AccountantsWorld has renamed its cloud-based accounting system Accounting Relief as Accounting Power.

The name change is intended to reflect some of the most important benefits that the product aims to provide, giving accountants the power to help clients better manage their business finances and make their services more relevant to their clients’ needs.

“The primary mission of Accounting Power is to help accountants regain the prominence within client accounting that they’ve lost over the past decade,” said AccountantsWorld CEO Chandra Bhansali in a statement. “Almost all other accounting solutions providers focus on selling ‘do-it-yourself’ systems directly to small business clients and bypassing the accountant, which naturally undermines the accounting profession. The cloud-based Accounting Power has always been designed to support our Accountants First position, in which accountants and clients work in true collaboration under the accountants’ direction.”

Accounting Power includes bookkeeping, trial balance, write-up, and financial reporting in one integrated system. Once clients enter their transactions, accountants automatically have the data available to perform trial balance work and prepare customizable financial statements.

Accountants can also customize the system for each client, to limit access only to the functions that they are comfortable performing. By maintaining this level of control, accountants can minimize client errors and gain strategic insight into their clients’ complete fiscal picture. Accountants can scan their clients’ key indicators and set up alerts to signal any potential warning signs in areas such as cash flow or accounts receivable.

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