Intuit Limited. QuickBooks 2016 Pro and Premier

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1 ICAEW Accreditation Scheme Financial Accounting Software Evaluation Intuit Limited QuickBooks 2016 Pro and Premier Evaluation carried out by: IT Evaluation Services Date completed: 27th September 2016 Signed: ICAEW Accounting Software questionnaire version

2 Table of Contents 1 Summary Approach to evaluation Matters to consider before purchase Evaluation conclusion... 8 APPENDIX A - Feature comparison between Pro and Premier Security and continuity of processing Input of transactions File maintenance Processing Performance of requisite accounting functions Reports Value Added Tax Currency Sales Order Processing and Invoice Production Purchase Order Processing Stock Control User Documentation Efficiency Integration and www facilities Support and maintenance... 71

3 1 Summary 1.1 Introduction The suitability of accounting software for each particular user will always be dependent upon that user's individual requirements. These requirements should therefore always be fully considered before software is acquired. The quality of the software developers or suppliers should also be considered at the onset. 1.2 Fundamentally, good accounting software should: Be capable of supporting the accounting functions for which it was designed. Provide facilities to ensure the completeness, accuracy, confidentiality and continued integrity of these accounting functions. Be effectively supported and maintained. It is also desirable that good accounting software should: Be easy to learn, understand and operate. Make best practical use of available resources. Accommodate limited changes to reflect specific user requirements. It is essential, when software is implemented, for appropriate support and training to be available. 2 Approach to evaluation 2.1 Objective To evaluate QuickBooks Pro and Premier 2016 against a set of criteria developed by the ICAEW to ensure that the software meets the requirements of Good Accounting Software, as laid down in the summary. 2.2 Approach and Work performed In order to effectively evaluate QuickBooks Pro and Premier 2016, a product specialist from Intuit completed the detailed questionnaire and provided it to the evaluator to examine. The evaluator then visited the Intuit office in London and in conjunction with the operation of the various aspects of the software assisted by a member of Intuit technical staff checked the answers to confirm their validity. The questions were individually reviewed and commented on and the majority of assessments were confirmed. The evaluator discussed the assessments with a member of the Intuit staff in order to clarify certain points. In the event of disagreement between Intuit and the evaluator, the evaluator's decision was taken as final and the response changed accordingly. QuickBooks Pro and Premier 2016, was used throughout the evaluation. The evaluation covered the fully integrated sales, purchase and general ledgers and 3

4 where appropriate sales order processing, sales invoicing, purchase order processing and stock software, separate reports have not been prepared for each ledger. Instead a composite report has been prepared with references made to the appropriate ledger as necessary. When the evaluation had been completed, the responses were completed by the evaluator and a draft copy sent to the ICAEW for review before completion of the final report. Software/hardware utilised The software used were versions of QuickBooks Pro and Premier Hardware: Portable Lenovo T440p Think Pad with 465MB disk and Intel core i7-4700mq 2.4GHz processor running Windows 7 Enterprise and Google Chrome browser version m. 2.3 Report structure The report has been broken down into its main constituents in the contents page. The evaluation questionnaire was provided by the ICAEW and has been used without alteration or amendment. 3 Matters to consider before purchase 3.1 General overview Intuit claim QuickBooks 2016 Pro and Premier bring extensive bookkeeping capabilities to small business users in an easy to use design that does not require customers to be familiar with debit/credit accounting. QuickBooks products address the needs of small businesses that are project, job or time based, that require a multi user product and/or multi currency. Intuit say the QuickBooks 2016 Range is not designed for larger companies with highly functional, multi user and multi currency requirements and the evaluation reflected a few weaknesses in the QuickBooks 2016 Range. These weaknesses should be taken in context with the market for which the product range is aimed. 3.2 Supplier background Intuit claim to have emerged as the world wide leader in small business finance with 7,700 employees world wide, and its net revenues for the financial year ending 31st July 2015 were $4.2 billion. (Net income $365 million). The total customer base is in excess of 60 million. Intuit UK is based in London, with a team of 157 full time employees. The company has both internal and outsourced technical support service. There are currently 75 care agents over 4 sites dedicated to UK QuickBooks. The current QuickBooks desktop customer base in the UK as at March 2016 is 339,000. The turnover for the financial year ended July 2016 was 15.5M. The target markets for QuickBooks are SMEs and the self employed; however, organisations with over 50 employees also use QuickBooks. 4

