"Accounting Relief provides us with real time accounting data that allows me to provide relevant and timely business advice to my clients. In many ways, I am their virtual CFO."
~ Michael Ripa, EA, Walton, NY
"Accounting Relief has virtually eliminated client error, and we can help our clients manage their cash flow more effectively, which is a key benefit of our service."
~ Hector Garcia, CPA, San Antonio, TX
"We taught a number of our write-up clients how to enter cash receipts and disbursements. Clients now enter transactions themselves, saving us time."
~ Gottlieb Bright, Beltsville, MD
"I just converted three Quickbook clients over to Accounting Relief. Smartlink within Accounting Relief is a fantastic utility to convert Quickbook clients to Accounting Relief."
~ Scott Kinzey, MS, CPA, Nixa, MO
"With Accounting Relief we are able to become virtual CFO for our clients, keep their books current and help them increase their profits."
~ Pramod Ahuja, Plainsboro, NJ
Accounting Relief is a complete write-up and bookkeeping package with two component systems: Accounting Relief Pro and the Bookeepping module
Accounting Relief is a complete write-up and bookkeeping package with two component systems:
Accounting Relief Pro - includes write-up, direct transaction entry, trial balance, and financial statements.
Bookkeeping - includes banking, sales, and expenses modules.
Accounting Relief Pro can be used without Bookkeeping, but Bookkeeping can only be used as an add-on to Accounting Relief Pro. Either system can be used only by accountants, or by both accountants and the clients to whom they provide permissions. A major goal of Accounting Relief is to let each client use the system based on their level of experience. This minimizes client errors, while ensuring that all accounting requirements are being tracked properly behind the scenes.
Key features of Accounting Relief:
Perhaps the most original and defining feature of Accounting Relief is its support for client collaboration. Instead of off-the-shelf, “client-centric” software that clients can use on their own without any accounting knowledge, Accounting Relief is an “accountant-centric” application that accountants can customize individually to meet the needs and capabilities of each client.
In this way, clients without an accounting background can enter checks and deposits on screen, while trained bookkeepers can access a wide range of more advanced capabilities such as A/R, A/P, and Bank Reconciliation. While users are entering this data in a familiar on-screen format, transactions are being written behind the scenes error-free to the Accounting Relief Pro modules, from where accountants can view the same data and prepare their adjustments and financials. And because Accounting Relief is Internet-based, both accountant and client can log in to the same application, without having to transfer data back and forth between incompatible systems.
Accounting Relief offers a full-fledged Accounts Receivable system for recording and tracking sales—including invoicing, receipts for bill payment, aging, reporting, and much more. Once the simple setup procedure is complete, all journal entries are generated automatically from on-screen invoice entry, with transactions written behind the scenes to the correct sales accounts.
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The Expenses module lets you set up vendors, enter bills, print checks, and enter credit memos. Once vendors are set up with default accounts, simple vendor bill entry ensures that error-free transactions are automatically passed behind the scenes to the appropriate accounts and journals.
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Job costing on Accounting Relief lets user track costs and income by job. It also allows tracking by phases or sub parts of a job and different categories of jobs. There are several different reports including job profit & loss analysis, job profitability report, and jobs lists, as well as on-screen tools for analyzing jobs.
Accounting Relief's Inventory Management functionality helps users track inventory and plan purchases. Users can see how items and services are moving through the sales and purchasing processes, and how they are performing for their business. It tracks quantities at hand and analyzes cost of products when they are purchased and profits realized when sold.
Write Up and Trial Balance
Basic to the accountant feature set in Accounting Relief Pro are the write-up and trial balance modules. These functions are powerful enough to be used for entering data by themselves, but they also collect automatically all transaction data entered through the Bookkeeping module. In this way both accountant and client can use the same system for doing their work, with the accountant totally in control. Highlights of the write-up and trial balance modules include the ability to drill down from the trial balance to any component transaction, the extensive series of financial ratios, and the ability to create custom templates for recurring journal entries.
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Accounting Relief provides a complete set of financials including balance sheet, income statement, and cash flows statement; along with title page, table of contents, accountant’s letter, and notes. A professional set of financials can easily be generated using our system defaults, while more ambitious users can customize each statement to group accounts, create supplemental schedules, design multiple formats for various recipients, and much more. Accountants can also control which financials their clients can print.
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A well-tuned network of integration minimizes duplication of effort, ensures consistency, and provides a seamless transition to and from other software packages. Accounting Relief integrates both with external packages like QuickBooks and Peachtree, and with other components of AccountantsWorld’s Power Practice System.
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Accounting Relief has been designed to offer you and your clients virtually every capability you would expect from any comparable accounting system.
- Flexible setup, including 30 industry-specific charts of accounts and the option to copy accounts and other setup information from another client.
- Simple entry of transactions by department, with full reporting capabilities.
