2018 Review of Thomson Reuters Accounting CS – Invoicing Functions

Made exclusively for accounting professionals, Accounting CS from Thomson Reuters, offers excellent invoicing options, and is part of the Accounts Receivable feature found in Accounting CS. It’s important to note that the Accounts Receivable feature must be enabled in order to utilize the accounts receivable and the invoicing functions.  An excellent choice for accountants wishing to offer bookkeeping and accounting services to their clients, the invoicing function works in conjunction with the accounts receivable function in the product.

The Invoice Templates screen allows users to set up a template for each invoice transaction, with the ability to refer to that invoice when processing future invoices. Accounting CS users simply need to access the items screen within the accounts receivable function to choose the items they wish to include on an invoice, with a variety of formatting and field options to choose from. Fields and buttons available on the invoice change when the item type is chosen. Some of the options available include Discount, Group, Other Charge, Service, and Shipping. Field and button options available include ID and Description, Type, Price, Sales Account, Cost, Inventory, and Sales Tax. Users can easily add a logo or other identifying details on any invoice.

Invoices cab be created on an as-needed basis, or users can schedule recurring invoices, choosing from weekly, monthly, quarterly, or yearly options. The Add option allows users to quickly create a new invoice, along with the ability to void or delete invoices as well. Both customer payment terms and late fees/discounts can also be specified when setting up each customer, with the system automatically calculating finance charges based on the data entered during the initial customer setup process.

The Manage Customer Payments screen allows users to write off customer invoices or finance charges when necessary, and users can also unapply any payments that were posted to the customer’s account in error.

Accounting CS allows users to easily print a single invoice or a selection of invoices from the Print Accounts Receivable Forms option. Users simply need to choose the invoices or statements they wish to print, providing users with a total amount of all invoices and statements. Users can verify that all invoices printed correctly and easily reprint any that did not.

Users can easily add sales tax to any invoice by simply setting up the appropriate sales tax information during the customer setup process. Accounting CS offers a decent selection of invoicing and accounts receivable reports, including an Invoice and Payment List, Invoice Item List, Sales by Item, and Sales Tax reports. Other reports available include an Aging Schedule and Customer Activity report. All reports can be viewed on screen, printed, or saved as a PDF. A Report Designer option is also available for those that wish to create custom reports.

Accounting CS offers seamless integration with a host of Thomson Reuters applications including FileCabinet CS, Ultra Tax CS, and GoSystem Tax RS. Users can also export data into other third-party tax applications such as ProSeries, Lacerte, and ProSystem fx.

Designed for accounting professionals, and an excellent option for those interested in offering accounting and bookkeeping services to their clients, Accounting CS pricing is available from Thomson Reuters upon request. Those interested can download a product demo to try out prior to purchasing.

2018 Overall Rating – 4.5 Stars