In this article
Overview
What is Office Accounting Professional 2007?
Office Accounting Professional 2007 is an easy-to-use, complete accounting solution for Microsoft Office system users. It has a comprehensive set of accounting tools that help small businesses save time by making them more efficient and effective at managing everyday financial tasks. Deep integration of Office Accounting Professional 2007 with Microsoft Office Outlook 2007 with Business Contact Manager enables you to get a complete view of your business by having all your customer and financial information in one place. New features such as eBay, PayPal, and Equifax integration help you grow your business online.
Who is Office Accounting Professional 2007 for?
Office Accounting Professional 2007 is a complete accounting solution designed specifically for small businesses and the accounting professionals serving them. It provides a single place to manage the company’s business finances with the familiar look and feel of Microsoft Office system programs. Accounting professionals can manage multiple clients by using Office Accounting Professional 2007.
What are the key benefits of Office Accounting Professional 2007?
Office Accounting Professional 2007 offers the following benefits:
Get started right away
- The startup wizard gets your company set up within minutes.
- Easy to learn and use. No training is required because Office Accounting Professional 2007 shares the same familiar look and feel of Microsoft Office system programs.
- Easily import data from other programs such as Intuit QuickBooks, Microsoft Money, and Microsoft Office Excel.
Save time managing everyday tasks
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Share and reuse information, enter information only once, and reduce errors.
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Create customized estimates, invoices, and purchase orders.
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Track expenses automatically.
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Automate bank accounts and customer payments.
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Track employee time and job costs.
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Manage payroll and taxes with ADP’s integrated payroll service.
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Track and forecast inventory.
Store and organize all your information in one place
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Use Office Outlook 2007 with Business Contact Manager to share and synchronize account information. Now give your employees complete customer information to help them improve productivity, reduce errors, and better serve customers.
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Create templates for documents and customize any form to suit your needs.
See how your business is doing at a glance
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Monitor and forecast cash flow with the Cash Flow Analyzer.
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Use the company home page for important business information such as daily reminders, account balances, overdue invoices, profitability, and more — all on one screen.
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Get real-time insights into your business by using more than 60 predefined reports.
Easily share information with your accountant
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Share your books with your accountant and still continue using them for your day-to-day business.
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Share data more securely with your accountant via Microsoft Office Live.
Grow your business online
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List and sell inventory items online on eBay by using the Online Sales feature.
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Track activity in real time and download and process orders.
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Process credit card payments for online and offline transactions.
Do business with confidence
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Monitor customer and even your own credit by using integrated Equifax services.
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Use the integrated PayPal option to get paid faster.
How does Office Accounting Professional 2007 compare with other financial management software programs?
Office Accounting Professional 2007 matches and exceeds the capabilities of other financial management programs such as QuickBooks Pro 2006 and Peachtree Complete Accounting 2006, with the added advantage of the familiar look and feel and ease of use of commonly used Microsoft Office system programs.
Business owners and managers can easily save time managing everyday financial tasks such as banking, generating invoices, tracking job costs, and payroll by using renowned ADP services.
Smooth integration with Office Outlook 2007 with Business Contact Manager makes both financial and marketing customer information available to employees to help them make well-informed decisions.
The Cash Flow Analyzer and customizable reports help owners get a complete view of their business. Using the Office Live services, businesses can smoothly share information with their accounting professional.
Office Accounting Professional 2007 provides tools that help small businesses to expand by selling their inventory and services on marketplaces such as eBay and Office Live, getting paid faster through PayPal, and monitoring customer credit by using Equifax.
Why should I upgrade to Office Accounting Professional 2007?
Office Accounting Professional 2007 has a lot of new exciting features that help small businesses be even more efficient and effective, and grow their business. New features include:
- Online sales integration gives you the ability to sell inventory, track activity, and download orders at online marketplaces, such as eBay, directly from Office Accounting Professional 2007.1
- Equifax credit service can be used to order credit reports and monitor credit for your business, customers, or prospects.2
- Office Live integration helps you smoothly exchange Office Accounting Professional 2007 data with your accounting professional .3
- Accept new payment types including credit cards and PayPal4 to streamline purchasing transactions.
- Accountant Transfer Wizard helps you share data with an accounting professional and synchronize the data easily.
- Accountant Navigator provides provides a central location from which accountants can manage Office Accounting Professional 2007 data for multiple clients independently.
- Improved customization helps you create forms and templates to suit your needs.
- Enhanced security roles provide flexibility and control over employee access to sensitive business information.
- Multicurrency feature helps you do business across the globe.
- Improved integration with Office Outlook 2007 with Business Contact Manager provides employees with complete updated information, and eliminates the need to reenter data.
How is Office Accounting Professional 2007 different from Microsoft Dynamics software?
Office Accounting Professional 2007 is different from Microsoft Dynamics software because it is an out-of-the-box software program specifically designed to meet the needs of small businesses with fewer than 25 employees. It provides scalability as the company grows from basic accounting tasks to comprehensive business management, and integrates smoothly with familiar Microsoft Office system programs. It can be deployed as a single user desktop system and can scale to support multiple users.