5 3.3 Product background and Suitability for user Intuit state that QuickBooks Pro and Premier 2016 is currently available, with updated versions (2017) available from end March The main change will be related to Payroll which is not covered by this evaluation. Where the Pro version has some restricted facilities these are identified in the main questionnaire section and appendix 1 of this report. Intuit states: It builds upon the strengths of ease of use and flexibility found in previous versions of QuickBooks range. It was developed around the rich functionality that the Windows environment offers. This enables QuickBooks to deliver simplicity and increase functionality without the complications to the end user. It incorporates Microsoft technology to take advantage of the ease of use, common interface and the ability to perform multi tasking operations within the accounting application. Intuit claim that QuickBooks 2016 provides a full functionality that a small business would require, an accounting system, time recording system and a payroll system. All of which seamlessly integrate in real time with the accounting system. N.B. Time recording and payroll not covered as part of this evaluation. QuickBooks 2016 integrates seamlessly with Microsoft Office applications (Word, Excel, and Outlook). This opens a world of opportunity to analyse the financial position of the business and a different perspective in efficiently managing it operations. QuickBooks 2016 provides a good start for smaller sized businesses. The application provides intuitive help guides both in the form of tutorial videos, QuickStart, on screen help and Internet FAQ s (Frequently Asked Questions) and Live Community (self-help). Intuit now provides free support for the first 30 days to all users. After that for the more advanced queries there is a paid subscription support and a free auto reply facility. The report facilities provide in depth analysis, which could be further analysed via a seamless export to Excel. The reports are clearly organised in logical accounting groupings for ease of access. All the reports made available can be customised within QuickBooks own parameters. The reports provide drill down facilities to access the level of detail required. QuickBooks 2016 includes a cash flow projector, a fixed asset tracker, vehicle mileage tracker and loan manager in Pro and Premier Versions. These extra features were briefly demonstrated to the evaluator but are not included in this evaluation. 3.4 Typical implementation Single user or up to a 30 user system for Premier (5 user system for Pro). 3.5 Vertical applications There are no vertical applications in the QuickBooks range, although QuickBooks does produce tailored Charts of Accounts for various vertical industries. 3.6 Software and hardware specifications Development environment SYBASE 5

6 3.6.2 Server platforms Windows 8, 7 and Vista Databases Proprietary Only Operating software Windows 10, 8, 7 and Vista Protocols Standard TCP/IP is utilised to communicate between the clients and the server Minimum client PC specification QuickBooks 2016 requires a minimum specification for it to function. Minimum Recommended Hardware requirements: Windows Vista SP2 Windows 7 SP1 or Windows 8.1 updated (32bit or 64 bit) Windows 10 also supported Processor: 2.4 GHz. Memory: 4 GB RAM Hard Disk: 2.5 GB of disk space Monitor: Optimised for 1024x768. Extended monitor is supported x CD ROM Drive, if installing from a DVD Other: Online features require internet access. o Product must be registered online Integration with other software requirement: Microsoft Word and Excel integration requires Office 2007, 2010, 2013 or Office 365 (32-bit and 64-bit) integration to Office 2016 (due October) will be provided Microsoft Outlook synchronisation requires QuickBooks Contact Sync for Office 2007 and 2010 (32-bit) Available online : synchronisation to Office 2016 (due October) will be provided estimates, invoices and other forms with Windows Outlook and Outlook Express, as well as webmail services such as Gmail, Yahoo Mail and Hotmail Multi user access works with these operating systems Windows Server 2003 SP2 (32-bit and 64-bit) Windows Server 2008 R2 SP1, 2012 R2 Windows Small Business Server 2008/2011 (64-bit) Windows server Support and maintenance The product includes an easy to read Start up and Upgrade Guide online and as a PDF in the product, as well as the EasyStep Interview, which helps the user through the essential steps for installation of the software and then simple steps of setting up their company files. Video Tutorials are also available. 6

7 3.7 Software installation and support Intuit offers other business services in the area of payroll, technical support and stationery. Intuit also offers annual support plans for users. Intuit also hosts an Online Community Forum for users. 3.8 Partner network and related accreditation process QuickBooks is sold directly via telesales, mail order and via the Intuit website. It is also available via the retailers Amazon & PC World. 3.9 Highlighted issues QuickBooks 2017 Pro & Premier System limitations (for further information see appendix A) menu tailoring system log of user activity, errors and security violations Lack of password complexity and cannot force password changes log of changes to master files and standing data controls over amending master files archiving unique reference number per transaction time, date and User ID only import of transaction only account details Duplicate transaction numbers possible warning only Lack of reasonableness check when entering transactions batches Transactions can be posted to control accounts [Sales and purchase transactions will have to be allocated to a customer or supplier but will not appear in the aged lists. This could cause problems when reconciling aged debtors and creditors lists to the trail balance control account figures] automatic settlement discounts accruals/prepayments in Pro controls over creation of new accounts, neither originator or authoriser are logged Limit of 5 concurrent users for Pro (30 for Premier) on a network Only one sub category of G/L accounts using classes group consolidation single company per data set Budgets only for general ledger accounts end of report markers only totals It is possible to post to the VAT control account [This could cause problems when reconciling the VAT report to the trail balance control account figure] aged unallocated cash or aged stock reports intrastat handling The system does not handle VAT tolerances, scale charges or retail schemes Calculated VAT can be overridden Journals cannot be set to distribute amounts by fixed percentages budgets for overheads Single currency per account date of issue of invoice only time of supply despatch stage in SOP back-to-back ordering or sale or return stock stock batches or serial numbers held for stock items 7

