TrustRadius Insights for Priority AccountEdge are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.
Business Problems Solved
AccountEdge is a versatile accounting software that is used by various businesses and departments for a range of tasks. With over 20 employees relying on it for accounting and order entry purposes, AccountEdge has become a daily staple in many organizations. Users have praised its ability to track credit card and bank balances, reconcile accounts, and monitor business and household spending. Additionally, the software is commonly used for time tracking, billing, and managing accounts receivable and client retainers.
One of the standout features of AccountEdge is its robust reporting capabilities, which allow users to analyze and review the health of their businesses. It is particularly popular among bookkeeping services companies due to its support for job costing, inventory management, and integrated payroll. Furthermore, AccountEdge offers unique features like third-way transaction categorization and mobile app/web browser access for adding transactions and tracking time.
The software also integrates seamlessly with other programs such as Shopify web stores and Enstore web store software. Users have found value in AccountEdge's adaptability to different business needs, even dating back to its earlier version called MYOB. Its compatibility with Macintosh systems and direct customer support from the company make it a reliable choice for businesses across various industries.
AccountEdge serves as an all-encompassing accounting solution, covering areas such as receivables, payables, payroll, general ledger reporting, taxes, and banking. It caters to the needs of small printing companies by facilitating inventory management, invoicing customers, and service deployment. Moreover, it enables tax reporting and financial analysis for businesses of all sizes.
One user who had been using QuickBooks made the switch to AccountEdge due to its better support for Mac users. It has proven effective in managing payables and receivables for a one-person graphic design company. Another satisfied user includes a small custom frame company with three to four office employees who utilize AccountEdge daily for tasks like bookkeeping, AR/AP processes, invoicing, and maintaining customer information. By keeping all company and customer data organized in one location, AccountEdge offers convenience and efficiency for its users.
AccountEdge Reviews
6 Reviews
Professional, Scientific, and Technical ServicesAccounting4Information Technology & Services1Graphic Design1
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I am a one-person graphic design company and I use AccountEdge to manage my business payables and receivables. It lets me easily input my expenses, assign them to a project, if applicable and then when I am ready to bill the client I can mark-up the expenses and easily bill my clients knowing that I am not forgetting to bill anything.
Pros
Expense tracking
Invoicing clients
Managing banking; reconciling statements
Preparing information for my accountant for quarterly and year-end reports
Cons
Some of the reports could be easier to customize but maybe I just don't know how to do that
It would be nice if there was a way to also link a personal account so I can track all of my expenses in one place (business and personal)
Would also be nice to be able to download credit card statement purchases easily directly into the program instead of having to manually add them
Likelihood to Recommend
I am a sole practitioner, graphic designer and I find Accountedge has been very easy to use. I don't take advantage of the inventory tracking or timesheet capability that it offers but I do use it to easily track and code expenses and invoice clients.
AccountEdge Pro is used by all staff and is the primary base for our inventory, invoicing and service deployment.
Pros
AccountEdge allows us to control our services provided to in the steps from quote complete through invoice delivery.
AccountEdge seamlessly manages our customer base from individuals through to multi-employee and department businesses.
Order creation is simple and easy to understand and deploy
Cons
Transition between yearly version updates/upgrades could be smoother.
Multi-user deployment and use can frequently cause the program/app to crash or continue to display logged out users as logged-in.
Likelihood to Recommend
AccountEdge is very well suited for a blend of a retail and service provider business that has a dedicated need for inventory management and ease of order management from quote through to invoice deployment.
I use AccountEdge for my company's accounting, including billing, accounts receivable, and retainers, accounts payable, and payroll. As a 'lone eagle,' I don't have any staff doing this, I do it myself. I started with it back in 1995, when it was called "MYOB" for "Mind Your Own Business." While the program is available both for Windows and Mac computers, I have always used it on a Mac. I have some clients who have used the PC version; I can work with their data file on my Mac without having to do special backups, because the data file itself is completely cross-platform compatible, unlike some competitive products.
Pros
Some of my clients have had international activity. For them keeping track of transactions in currencies other than the US dollar has worked very well, though it does mean having to have a history of exchange rates handy to get the correct rate for a transaction date.
The new "Retainers, Escrows, and Trusts" feature (since 2013) has been a welcome addition. I use it for clients who have prepaid for my services.
