Top 10 Accounting/CPA Software: Ratings and Reviews

Today systems for accounting have provided an ease of collecting, storing and processing of financial and accounting data. Talking about the past, it was a paper based process but now with the ever evolving technology this field has also led to the development of software. From time immemorial it has been important for every business individual to take care of income and expenditure so Virtuous reviews, a leading business review platform has brought some of the options for certified public accounting software by verifying different accounting systems which work on the latest technology and strategy.

We at Virtuous reviews perform a series of checks and tests so that we can provide you proper ratings and reviews with the outstanding options for your business. As accounts have always been a major factor in every aspect hence using a well-developed CPA accounting system will only help your income and expenditure to be maintained at the superior level.

Today internet based accounting systems have taken their place in the market and there are several software related to it. In this list of software we are confused that which one will be suitable according to us. So Virtuous reviews has come forward with the list of top most effective software for certified public accounting which can make your task a lot easier.

How to choose the right CPA accounting software?

When evaluating CPA-specific systems, the most important criteria to consider are the nature of your business and the number of clients. Do you primarily deal with tax preparation for individuals, or general ledger and payroll for corporations? Do you have two or three clients or 100?

In particular, CPAs seeking software should ask the following questions:

• How many individual records will you need access to at a given time? Is the software designed for that level of usage?
• Do you primarily serve individuals or corporations?
• Will you need support on regulatory compliance?
• Do you need to keep track of billable hours?

Features:-

• Multi-company accounting - Unlike other industries, professional accountants need to manage the accounting for multiple companies, so the software allows you to categorize access all their data to keep it separated but easy to recall. Non-accountant-specific programs can sometimes become overloaded by all the records, so it’s critical that your software can handle large volumes of data.
• Tax preparation - Tax preparation is a major part of a CPA’s job, and CPA-specific systems will contain specialized data to support preparation for all your clients. These will include updated tax tables, automated calculations and electronic filing for individuals and corporations on a state, local and federal level.
• Time & billing - Time and billing refers to the ability to track the time spent on certain projects and then bill clients based on the number of hours spent.
• Regulations compliance - The system needs to comply with federal, state and local regulations and statutes like FASB, GASB 34, IFRS and DCAA. the software complies with these regulations and updates it for any changes.
• Financial reports - Reporting is a critical component for freelance accountants. In addition to standard executive reports, charts and summary statements, the software is able to build customized reports using an intuitive interface.

Benefits:-

• Saved time - You save time on bookkeeping and paperwork because many of simple bookkeeping tasks are handled automatically making it easier to run your business.
• Access to reports - Without accounting software, it’s difficult to see exactly how your business is doing at a certain point in time. By keeping your data up-to-date, you can run various reports such as a profit and loss or comparison from last year. You can even input budget data, which is a useful tool for your personal finances.
• Lower accounting/tax bills - Having an accounting software not only saves you time, but it also saves your accountant time, which lowers your accounting/tax bill. Most accountants should have the capability to extract the data they need to complete your tax return using a backup copy of your software. This is a lot faster than sifting through receipts and papers that you’ve accumulated throughout the year.