Microsoft provides a smooth migration option for businesses needing to upgrade to Microsoft Dynamics software when the company’s needs become more complex and sophisticated.
How can Office Accounting Professional 2007 benefit various employees in a small business?
Office Accounting Professional 2007 is a complete accounting solution designed specifically to address the needs of small businesses and accounting professionals. Office managers, small business owners, and sales and marketing employees can use this program to increase their productivity.
Because of its integration with 2007 Microsoft Office system programs such as Microsoft Office Word and Excel, employees reduce errors and save time by entering data only once. Keeping track of expenses, job costs, and billable time becomes much simpler and more accurate.
Office Outlook 2007 with Business Contact Manager integration provides sales and marketing employees with access to complete financial and marketing information, making them more effective in building stronger customer connections.
Small business owners can get a bird’s-eye view of their business by using the various reports and the Cash Flow Analyzer. This enables them to reach out to millions of customers by selling their products and services at online marketplaces such as eBay and get paid faster by using PayPal. Business owners and managers can assess risks by obtaining Equifax credit reports on customers, and even keep track of their own credit history.
Why should accounting professionals use Office Accounting Professional 2007?
Office Accounting Professional 2007 has special features to enable accounting professionals to be more productive.
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Accountant Transfer Wizard — Clients can now send their books to their accountants and still continue to use Office Accounting Professional 2007 for their daily business. Accounting professionals can work on the books and send them back, and the changes get synchronized easily. Alternatively accounting professionals can also remotely connect to their client’s copy of Office Accounting Professional 2007 and update their books.
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Accountant Navigator — From this central location, accountants can independently manage client accounts and payroll, import and export client data, and create journal entries for each client.
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Enhanced Cash Basis Accounting—CPAs have the flexibility to customize Cash Based Reporting settings for each client’s accounts based on the nature of their business. This helps ensure more accuracy as the transactions are captured on the basis of these settings.
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Payroll Center for accountants — Accountants can now run and manage payroll processing for multiple clients from a single dashboard.
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Office Live integration — Accounting professionals can collaborate and share financial information more securely with their clients by using the Office Live service.
Will I outgrow Office Accounting Professional 2007?
Office Accounting Professional 2007 is built to support small businesses that have 25 employees or fewer. It can be configured as a single user desktop installation by using Microsoft SQL Server Express 2005. It can also be configured for multiple users in a peer-to-peer environment or deployed on a Windows Small Business Server computer with SQL Server. Businesses that outgrow Office Accounting Professional 2007 can migrate to Microsoft Dynamics.
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Features and add-on services
What are some of the new accounting features in Office Accounting Professional 2007?
- Online sales integration gives you the ability to sell inventory, track activity, and download orders in online marketplaces such as eBay directly from Office Accounting Professional 2007.
- Equifax credit service enables you to monitor credit for your business, customers, or prospects.
- PayPal integration enables you to get paid faster by offering the PayPal payment option to customers.
- Microsoft Office Live integration enables businesses to more securely exchange financial information with accounting professionals and other contacts.
- Accountant Transfer Wizard helps you share data with an accounting professional and synchronizes data easily after the accountant is done updating the books.
- Accountant View page provides a central location from which accountants can manage Office Accounting Professional 2007 data for multiple clients independently.
- Data import enables users to import accounting and financial data from additional programs and versions, including Microsoft Money, Excel, and QuickBooks.
- Account and Customer Integration Wizard enables synchronized data sharing so that you can make updates to a customer’s record in one program and quickly see the results in the other program.
- Journal entry is now expanded so you can be more productive by creating numerous journal entries posting on different dates and with different accounts.
- Forms customization has been improved so you can tailor any form by adding, moving, creating, or renaming fields, and hiding unnecessary data element fields.
- Customizable security roles have been improved and now you can add and remove employee permissions to control access to sensitive financial information.
- Multicurrency support facilitates transactions in foreign currencies with customers and vendors as Office Accounting Professional 2007 handles the complexity of currency conversion and reconciliation easily.
Can Office Accounting Professional 2007 import data from other accounting software?
You can easily use existing financial information and not be concerned about starting from scratch or losing valuable data. Office Accounting Professional 2007 is designed to import data from other software including QuickBooks, Excel, and Microsoft Money.
Using the Convert from QuickBooks Wizard, QuickBooks users can easily import their data including master records such as charts of accounts, customers, vendors, items, employees, and supporting tables, as well as beginning balances and transactions. In addition, if you use Microsoft Office Small Business Accounting 2006, it is very easy to upgrade to Office Accounting Professional 2007.
Can I process credit card payments by using Office Accounting Professional 2007?
Using the Office Accounting Professional 2007 credit card processing option, you can accept major credit and debit card payments to better serve your customers and reduce transaction costs. For credit card purchases, you can even print receipts and create customer credit memo templates for future transactions.
Is payroll included in the Office Accounting Professional 2007 program?
