Micronetics, Int’l. — Accounting Xpert Enterprise Edition

Micronetics has developed professional accounting software since 1978, and last year introduced the completely redesigned Accounting Xpert Enterprise Edition, a comprehensive write-up system that includes full GL, AR, AP, payroll, reconciliation and financial statement generation, along with inventory, checkwriting and other client management and business features. The program is built on the Pervasive database, which offers more depth and greater speed when managing large numbers of transactional elements.

Basic System Functions

The program was developed by practicing accountants, providing a workflow organized around write-up engagement processes. It opens into an interface that resembles Microsoft Outlook, with a left-side navigation menu and icons for accessing core modules, including AR, AP, GL, inventory, sales orders, sales analysis, bank reconciliation, W-2/1099 processing and a client bookkeeping system called Checkbook Xpert that integrates with the professional system. Additional pull-down menus are available across the top of the screen. When accessed, each of the core module areas opens selection lists specific to the module, providing increased access to transactional data, accounts and other detail. When initially setting up clients, the program provides some guidance, with data collection fields offering intuitive movement and heads-up or heads-down entry.

The program can support any number of companies and consolidated companies, with client and vendor selection screens that provide basic sorting options across a spreadsheet view. Since the program also offers payroll and wage reporting features, it provides employee and contractor management functions, with selection lists that offer the same general functionality as the ones for clients and vendors. Companies, vendors and employees can also be organized into groups, and security features can be assigned to limit access to certain staff members or groups. Accounting Xpert is networkable and can be used by virtually any number of concurrent users, with appropriate licensing. Although interface customization options are limited, the program does offer reminders and alerts to client company and firm events, such as account activities, balances or aging defaults, etc. 4.5

Core Write-Up Features

The program provides simplified journal management features that allow single-line entries and keyboard-based entry, with additional functions for speeding data entry, such as duplicating items or setting up automatically recurring entries. The program doesn’t require monthly closing, which allows authorized users to edit transactions and make adjusting entries at any time and with a full-time audit trail. It can produce up to 9,999 supporting schedules per company, which can be arranged in any order for funds statements, unit financials or customized balance sheets.

Transactions can be quickly accessed and displayed in a spreadsheet view that offers sorting by columns for date, account number, check number amounts or almost any other detail, while unposting of journal entries is simple, and corrections can be made without unnecessary adjusting entries. Prior period adjustments are automatically reflected on prior year statements, which can be reprinted at any time. The program’s reconciliation functions can support any number of bank accounts, with the ability to reconcile accounts separately. After-the-fact payroll is automatically compiled from journal entries, with the system offering generation wage and information reporting. Financial ratios provide oversight and analysis of key business indicators and benchmarks. 4.5

Reporting & Financial Statements

Accounting Xpert includes generation of forms W-2, 1099, 940 and 941, plus state unemployment reporting, all of which can be printed to blank stock or special forms. Supporting schedules for GAAP-compliant financial statements can be organized into any order, with the ability to output sets and compilation letters into Word and Excel formats for customization and the addition of visual elements such as charts and graphs. Reports can also be saved to PDF and text formats, or can be emailed directly from within the program. Managerial reports include summary and detail by period, analysis, budgeting and additional options. While invoicing features are not specifically included, the program’s full AR can be used for management of most client billing functions. 4

Import/Export/Integration

The Accounting Xpert Enterprise Edition can import client transactional, company, employee and inventory data from most small business accounting systems, including QuickBooks, Quicken and Peachtree, with manual processes for verifying data and returning to client systems. Data can also be output into formats importable by third-party trial balance, tax and payroll systems. Although no client portals are available, the system directly integrates with the Checkbook Xpert system, which is a client-side bookkeeping program from the same vendor. The system does not offer web-based integration with financial institutions for reconciliation. Client collaboration features include the ability to email reports directly from within the program. Reports and financial reporting can be generated into PDF, Excel and Word formats. 4

Help/Support

Accounting Xpert offers guidance with some write-up processes and system functions and includes a PDF user manual, a print user manual and a link to an online support session, but it does not have a traditional indexed Help utility. Online support is limited to FAQs, a tutorial, an online contact form and system updates. Live technical support is free with program licensing. The program supports all modern Windows operating systems through Windows 7. 4.5

Summary & Pricing

The Accounting Xpert Enterprise Edition offers a very comprehensive write-up package with good financials generation and reconciliation features, plus strong after-the-fact payroll and compliance reporting. Its open timeline structure allows users to keep periods open, while still being tracked by a full-time audit trail. The program costs $995 for a single user, with additional concurrent user seats at $245 each, and annual renewals costing $495.

2010 Overall Rating 4.25