Accounting Power vs. Workday Financial Management

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Accounting Power
Score 8.3 out of 10
N/A
Accounting Power is an accounting system sold to professional accountants, that aims to enable users to control every aspect of an accounting practice and can overcome the challenges imposed by accounting systems that are sold directly to clients. in addition, Accounting Power includes capabilities for write-up and trial balance work and tools to create customizable financials, along with A/P, A/R, job costing, and inventory. Users can manage clients…N/A
Workday Financial Management
Score 8.2 out of 10
N/A
Workday Financial Management is built on a global foundation that provides organizations with the core financial management capabilities expected from a modern cloud solution. It goes well beyond just managing financial processes to achieve greater insight, improve financial consolidation and reduce time to close, instill internal control and auditability, and achieve consistency across global operations. By using an in-memory architecture and object data model,…N/A
Pricing
Accounting PowerWorkday Financial Management
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
Accounting PowerWorkday Financial Management
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details——
More Pricing Information
Features
Accounting PowerWorkday Financial Management
Customization
Comparison of Customization features of Product A and Product B
Accounting Power
4.0
1 Ratings
55% below category average
Workday Financial Management
8.1
15 Ratings
11% above category average
API for custom integration4.01 Ratings8.113 Ratings
Plug-ins00 Ratings8.014 Ratings
Security
Comparison of Security features of Product A and Product B
Accounting Power
9.5
1 Ratings
19% above category average
Workday Financial Management
8.7
19 Ratings
7% above category average
Single sign-on capability10.01 Ratings8.619 Ratings
Role-based user permissions9.01 Ratings8.717 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
Accounting Power
8.0
1 Ratings
5% above category average
Workday Financial Management
8.4
22 Ratings
19% above category average
Dashboards7.01 Ratings8.322 Ratings
Custom reports9.01 Ratings8.217 Ratings
Standard reports00 Ratings8.819 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
Accounting Power
8.5
1 Ratings
14% above category average
Workday Financial Management
8.4
18 Ratings
10% above category average
Accounts payable9.01 Ratings8.914 Ratings
Accounts receivable9.01 Ratings9.014 Ratings
Cash management8.01 Ratings00 Ratings
Bank reconciliation10.01 Ratings00 Ratings
Expense management9.01 Ratings00 Ratings
Multi-division support6.01 Ratings00 Ratings
Journals and Reconciliations8.01 Ratings8.712 Ratings
Standardized Processes9.01 Ratings8.815 Ratings
Global Financial Support00 Ratings8.315 Ratings
Primary and Secondary Ledgers00 Ratings8.615 Ratings
Configurable Accounting00 Ratings8.215 Ratings
Payroll Management
Comparison of Payroll Management features of Product A and Product B
Accounting Power
-
Ratings
Workday Financial Management
8.2
17 Ratings
13% above category average
Pay calculation00 Ratings8.317 Ratings
Benefit plan administration00 Ratings8.515 Ratings
Direct deposit files00 Ratings8.215 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
Accounting Power
-
Ratings
Workday Financial Management
8.5
8 Ratings
8% above category average
Inventory tracking00 Ratings8.98 Ratings
Automatic reordering00 Ratings8.48 Ratings
Location management00 Ratings8.37 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
Accounting Power
-
Ratings
Workday Financial Management
9.0
9 Ratings
15% above category average
Credit card processing00 Ratings9.09 Ratings
Best Alternatives
Accounting PowerWorkday Financial Management
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Score 9.1 out of 10
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Score 8.7 out of 10
Medium-sized Companies
Accounting Seed
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Score 8.3 out of 10
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Enterprises
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User Ratings
Accounting PowerWorkday Financial Management
Likelihood to Recommend
9.0
(1 ratings)
8.5
(22 ratings)
Likelihood to Renew
10.0
(1 ratings)
9.0
(1 ratings)
Usability
10.0
(1 ratings)
9.4
(5 ratings)
Support Rating
7.0
(1 ratings)
9.6
(5 ratings)
Implementation Rating
8.0
(1 ratings)
-
(0 ratings)
User Testimonials
Accounting PowerWorkday Financial Management
Likelihood to Recommend
AccountantsWorld
Retail, professional services, non-manufacturing, or non-inventory-based clients are a great fit.
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Workday
Workday is well suited for managing employees throughout their full life cycle. It excels at housing employee data from the start of their time with the company through their departure. Workday is less suited to payroll functions, which could be more robust.
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Pros
AccountantsWorld
  • Simple layout
  • Logical menu and format
  • Flexibility in designing reports
  • Department/location accounting
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Workday
  • The flexibility of going beyond handling the accounts, where we can handle cash, assets, and accounting simultaneously for the customer.
  • The single platform offers grants management where you can organize the lifecycle of the grants and synchronize it with any criteria of grant closing out scheme.
  • I personally liked Project billing with the essence of evaluating project revenue and nice reporting templates that can be shared with the customer at any stage of the project while having the flexibility of auditing the reported cost.
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Cons
AccountantsWorld
  • CPA firm's client interface for delivery of bills to pay
  • Better ACH payment options for bill payment
  • Additional layer of department/location allocation
  • Invoicing option in mobile app
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Workday
  • Some of the Workday updates last till like 10 in the morning which prevents employees to clock in and check their times and some cases their schedules
  • Workday can work on opening documents quicker instead of taking couple of minutes or notifying the user when they are ready to download
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Likelihood to Renew
AccountantsWorld
I do not see a good alternative in the market
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Workday
No answers on this topic
Usability
AccountantsWorld
It provides everything one needs for accounting services and then some at a price point that makes it very affordable.
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Workday
Workday is easy enough navigate, as long as it is properly set up. With that said, it can be put together in a modular fashion as well, allowing for a very high degree of flexibility in terms of design and process delegation. Finally, it makes consolidation achievable in times previously unthinkable.
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Support Rating
AccountantsWorld
Needs some work. Support staff seem to be computer people, not accountants or users of the system. Their answers sometimes seem short and computer-based. Not answered in a way that says, "I have thought through this and here is what I see to do."
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Workday
Our support team has been awesome. They are extremely knowledgeable and have been able to guide us through all of the challenges we have faced. Workday's community online is also extremely helpful with many trainings and help topics that can be reviewed at your convenience.
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Implementation Rating
AccountantsWorld
Seek out others who have done it and learn from them.
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Workday
No answers on this topic
Alternatives Considered
AccountantsWorld
I find Accounting Power to have more flexibility, power, and reporting capability than QuickBooks Online with a simpler interface.
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Workday
Workday Financial Management provides additional capabilities like real time financial analytics creation, easy tracking of multiple projects expense and management of all project financial data from one platform. CRM features are also impressive, billing tools and the online invoicing using Workday Financial Management and fraund detection is effective and even on distribution management this product is the master.
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Return on Investment
AccountantsWorld
  • Allowed for standardized processes
  • Improved efficiency in disbursement processing
  • Bank feed is easily broken
  • ACH payment options are not well established
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Workday
  • We were able to combine 4 different HR modules into one system.
  • We reduced data breach incidents by 95% after shifting to Workday. One of our legacy softwares had vulnerabilities.
  • The initial learning curve was higher than projected. We spent about a week to 10 days extra time deploying it, which affected the profit center that year.
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ScreenShots

Accounting Power Screenshots

Screenshot of Accounting Power HomepageScreenshot of Bill managementScreenshot of CAS DashboardScreenshot of CFO DashboardScreenshot of Pertinent Print FinancialsScreenshot of Trial balance worksheet