Drake Accounting

Comprehensive accounting, payroll, and bookkeeping software for small businesses and professional accountants.

by Drake Tax · Financial Close & Accounting

Drake Accounting screenshot

Executive Summary

Drake Accounting is a comprehensive accounting software designed for small businesses and professional accountants. It offers a suite of modules including payroll, general accounting, vendor payments (accounts payable), and accounts receivable. Users can efficiently manage customer invoices, track shipments, record payments, and monitor outstanding balances. The software also streamlines compliance by facilitating the generation of essential tax forms like 1099-MISC and 1099-NEC based on recorded vendor payments. Beyond core accounting, Drake Accounting supports critical financial operations such as bank reconciliation and detailed journal entry management. It can be bundled with Drake Tax for a unified tax and accounting solution and integrates with Drake Documents for electronic storage, promoting a paperless workflow. A full-featured trial version is available, allowing prospective users to explore its capabilities before committing.

Use Cases

  • Managing payroll, including direct deposits, for employees.
  • Tracking accounts payable, processing vendor payments, and generating 1099 forms.
  • Recording and tracking customer invoices, payments, and balances through Accounts Receivable.
  • Performing general bookkeeping tasks and generating comprehensive financial statements.
  • Reconciling bank accounts and managing journal entries for accurate financial records.

Features

Visibility

  • Accounts Receivable Tracking: Record and track customer invoices, shipments, payments, and balances.
  • Accounts Payable Management: Manage vendor payments and accounts payable efficiently.
  • Bank Reconciliation: Tools to reconcile bank accounts and manage journal transactions for accuracy.
  • Payroll Module: Comprehensive module for managing payroll, including direct deposits.

Technical Specifications

Deployment
Cloud + On-Premise

Integrations

  • Drake Tax
  • Drake Documents

Pricing

Model
Per edition/year
Starting Price
$395/year
Target Customer
SMB,Mid-Market,Enterprise
Contract Type
Annual subscription
Free Trial
Yes

About Drake Tax

Drake Software provides comprehensive, professional tax preparation and e-file software solutions for tax preparers and accounting firms. Founded in 1977, the company offers a suite of tools including tax software, accounting solutions, and productivity tools.

Founded: 1977 · Headquarters: Franklin, Western North Carolina, United States · Employees: 501-1000 · Private

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