Accounting trial balance & working paper software
Accounting For Practitioners - Release 5 - Trial Balance and Working Paper Software That Runs in Excel!
Accounting For Practitioners (AFP) is an Excel-based working paper, trial balance and financial statement program with full write-up capabilities.
To run AFP, only a basic spreadsheet knowledge is required. The program is organized in a logical, easy-to-follow sequence.
Since AFP is so easy to learn and use, staff training costs are negligible. The program can be put to use immediately. There are no templates to build or purchase, and no formulas or links to create.
Whether the engagement is a compilation, review or audit, a host of features help you do the work easily and efficiently: easy client setup, rapid data entry, automatic presentation-quality financial statements, complete working papers, and context sensitive help.
Key Features
Client setup is as easy as entering the client's name, address, contact names, accounting period, and identifying the practitioner and type of engagement. AFP will automatically create the appropriate engagement letter, accountant's report and representation letter, including letterheads if required.
The trial balance can be imported from any accounting software that can export to a text file, an Excel file or can be entered directly into AFP's pre-formatted trial balance. As many accounts as required are accommodated. If importing, AFP's point and click feature make account mapping a non-issue. When the trial balance is imported the following year, AFP will detect whether the client has added or deleted accounts, or changed account names.
Similarly, client data such as the general ledger, any journal or any listing can be imported into AFP. Numerous options are available to analyze the data automatically - searches can be made for amounts equal to, greater than, or less than a specific amount. The search can be made within the entire database or within a particular account. As well, when searching for text, AFP supports wildcard characters such as * and ?.
Additional Excel workbooks covering field work, client data, or containing additional firm procedures, can be imported into AFP.
AFP can export to major tax programs and supports forms 1120, 1120S, 1065, and 1040 Sch. C.
AFP files can be locked for compliance with the Sarbanes-Oxley Act of 2002. As well, an activity log (which includes an automatic entry indicating the date the file was locked) can be created for each engagement.
Journal entry types include adjusting/normal, potential, reclassifying, interim, reccuring, reversing, and tax. Tax entries can be one-sided or balanced. Trial balance views include financial statement, client, prior years, and tax.
Comparative lead sheets and grouping schedules are prepared automatically. As much analysis and commentary as required can be added to the leadsheets and grouping schedules.
Financial statements are fully integrated and prepared automatically. There are no transfers or extra links required between the accounting details and financial statements - everything needed is in one program. AFP features smart dollar signs, page numbering, smart index and smart headings. Rounding is automatic. Supplementary schedules are automatically prepared.
Statement headings are inserted automatically and can be centered, left-justified or right-justified; the current year column can be boldfaced or plain; zero balance accounts in the current and prior years are suppressed automatically; the prior year column can be hidden or shown. AFP's smart dollar signs can be positioned at the top of the column or with the first amount. Underlining can be full page width or two column width. An expandable, customizable notes library make notes preparation a matter of point and click.
Printing financial statements is simply a matter of selecting "Print" from the AFP menu. There are no separate printing programs to learn and no additional templates to purchase or build.
Recording transactions for client accounting is as easy as selecting "Transactions and Journal Entries" from the menu and choosing the appropriate journal: checks, deposits, sales, or general journal. New accounts can be added "on the fly".
Recurring payees and their related account numbers can be entered automatically. When exiting from the check, deposit, or sales journals, AFP creates an automatic offset to a default account or prompts for an account of your choice.
The bank reconciliation feature handles as many bank accounts as required. Only items pertaining to the current bank account are displayed. Previously cleared items are suppressed.
Errors can be corrected by over typing the errant data. Out-of-balance indicators for each journal as well as the trial balance ensure errors are found quickly. The closing entry and file setup for the following year is automatic - the process is completed within seconds.
Analyzing accounts is as easy as selecting "Account Analysis" from the menu. Accounts can be analyzed for the full period or any partial period.
If not doing client accounting or a write-up, all related features can be suppressed automatically.
Fixed asset amortization and depreciation can be calculated automatically. Long term loan amortization schedules are provided for up to 26 term loans payable and receivable. Up to five years historical ratio analysis is completed automatically. Similarly, income and expense percentage analysis for the current and up to four prior years is a matter of clicking on the "Create Ratios" menu item.
If doing monthly bookkeeping, monthly income statements are prepared automatically, displaying the results for each month in the current year, along with a full prior year comparison. It's as easy as clicking on the AFP menu and selecting "Create Monthly Financial Statements".
Three Versions Available:
AFP Standard, AFP Gold & AFP Light
AFP Standard contains all of the features mentioned above. It is compatible with Excel 2000 through to Excel 2007 and is licensed for up to five users in the same firm and office.
AFP Gold paves the way to a paperless office. AFP Gold retains all of the features of AFP Standard and adds several additional features. These include:
- Scanned Documents: Scan an unlimited number of documents into AFP. As each document is scanned AFP creates an index for instant, easy automatic retrieval. Scanned documents may be placed in the current or permanent file.
- Consolidations: Consolidate up to 80 dissimilar companies automatically. After recording eliminations, the financial statements are client ready.
- Trend Analysis: AFP can automatically create a trend analysis for each income statement account based on up to five prior years data.
- PDF Format: Create draft or final financial statements in PDF format automatically. Simply click on PDF in the AFP menu and it's done.
- Operating Budgets: Create operating budgets including variance analysis, for an unlimited number of departments and company wide.
- AFP Gold is compatible with Excel 2000 through to Excel 2007 and is licensed for up to 15 users in the same firm and office.
AFP Light is a trial balance program designed for accountants preparing tax returns and is licensed for a single user. AFP Light does not include working papers or financial statements. It is compatible with Excel 2000 through to Excel 2007.
Support, System Requirements & Price
Since AFP is so easy to learn and use, staff training costs are negligible. The program can be put to use immediately. There are no templates to build or purchase, and no formulas or links to create.
AFP Gold is priced at $1,299. Annual renewal is $400.
AFP Standard is priced at $899. Annual renewal is $275.
AFP Light is priced at $499. Annual renewal is $100.
Your AFP license includes:
- Unlimited telephone support using our toll-free "800" number
- Updated tax line codes
- Updated client letters
- Repair of damaged files (where possible)
- Upgrades within the same version.
All orders are shipped by FedEx the same day we receive them.
We accept Amex, Mastercard, Visa, Discover and checks.
How To Order: Complete the Purchase Form, or telephone us at (800) 567-4500