Having a complete view of your current and future cash position can be the difference between a smart business decision that positions your company for growth and a decision that cripples your organization’s growth. Knowing where you stand and where you could be is a necessity, especially when revenues are limited and bills seemingly endless.
But cash management means many different things to different organizations in different industries. How can you tell what’s best for you? This is a question that CPA Practice Advisor, a leading source for unbiased news for the accounting profession, asked, comparing over a dozen accounting software options based on cash management functionality on each’s ability to accomplish a variety of tasks.
CPA Practice Advisor took a look at a multitude of accounting software choices, including AcountantsWorld Accounting Power, Acumatica, FreshBooks, Kashoo, Intacct, QuickBooks Online, Sage 50, Thomson Reuters Accounting CS, Wave, Xero; and cash management apps, including Pulse, Up Your Cash Flow, PlanGuru and Float, and found that only three of these could be considered “Five Star Cash Management Systems.”
The three that did receive five (out of five stars) were PlanGuru, Acumatica, and Intacct.
In comparing these applications, CPA Practice Advisor looked for specific functionality from each, noting the ability to provide the following:
- Cash forecasting tools
- Built-in bank reconciliation capability
- Cash management analytics
- Security options and the availability of an audit trail
- Reporting options
- Multi-currency capability
- Product integration with applications from the same vendor
- Product integration with third-party applications
The company found that Intacct offered unique strengths over many of the other applications, noting that “Intacct is a comprehensive accounting and financial management software product that offers excellent cash management capabilities. Comprehensive reporting, cash management capabilities, and multi-entity and multi-currency capabilities make it a good solution for global organizations or businesses.”
High praise indeed.
To learn more about Intacct and the superior cash management functionality it provides to businesses in all sizes and industries, click here. To learn more about how Wipfli/Brittenford can help you make the most of using Intacct, contact us for more.