TrustRadius Insights
PayTraq has become an indispensable tool for small accounting companies, as it simplifies the accounting process and makes their lives …
Starting at $15 per month
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What is PayTraq?
PayTraq is an online accounting software designed to streamline business processes and improve efficiency for small and medium-sized businesses. According to the vendor, it caters to a wide range of professions and industries, including accountants, bookkeepers, business owners, financial managers, and...
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Basic
$15
Cloud
per month
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
Product Details
- About
- Tech Details
What is PayTraq?
PayTraq is an online accounting software designed to streamline business processes and improve efficiency for small and medium-sized businesses. According to the vendor, it caters to a wide range of professions and industries, including accountants, bookkeepers, business owners, financial managers, and retailers.
Key Features
Sales: According to the vendor, PayTraq offers professionally looking and customizable Quotes, Sales Orders, Invoices, and Credit Notes. It provides full-featured sales management tools with integrated online accounting and inventory management. The software also supports multi-currency transactions and offers a recurring invoicing feature for service organizations.
Purchasing: PayTraq allows users to track all invoices and business expenses quickly and easily. According to the vendor, it offers an ERP level supply chain management feature and is fully integrated with accounting and inventory management. The software also provides out-of-the-box support for purchase orders.
Warehousing: PayTraq offers a full-featured powerful online inventory management system. According to the vendor, it tightly integrates with Sales and Purchasing functionalities. The software enables users to manage unlimited products and supports multiple locations, product lots, and AVG and FIFO costing methods. Users also have the choice of a periodic or perpetual system of inventory.
Money: PayTraq allows users to manage all financial transactions in one place. According to the vendor, it provides features to easily monitor and control cash flow, track income and expenses, pay bills, receive invoice payments, reconcile bank accounts, and view account statements. The software also supports various types of accounts, including bank, merchant, card, and cash accounts.
Accounting: PayTraq offers a complete double-entry online accounting software solution. According to the vendor, it provides real-time control of accounting operations and hassle-free management of accounts. The software also offers features for financial loans and payroll management.
Reporting: PayTraq provides real-time financial and tax reports. According to the vendor, it offers instant insight into the health of the business and allows users to keep track of sales, purchases, inventory, money, and accounting operations.
PayTraq Features
- Supported: CRM
- Supported: Enterprise Asset Management
- Supported: Financial Management
- Supported: Inventory Management
- Supported: Order Management
- Supported: Project Management
- Supported: Purchase Order Management
- Supported: Reporting/Analytics
- Supported: Supply Chain Management
PayTraq Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Web-Based |
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Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
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PayTraq has become an indispensable tool for small accounting companies, as it simplifies the accounting process and makes their lives easier. Users appreciate that this cloud-based software allows them to collaborate with clients seamlessly from any location, using just a web browser. The transparency and clarity provided by PayTraq in tracking and understanding business transactions have been highly valued by users. In addition, the software's versatility and user-friendly interface have made it popular among online businesses and companies looking for an all-in-one solution. PayTraq's functionality extends beyond accounting, with features such as order and sales management, multi-currency billing, invoicing, inventory management, and purchasing. This wide array of functions combined with its affordability has made PayTraq a go-to choice for businesses seeking efficient management of their financial operations at a reasonable price. Whether users need to access the software from the office or on the go, the cloud-based nature of PayTraq ensures convenience and increased productivity. Overall, PayTraq's ability to handle various aspects of financial management seamlessly has earned praise from users and positioned it as a valuable asset for businesses of all sizes.
Efficient and Responsive Customer Support: Reviewers have consistently praised PayTraq for its friendly and efficient customer support. Users have reported receiving prompt assistance through phone and email channels, enhancing their overall experience with the software.
User-Friendly Interface: Many users have found PayTraq to be user-friendly, with a short learning curve for basic functions. The intuitive interface allows users to quickly become proficient in navigating the software, saving time in their everyday routine.
Scalability and Flexibility: PayTraq offers three pricing levels, catering to different company sizes. This flexibility allows businesses to choose a plan that aligns with their needs and promptly switch to the next level as they grow. Additionally, the cloud-based nature of PayTraq enables users to access it from anywhere with an internet connection, providing convenience and flexibility for those on the go.
Less robust accounting features: Some users have expressed that PayTraq is lacking in terms of its accounting capabilities when compared to programs like QuickBooks Online. They feel that certain functionalities and options are missing, which may limit their ability to effectively manage their finances.
Missing additional features: Several users have mentioned that they miss certain additional features in PayTraq. For example, the ability to export/import warehouse items and integration with eCommerce platforms like Opencart. The absence of these features can be a drawback for businesses looking for a more comprehensive solution.
Lack of intuitiveness and user-friendliness: A number of reviewers have noted that not everything in PayTraq is as intuitive as they would prefer. They find certain aspects of the software to be less user-friendly and not as easy to navigate or understand. This lack of intuitiveness can lead to frustration and potentially impact productivity for some users.