I make extensive use of the ability to export reports to Excel templates. Creating an Excel table from the export file, and then using Pivot Tables, I can summarize data in ways that expand what AccountEdge can do. For example, I can summarize cash receipts by payment type, and tie to the Forms 1099-K that the credit card companies send.
Another new feature I have started using is "Pay Payroll Liabilities." It provides an easy "check-off" of the taxes or other payables to specific agencies.
I love the ability to custom-design the chart of accounts. In most circumstances having four levels of detail is sufficient. But sometimes it would be nice to have another level or two, especially for manufacturing businesses. And when a client has put something that should be a "Cost of Sales" account into the "Expenses" section, it would be nice to be able to change the account type to get it to the correct section, so that the income statement puts it in the right place.
A feature I learned about some years ago can be very helpful if you discover that a correction needs to be made in a prior year — for example, sometimes a client will set up a purchase order, with a payment, and forget to convert it to a bill. If that conversion is done the next fiscal year, it puts the cash basis expense into the wrong year. But by "starting a New Fiscal Year" and choosing to go BACK a year (i.e., from 2015 to 2014) instead of the normal forward, you now can fix that mistake in the correct period. Then go back to the current fiscal year for ongoing transactions.
Cons
My biggest frustration, and one that I've mentioned to Acclivity for many years, is that it only permits opening nine windows at a time (plus the home window). I hit that limit almost daily, and then I have to decide what do I close so I can complete the transaction that needed the "9th" window.
The Accounts section includes two quick reports, "Analyze Profit and Loss" and "Analyze Balance Sheet. These can be filtered for the current month or any prior month in the current fiscal year. And that's fine most of the year, but at the beginning of the next year, when I haven't yet started the new fiscal year, these only go to December of the prior year. The regular reports for these can select "next year;" why can't these?
It would be helpful if the journal entry number would have one or two additional digits available. For example, when I am entering journal entries for a client, I would like to use a number such as CPA2014001, CPA2014002, etc. to distinguish what I enter from the "automatic" entries that AccountEdge does. But that's one more digit than AccountEdge allows, so if I had over 100 adjustments, I would run out of entry numbers.
Likelihood to Recommend
If you are doing your accounting on a Mac, this is the go-to accounting application. The major competitor doesn't come close in features. For both PC and Mac users, the major competitor does too many things inside a black box, so you don't know for sure how it comes up with some of the results it shows. AccountEdge doesn't have those hidden "features."
We use AccountEdge for accounting in our own bookkeeping services company and we also support clients who use it, most commonly on Mac computers, but also on Windows. It is ideal for those clients who need robust job costing and/or inventory, as well as integrated payroll that passes payroll costs through to jobs seamlessly. Other things it supports that its closest competitor, QuickBooks for Mac, does not are retainers and escrow accounts, multi-currency, and product variations in inventory like color, size, etc. One unique feature is a third way to categorize transactions, so that you can label a transaction with a job, a category (like classes in QuickBooks) and a department, all at once. I know of no other small business accounting software that offers that, on Mac or Windows. Finally, there is a mobile app as well as web browser access to be able to add transactions (like invoices for customers or expenses at the point of purchase) and to track time and then sync the data back to the company file. Employees can be given access to that feature without accessing any company information. It also integrates with Shopify web stores and their own Enstore web store software too!
Pros
Complete Macintosh accounting software solution
Robust inventory with price levels, quantity price breaks, and item assemblies
Robust Job costing including progress billing, budgets, and profitability
Mobile and web apps to add transactions from anywhere to sync back to your company file
Integrated payroll
Retainers and escrow accounts
Three levels of transactions categorization-jobs, categories, and departments
Multi-currency
Network capable for multiple simultaneous users
Ability to see profitability on an individual invoice
Company file can be transferred back and forth between Mac and Windows with NO conversion needed.
Can import text files of practically any kind of transaction
Cons
Less user-friendly than QuickBooks for Mac, though not by much
Reports lack some flexibility in choosing what items to include or filter, as well as sorting flexibility
Does not retain data from previous years by default, which has both advantages and disadvantages
Likelihood to Recommend
It is well-suited to small to medium businesses who prefer Macs and have sophisticated accounting needs that are not handled by QuickBooks for Mac, like inventory, job costing, web store integration, and integrated payroll. It is especially helpful if non-accounting employees (and owners) need to do transactions and time tracking in the field and sync it back to the company file. However, it is not well-suited to micro businesses with owners who have limited accounting knowledge.
