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NetSuite Accounting vs Patriot Accounting

Last Updated: November 18th, 2024

Our analysts compared NetSuite Accounting vs Patriot Accounting based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.

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Product Basics

Netsuite Accounting assists financial leaders in designing and modifying operations by pairing bookkeeping with robust compliance management to increase business performance and close proficiency. Immediate access to information offers users full visibility to study all the nooks and crannies and expeditiously fix issues. This visibility enables users to draft thorough statements and disclosures that conform to ASC 606, GAAP, SOX and other compliance requirements.

Its key accessories include tax management, general ledger, accounts receivable and payable and cash management.

Patriot Accounting is a cloud-based accounting software designed for small businesses and their accountants. It offers a user-friendly interface and comprehensive features for managing finances, including income and expense tracking, invoicing, bill pay, bank reconciliation, and financial reporting. Patriot caters to businesses with basic to moderate accounting needs, making it suitable for freelancers, solopreneurs, and small business owners who lack accounting expertise. Its key strengths lie in its affordability, ease of use, and customer support. Users praise its intuitive interface, clear navigation, and helpful tutorials, making it easy to learn and navigate even for accounting novices. Additionally, Patriot boasts excellent customer support, readily available to assist users with any questions or concerns. Popular features include customizable invoices, automatic bank feeds, inventory management, and payroll integration (with an additional fee). Compared to similar products, Patriot stands out for its emphasis on user-friendliness, affordability, and exceptional customer service. While it may lack some advanced features found in competitor software, its core functionalities and ease of use make it a compelling choice for many small businesses. Pricing starts at $20 per month for the basic plan, offering essential accounting features. The premium plan, at $30 per month, adds unlimited users, advanced features, and payroll integration. Both plans come with a free 30-day trial, allowing users to test the software before committing.

Pros

Easy to use and navigate
Affordable pricing
Excellent customer support
Automatic bank feeds
Inventory management (paid add-on)

Cons

Limited features compared to competitors
No mobile app
Payroll integration requires additional fee
Not ideal for complex accounting needs
Limited customization options

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Product Insights

Find and Finish Products: Check recent activity to find the latest tasks users were working on.
Log Important Information: Log and store crucial information from calls, emails, sales quotes and other forms of communication.
Execute Financial Consolidations: Consolidate financials from numerous geographical regions and execute account roll-ups in real time.
Smooth Integration with Inventory: Integrate Netsuite Accounting with Netsuite's Inventory management solution to receive real-time tracking information on incoming and outgoing products as well as update balance books and other financial reports. This integration will enable users to monitor and stay in the loop of their supplies.
One-Click Approvals: Approve large quantities of sales orders in one click without approving them individually.

Streamlined accounting processes: Patriot Accounting simplifies and automates many accounting tasks, such as invoicing, bill payment, bank reconciliation, and financial reporting. This saves time, reduces errors, and helps you stay on top of your finances effortlessly.
Improved financial visibility: The software provides real-time insights into your business's financial health through clear dashboards and reports. This allows you to track income and expenses, monitor cash flow, analyze profitability, and make informed financial decisions.
Enhanced organization and control: Patriot Accounting helps you organize your financial data, maintain accurate records, and easily access information whenever needed. This promotes better financial management and compliance with tax regulations.
Simplified tax preparation: The software generates tax-ready reports that streamline the tax filing process, saving you time and effort. It also integrates with popular tax software, further simplifying tax preparation.
Accessibility and collaboration: Patriot Accounting's cloud-based platform allows you to access your financial data from anywhere with an internet connection. It also enables collaboration with your accountant or bookkeeper, promoting efficient financial management and timely financial advice.
Enhanced decision-making: The financial insights and reports provided by Patriot Accounting empower you to make data-driven decisions about your business's finances. This can lead to improved profitability, cost savings, and overall financial growth.
Peace of mind and confidence: Knowing that your accounting is organized and accurate can reduce stress and provide peace of mind. You can focus on running your business, confident that your financial data is secure and accessible.
Scalability for growth: Patriot Accounting can grow with your business, accommodating increased transactions and complexity as your business expands. This ensures you have the support you need to manage your finances effectively, even as your operations grow.

Manageable Ledger: Add custom impact lines to transactions like invoices and vendor bills throughout single or numerous bookkeeping journals, reducing time in bank reconciliation, period closes and audit processes.
Arrange Accounts Receivable: Perform accurate tax calculations on invoices and promptly post order transactions to general and accounts receivable ledgers for immediate tax processing and billing.
Spot Account Peculiarities: Adjust dashboards, reports and KPIs for current views on customer aging, invoice analyses, repeatable invoices, deferred revenues and exception reports that catch account anomalies.
Supervise Taxes: Work with the exact tax rate every time with the tax management accessory. It automatically applies the correct tax rate to purchases and is equipped with tax calculations for more than 50 countries and currencies.
Insightful Cash Management: Receive immediate understandings of global transactions throughout numerous bank accounts and credit cards. Users may also review and predict cash requirements, conduct automatic bank reconciliations, swiftly deposit payments and safely develop accounting entries.
Control Payments: Review and manage payment types to boost payment control with the payment management module. This module accepts several credit and debit card types and other forms of electronic payment.