- Upload electronic transactions from bank or credit card statements, thus minimizing data entry and automatically generating the Bank Reconciliation.
- Track profit and loss by the types of jobs your company performs and the categories of expenses incurred in performing them.
- Easy reporting of sales tax.
- Easy consolidations, with consolidated financials.
Accounting Relief integrates seamlessly with CyberCabinet—our client portal and document management system. All reports and financials are automatically stored in secured CyberCabinet. Both clients and firm can easily access these materials to view and download at any time and from any location.
With this integration, AccountantsWorld makes client accounting completely paperless. Clients can scan vendor bills, bank statements and other documents directly to CyberCabinet. When your staff logs in to do that client’s bookkeeping, all unpaid bills are displayed on the screen. After data entry, the source document is automatically attached to the data field.
Not only does this make accounting paperless, accountants can now make bookkeeping more profitable and offer bill payment service.
To best manage your practice and your clients, Accounting Relief offers a Client Snapshot, which lets you view essential statistical and financial information for each of your clients in summary form. The snapshot also alerts you to transactions and balances that fall outside of the range that you’ve prescribed (as set up through Accounting Relief’s customizable Alerts feature). This keeps you informed on a single screen of various conditions in a client’s business profile that might require monitoring or follow-up action.
While working with any client, you can access a fully customizable Dashboard that displays a more detailed overview of each company's situation including quick links and useful graphs. Finally, you can communicate information internally about each client through a set of electronic notes that offer a checklist, to-do list, and more.
Good communication between you and your clients is essential for a smoothly functioning accounting-centric system. Accounting Relief’s innovative Instant Messaging tool lets accountants and clients communicate electronically and securely. The program also automatically sends several e-mails to clients, for example to alert them that a period or year has been closed. And customizable alerts keep you informed on a single screen of various conditions in a client’s business profile that might require monitoring or follow-up action.
Even with its simplicity of design, Accounting Relief offers extensive tools for you to realize all its potential. We provide over 20 short training videos that cover most major functions. Plus, regularly scheduled online Webinars provide live or recorded demonstrations on how to use various modules.
Accounting Relief - Write Up and Trial Balance
- Quick heads-down entry using automatic offset accounts and memorized lists of vendors, customers, or employees, thus minimizing data entry while ensuring accuracy.
- Custom transaction templates for quick posting of recurring journal entries.
- Adjusting entries including reclassifying and federal.
- Upload transactions electronically from client bank statements.
- Drill-down functions from the trial balance and financials for audit and review. Drill down first from the account balance to all component transactions, and from there to the originating transaction details and even the source documents. Corrections if needed can be made easily, with the results instantly posted to the trial balance.
- Thirty essential financial ratios break down a company’s financial activity into simple mathematical computations, thus letting you track any unusual activity that may require your intervention.
Accounting Relief - Financial Statements
- Flexibility to produce professional financials using system defaults; or customize each statement to group multiple accounts on any line, create supplemental schedules, and more.
- Comparative financials showing current vs. prior periods, variances, and percentages.
- Create engagement letters of your own or use any of our c. 70 templates to start.
- Financials can be customized for different purposes (e.g., for your clients, yourself, or the bank).
- Archive financials to CyberCabinet, our optional web-based system for on-line document storage, to improve paperless workflow and allow clients 24x7 access to their reports.
- Separate statement of retained earnings or partner’s capital statement.
Accounting Relief - Sales
- Supports invoices, maintains receivables, and generates aging reports.
- Customize each client’s invoice format to upload a company logo, select items to print on invoices, customize columns, choose colors, and add footer text.
- Set up customers, sales tax options, and products/services with associated accounts,; designate appropriate accounts for discounts, freight, sales tax, and more.
- Enter invoices by simply retrieving memorized customers and products/services; and then entering quantities, discounts, freight, and other typical invoice data.
- Set up recurring invoices for customers you bill each period.
- Enter credit memos to customers.
Accounting Relief - Expenses
- Enter bills and maintain payables.
- Split checks among multiple expense accounts.
- Supports a ready-to-file Form 1099-MISC.
- Recurring bills for fixed expenses you pay every period.
- Recover expenses from customers while paying bills.
- Enter credit memos from vendors.
- Enter credit card details from your statements on a simple screen. The program generates all the accounting transactions and lets you print a check to your credit card vendor.
- Option to debit transactions to a suspense account for later resolution.
Accounting Relief - Robust Integration
- Easy transfer of setup and transaction data to Accounting Relief for users making the transition from QuickBooks or Peachtree.
- Journal entries from Payroll Relief are automatically generated.
- Invoices for your firm's clients are automatically generated from tasks and retainers entered in Practice Relief.
- Compliance data flows seamlessly to After-the-Fact Payroll.
- Export from virtually all data screens to Excel, for further review or analysis.
- Trial balance data can be transferred to any tax program via our Tax Link.