Article ID: 927518
Article Last Modified on 10/23/2007
APPLIES TO
- Microsoft Office Accounting Express 2007
INTRODUCTION
This article describes new features in Microsoft Office Accounting Express 2007.
MORE INFORMATION
New integrated services
- ==== Integrated services from eBay ====
Accounting Express 2007 lets you easily sell products to buyers on the eBay Web site. You can select products from the inventory, list items for sale on the eBay Web site, view the status of your listings, and download transactions and fees.
- ==== Integrated services from PayPal ====
Accounting Express 2007 contains two new payment services that work together with PayPal. The new payment services include the following:
- Invoice Payment Service
- Merchant Processing Service
Both services let you accept payment transactions from PayPal by using e-mail or by using direct credit card payments. Both services save you time and money. Additionally, both services provide more payment flexibility for your customers.
- ==== Integrated services from Equifax ====
You can use a set of integrated, easy-to-use commercial credit reporting services to monitor the credit worthiness of your customers, of your vendors, and of your own business in Accounting Express 2007.
New features for your business
- ==== Integration with eBay marketplaces ====
The innovative integration with eBay marketplaces lets you run a marketplace-based business directly in Accounting Express 2007. You can do the following when you use Accounting Express 2007:
- You can list items from the Accounting Express 2007-based inventory for sale in eBay marketplaces. Then, you can work with your existing process to keep your books up to date. When you do this, the value of your inventory is always current. Additionally, you have a clear idea of your inventory levels when the inventory is listed on the eBay Web site.
- You can view the current status of your listing on the eBay Web site from Accounting Express 2007.
- You can download the completed transactions and the associated fees from eBay marketplaces directly into Accounting Express 2007.
- You can complete eBay orders in Accounting Express 2007 by using your existing processes. You can post the order or the invoice to your books. Then, you can keep your accounting up to date without using double data entry or manual tracking of the eBay transactions.
- You can send integrated PayPal-enabled invoices to your customers. This feature makes it easy for your customers to pay you from the invoice. This feature may also help you obtain payments faster.
- ==== Enhanced integration with Microsoft Office Outlook 2007 with Business Contact Manager ====
This enhanced integration lets you work effectively with Outlook 2007 with Business Contact Manager. You can do the following when you use Accounting Express 2007:
- You can share and update a single list of customers across the organization.
- You can give salespeople access to Small Business Accounting reports. You can also run marketing campaigns in Outlook 2007 with Business Contact Manager.
- You can let salespeople view a customer's financial information in Outlook 2007 with Business Contact Manager.
- You can let salespeople convert an opportunity into a quote or into an invoice.
- You can let salespeople convert time that is recorded in the Outlook Calendar into a timesheet that can be used on an invoice.
- ==== Enhanced forms customization ====
You can modify the layout of most forms in Accounting Express 2007. You can add customized fields to forms, to assorted lists, and to selected reports to meet your business requirements. You can also move, rename, group, or remove fields to make entering information in transaction forms more efficient.
- ==== Data compression (archiving) ====
Accounting Express 2007 lets you compress historical data. The data compression process compresses company data. The data compression process also summarizes the transactions in a selected fiscal period into compressed journal entries. The compressed journal entries are summarized by month. The data compression process reduces the size of your company file and may improve Accounting Express 2007 performance when you run reports, open lists, or post transactions.
New features for accountants
- ==== Accountant Navigator ====
The Accountant Navigator helps accountants work efficiently with multiple client accounts on a single dashboard. Accountants can load the clients' accountant export file and then view the clients in a single list. Accountants can directly access specific reports for each client's company and make journal entries efficiently. Accounting Express 2007 can handle files that were created in earlier versions of Small Business Accounting. Additionally, accountants can also start the Payroll Center in the Accountant Navigator.
- ==== More powerful cash-basis accounting ====
Cash-basis accounting in Accounting Express 2007 is greatly enhanced, as follows:
- The cash-basis accounting functionality in Accounting Express 2007 lets you designate each account for inclusion in cash-basis reporting.
- There is a cash-basis book that records transactions. These transactions are based on the settings for financial accounts that you have selected.
- Accounting Express 2007 contains a Cash Basis Journal Entry that makes reclassifications only in the cash-basis book.
- You can let your customers know the details of the Other Cash Income account and of the Other Cash Expense account. These accounts contain transactions that affect a tax return but that are not classified by the business.
- Closing a fiscal year on a cash basis is improved and includes the Other Cash Income account and the Other Cash Expense account. Retained earnings in the cash-basis balance sheet reflect all cash-basis net income for closed years.
- A new GL Report financial report is added. This report displays all accounts by using balances. This report displays all debits and credits for the selected date range. The new report displays information in both an accrual view and in a cash-basis view.
- ==== Payroll Center for accountants ====
The Payroll Center lets accountants run and manage payroll processing for multiple clients from a single dashboard.
- ==== Accountant Transfer Wizard ====
If you are not an accountant but need to send data to an accountant, the Accountant Transfer Wizard makes it easier for you to share data with an accountant. You can use Accounting Express 2007 to export the company data file by using the Accountant Transfer Wizard. You can then transfer the company data file to an accountant for review. This feature lets you send accounts to a certified public accountant (CPA) for adjustment. At the same time, you can still use Accounting Express 2007 for your day-to-day business transactions. When the CPA finishes the adjustment, the changes are seamlessly incorporated into Accounting Express 2007.
Note When you run the wizard, you have to select a cutoff date. After you select a cutoff date, you cannot create or edit transactions that occurred before the cutoff date when your accountant keeps the company data file for review. - ==== Journal entry worksheet ====
The journal entry worksheet lets you enter multiple accounts, customers, and vendors in the same journal entry form. You can be more productive by creating many journal entries that you then post on different dates and to different accounts.
The third-party products that this article discusses are manufactured by companies that are independent of Microsoft. Microsoft makes no warranty, implied or otherwise, regarding the performance or reliability of these products.
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