8 Only stock valuation is by average method It is possible to override a system generated sales invoice number gross margin report purchase invoice register orders accepted from the web links to web trading software purchase orders raised when stock is not available suggested purchase orders generated Limited reporting in SOP/POP stock locations printed user manual but tutorial videos, QuickStart procedures and frequently asked questions with answers included in the product Lack of Escrow agreement 4 Evaluation conclusion The QuickBooks 2016 range is a well designed accounting package targeted for the small business market, for which the product has been adequately specified. The latest Quick Start Centre makes starting a new company even easier. There is a facility to change between VAT cash and accrual accounting methods and it has limited multi currency. The combined ledger structure with additional functionality of payroll and time recording and it provides flexibility through integration with the Microsoft Office suite. (Payroll and time recording not included in this evaluation report.) Disclaimer Any organisation considering the purchase of QuickBooks Pro and Premier 2016 should consider their requirements in the light of proposals from Intuit or its dealers and potential suppliers of other similarly specified products. Whilst the contents of this document are presented in good faith, ICAEW RSM cannot accept liability for actions taken as a result of comments made herein. 8

9 APPENDIX A FEATURE COMPARISON Pro 2016 Premier 2016 Discontinued and Removed Create sales orders & track back orders X Discontinued Units of Measure - buy, sell stock in different units X Discontinued Google Desktop search (X) Removed (X) Removed Adjusts VAT for early payment discounts (After 2013 requires a Work Around) (X) Removed (X) Removed Toggle between different editions of QuickBooks X (X) Removed Build and Track Inventory Assemblies to Finished Goods X Discontinued Open two different company files simultaneously on same machine X (X) Removed New from 2014 Onwards Attach a Document to a Record Income Tracker simplifies working with unbilled, unpaid & paid sales Flat Rate VAT Insights is a new dashboard that has been added to the Home Page Convert to QuickBooks Online Batch Delete/Void Transactions Utility X Remove Send Forms allows you to bulk delete transactions Bill Tracker. Allows you to easily see status of unpaid transactions Data protection. New Verify/Rebuild Feature Pinned tes: w you can pin a note for a customer or vendor Estimates are automatically closed when you fully invoice them Comments on Reports: Take a snapshot of any report, then add notes Send Multiple Reports: Click an button and send a group of reports Organise and Complete Everyday Tasks Lead Manager/Center Quickly locate an account, report, or invoice with QuickBooks Search Stay on top of your receivables with the Collection Centre Complete transactions faster with the convenient access to your customer or vendor's balance and transaction history. Add or edit multiple entries in QuickBooks list from one spreadsheet view Send forms with webmail (Hotmail, Gmail, Yahoo and Others) Track your Balance Sheet by Class X See all your key customer information at a glance with the Customer Add Snapshot your Excel customers, suppliers & products data into QB at once Customize your Company Snapshot Payment Snapshot: one place to view payment flows Create an invoice for multiple customers in single window with batch invoicing See almost due and overdue indicators Easily manage reports with new Report Centre Run reports & back up data while others work in the same company file 9

10 Create estimates, invoices, reports Allow multiple users to work in QuickBooks at the same time Create professional-looking forms with tools to customise forms as PDFs (Batch ) (Batch ) Accept credit card payments in QuickBooks 3 (subscription required) Faster reporting Sort by data type on bank reconciliation window Duplicate sales and purchase transactions and list items Easy delete transactions with Right-Mouse Menu Print Receive Payment Export invoices to Word Track bills and set due-date reminders Customer and Supplier Centres: contact and transaction history in one place (Keyword search all data) Online banking setup & centre Progress Invoicing and automatic recharge of expenses Efficiently Manage Stock Track Stock, set reorder points & create Purchase Orders Customisable columns for Lists Create delivery notes and shipping labels Multiple Delivery Addresses Generate Sales Orders from Estimates X Generate Purchase Orders from Estimates X Generate Purchase Orders from Sales orders X Easily set prices and determine discounts by customer or job X Store Manufacturers Part Numbers on Items Track Bank and Credit Card Accounts Share data with other business applications Customisable reports and graphs (100+ Reports) (135+ Reports) Report Centre Reports and export to Excel Import & Export to and from Word, Excel files & Import Outlook contacts Track loans, Fixed Assets and Vehicle Mileage Short Term Cash Flow Projections Create a Budget Accountant can make changes whilst you still work (Accountants Copy) Easy file send to Accountant Company Snapshot shows key performance indicators for your business Set billing rates by employee, customer/client, position or service X 10

