfront pricing for over 100 returns | |
| Visit UltraTax CS | View program and forms on up to four monitors | No pay-per-return package for very small practices |
| File any type of business or individual return with the custom priced package | Allowing clients to sign Form 8879 electronically requires an extra fee | |
| UltraTax CS PricingUltraTax CS Express 100: $2,500 for 100 returns (only 25 can be business returns)One user onlyBusiness returns available are Forms 1120, 1065, 1041, and 990Includes 10 state programsIncludes an unlimited a subscription to Checkpoint Learning Professional CPEUltraTax CS: Custom pricing onlyPlans can be purchased for unlimited users, returns, and states |
Our Expert Opinion
UltraTax CS is a high-end professional tax program from Thomson Reuters. It’s incredibly powerful and will certainly save some time compared to less-expensive programs when you get to complicated areas like multistate and consolidated returns. The downside is that it is expensive. While it does have a moderately priced option for up to 100 returns, it only allows a single user and 25 business returns.
Quickbooks
Intuit’s QuickBooks provides in-depth accounting paired with an intuitive interface that helps businesses manage their accounting and finances. There are three main versions of QuickBooks. QuickBooks Online has become one of the most widely used accounting suites on the market today, and QuickBooks Desktop is the legacy accounting software. The Enterprise Solutions Suite offers the same as Online or Desktop, but with the capacity to handle accounting and finance for the large businesses.
FreshBooks
FreshBooks offers cloud-based accounting solutions for small businesses. The cloud accounting software is ideal for service-based businesses such as therapists, architects, lawyers, plumbers, and more. It’s intuitive and user-friendly and is available on all your devices. Your FreshBooks accounts go with you and is are accessible 24/7. It reduces the time you spend billing so you can get down to business. It tracks your time and accepts payment from 12 different gateways.
Xero
By making accounting simple for small business owners, Xero is a fantastic timesaver. Xero Practice Manager allows accountants and bookkeepers to connect different data sources and gain better visibility over the entirety of their business. The need for manual data entry of bank transactions is eliminated, as they are now fed automatically into this online accounting software. Bills can be paid with just a few clicks, and your cash flow can be viewed any time, from anywhere.
SAP Concur
SAP Concur gives businesses the power to automate, connect, and simplify their expense, travel, and AP processes. Automate expense management and take control of spending, no matter where it happens. Automate invoice processing with SAP Concur to gain speed and efficiency – plus a new way to monitor and manage spending to maximize your profitability. SAP Concur has the tools and extensive network of travel suppliers needed to help organizations of all sizes reach their travel and expense goals.
Wave
Wave is an accounting software with a free and paid version that helps you truly understand and manage your income and expenses. Track everything such as payroll, payments, and invoicing. It’s all automated and in one package. Wave’s invoice software enables you to easily create and send professional invoices, with advanced features like recurring billing and automatic payments. Run your payroll in minutes, with 100% accuracy, and say goodbye to the unnecessary stress of payroll taxes.
Oracle NetSuite
NetSuite cloud financials and accounting software helps finance leaders design, transform and streamline their processes and operations. NetSuite seamlessly couples core finance and accounting functions, which improves business performance while reducing back-office costs. With real-time access to live financial data, you can quickly drill into details to quickly resolve delays and generate statements and disclosures that comply multiple regulatory financial compliance requirements.
Learn more about Oracle NetSuite
BigTime
BigTime is an online time and billing solution designed to serve professional service firms like accounting, engineering, government contracting, legal and IT services. The integrated solution offers features like time and expense tracking, WIP management, task & workflow management, invoicing, billing and more. Employees can submit expenses through the online portal or directly from their mobile devices and attach scanned receipts.
BQE Core
BQE Core is a comprehensive project accounting solution for professional services firms. Its robust management, time and expense tracking, billing, and accounting capabilities allow for easy collaboration and streamlined workflows. These features enable smarter decision-making, increased efficiency, and improved profits. Core’s accounting module lets you write checks, reconcile accounts, create balance sheets, connect to bank and utility feeds for automatic reconciliation, and more.
Conclusion
Accountants and tax professionals often take a long time to enter the industry, hence there is a lot of catching up to do once they finally start working. And depending on the type of accounting firm you work for, you might have to contend with a lot of tedious tasks that aren’t necessarily related to the job at hand.