AccountEdge is a small business accounting software package developed by a company called Priority Software. As a locally hosted desktop accounting software, AccountEdge has a one-time cost to your business – rather than the monthly subscription costs that cloud accounting software typically entails.
AccountEdge software options
AccountEdge will be one of your easiest corporate accounting software options with its two plans.
AccountEdge Basic is a desktop accounting software option that provides general ledger accounting features, bank synchronization, sales tracking, and credit card payment.
AccountEdge Basic has a one-time charge of $ 149 for new users or $ 99 to upgrade your software from a previous version of AccountEdge.
AccountEdge Pro is also a desktop accounting software, but unlike AccountEdge Basic, AccountEdge Pro offers some cloud collaboration features.
In addition to all of the features AccountEdge Basic offers, AccountEdge Pro allows up to 10 users and offers payroll functions, time accounting, inventory management and purchase tracking.
For new users, AccountEdge Pro is a one-time payment of $ 399. A single user upgrade to AccountEdge Pro is $ 199 and a multi-user AccountEdge Pro upgrade is $ 299.
With the AccountEdge software you can also connect add-on functions to the functions of your accounting software. Thanks to this additional system that AccountEdge offers, you do not have to settle for universal accounting software. If you think the AccountEdge software is missing a critical feature, check out these add-on options to see if one – or many of them – addresses your weakness:
If you absolutely need cloud collaboration functionality but only need the functionality AccountEdge Basic offers, consider this add-on. When you buy this add-on in conjunction with AccountEdge Basic, you can access the cloud accessibility of the Pro plan – without all the other bells and whistles. This add-on feature starts at $ 10 per month for one user access and costs up to $ 100 per month for up to 50 users.
If payroll is the feature you absolutely need in your accounting software, there are add-on options for that too. You can choose from three levels of this add-on: payroll tax service, payroll tax service plus support and full-service payroll. Additional payroll starts at $ 249 per year.
With AccountEdge software, direct deposit is a separate add-on – and a separate fee – from the payroll services add-on. In order to pay your employees quickly and efficiently within AccountEdge, you should probably set this up. There are a few costs associated with this add-on: a setup fee of $ 49.95, a fee of $ 0.99 per transaction, a monthly access fee of $ 14.95, and a fee of $ 2.50 for rejected items.
If you have an earlier version of AccountEdge software and want to access the ability to accept credit card payments – without performing a full update – you can opt for the credit card add-on option. AccountEdge offers a fully integrated merchant account for users who wish to accept credit cards from their customers.
You can choose between two different payment plans for this add-on – the Variable Fee option, which includes a monthly fee of $ 15 and lower fees per transaction, or the Flat Fee option, which has no monthly fee but higher fees per transaction.
To offer an online payment link on your invoices, you need to access the Web Pay add-on for the AccountEdge software. With this easy-pay option, it will likely be a lot easier and, most importantly, faster for your customers to fulfill the bills you send.
To access this add-on, you need to choose an accounting software that is activated with AccountEdge Connect and You need an AccountEdge merchant account.
You also have the option to link your AccountEdge account to your company’s Shopify account. By synchronizing the data between these two accounts, your company’s bookkeeping becomes even more efficient. Note that you need a version of AccountEdge software from 2018 or higher.
Checks and forms
Finally, you can access check and forms printing features through AccountEdge software. You can print custom business checks and forms such as invoices, purchase orders, and tax forms. The prices for these features are not included on the website, but AccountEdge mentions that you can get a 25% discount on your first order.
Not entirely convinced that one of the possible versions of AccountEdge is the right accounting software for you? Fortunately, AccountEdge has plenty of worthy competitors, some of which may be better for your business.
If you are looking for desktop accounting software, we recommend checking out QuickBooks Desktop.
QuickBooks is generally the industry leading accounting software solution, so it may be better to go with this market leader as opposed to AccountEdge. You will likely get more services and support.
QuickBooks Desktop accounting software is a locally hosted option, which means your company’s books are far from the cloud. You cannot access your account from any device like you would with cloud-based accounting software. However, QuickBooks Desktop has some fairly powerful accounting features that make this option particularly suitable for inventory-based businesses.
QuickBooks Desktop is available in three versions – QuickBooks Pro, QuickBooks Premier, and QuickBooks Enterprise – at one-time costs of $ 299.95, $ 499.95, and $ 1,155, respectively.
Alternatively, if you want to access your accounting data from any device with an internet connection, you need to opt for cloud-based accounting software. Unlike AccountEdge and QuickBooks Desktop QuickBooks Online is always hosted in the cloud – and you don’t have to pay extra for cloud collaboration.
QuickBooks Online is also available in three versions, all of which are offered on a monthly subscription basis. Simple Start is the simplest version and costs just $ 20. Essentials is the next step and costs $ 40. Plus will eventually be the top performing version of QuickBooks Online and cost $ 70.
Wave accounting software
Finally, if you’re just starting out and don’t really need something as powerful as QuickBooks or AccountEdge, then free accounting software might be a better starting block for you. If this is the case, then take a look wave Accounting software.
You can access basic accounting functions for free using Wave accounting software, and send invoices and track receipts using free add-ons. You can also access card payments and payroll as usage-based add-ons.
While investing in accounting apps and software early on is important, Wave could be an entry-level solution to your accounting needs.
A version of this article was first published on Fundera, a subsidiary of NerdWallet