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What is new in Office Accounting 2007
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Office Accounting 2007 includes new features to help you save time, work the way you want, communicate with an accountant, sell online, and work more effectively with other Microsoft Office programs. This article will list some of the key enhancements.
New features of Office Accounting Express and Office Accounting Professional
The following features are available in both versions of Office Accounting 2007:
Microsoft Money data import
The Microsoft Money data import enables you to import accounting and financial data from Microsoft Money®.
Import from Microsoft Money
Office Accounting import accounts, customers, vendors, documents and other company detail from Microsoft Money so you can continue your business with all your data in Office Accounting.
Outlook with Business Contact Manager Integration
Office Outlook 2007 with Business Contact Manager provides a way to track customer and financial information together with Office Accounting. The new Account and Customer Integration Wizard enables true data sharing. Make updates to a customer’s record in either application and immediately see the results in the other application.
Business Contact Manager Dashboard
Online Sales
One on the exciting new features of Office Accounting 2007 is the ability to sell items on online marketplaces such as eBay. This enables small businesses to reach millions of potential buyers with a few mouse clicks.
Listing on eBay
Fast add
Office Accounting 2007 allows you to add customers or vendors during the sales or purchase process without having to fill out the customer or vendor form.
Fast Add
Form Customization
Form customization lets you modify and save the layout of most Office Accounting forms. Fully customize the data elements in a form by adding fields, moving fields, creating custom fields, and hiding unneeded fields.
Modify form layout
Improved online banking
Office Accounting 2007 has improved the way you work with your bank. Whether you import bank statements or use two-way online banking, Office Accounting 2007 gets you up and running fast.
Import bank transactions
Multi-date journal entry
Journal entry is now expanded so you can enter multiple customers and vendors in the same journal entry. Be more productive by creating numerous journal entries posting on different dates and with different accounts.
New journal entry
Cash basis journal entry
The new cash basis journal entry allows you to make corrections for tax purposes that only affect the cash basis reports.
Cash basis journal entry
Editable account register
Now you can add transactions quickly by editing the last, editable line in the account register.
Editable account register
Employee reimbursement
Now you can easily reimburse employees for out-of-pocket expenses or travel expenses using the new employee reimbursement. Office Accounting will record these and proper financial transactions against each employee and you can later report on them if desired.
Employee reimbursement
Data compression
You can achieve faster database performance by compressing historical data. Using the Compress Data feature, you can roll up past fiscal year data in a separate company database to make the active database faster than ever. Data for all years remains available if needed.
Compress data wizard
Accountant transfer
Accountant transfer helps you share data with an accounting professional while continuing to use Office Accounting. When the accounting professional is finished, the data easily synchronizes.
Accountant transfer
Accountant View
The Accountant View page provides a centralized location from which accountants can manage Office Accounting data for multiple clients independently. From the accountant view you can run reports, create journal entries, run payroll and manage the different versions of your clients’ files.
Accountant view
Share data through Microsoft Office Live
Share data through Microsoft Office Live to seamlessly exchange Office Accounting data with an accounting professional.
Sharing books
Payroll center
Payroll Center for Accountants, powered by ADP, makes processing payroll for your clients easy and cost effective. You now have the ability to view and access all of your clients from a single sign-on, print all your clients' payroll checks from one blank check stock and take advantage of all the functionality of ADP Payroll. Reduce the time it takes to perform administrative work and spend it on what's important - maintaining your client relationships and growing your business
Payroll center
Accept PayPal
Accept new payment types including credit cards and PayPal® and allow your customers to pay their invoices with a single click.
PayPal payment settings
Get credit information using Equifax
Use Equifax credit service to order credit reports and monitor credit for your business, customers, or prospects.
Equifax credit alert
Create a free web site using Office Live
Microsoft gives you the opportunity to set up a free web site with your own .com, .biz or .org domain and 5 email accounts for free. As you grow bigger you can purchase more space and more services.
Office live
New features in Office Accounting Professional
The remaining features are only available in Office Accounting Professional 2007.
Fixed asset manager
The fixed asset manager is a new add-in to Office Accounting Professional that allows you to keep track of your fixed assets while maintaining proper accounting with up to four depreciation schedules per asset.
Fixed asset
Upgrade from Office Small Business Accounting 2006
Easily upgrade company data from Office Small Business Accounting 2006 using the Upgrade Company Data Wizard.
Upgrade wizard
Customizable Roles and Permissions
Customizable roles allow you to add and remove permissions for different roles in the organization – giving you ultimate flexibility over who has access to your accounting data.
Manage roles
Integration with Microsoft Point of Sale
Combine Microsoft Point of Sale with Office Accounting 2007 to create an integrated retail solution, while enjoying the same "look and feel" in both Point of Sale and Office Accounting 2007. Easily set up data exchange between Point of Sale and Microsoft Office Accounting Professional 2007 using an intuitive wizard, either on one machine or across a network. No expensive servers are required: everything works out of the box.
Save hours of manual data entry and re-entry: Point of Sale automatically shares detailed inventory, customer, supplier, and sales data with Office Accounting 2007.
Microsoft Dynamics Point of Sale
Buy and sell in foreign currency
Office Accounting Professional 2007 introduces foreign currency handling that enables you to deal with customers, vendors and bank accounts in foreign currency while maintaining your financial accounts in US dollars. Office Accounting Professional allows you to define a currency symbol and currency code for each currency as well as maintaining historical exchange rates.
When you have set up foreign currency customers, vendors or bank and credit card accounts, you can create documents with transactions in foreign currency.
Foreign currency invoice
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