In our third annual installment of recognizing the best new accounting-related products, we found overall that there are more categories and products to recognize than ever - many of which, not surprisingly, have a cloud or mobile theme to them.

As in previous editions, we're recognizing not just brand-new products from the past year, but also older products that have seen significant improvements in the same time period. And, again as in the past, despite the abundance of entries, there are still areas that were notably excluded from the list - not for lack of innovation, but because the products within the categories themselves were relatively on par with one another.

For example, it is apparent that most products in which documents and data are stored, shared or exchanged with clients or within the firm are likely to have a portal component to them. Several new offerings of note would include the Doc. It Client Portal, Office Tools Pro Client Portal and Client Portal Lite, SecureFilePro from Drake Software, UBCC Payroll Portal, and the XCM Portal.

We are particularly proud of this year's list, and feel it represents the direction in which tax and accounting products are moving. We hope you agree.

Accounting/ERP

NetSuite OneWorld 2011

NetSuite

NetSuite's OneWorld product is helping it compete more fiercely as midsized and large enterprises expand globally, work in multiple tax jurisdictions and often run more than one ERP system. The 2011 release boasts increased global financial consolidation capabilities, expanded support for international taxation and audit reporting, and advanced inventory costing capabilities, as well as over 40 formatted tax compliance reports.

An Honorable Mention goes to Sage North America's Sage Peachtree Quantum 2012, which adds rich business intelligence to accounting functions, as well as a tool that monitors product usage and offers suggestions for improved usage, where applicable.

AP/AR

Bill.com Receivables

Bill.com

The cloud is being used for more back office and accounting-related functions than ever before, and Bill.com has been at the center of this trend. With its Receivables product, it has added a crucial link in the invoicing and payments chain by allowing users to receive and track all payments online. They can customize invoices, make e-payments, and communicate with vendors regardless of whether or not the vendor uses Bill.com. The product also supports a full range of accounts receivable processes through an invoice creation tool and QuickBooks integration.

Honorable Mentions go to PaySimple and FreshBooks. PaySimple allows accountants and SMBs via Web or mobile device to accept and manage a variety of payment types, and bill according to client preference. FreshBooks, which is geared toward sole proprietors/practitioners and freelancers, has added useful activity notifications and weekly summaries to its SaaS invoicing product.

Auditing

Audit International

CaseWare

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