The clients I work with have multiple businesses from Sole Proprietorships to LLCs to S Corps to personal accounting. Co-mingling of funds has always been an issue. In a perfect world business expense come out of the business account, etc. etc. By using a Job code for expenses and income, I can combine multiple checkbooks and still run individual P&L's for those jobs. And yet at the end of the day, a client can see a Balance Sheet that represents their entire life.
Pros
Job Coding - Forget having a set of books for each venture a client undertakes. Merge them all together and use the Job Coding to keep them separate.
Sorting - It is extremely helpful to be able to view the Bank Register window by Name, Account, Amount, etc. I can quickly sort by Name and see the last time I paid someone or by Account to see if everything looks correct.
Reconciling Statements - Being able to view by Debits or Credits allows you to quickly find the amount. Also, genius idea to have the items you mark instantly have a blue background which allows your eye to quickly scan the remaining numbers.
Cons
Autofill - In the Spend Money Window, when I key in a Vendor which is only used for Fuel it would be nice if it filled in FUEL.
I would like to not have to pay for the Payroll Tax Tables updates in the Do It Yourself Payroll Program.
Likelihood to Recommend
Most people use QuickBooks because their accountant does. I tell them if your accountant said they could only drive a Ford and not a Chevy would you think they are very smart? NO, You should not trust your accounting to someone who can only use QuickBooks. Find an accountant who is competent in AccountEdge. If you really like your accountant and they only use QuickBooks and you wouldn't mind suffering to use an inferior product so you can please them, by all means stay with what you are using. However, if you want the job done more efficiently use AccountEdge.
I used AccountEdge when I ran my own marketing company several years ago. I used many of the software features including SurePayroll which was their web based payroll solution. At the time we were running all Macintosh machines and operating systems. We had developed customized databases using FileMaker Pro and I was able to integrate my reports into that program by using MSExcel. The whole process took a little bit of time to set up, but once it was running, we had no problems with it for five years until our company closed. Now I have helped clients set up their Chart of Accounts and maintain their books in this program. I have been advocating AccountEdge over other accounting software, like QuickBooks, because it operates better on most systems and doesn't cause the kind of software conflicts that other brands do, especially when run on Macintosh systems. Unlike other accounting software you are able to get customer support from this company, not just their affiliates.
Pros
I really appreciate the integration of AccountEdge and SurePayroll. You can save a lot of payroll processing time by not entering payroll into two separate systems and also feel secure in knowing that your reports and tax liabilities are being properly and timely submitted.
I appreciate the fact that you can pick and choose your add-ons to this system. Some other account systems bulk up their software by attempting to make it do everything. It makes the system incredibly complicated and large. They are constantly coming out with new updates to deal with software and operating system compatibility problems. This really makes other software less productive.
As a bookkeeper who started out on ledgers and journals, I appreciate the fact that you can close out a year and not have access to it again. I see so many clients who use other software go back and change items in periods that they have reconciled and closed. This creates problems that they are unable to understand, let alone fix with journal entries and adjustments. This software was created by people who at least have a basic understanding of accounting principles.
AccountEdge reporting features are just as good if not better than any other accounting software. You are able to do all of the same functions as any of their competitors.
Cons
Navigating through the system could be a little easier. For the most part, it is intuitive, but it looks so different from what people are used to seeing that if I had to make one improvement, it would be that.
I haven't had to use their subscription support, but I heard it's a little expensive.
I do wish that it was a little easier to transfer data from one accounting system to another. I realize why software companies like QuickBooks make this more difficult, because their clients would jump ship immediately to more proficient programs like AccountEdge. But, there should be a easier way to migrate from one system to the next other than reentering all your transactions.
Likelihood to Recommend
There seems to be more people looking for accounting software that is made to run on a Macintosh system. I think this is a good thing. Several decades ago I read an interview in Wired Magazine that said the future of the personal computing would gravitate to the service provider being responsible for security, hardware and software upgrades. Consumers would simply have a monitor in their homes that connected them to the internet and we would sign up for different needed services. This would make the service provider responsible for all the things that are frustrating and expensive for consumers to deal with now like; security issues, hardware upgrades, software updates, etc. This made sense to me and I do see things moving in that general direction. I feel like AccountEdge is well positioned to take this kind of a challenge on.