11 Trade in Multiple Currencies Download currency exchange rates Support for over 140 currencies Exchange rate history calendar Create Summary Reports in Home and Foreign values Set multiple foreign sales prices for items Credit memo exchange rates automatically change to match Invoice exchange rates Invoice templates show home and foreign currency totals Wizard to revalue foreign currency holdings, assets and liabilities X VAT Management bbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbb Automatically saves VAT reports during filing as PDFs for easy audit protect Daily Sales Book Report (Show Net, VAT, Gross totals) efile Daily VAT Sales 100 Book Return Report directly (Show to Net, HMRC VAT, Gross totals) Report protection VAT liability on a Cash (payment) basis Report Daily Sales VAT Book liability Report on a (Show Accrual Net, (invoice) VAT, Gross basis totals) VAT efile Centre VAT 100 for Return easy access directly to to common HMRC VAT tasks VAT Report Setup VAT Wizard liability to on change a Cash /(payment) add new VAT basis rates Track Report and VAT report liability EC on VAT a (includes Accrual (invoice) EC Sales basis List report) Default VAT Centre VAT for Codes easy used access to ensure to common correct VAT VAT tasks calc (Goods/Services) (Goods/Services) Accountant VAT Setup Wizard Specific to Tools change / add new VAT rates Starter Track and File report - Use a EC file VAT you (includes customise EC to Sales as a List template report) for other clients X X QuickBooks Default VAT File Codes Manager used to ensure correct VAT calc (Goods/Services) X (Goods/Services) X Accountant Centre Specific Tools X X Send Starter JGE-Accountants File - Use a file you are able customise to journal as a template entries for in a other batch clients X X X Batch QuickBooks Transactions-copy File Manager and paste from Excel X X Password Accountant Protected Centre Closing Date X X Auto Send Reverse JGE-Accountants of Journal are entries able to journal entries in a batch X X One Batch Click Transactions-copy Journal History and paste from Excel X X Adjusted Password TB, Protected Adjusting Closing Journal Date Entries Report X Post Auto journals Reverse directly of Journal to Retained entries Earnings X Financial One Click Statement Journal History designer X Share Adjusted Report TB, Adjusting Templates Journal Entries Report X Retained Post journals Earnings directly QuickZoom to Retained Earnings X Find Financial & fix Statement errors wizard designer X Optimised Share Report for Templates Multiple Users and Locations X Track Retained your Earnings Balance QuickZoom Sheet by Class X Set Find permissions & fix errors levels wizard to control user access X Multiple Optimised User for Access Multiple (with Users purchase and Locations of additional copies) (Up to 5 (Up to 30 Track your Balance Sheet by Class users) X users) Multiuser Set permissions tools (backup levels to and control file locking) user access QuickBooks Multiple User Instant Access Messenger (with purchase of additional copies) (Up to 5 (Up to 30 Access your files from remote locations (additional fees may apply) users) X users) 11

12 5 Security and continuity of processing 5.1 What security features are included to control access to the application? 5.2 Can access to application functions be managed so users can only see (in menus and other links) and access those functions they are authorised to access? 5.3 Is this access to the application managed by: Individual user profiles? User groups based on their job roles? 5.4 If menus can be tailored would this override the application access control? 5.5 Passwords Is access to the software controlled by password? Please state the basis of control available (e.g., role based etc) If there is no password facility please state how confidentiality and accessibility control can be maintained within the software? Are single user systems access controlled by password? Privileges can be assigned to control which modules the users has access to and to limit what the user can do in that particular module, either via Preferences and Setup Users wizard menu tailoring. Access to multi user versions of the system can be controlled by Windows authentication and permissions Individual based 12

13 5.5.5 Does the software allow for each user to have separate log on (user ids)? If : How does the software track user activity? Is each user required to have a personal password? Are passwords one-way encrypted? [i.e. Is it impossible for anyone to see other user s passwords in the software?] Are passwords masked when entered by any user logging in? Is password complexity available at application level? If : Please specify [e.g. Number of digits, requirement for special characters, numeric, upper/lower case etc.] Is there a facility to enforce password changes after a chosen period of time? Is there a facility to specify a minimum age for passwords (e.g. 1 day)? How many previous passwords are retained by the system to limit users recycling passwords (e.g. 24 or 32)? ne 13

14 5.6 Please state how security allows for access to be specified separately for : Read? Option not available Read and write? Via the Set-up Users Wizard Delete and amend? Via the Set-up Users Wizard 5.7 Are any data files, such as budgets or price updates, imported by users validated by the application software before main data files are updated? 5.8 Does the software require higher or specific levels of user access for changes to sensitive data, such as customer credit limits? Check for correct format but no controls over amending the master files 5.9 Please specify the specific security procedures (by passwords or warnings) over the: Update of ledgers Password control to enter transactions then real time update Closing of accounting periods The Administrator can set passwords and close off prior periods Deletion of transactions. Administrator can set privileges so that the user cannot delete transactions Archiving of transactions. archiving 5.10 Is it impossible to delete a transaction? If : How are deletions controlled by the system? 5.11 Are deleted transactions retained in the audit trail and denoted as such? Password controlled, the Audit Trail will document any changes made to all transactions 14

