By: Barry Macquarrie
Blog Series: Post 3 of 4
There is not room enough in this publication to cover all of the details of the 50 plus products that are available. This article includes details about several of the products that you might see at an accounting conference, or read about in an accounting publication. The following products appear in alphabetical order.
Intacct offers a full suite of accounting products that serve customers, ranging from small businesses to multinational organizations. It serves several different industries including accounting firms, faith-based organizations, franchises, healthcare, non-profits, and service organizations. Intacct has partnered with CPA2BIZ, to offer an Accountants Edition, which can be used as a cloud solution for accounting firms and their clients.
Kashoo refers to itself as “simple cloud accounting.” It is looking for customers that want to replace QuickBooks, Excel spreadsheets, and shoeboxes full of receipts—i.e. small businesses. Its product includes a dashboard that provides an overview of your financial results and quick access to invoicing and data entry screens. It encourages accountants and bookkeepers to join its MVP program, which includes dedicated support and training.
NetSuite offers “one cloud solution for your entire business.” Its product includes Accounting/ERP, CRM, PSA, and e-commerce components. NetSuite (NYSE: N) was founded in 1998, and was originally known as NetLedger. There are a number of third-party solutions for NetSuite. The company has an accountants program that allows accountants to support their customers using NetSuite. This program also includes training and referral opportunities.
QuickBooks Online is the cloud version of the very popular accounting product from Intuit. This product provides small business owners and accountants with the ability to collaborate online. It is positioned to serve small businesses and offers import tools to convert data from the desktop version of QuickBooks. The Intuit website offers a chart which allows you to compare the features of the desktop and online versions of QuickBooks. The QuickBooks ProAdvisor program provides accountants with free software, training, and certification on the QuickBooks products.
Wave is focused on serving businesses with nine or fewer employees. Its solution includes modules for invoicing, accounting, payroll, and personal finance. Price is one thing that differentiates Wave from its competitors, as it offers many of its modules for free—a price that is obviously attractive to most small businesses! The Wave Pro Network seeks to connect accountants and bookkeepers to small business owners.
Xero offers a cloud accounting solution that includes invoicing, bill pay, expense claims, multi-currency, financial reporting, depreciation, and more. The product includes a dashboard that can be used by accounting professionals to access their clients’ accounting records. There are third-party applications, which offer solutions for CRM, inventory management, e-commerce, and many others. The Xero Partner Program provides accounting professionals with training, software marketing leads, and support.
Barry MacQuarrie, CPA is a Consultant and the Director of Technology at KAF Financial Group. Barry combines his knowledge of accounting and technology to provide consulting services focused on cloud accounting solutions. His areas of expertise include accounting software, process improvement and technology management.