AccountEdge Basic offers true, hassle-free double-entry accounting
Macworld - Managing financial information is, by far, my least favorite part of being in business for myself. Dont get me wrong, I like the money, but time tracking, invoicing, bill collection, monthly statements, and expensesall a necessary part of the business processrequire far more attention than I want to give. Which is why its important for me to have the kind of financial business tools that make painful processes less painfulor ideally, painless.
Acclivitys entry-level AccountEdge Basic (Mac App Store link), which replaces the companys FirstEdge application, is a great tool for managing your business financial information, providing everything you and your accountant need to track your cash flow and keep tabs on your business financial health. As an entry-level business accounting application, AccountEdge Basic has a lot to offer, although it is missing features necessary for its niche.
All of Acclivitiys accounting products have a stripped-down feel that can, when compared to other business accounting applications, initially seem intimidating. AccountEdges flowchart interface has seen very little change for more than a decade, which makes it feel familiar, but it may also feel a bit dated. That said, it works. And weve all seen apps where so-called UI innovation has done more to hurt rather than enhance an application.
At its heart, AccountEdge Basic is a true double-entry accounting system, which may keep your accountant happy. Youll need at least a rudimentary understanding of basic double-entry accounting terms to avoid any confusion. This isnt to say that you need to be a CPA, but you will want to understand the differences between asset, liability, income, and expense accounts, and youll need to know this as soon as you start setting the program up. To that end Acclivity offers several useful documents, videos, and support options to help you get started. Once you get through the initial setup and gain an initial understanding of what youre doing with the application and why, AccountEdge Basic allows you to effortlessly create invoices and track your income and expenses.
AccountEdge Basic offers several new features and enhancements, the first of which is a binary that allows you to run the application on systems running Lion and Mountain Lion. There is also an easy upgrade path to the Pro version of AccountEdge, so if your business grows in ways that require the Pro featuressay, for example, simultaneous multi-user access to your company fileyou can do that with ease. AccountEdge Basic can process credit card transactions, and you can also tie it to and import data from an Enstore online Web store). You also have access to AccountEdges OfficeLink feature, a tool that allows you to take financial and customer data from AccountEdge and export it into a special set of Microsoft Excel and Word documents.
AccountEdge Basic also lets you sync data with the AccountEdge iOS apps when used in conjunction with a Dropbox account. Otherwise, most of the other improvements are minor tweaks to things that are under the covers, such as field sizes for email messages and notes, and better automatic matching of imported transaction data from your bank.
AccountEdge Basic has one major missing feature that significantly limits its usefulness and reveals a basic misunderstanding of the kinds of users who may need an accounting application such as AccountEdge Basic: Time tracking and billing. There are many small business users, myself included, who require a way to easily track the time they spend on a project and then quickly turn that tracked time into an invoice. AccountEdge Basic doesnt offer anything like this. For that youll need AccountEdge Pro, which comes with a premium price tag and includes a host of features unnecessary for the majority of smaller businesses.
AccountEdge Basic is an excellent business accounting application that offers true, hassle-free double-entry accounting. An easy upgrade path to AccountEdge Pro means that your accounting application can grow as your business does, but missing time tracking and billing options make it a non-starter for the kinds of businesses that may need this application most.
This local bank has an old-fashioned two-story lobby and its own mainframe upstairs -- and a disaster waiting to happen.
- IT Certification Study Tips
- Register for this Computerworld Insider Study Tip guide and gain access to hundreds of premium content articles, cheat sheets, product reviews and more.
- The Big Data Opportunity for HR and Finance
- If CEOs, CFOs, CIOs, and CHROs want to drive their businesses forward, they will need to quickly recognize the enormous value of big...
- Datacenter eGuide
- Read on to learn what technologies are essential for high-performing data centers today, and to get a glimpse of what the data center...
- EndPoint Interactive eGuide
- In this eGuide, Network World, Computerworld, and CIO examine two endpoint trends - BYOD and collaboration - and offer tips and advice on...
- The Business Value of Continuous Delivery
- Download this whitepaper to learn more about the business value of Continuous Delivery and see why it could be a game changer for...
- Ten Factors Shaping the Future of Application Delivery
- Download this research report conducted by Enterprise Management Associates (EMA) to learn how those that are seeking to accelerate application delivery are leveraging... All Financial IT White Papers
- Transform Your IT Service Management Watch this webinar, to learn how EasyVista can increase IT productivity & efficiency and deliver streamlined & integrated IT Service & Asset Mgmt.
- IBM FlashSystem V840: Leveraging Software-Defined Flash to Drive Your Business With end-to-end, tightly integrated functionality and super-fast flash technology, products like IBM FlashSystem V840 Enterprise Performance Solution empower businesses to leverage the efficiency...
- Leveraging Flash Storage to Accelerate Oracle Real Application Clusters Join this webinar to understand the latest solid-state storage trends, the specific applications driving solid-state storage deployments and the benefits of deploying the...
- Top 4 Digital Signage Fails Join RMG Networks for a look at four of the most common reasons digital signage fails in corporate businesses. Learn about strategies to...
- All Financial IT Webcasts