Income and expense tracking: Record and categorize income and expenses to monitor cash flow and profitability.
Invoicing: Create and send professional invoices, track payments, and send reminders to customers.
Bill pay: Pay bills and track expenses easily, ensuring timely payments and organized records.
Bank reconciliation: Match bank transactions with your records to ensure accuracy and prevent discrepancies.
Financial reporting: Generate various reports, including profit and loss statements, balance sheets, cash flow statements, and tax reports.
Customizable chart of accounts: Create a chart of accounts that aligns with your business's unique needs and structure.
Automatic bank feeds: Import bank transactions automatically, saving time and reducing manual data entry.
Inventory management (paid add-on): Track inventory levels, manage stock, and generate purchase orders (available for an additional fee).
Payroll integration (paid add-on): Integrate with Patriot's payroll software to streamline payroll processing and tax filings (available for an additional fee).
User-friendly interface: Navigate the software easily with intuitive menus, clear labels, and helpful tutorials.
Excellent customer support: Access free US-based customer support via phone, email, and live chat.
Cloud-based platform: Access your data from anywhere with an internet connection, ensuring flexibility and security.
Mobile-friendly access: View your account and manage basic tasks from a mobile device.
Secure data storage: Rest assured that your financial data is protected with bank-level security measures.
Free 30-day trial: Try the software for free before committing to a subscription.

Product Ranking

#5

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#369

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Analyst Rating Summary

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User Sentiment Summary

78%

of users recommend this product

NetSuite Accounting has a 'good' User Satisfaction Rating of 78% when considering 2235 user reviews from 4 recognized software review sites.

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Synopsis of User Ratings and Reviews

Overall Performance: Of the users who discussed the performance of this solution, 58% said it was outstanding because it has automatic updates, simplifies accounting tasks and provides accurate data.

Customizable: Precisely 68% of users who addressed this program's customization said it is easy to configure to their business needs.

Accessories: Of the users who mentioned this application's accessories, 52% said they are effective, praising specifically the customizable dashboard, search engine that saves searches and customizable accounting reports.

User-friendly interface: Patriot Accounting is known for its intuitive and easy-to-navigate interface, making it suitable for users with varying levels of accounting experience.

Affordable pricing: Patriot Accounting offers competitive pricing plans, making it an attractive option for small businesses and freelancers on a budget.

Strong customer support: Patriot Accounting provides responsive and helpful customer support through multiple channels, including phone, email, and live chat.

Basic accounting features: Patriot Accounting covers essential accounting tasks like invoicing, bill pay, bank reconciliation, and financial reporting.

Integration with popular payment processors: Patriot Accounting integrates with popular payment processors like Stripe and PayPal, streamlining payment collection.

Mobile app availability: Patriot Accounting offers a mobile app for managing finances on the go.

System Performance: Approximately 41% of the users who mentioned this program's overall performance said it was slow and experienced crashes.

Functionality: Of the users who discussed this solution's functionality, roughly 47% said it was lacking features including budget forecasting, fixed assets and support for .xlsx and .xls files.

Limited inventory management: Lacks advanced features like barcode scanning, serial number tracking, and purchase order management, making it unsuitable for businesses with complex inventory needs.

No multi-currency support: Only supports transactions in a single currency, which can be limiting for businesses operating internationally.

Limited reporting capabilities: May not provide the level of customization and detail needed by some businesses, especially those with complex reporting requirements.

Scalability limitations: May not be suitable for large businesses with a high volume of transactions or complex accounting needs, as its features and capabilities may not scale effectively.

Integration limitations: Integrates with a limited number of third-party applications, which may restrict users who rely on specific software or require extensive integrations with other business systems.

Netsuite Accounting is a thorough accounting ERP that superintends all bookkeeping tasks. Users are most fond of its performance with automatic updates, potent workflows and precise data collection as well as its string of features-including, tax management, general ledger, accounts payable and receivable, CRM, multicurrency and more-to boost productivity. It's also adjustable, so users may tailor it to meet their company needs. Although some users were disappointed with the system's sluggishness, occasional crashes and lack of budget estimating, fixed assets and support for .xlsx and .xls files, the majority find it an adequate bookkeeping software.

Patriot Accounting carves a niche among accounting software with its user-friendly interface, affordable pricing, and strong customer support. Users with basic accounting needs, like freelancers and small businesses, praise its intuitive design and straightforward features for invoicing, bill pay, and bank reconciliation. The mobile app and integrations with popular payment processors like Stripe further enhance its convenience. However, Patriot Accounting's limitations become apparent as businesses grow or require more complex functionalities. Users often cite its lack of advanced inventory management, multi-currency support, and in-depth reporting as dealbreakers. Compared to competitors like QuickBooks, which offers a wider range of features and integrations, Patriot Accounting might feel restrictive. Businesses with international operations or intricate inventory systems may find themselves needing to upgrade to a more robust solution. Ultimately, Patriot Accounting's suitability hinges on a user's specific needs and priorities. For those seeking a beginner-friendly and budget-conscious accounting solution, it stands out with its ease of use and affordability. However, businesses with more intricate accounting requirements or aspirations for future growth might find themselves needing a software that can scale alongside their ambitions.

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FAQ

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