15 5.12 Can a report be produced detailing all current users, via user groups, if relevant, and their authority levels and/or access rights? 5.13 If data can be accessed by separate reporting facilities, such as ODBC or separate report writer, is the user access security control applied? If : Please explain any other protection in place to prevent unauthorised access to data with such facilities Is the level of security (described with this section) appropriate for the expected size of business using the software? 5.16 Is there a clear indication in the software or manuals as to how the data is: Backed-up? Recovered? 5.17 Back ups How are back ups provided: Within the software application? Within the operating software? Are backup procedures automatic?, on screen only in the User List Info window the current privileges of all users are shown. Most systems have a limited number of users Intuit recommend that users back up their data regularly and where possible keep at least one recent backup off site, both the online help and the file menus cover this., but there are automatic reminders 15

16 Is the user forced or prompted to back-up at certain intervals? Can the intervals be customised? Automatic reminders 5.18 Recovery Please state how the software facilitates recovery procedures in the event of software failure? (E.g. roll back to the last completed transaction) If software failure occurs part way through a batch or transaction, will the operator have to re-input the batch or only the transaction being input at the time of the failure? QuickBooks will roll back to the last fully recorded transaction in the event of system failure batches Are these automated? Do the recovery procedures work? 5.19 What features are available within the software to help track down processing problems? The file verify utility will flag any transactions that have not been processed correctly and checks for incorrect account balances and balancing the trial balance 5.20 Are software messages clear? 5.21 Are user responses properly structured to ensure that erroneous key strikes do not lead to inappropriate actions? 16

17 5.22 I s there a software log which details: Error messages? Security violations? 5.23 Audit trail Does the software have a detailed audit trail? Is it impossible to turn off or delete the audit trail? Does the software allocate a system generated sequential unique reference number to each transaction? Is this stamped with a user id? Is this unique reference number presented to the user at time of input? Is this unique reference number available to view, by the end user and by way of a report? Is the transaction date and time stamped? Are all master file changes recorded in the audit trail? If : Does each change have a system generated reference allocated? Are the originator and authoriser identified? Is the change date and time stamped?, but transactions only, but each transaction has date & time stamp & the date last modified 17

18 Are all standing data changes recorded in the audit trail? If : Does each change have a system generated reference allocated? Are the originator and authoriser identified? Is the change date and time stamped? Is all input data included within the audit trail, including amendments, deletions, journals etc.? Does the software allocate a system generated unique reference number to each amendment, deletions journal? Is this stamped with a user id? Is this unique reference number presented to the user at time of input? Is the transaction date and time stamped? How is it linked to the original Generally no. Account name changes will be shown in transactions in the audit trail., all transactions, internally, but not available to the user For amended transactions the Audit trail shows prior and latest. For deleted transactions 18

19 transaction? Are imported /interfaced transactions detailed in the audit trail? Is each stamped with a user id? Is this unique reference number presented to the user at time of input? Is the transaction date and time stamped? How are transactions differentiated within the audit trail? 5.24 What are the procedures for handling dates? (E.g. 2 digit years, 4 digit years) In the case of two digits what is the break point for the century? Are dates handled consistently throughout the software? the user would have to manually add a link import of transactions Individual transactions are presented line by line and by type Fixed date format with 4 digit year 19

20 6 Input of transactions The following sections in Input of transactions, File maintenance, Processing and Reports are primarily aimed at the three main accounting ledgers and where applicable Sales Order Processing, Sales Invoicing, Purchase Order Processing and Stock Control. 6.1 Is data input controlled by selfexplanatory menu options? 6.2 Are these menus applicationspecific? 6.3 Does the software provide input validation checks such as account code validation, reasonableness (limits, VAT or discount checking) and validity checks (VAT check-digit calculations)? 6.4 Can the user amend data on an input screen prior to update?, validation of account codes and VAT rules, but no reasonableness checks 6.5 What control features are within the software to ensure completeness and accuracy of data input? 6.6 Are all input transactions subject to this control? 6.7 How does the software ensure uniqueness of the input transactions? (i.e. to avoid duplicate transactions) All information is entered on a transaction basis. All relevant information must be entered. QuickBooks validates the information before it is posted e.g. debits and credits of a journal must balance before it is posted A warning message will be presented to the user when the user attempts to save a transaction with a duplicate transaction number but this can be overridden 20

21 6.8 Does the software allow for batch control totals? If : Are batches automatically numbered? Are batches forced to balance before ledger update? Does the software allow the temporary halting of input of a batch to allow for queries or other activities to take priority (e.g. set up a new account) Is the user forced to confirm batch totals? 6.9 Is attempted posting of unbalanced journals rejected? (G/L) Are input errors highlighted? If are they: Rejected and reported on screen? Rejected and error reports generated? Accepted and posted to suspense? 6.11 Does the software have an automatic facility to correct/reverse/delete transactions? If : Are all the double entry transactions documented in the audit trail?, on screen only 21

