From the 2016 Review of Accounting Systems for Small Businesses.
Best Fit: CenterPoint Accounting is a good match for businesses looking for a product with a more traditional look and feel that offers solid inventory and business management capabilities.
Product Strengths:
- Offers good inventory and fixed asset management
- Offers comprehensive payroll capability
- Good selection of help, training, and getting started tools to assist new system users
- Offers good customization capability
Potential Limitations:
- Does not offer remote system or mobile access
CenterPoint Accounting, from Red Wing Software is designed for small to mid-sized businesses that prefer an on-premise product. Along with small business accounting, CenterPoint also offers farm accounting software designed agricultural producers. Also available is fund accounting software, designed both nonprofits as well as governmental entities. CenterPoint also offers CenterPoint Payroll, which offers complete payroll functionality and integrates with CenterPoint Accounting products.
Basic System Functions: 4.5 Stars
Those new to CenterPoint Accounting can easily download the product from the Red Wing Software website after purchase, with the product installing easily. A drop down menu is found at the top of the screen, with functions such as File, View, Processes, Reports, Reporting Tools and others found directly below. Frequently used functions are represented by colorful icons, and choosing an option will display a vertical menu to the left of the screen that offers access to all features and functions found within that specific process.
CenterPoint Accounting’s user interface is fully customizable, with users able to display only the features and functions used most often. The product contains a standard chart of accounts that allows users to add additional accounts as needed. In addition to the accounting software, CenterPoint also offers fund accounting, agricultural accounting, depreciation software, as well as payroll software. CenterPoint is designed to work on a Windows platform and is compatible with the latest versions available. At this time, access to the product via the web or other mobile devices is not offered.
Core Accounting Capabilities: 4 Stars
CenterPoint Accounting allows users to create a flexible account structure, using up to 22 characters during setup. All transactions and reports offer drill-down capability, and easy customization makes it easy for each system user to create a custom user interface that is designed for their own personal needs. All transactions entered in CenterPoint Accounting are posted in real time, so all data is up-to-date. The AP module allows users to easily enter vendor data, select invoices for payment and process payments.
Vendors and customers can be entered on the fly, and users can process both full and partial payments in the AP module. Invoices can also be put on hold if needed. The AR function allows users to enter invoices and easily track accounts receivable due dates. The data entry interface is populated with items such as pop-up reminders and quick lists, as well as the ability to skip certain fields when entering data. CenterPoint Accounting tracks multiple sales tax types, with the ability to set up both tax categories and jurisdictions. Users can set up customers with specific tax types, including tax exempt, and can easily process both periodic and yearly sales tax returns.
CenterPoint also offers CenterPoint Payroll, which easily handles multi-state payroll. Direct deposit is supported, as is the use of prepaid debit cards. The Publish Pay Advice Module provides employees with a secure web site, where all those being paid by direct deposit can view an electronic check stub. Users can enter time directly from employee timesheets, or time can be imported from time recording devices.
Processing of all required forms is included in CenterPoint Accounting, with support for local taxes as well. The product offers excellent audit trail functionality, with all edits, voids, and deletes tracked. CenterPoint Accounting handles multiple system users, though multi-currency is not supported in CenterPoint Accounting at this time, nor is there online access for accountants to access client accounting transactions.
Day to Day Operations: 4.25 Stars
The Sales Order module in CenterPoint allows users to easily process quotes for customers, with the ability to turn quotes into orders. The included Forms Designer module allows businesses to easily customize quotes and orders to suit their needs, and once a quote or sales order is entered in the system, the number of inventory items currently available is displayed on screen. Orders can also be partially filled, with unfilled portions immediately creating a backorder in the system. Point of Sale functionality is not offered in the product, and shipping options are limited to the entering data specifying shipping preferences.
Customer, vendor, and employee data is easily tracked in CenterPoint, with customer preferences entered during system setup. User defined fields are also available for those wishing to track additional details. The Inventory module allows users to track an unlimited number of prices for each item placed in inventory, and also supports multi-location inventory management. The Purchase Order module tracks products, including product movement, allowing users to easily track popular items and keep items stocked.
A ‘suggest order’ function suggests which products should be ordered based on prior product history and sales totals. Though CenterPoint offers integration with merchant service accounts for easy online banking, there is no option to access the system remotely at this time.
Management Features: 4.25 Stars
CenterPoint Accounting does not offer true dashboard functionality, there are a variety of system reports available that offer users quick access to key business analytics. The Ratios module certainly contributes, with users able to compare company performance against industry standard ratios. No special setup is necessary to produce the ratios, as they system simply accesses the data already being utilized. Like system transactions and reports, the ratio indicators offer drill-down capability, with users able to access hidden data.
The product also offers good system reports, with all reports customizable, with users able to save all custom reports for future access. For more comprehensive report options, CenterPoint will also integrate with third-party report writing applications. Reports can be easily exported to Excel, or saved as a PDF. The product offers solid system security options, with both company and menu-level options available. The product also offers Asset & Liability Tracking, which provides easy tracking of company assets, asset cost, and depreciation calculations.
Integration/Import/Export: 3.75 Stars
CenterPoint Accounting is a fully integrated product, with all system modules working together. An included import function allows users to import data from other applications. The product also integrates with other Red Wing products including their Fund Accounting, Farm Accounting, and CenterPoint Payroll software, as well as depreciation, and tax and forms software. The system easily exports reports to Excel, and users can also export system transactions, though there is no direct access to outside accountants wanting to access client data.
Help & Support: 4.5 Stars
CenterPoint Accounting offers good help functionality throughout the product. Those with a service contract also have access to training videos, a getting started guide, PDF files, and other documentation via the Red Wind Software University. Remote desktop support is offered to CenterPoint customers, who can also choose from a variety of training options including classroom and personalized training. An accountant’s version of CenterPoint is not currently offered. All product support is U.S. based, with support available via telephone, email, or via the website.
Summary & Pricing
A good fit for small businesses that need inventory and fixed asset management, CenterPoint is a good solution, with pricing starting at $1,495, with add-on modules such as check printing, payroll, and inventory priced separately.
2016 Star Rating – 4.25 Stars
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Tags: Small Business, Software
