CGA-BC's Outlook magazine publishes its third annual accounting software review

VANCOUVER, Nov. 1, 2011 /CNW/ - Outlook magazine, published by the Certified General Accountants Association of British Columbia (CGA-BC), has released its third annual accounting software review. The comprehensive analysis and evaluation of the major accounting software packages was prepared by Alan Salmon, one of North America's leading experts on accounting technology.

This year's review examines the Canadian accounting software products that have wide usage in small and medium-sized businesses. It covers three significant vendors in the Canadian Entry Level market: Intuit Canada's QuickBooks and Sage Simply Accounting, which together account for more than 95 per cent of sales in this market segment, along with a new vendor called Wave Accounting.

The review of mid-market level vendors includes: Adagio by Softrak, Blue Link, Connected Accounting & ERP by Accountek, Microsoft Dynamics GP, Microsoft Dynamics NAV, Microsoft Dynamics SL, Sage Accpac, Sage BusinessVision, and SYSPRO.

The review also includes a discussion of the major technological developments affecting the accounting industry, including workflow, customization and cloud computing. "Cloud computing will, over time, move accounting software into a new dimension," says Salmon. "Doing accounting in the cloud will mean that everyone in the organization can have the same information, at the same time, with a common set of applications that are easily accessible via the cloud."

In fact, the major accounting software vendors are moving their products to the cloud. Microsoft will have cloud versions of Dynamics GP and Dynamics NAV early next year. Sage will launch its cloud versions in late 2011 and 2012, including a new small business cloud solution. Many publishers are also recruiting commercial hosting companies to provide hosted versions of their client-server based applications.

While the movement is definitely gaining momentum, Salmon notes that there will be serious resistance to doing accounting in the cloud. "Major concerns include data security, backups, legal issues as to who owns the data and concerns about Internet shut downs," he says. "Those adopting cloud-based solutions should have a clearly documented strategy for getting their data out of the product should they decide to make a change."

Salmon's overall assessment of accounting software is that it remains in a stable environment and radical changes are not on the horizon. "The focus of the software vendors is making their products more user friendly," he says. "The enhancements that we will see in 2012 will continue that trend."

To read Outlook's detailed review of the latest accounting software, please visit the CGA-BC website at Accounting Software Review.

ABOUT OUTLOOK MAGAZINE
Outlook is published quarterly by CGA-BC and has a circulation that includes more than 10,000 Certified General Accountants and nearly 5,000 CGA students. It is considered one of the country's leading publications on matters affecting the accounting profession.

ABOUT ALAN SALMON
Alan Salmon is the CEO of K2 Enterprises Canada, a worldwide consulting firm providing technology training to accountants. In addition to his work with consultants, accountants, and software companies in both Canada and the US, he is the chairperson of the Accounting Technology seminar series. He can be reached by email at alan@k2e.ca  or by visiting www.k2e.ca.

ABOUT CGA-BC
As the province's largest professional accounting association, CGA-BC represents nearly 15,000 CGAs and students. Members work in industry, commerce, government and in public practice. The Association promotes the excellence of its members and advances the accounting profession through education, certification and the protection of the public interest.

CGA-BC leads the profession in the integration of ethics into its academic program, and all new graduates of the CGA program are required to complete a rules and standards course to complement an ongoing ethics requirement for members.

The Association also offers a wide range of employment services and programs to its members, students and the business community. These services include CGAjobs.org, a job postings website for finance and accounting professionals, and the Partners in Employment Program (PEP), which recognizes organizations that provide an effective working and training environment for CGAs and CGA students.

SOURCE Certified General Accountants Association of British Columbia

For further information:

Edward Downing, Director of Communications
Telephone: (604) 730-6208
E-mail: edowning@cga-bc.org
www.cga-bc.org

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Certified General Accountants Association of British Columbia

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