22 6.12 What are the controls to ensure the internal integrity of the ledger(s) or the accounting information, e.g., control of accounts Is it possible to allocate input values directly to ledger control accounts? If : Please note the mechanisms available to allow the user to establish why the total balances on individual accounts do not agree to a respective control account? 6.14 Can automatic accruals or prepayments be generated? If : Will these automatically be reversed after the period end? (G/L) 6.15 Does the software have a purchase invoice register? As the double entry for all transactions is automatically generated and the General Ledger updated at the time of each transaction, the internal integrity is assured. Any user can confirm this by displaying the Balance Sheet (or trial balance which always balances) It is possible to make journal entries directly to a control account User can post journal directly to Sales Ledger and Purchase Ledger control accounts, but have to allocate a customer or supplier name. The report will pick up the entry made under the customer/supplier name, but will not show it on the aged analysis Pro: Premier: Pro: Premier: 6.16 Does the software permit multi debit/credit journals? 6.17 Can journals be saved as template with GL codes and cost centres and either with or without monetary amounts? but can create a copy or memorise. 22

23 6.18 Can journals be set up to distribute amounts in a fixed percentage against GL/Cost centre codes? 6.19 How are transactions identified on screen/reports as to: Type? Debit or credit? - values only Transaction name (type is specified in S/L & P/L) Depending in the report it will appears as a positive/negative or in the appropriate Debit/Credit column in G/L 6.20 Can separate nominal analysis codes be input for each invoice line? If : Does this cover: Sales ledger? Purchase ledger? Stock? 6.21 Can receipts and payments be matched to specific invoices? If : Automatic? Manual? Both? 6.22 Will the software permit part payments? 6.23 Will the software allow: Payments to be made to customers? Receipts to be received from suppliers? manual receipt, use either debit note or bank payment 23

24 6.24 Does the software handle purchase credit notes? Is there an ability to automatically amend stock, if applicable? 6.25 Can the software generate sales credit notes? If yes: Is there an ability to match to a sales invoice?, but the it s a manual entry Is there an ability to automatically amend stock, if applicable? 6.26 Does the software handle discounts and promotions? 6.27 Does the software provide for early settlement discounts? Can early settlement discounts be automatically generated? Are there controls over accepting settlement discounts (e.g. time limits)? Is VAT treated correctly on early settlement discounts? 6.28 Will the software permit the posting of unallocated cash to the ledgers?, but discounts only, only manually Only manually Does this apply to: Sales ledger? Purchase ledger? 6.29 Are unallocated cash/credit notes specifically reported for follow up? specific report but can be seen by the user on the customer/supplier accounts 24

25 6.30 Are outstanding transactions displayed for allocation? If :- Does this apply to: Sales ledger? Purchase ledger? 6.31 Does the system allow the user to post or allocate a payment or receipt with a date prior to the invoice transaction date? If : Is the user warned that the aged balance values may not agree to the trial balance values? - if the period is closed a warning is given but user is not prevented from making the entry only the general warning at the point of posting 6.32 Is it possible for new accounts to be created during input? If :- Does this cover: Sales? Purchases? General? Stock? 6.33 What controls are there over the creation of new accounts? Is the originator and/or authoriser identification logged by the software? 6.34 Is the user prevented or warned from overriding credit limits or discounts? (S/L) Does the software have a bank reconciliation facility? Wizard to help user create the right type of account but no password control Credit limits - warning - Discounts up to 99.99%, plus online link to bank 25

26 6.36 Does the software enable transactions to be posted to the ledgers whilst performing a bank reconciliation (e.g. standing charges, bank charges etc)? 6.37 Are these adequately reported? Refresh of screen needed 6.38 Does the software accept input files from other computer packages? If : What formats are accepted? What controls are in place over the interface? 6.39 Does the software have a facility for calculating interest on late payments?, customers, suppliers and stock items but not transactions In IIF or Excel format but limited to names and addresses plus items, not transactions The import file must be in the correct format and this is validated by the system on import, user option 26

27 7 File maintenance 7.1 Are ledgers: Open item? Balance forward? Does the above cover: Sales ledger? Purchase ledger? General ledger? 7.2 Is a month end routine required to be undertaken? 7.3 Is the creation or amendment of standing data (e.g. customer account details) controlled by menu options? either from menu or GUI 7.4 Are menus: Application specific? User specific? 7.5 Is it impossible to delete accounts if the balance if Nil but transactions have been recorded against the code. Does this apply to: General Ledger? It is impossible to delete accounts but they can be made inactive Sales Ledger? Purchase Ledger? Stock? 7.6 Are there any other constraints over the deletion of accounts? 7.7 What is the size and format of reference numbers and descriptions within: General Ledger? 7 A/N code 31 A/N length Name 27

