What Accounting Software CPAs/Accountants Use and Why?
There are many accounting software programs available in the market nowadays to ease the lives of accountants and CPAs. These accounting software programs automate the entire bookkeeping and accounting process and keep the company’s financial records accurate that eventually boosts the overall productivity of the business. However, the real challenge begins when it comes to choosing the accounting software for your CPA or accounting firm.
But not to worry anymore! We’ve outlined the best accounting software used by experts along with their reasons to help you decide what better suits your requirements:
1. EXCEL IS THE BEST, BUT USE QUICKBOOKS TO BE MORE ACCURATE
C. Zachary Meyers, CPA, CVA
I am a rare breed that refuses to yield control to accounting, tax, depreciation, or any software other than Microsoft Excel. I am somewhat proud to say that I literally do everything in excel. If given time, I could probably solve world hunger with excel and have done almost everything but that in my career. While I may be the slowest ten key operator the accounting world has ever seen, I have literally designed each and every template I create to function almost autonomously via mostly clicks of a mouse and very little typing.
Now, I’m not a typical tax or audit accountant, so in all fairness, their jobs lack the freedom I have and being a forensic accounting expert I can build very complex, multi and single purpose templates for almost all the work I do.
While others use QuickBooks, I can reconcile, close, and even generate reports faster than anyone I know via excel. While many may use valuation software to generate valuation and calculation reports, I would be willing to get I can do a full appraisal of even the most complex business in excel that would make anything generated outside of excel look like who, what, and why.
The models I have created to calculate damages for litigation can do things that I have yet to see any other software be able to do. I am a firm believer in mastering any tool, process, or operational aspect of your day to day routine.
2. QUICKBOOKS FOR ACCOUNTING AND INTUIT’S LACERTE FOR TAX
Brian T. Stoner – CPA
FYI I use QuickBooks for the very small amount of accounting, just to review profit & loss statement and balance sheets. For tax preparation, I use Lacerte, an Intuit product.
I consider these best in the market because of its ease, ability to print just about every IRS form and all 50 state forms, and its great diagnostics and customer service.
3. INTUIT’S QUICKBOOKS FOR BOOKKEEPING AND PROCONNECT FOR TAX
Alexander Zazi – Bookkeeper & Income Tax Preparer
As an accountant, Intuit is the most quintessential software, especially for bookkeeping and tax preparation. For instance, QuickBooks facilitates one’s ability to balance debits and credits for their clients, along with doing clients’ bank reconciliations, financial statements and keeping track of the projects that are either in progress or completed during the year.
ProConnect Tax software makes tax preparation less time consuming, and it provides a tax planner which provides both the accountant and their client the tools and resources to make their tax returns more accurate, precise and convenient, especially when tax season approaches. I would, therefore, recommend Intuit to anyone who is a CPA, EA, accountant, Bookkeeper or tax preparer.
4. ACCURATE ACCOUNTING SOFTWARE FOR ACCOUNTING
Moh Mahsun – CPA
We use Accurate Accounting Software to assist our accounting operations, and I often recommended to our clients to use it. This software has many modules that can help the entity prepare financial statements in a very simple and easy way.
Joe Mastriano – CPA
My answer is QuickBooks because it’s most widely used by clients, so accountants need to be flexible and conform to what their customer use. Happy to help!
6. QUICKBOOKS AND CASEWAVE
Marc Belaiche – CPA, CA
I find that mainstream people use QuickBooks. In public accounting firms, they use CaseWave. It’s easy to use. Hopefully, that works for you. Thanks
Using an accounting software can be of great help but choosing the right one can add more value to your business’s bottom line.