Yes. Office Accounting Professional 2007 is designed to work with payroll services provided by industry leader ADP to help you manage your payroll process more efficiently. Based on your business needs, you can choose among the various ADP payroll services options and begin subscribing at one of the most competitive prices in the industry.
What are the various add-on services available with Office Accounting Professional 2007?
The following add-on services can be used within Office Accounting Professional 2007 to help small businesses be more productive and efficient.
- ADP payroll servicesto help streamline the payroll process
- Equifax credit reporting services to monitor customer and business credit
- Office Live services to help you share financial data with others and to sell online from your Web site
- EBay integration to help you grow your business online
- PayPal integration to help you get paid faster
- Buy checks and forms option to easily order custom business forms
- Online banking to help you save time
- Credit card processing to better serve your customers
Can I use other payroll services besides ADP while working with Office Accounting Professional 2007?
For businesses that have very simple payroll needs, Office Accounting Professional 2007 comes with a simple, integrated Excel-based payroll system. Businesses using other payroll systems will have to enter the journal entries after the payroll run to update accounts in Office Accounting Professional 2007.
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Pricing and licensing
How much does Office Accounting Professional 2007 cost?
Visit the Pricing page for pricing information.
Will Office Accounting Professional 2007 be included in the 2007 Microsoft Office release?
No. Office Accounting Professional 2007 will be available as a stand-alone program and will not be a part of the Microsoft Office system.
Where can I find more information about Office Accounting Professional 2007?
Visit the Office Accounting Professional 2007 home page for detailed product information.
Is Office Accounting Professional 2007 available outside the U.S.?
No. Office Accounting Professional 2007 is currently for U.S. businesses only. Future versions will support additional small business markets.
How many simultaneous users does Office Accounting Professional 2007 support?
Office Accounting Professional 2007 can support approximately 10 users. The actual number is dependent on the hardware capacity of the server running the system.
Does my accountant also need to buy a copy of Office Accounting Professional 2007?
Yes. Accounting professionals can join our Microsoft Professional Accountants’ Network (MPAN) and get a free copy of Office Accounting Professional 2007.
Is Office Accounting Professional 2007 easy to install?
Office Accounting Professional 2007 is so easy to install, you don’t need any IT staff. The startup wizard gets your company set up, connected, and working right away so you can be writing your first invoice within minutes. The familiar and intuitive interface makes Office Accounting Professional 2007 easy to learn and use right out of the box.
Can I run multiple companies from the same copy of Office Accounting Professional 2007?
Yes. You can set up and run multiple companies from the same copy but all users need to have separate licenses. There is no limit on the number of companies you can run.
Can I install Office Accounting Professional 2007 on multiple computers by using the same license?
You can install one copy of Office Accounting Professional 2007 on your main computer and another on your laptop computer for your exclusive but nonconcurrent use. To install a version of Office Accounting Professional 2007 on more than two computers, you must obtain another license for the program. On the same computer, you can install or reinstall as many times as you like.
What if I install a copy of Office Accounting Professional 2007 on my network server? Do I need an additional license?
You need to have a license for each installation of Office Accounting Professional 2007 whether it is on a server or a desktop.
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Integration and compatibility
What are the system requirements for Office Accounting Professional 2007?
Go to the system requirements page for more information.
How do I get updates for Office Accounting Professional 2007?
You can get updates for Office Accounting Professional 2007 by going to the Office Online downloads page.
How does Office Accounting Professional 2007 work with other 2007 Microsoft Office system programs?
Office Accounting Professional 2007 has been designed to work smoothly with other Microsoft Office system programs. Its integration with Word enables you to customize any documents like quotes and invoices by using existing or new templates. You can then use e-mail to send these invoices to your customers by using Office Outlook 2007. The integration with Office Outlook 2007 with Business Contact Manager helps ensure that all financial and marketing information is available centrally, and changes made in any one program automatically show up in the other. Furthermore, Outlook users can view financial information from within Outlook, use Outlook to create invoices, quotes, and sales orders, submit timesheets from Outlook, and track time in the Outlook calendar. Reports for business insight can be created in Office Accounting Professional 2007 and then exported to Excel, with its rich formatting, for deeper analysis and calculations. The analysis pack included with Office Accounting Professional 2007 enables viewing financial data in Excel, PivotTable reports, and Microsoft Office Access reports.
Does Office Accounting Professional 2007 work with earlier releases of Microsoft Office?
Yes, Office Accounting Professional 2007 works with Microsoft Office XP and Microsoft Office 2003. However, some features may not be supported by older releases.
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Support and resources
How do I get support and resources?
Microsoft does not provide technical or other support for this trial software. You’re welcome to participate in an Office Accounting Professional 2007 newsgroup to share your trial experiences with others and ask for advice. Visit the Office Accounting Professional 2007 home page for detailed product information.
1 Requires purchase of an additional third-party service.
2Subscription and additional fees may apply.
3Subscription and additional fees may apply for Microsoft Office Live.
4Requires purchase of an additional third-party service.
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