Best Accounting Software for CPA Firms 2024

To ensure future success in 2024 and beyond, progressive accounting firms should integrate the following software types into their operations.

The following are the various categories of software designed for accounting firms:

• Xero
• Wave
• QuickBooks Desktop Enterprise
• BQE CORE Suite
• QuickBooks Online Advanced
• Flexi software
• Prophix

Xero

A global small business platform with 3.95 million subscribers, Xero handles core accounting, payroll, workforce management, expenses, and projects. Xero’s open platform offers a variety of solutions to help small businesses run and manage their finances, thanks to its extensive ecosystem of connected apps and bank and financial institution connections. Xero sponsors FIFA Women’s Football.

Benefits of using Xero:

• Safeguard accounting data.
• Use iPhone/iPad/Android/tablet to access accounts online anytime, anywhere.
• Real-time data improves cash flow visibility.
• Save time on account maintenance.
• Free software updates are available upon login.
• Work with the team and an

Wave Accounting:

For small businesses with 9 or fewer employees, Wave accounting is fully integrated. Our sole focus on small business owners means you’ll never have to navigate inflated or cluttered to find what you need now. An easy-to-use interface and single login make finding what you need when you need it easier than ever.

You’ll see all the tools you need to better understand your personal and business finances with one login. Invoicing, payroll, and investment tracking no longer require multiple logins. Getting organized has never been cheaper with free accounting and invoicing tools and affordable payroll.

Wave helps you get paid faster, understand your business’s finances, track your spending, and pay your employees.

QuickBooks Desktop Enterprise:

QuickBooks Desktop Enterprise grows with small businesses as an end-to-end accounting solution. Inventory, sales, reports, and payroll are managed by the software. Industry-specific QuickBooks Desktop Enterprise solutions are available for contractors, retail, manufacturing, wholesale, and nonprofits.

Key features and reports of QuickBooks Desktop Enterprise include industry-specific solutions with special features and reports for manufacturing, contracting, wholesale, retail, professional services, and non-profit organizations.

• User roles and permissions can be set for over 115 activities to give team members access to the information they need while keeping the rest private.
• QuickBooks Desktop Enterprise’s Advanced Inventory tracks inventory from bin to sale using mobile barcode scanning.
• One dashboard manages picking, packing, and shipping workflows.

BQE CORE Suite:

The easy tools provided by BQE’s powerful all-in-one platform with expert support enable architecture, consulting, and engineering firms to satisfy firm expectations, empower their teams, maximize profitability, and deliver superior client results.

BQE was designed by architects and engineers for A&E. A platform that understands and supports your firm with specialized tools is essential. After running successful A&E firms, our founders built the best platform from scratch. We support A&E’s unique needs. No one understands your pain points like us.

Key benefits of the BQE Core Suite:

Increased efficiency

BQE CORE automates repetitive tasks and centralizes billing, projects, accounting contacts, files, and more.

Accelerates Cashflow

CORE tracks hours accurately and offers flexible billing to ensure no billable hours are missed.

QuickBooks Online Advanced

Enterprise management and assessment software QuickBooks Online Advanced lets users manage their entire financial portfolio. One mobile-friendly dashboard displays inbound and outbound sales, inventory, payroll, tax payments, and distribution. Online support, video tutorials, and on-call assistance are available. QuickBooks support is available from setup to inquiries.

QuickBooks Online Advanced allows multi-device, remote work. Users can access and manage their books from their computer, laptop, tablet, or smartphone and grant access privileges to colleagues or accountants to work with their data online. You can also send custom online invoices from any device. Custom reporting, KPI tracking, expense tracking, accounting reports, and cash flow management are also important QuickBooks Online Advanced features. QuickBooks Online Advanced offers data security and automatic backups.

Key benefits of QuickBooks Online Advanced:

• Billing, invoicing, and banking: QuickBooks Online Advanced allows businesses to process payroll, tax returns, and mobile payments and view their entire online financial portfolio.
• QuickBooks Online Advanced lets users track and manage inventory and coordinate distribution to assess productivity/transportation and create user permissions.
• QuickBooks Online Advanced has a dedicated support team to answer your questions. Priority Circle offers user training.
• QuickBooks Online Advanced supports up to 25 online collaborators with task delegation, user permission management, and more.

Flexi software:

Businesses looking for enterprise-strength platforms with flexibility and individualized support can consider Flexi’s accounting software for businesses.

For over 30 years, Flexi has powered leading brands in banking, insurance, and healthcare, where security and performance are crucial. Complex accounting environments benefit from Flexi

Software’s features:

• Multi-entity consolidation
• Multi-book accounting
• Daily close
• Built-in compliance and audit controls
• Workflow automation
• Global currency conversion
• Real-time advanced reporting

Flexi’s enterprise-strength accounting software is ideal for industries that value security, performance, scalability, and flexibility. Insurance, banks, credit unions, finance, healthcare, hospitality, transportation, and utilities.

Prophix:

Financial consolidation, budgeting, analysis, planning, and management reporting are done with Prophix. The spreadsheet-like interface helps users organize and analyze financial data. Prophix is suitable for financial services, construction, government, and utilities and can be deployed in the cloud or on-premises.

Users can manage budgeting, cash flow, balance sheets, and income statements in Prophix. Also available: are data analysis tools. The solution supports top-down, bottom-up, zero-based, and activity-based financial and non-financial budgeting.