Actionstep includes a fully-integrated and comprehensive accounting system. This is a core part of the Actionstep architecture and integrates fully with workflow and trust accounting. If you use Actionstep for accounting then you will have no need for a third-party accounting system. However we realize that businesses may want to start using the other features of Actionstep without requiring them to change their existing accounting system and so Actionstep can run alongside other accounting systems if necessary. For Xero users we have a direct integration that posts transactions through to Xero in real-time.
The Actionstep Accounting feature set includes (but is not limited to):
...
We support both Cash (where Income is only recognised on payment) and Accrual (Income recognised on invoice) based Income. Where Cash based accounting in used, we also support the "natural allocation" of payment on a part paid invoice (defining which portion of the invoice is paid if full payment has not been received | made).
Actionstep also has a very comprehensive ability to go from Client Quote through to Invoice while also auto creating Supplier transactions without entering the data again.
| Info | ||
|---|---|---|
| ||
Actionstep does have an integration with xero. If your firm is using xero, the transactions can be sent to xero using a one way feed. Currently we do not support integration with any other accounting software. |
Thinking about moving - your questions answered
| Table of Contents | ||
|---|---|---|
|
Do I need Accounting to use the other Actionstep Modules?
It is possible to use other Applications without Accounting. It may be that you would need to set up the Chart of Accounts for other functions to run. If you decide to move later, it will be possible to clear out the Accounting data you may have created using other Applications. Some companies do take the option of moving the Accounting some time after adopting Actionstep, this means that they can move some of the job roles into Actionstep without bringing the entire team at the start.
| Tip | ||
|---|---|---|
| ||
The Accounting History is created when a transaction goes to invoice. In order to simplify a later migration to Accounting, we would advise that you use the process to "Order" stage only. These "Orders" can be re-named as "Invoices" in your Accounting Configuration Set Up. This would give your Customers the feeling that they are receiving an invoice and you can enter the actual Accounting side into your Accounting System. |
Will it be difficult for my accounts staff to change to Actionstep?
Often in a business, the accounting staff are the most resistant to change. The good news is that Actionstep accounting is intuitive.
Our experience is that the people who do struggle with Actionstep accounting, are the same people who struggle with any accounting system. Those who are experienced accounting staff and understand systems do migrate happily to Actionstep. Often theitr workload is reduced as they may be coming from a system without integrated accounting.
When is the best time to move my Accounting to Actionstep?
The best time to start is the beginning of the financial year which in many cases is 1 April. This doesn't mean you have to wait until then to actually start using the software but it does mean that if you want to start in October you should probably go back and enter accounts from the beginning of the financial year (this can be done using a GL Journal). This ensures a clean and simple cutover from your old accounting system to your new one because all your accounts will have been finalised at end of year. You can then use the closing balances from the old system as the opening balances in ActionStep Accounting.
The date from which you enter information into the new software is called your conversion date. So if you install Actionstep Accounting in July but you record transactions dating back to 1 April, your conversion date is still 1 April.
If you are really keen to convert over to Actionstep Accounting part way through the financial year and you have chosen not to enter historical transactions dating back to the beginning of the financial year then the next best time to convert is at the beginning of a Sales Tax return period.
What do I need to "Get Going" on Actionstep Accounting?
In order to run Actionstep Accounting you will need the following:
...
| Note | ||
|---|---|---|
| ||
It is not realistic to expect that any company will have Accounting balances at "Go-live" day. This should not prevent your users adopting Actionstep at go-live, it just means that the Accounting data can be entered as your accounts person is ready (this is usually 5-10days after go-live). |
What is the End of Year process?
Actionstep calculates the company earning based on the financial year start date. This means you do not need to perform an "End of Year" process. It also means that the historical data is available to view at any time.
We do encourage the use of "Lock Out " to prevent changes once your year is finalised.
Your external accountant is able to access Actionstep to pull reports and find backing documents.
Can I use Actionstep with another accounting system?
We recommend that you use either Actionstep's built-in accounting system or an accounting system that integrates directly with Actionstep. Currently we support a direct integration with Xero only.
...
| Info |
|---|
See updated article in Actionstep Help Center: https://support.actionstep.com/hc/en-us/articles/360053850634 |