28 7.7.2 Sales Ledger? code, 42 A/N length name Purchase Ledger? code, 42 A/N length name Stock? 31 A/N code unlimited length name 7.8 Is the scope of the reference number adequate to permit sufficient depth of analysis? 7.9 How does the software guard against/warn about, duplicate account numbers on set up? 7.10 How does the software enable the traceability - from, to and through the accounting records - of any source document or interfaced transaction? 7.11 What drill down/around functionality is available within the software? 7.12 Can reports be invoked which identify all the fields which have been modified? 7.13 If the software uses a lot of standing information which changes frequently or regularly, does the software allow for such changes to be effected through the use of parameters or tables? If : Is the use of such parameters or tables adequately reported? Analysis Accounts with the same name (G/L Number) cannot be set up a message is presented to the user Traceability is achieved using the QuickZoom feature. This enables customers to double click on a number to display the appropriate transaction Drill down is achieved by using the QuickZoom feature. This enables customer to double click on a number to display the appropriate transaction transactions only shown in Audit Trail but list can be seen on the screen 28

29 7.14 What controls are within the software over changes to parameters and tables e.g. reporting, password etc? Limited controls using user access privileges and passwords 7.15 Does the software allow selective archiving of old data on a userdefined basis? 7.16 What controls are in place over the handling of archived data? 7.17 Can archived data be used for reporting purposes? 7.18 Does the software allow for the restoration of achieved data for audit without affecting current accounting data? archiving, from a previous back-up but not from achieving 29

30 8 Processing 8.1 Does the software ensure that menu options or programs are executed in the correct sequence (e.g. ensure outstanding transactions are processed before month end procedures run)? 8.2 After an external document (e.g. sales invoice or cheque payment) has been generated and posted to the accounts is it impossible to amend this data? 8.3 Is there an audit trail of all changes to transactions which have updated the ledgers? 8.4 Can the software calculate prices or values by reference to master file data? 8.5 Does the software provide automatic recalculation, where appropriate, of data input? (e.g. VAT) 8.6 Does the software warn the user when the ledger is out of balance? 8.7 How is this done e.g. when the software is switching on or on ledger update? no formal month end procedures It is possible with password control, but all changes are recorded in the Audit Trail warning, but the design of the system precludes data getting out of balance unless it is corrupted 30

31 9 Performance of requisite accounting functions 9.1 What control features are provided by the software to support effective user controls? Multiple messages & validations 9.2 Is there: Transaction sequencing? Automatic dating of posting transactions? Identification of user id or source of document? 9.3 Is the software available as multi user? by type of document User ID and type of document, Pro: up to 5 users, Premier: up to 30 users 9.4 Can the same function be used by more than one person at the same time, whilst still retaining the separate user identities? 9.5 Is the software available as multicompany? If : How many companies are supported? 9.6 Is a group consolidation facility available? 9.7 Can the software consolidate entities with different charts of accounts? 9.8 How many levels of nominal analysis can be handled by the software? 9.9 How does the software handle cost centres, departments, Up to 99 companies Few using filters Classes filed can be used for unlimited cost centres, or 31

32 divisions? 9.10 How are periods handled by the software? departments or branches (only category), plus projects. The reports can consolidate classes. User specified dates on reports 9.11 How many: Accounting periods can be limit. Open periods by date set up? range Years can be set up? limit. Open years by date range 9.12 Can the length/ number of periods be adjusted to suit different customer requirements? 9.13 How many accounting periods can be open at any one time? 9.14 How many years can be open at any one time? 9.15 Can a period or year be re-opened after it has been closed? If : What controls are in place over this function? If : Is the data archived on the server? Is this accessible for reporting purposes? Can a previous year be restored from backup? 9.16 Can data from all accounting periods and years be accessed at any one time? Unlimited, unless closed to a specific date Unlimited, unless closed to a specific date Can only be opened by an administrator with optional closing date password 32

33 9.17 Can previous months and years be accessed for enquiries or reports? 9.18 Does the software handle posting date as well as document date? If : Are transactions analysed by posting date or document date? 9.19 Can transactions be posted to more than one accounting period at any point in time? just the document date, unless the accounting period has been closed off 9.20 Does this cover: General ledger? Sales ledger? Purchase ledger? 9.21 Is it possible to allocate transactions to: Future periods?, warning message is given and entries for future periods are marked with distinctive line on the register (after entry) Previous closed periods? t possible unless the period is reopened or the transaction is authorised by the administrator with password controls A previously closed year? t possible unless the prior year is reopened or the transaction is authorised by the administrator with password controls If : What controls are in place e.g. level of authorisation and on screen warnings? Will the software revise subsequent periods accordingly? An optional closing date password can be specified 9.22 How will transactions outside the 33

