How CPA Software is used Online by Accounting Firms

Accounting and CPA firms require a professional software made to efficiently manage the finances for a multitude of businesses. These software come equipped with the latest technology to report expenses, capability for payroll and auditing tools with tax management. Let’s look into what CPA and CPA software online really is.

Accounting software is worth the investment and can really help your business grow. Small businesses can profit from spending more time on the delivery of their services rather than spending time creating financial reports and invoices. 

Let’s look into what CPA and CPA software online really is.


What is CPA?

CPA stands for cost per acquisition, which means that this software calculates the amount of money that is lost on the acquisition of each customer. It can help determine what CPA for your business should be and how much you need to spend to acquire a new client. CPA software online can help small business owners and CPA firms in the processing of paperless transactions. 


What is CPA Accounting Software?

CPA (certified professional accountant) software is a type of accounting software, designed particularly for financial firms and accountants. These software usually require a subscription that you pay for the services you acquire. It is more useful for businesses and firms with a number of employees rather than individuals working solo. CPA software online provides the clients with a number of security features that make it easier for them to share their personal information with you. They are also designed in a way that makes it easier for the whole team to view what’s going on in the accounts and collaborate more efficiently. 

Some common features that you should look for in an accounting software before deciding one for your business are:

  • Regulatory Compliance Verification

The software system should be in compliance with the federal, state and local regulations, and financial organizations like the GAAP, GASB, FASB, IFRS, and DCAA. Abiding by the regulations of these statues can help you avoid penalties. Thus you need to ensure that the system complies with all such regulations and regularly updates any changes. 

  • Financial Reporting

One of the most critical components for freelance accountants is understanding and reporting of the financial statements, in a simplified manner. CPA software should be able to provide automatic graphing and reporting, execute summary statements, executive reports, and charts and graphs that can be customized according to the need. 

  • Time Tracking and Billing

When you are working with multiple companies on their accounts, you need to be able to track the hours spent on each company and bill accordingly. This way you can efficiently track time spent on certain projects and bill the clients easily. Thus any CPA software online should have billing and time capabilities.

  •  Multi-Business Accounting

Professional accountants are handling the accounts of multiple companies at once, so the software should be able to categorize access to all the data, keeping it separated but easy to search and recall. The software should be equipped to handle large volumes of data, and not be overloaded by the number of clients. 

  • Automated Payment Reminders

CPA software online can save you the hassle of tracking customer payments with pen and paper. Software now automates all the processes, saving you both time and energy. It can easily bill clients and also keep track of their payments, from the sending of reminders to confirmation of payment. 

  • Tax Preparation

The U.S tax code changes every year and is thousands of pages. One of the main jobs for a CPA is to prepare taxes , thus any software system should be able to support tax preparation for clients. It should have features like automated calculations, updated tax tables, and electronic filing for companies on a federal, state and local level. 

List of the best CPA software online for accountants are:

  • Intuit QuickBooks

QuickBooks is a cloud-based accounting software developed by Intuit that offers separate desktop options which can be downloaded as well as purchased. The services provided by this CPA software online are best for medium sized businesses and are used by over seven million businesses.

CPA Software Online

This software is very easy to use for business owners, even those that do not have any prior accounting experience. It is a reasonably priced software that is easy to set up and offers features and tools that are helpful for small business accounting. It is very good at organizing everything and keeping your business tax-ready for the whole year long.

Some of the best features of this accounting portal are:

  • Third party integration and financial integration with apps like PayPal, Square and Shopify.
  • Easy filing of tax returns (quarterly and annually) 
  • Sales tax calculation, returns and recorded tax payments
  • Syncing with TurboTax
  • Automated tax categories for expenses and transactions 
  • Differentiation of business and personal expenses
  • Scanning and attachment of receipts and invoices
  • Tracking of mileage with smartphones’ GPS
  • Customization of reports with cash flow tracking visible on your dashboard
  • Export documents and share with accountants

Freelancers can use this software to stay organized and is helpful for people who do not have separate business accounts.

  • Wave

Wave accounting is a portal for CPAs that was found in Toronto and provides financial software and services. It is an accounting and invoicing software that also provides payroll and credit card processing services. It is a cloud-based software that is easy to use and can be used by businesses that have no prior bookkeeping experience as well. It backs up all your data for extra security helping you connect with bank accounts that can sync your expenses anytime anywhere.

CPA Software Online

Wave accounting is one of the best accounting portals that provides free accounting and invoicing services. Payroll services and credit card processing services usually have charges associated with them, so the features being provided are not all free and the free options that this portal provides are not as robust as other software. However, it is still one of the best cpa portals for new businesses. Some of its best features are:

  • Expense tracking
  • No transaction or billing limits
  • Double entry system
  • Unlimited number of users
  • Mobile app
  • Run multiple businesses in one account
  • Dashboard with easy-to-read financials
  • Organise expenses and income into tax categories
  • Profit and loss statement reports and cash flow

  • My CPA dashboard

My CPA Dashboard

My CPA Dashboard is a management software for accountants that is their lifeline in a sea of accounting paperwork and client requests. This software for accountants is an online tool designed to make accountants’ lives easier, and stress free. This software makes it easier for the CPAs, bookkeepers, accountants and tax professionals to easily communicate with clients without any hassle. The main features of this web portal are:

  • Easy to use paperless portal
  • Seamless connection with clients 
  • E-signature 
  • Easily assign tasks 
  • Secure file sharing and billing
  • Xero

Xero is an accounting portal that was found in New Zealand and has a web-based accounting system for small and growing businesses. It can be used for accountants, bookkeepers and business owners who have no prior accounting knowledge and is very easy to use. It has a cloud based software, also having android and iPhone apps. It has a very easy to read and intuitive dashboard that can be used to collaborate with multiple users at a time including team members, employees and accountants.

CPA Software Online

Xero is an accounting portal that offers features like Hubdoc which allows you to capture receipts and bills and project tracking costs etc. This cpa portal has a two-step authentication which keeps the data secure and provides different subscription plans for different needs of the business.

The best features of Xero are:

  • Manage expense claims
  • Send invoices
  • Business data protected
  • Financial institution integration including fast bank reconciliation and over 800 apps including HubSpot and Square
  • Real-time cash position
  • Collaboration with your accountant and staff


  • Sage business accounting

Sage Business accounting is a web based cloud accounting found in England that was formerly known as Sage One. It is a global brand that provides online accounting and business services. It is a portal for cpas that was made to develop estimation and provide accounting services for small businesses.

CPA Software Online

This accounting portal allows you to choose your company, size of the industry and its needs. It provides matching services that give you specific accounting solutions and is used by over six million businesses.  

It is one of the most reputable portals for CPAs that can be used by anybody without prior accounting experience and can be used by your accountant to access books without paying any additional cost.

Some of its best features include:

  • Management of business finances and cash flow
  • Receiving payments
  • Creation and sending of invoices
  • Managing payroll
  • Financial institution integration with apps like AutoEntry and Zync etc.
  • Tools for tax compliance
  • Availability on all connected devices
  • Inventory control
  • Forecast cash flow
  • Dashboard view providing easy to read financial reports and analysis
  • Shared access using real-time on any device
  • Estimating services and human resources management