34 current period be: Reported Accounted for in the VAT return? Will be included in reports Late entries will automatically be included in brought forward values to the current VAT return 9.23 Does the software permit use of budgets and provide comparisons between budgets and actuals? If : How many versions of 1 budget and 1 forecast budgets/forecasts can be maintained on the system? 9.24 Are budgets available for:, including sales & purchase General ledger? analysis Sales ledger? Purchase ledger? Overheads? Balance sheet? 9.25 Can budgets be set by: Period? Monthly Annually? can be populated from a single month 9.26 Can the software automatically generate budgets? Please state how this is achieved. The Budget s wizard will analyse historical data and project that into new periods 9.27 What is the maximum value of transactions and of totals that can be handled by the software? 9.28 What is the maximum number of transactions that can be handled by the software? 999 million As stated 99 million As stated 9.29 What is the maximum number of accounts on each ledger: Sales ledger? 10,000 As stated 34

35 Purchase ledger? 10,000 As stated General ledger? 10,000 As stated 35

36 10 Reports 10.1 Are all reports adequately titled and dated? (E.g. report name, client name, data, period, batch, last entry number, period end, pages, numbers etc.) 10.2 Do the reports provide totals where applicable? 10.3 Are these totals calculated or taken from a control file? Please state the reports that do not feature calculated totals Is it clear when the report has ended? (totals or end markers) 10.5 Can reports be saved in electronic format (as distinct from just printing)? Are such files adequately protected from deletion or amendment? 10.6 Is a report writer provided as part of the software or as an add on? Please state the name of any third party package. Calculated Lists do not have calculated totals, totals but no end of report markers, either as a PDF or exported to Excel and saved in that format It is up to the user to protect the files but all reports are capable of being re-produced. Reports can also be 'memorised' (filters, date range and other report changes can be saved for re-use). All reports are customisable. Financial Statement Designer is available in Premier edition. It is aimed at external accountants. (Balance sheet, Income Statement and cash flow etc.). third party package available 10.7 What level of knowledge is required to use the report writer Very little knowledge is requires so a beginner could use the 36

37 e.g. beginner, regular user, expert? 10.8 Can the report writer make use of user-defined fields (including external fields)? 10.9 Does the report writer enable: Separate access to each system area? Reports to be prepared which combines related data from a number of system areas (e.g. Customers Sales Stock items) in the same report? Can users define the parameters, columns, fields and selection criteria used on reports reported? Are standard reports always produced, even when they are nil returns? Is there an option for reports to exclude nil balances, this year or where there are nil balances this year and last year, to enable a comparative report to be produced with the completeness of both years being maintained? Can screen layouts, reports and transaction formats be easily adapted to users requirements? customisable reports. The Financial Statement generator is aimed at external accounts, so it is assumed that they are regular users., but not external fields only the General Ledger The screen layouts and report formats can be adapted but not transaction formats 37

38 10.14 Can a hard copy be produced of all screen enquiries? Can transaction files for all previous periods of the year be retained in the software to permit enquiries and reports? Are reports of all changes to standing data on customers, suppliers, tax rates etc automatically generated or stored for later printing? If : Is the report able to capture the nature of the change, user id and data and time of the change? Are all transactions on all reports individually identifiable? Do the reports show whether items are debit or credit? Do reports give sufficient narrative and coding to enable cross referencing? Is it possible to drill down from reports to the ledgers and original transactions?, but not tables, but latest state can be viewed on screen, either credit/debit or +/- in some reports, unless user defined fields are used Can the software produce all requisite reports: Day books Trial balance Profit and loss account Balance sheet Aged debtors Aged creditors 38

39 Aged stock Aged unallocated cash (debtors) Aged unallocated cash (creditors) Budgets Cash flow statement, based on due dates VAT reports VAT form EC Sales Listings Intrastat returns (SSD) Are the above reports standard within the software or do they have to be written? Is the age criteria fixed or user definable? Can the aged analysis and day book reports be in summary and detail? Do standard reporting options give sufficient flexibility to tailor individual reports? Standard User definable and user can also define whether it is from due date or transaction date Either Can all reports be reproduced after the period end but at the month end date: Transaction listings?, can define end date Day books?, can define end date Trial balance?, can define end date Is it possible to print out retrospective month end aged sales and purchase ledger reports that agree back to the month end trial balance control account figures as at the month end?, can define end date 39

40 10.28 Do the standard budget reports provide sufficient analysis of variances? Do such reports provide exception reporting, percentage analysis and comparatives? Do standard reports show sufficient analysis of trading results? (E.g. sales analysis by region)? Are all movements during each accounting period shown on sales, purchase, general, stock ledger detail reports? Do the sales and purchase ledger reports show how all partial payments or allocations (unallocated cash) have been treated? Is there a general ledger report that shows balances brought forward and carried forward plus all posted transactions in the period? Is a trial balance available? Is this in summary or detailed format? Can the management accounts, profit and loss account and balance sheet be sufficiently analysed by:. Provider s basic variance analysis. The report shows actual, budget and difference in monetary and percentage basis. Budgets can only be created for General Ledger confirmed accounts, but some analysis is possible for customers, jobs and classes on monthly basis for the financial year. Sales by customer, item and representative can be reported., only on individual accounts the General Ledger Report does show the details Both, detail via drill down 40

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