Name: PayTraq
Price: 15 USD
Author: PayTraq

Customer Success Management Training

Help Desk

Web and Video Conferencing

Customer Support

Accessibility Testing

Performance Testing

Virtual Reality

Development

Online Proctoring Software

Virtual Classroom

Education

Business Intelligence (BI)

Collaboration

Contract Analysis

Emissions Management

Intellectual Property (IP) Management

Internal Communications

Payment Facilitation

Workflow

Enterprise

Accounting

CTRM

Travel Management

Finance and Accounting

Applicant Tracking

Compensation Management

Corporate Learning Management

HR Management

Payroll

Talent Intelligence

Talent Management

Workforce Analytics

Workforce Management

Human Resources

API Design

Change and Configuration Management

Cloud Storage

Custom Software Development Services

Data Deduplication

DevOps

Fraud Detection

Integration Platform as a Service (iPaaS)

Migration

Mobile Identity

Network Performance Monitoring

Privileged Access Management

Requirements Management

Sensitive Data Discovery

Software Composition Analysis (SCA)

Storage as a Service (STaaS)

Time Series Databases

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Content Management

Content Marketing

Email Marketing

Market Research

Marketing Automation

Online Reputation Management

Product Intelligence

Social Media Management

Survey & Forms Building

Web Analytics

Marketing

Project Management

Task Management

Professional Services

Customer Relationship Management (CRM)

Sales Incentive Compensation Management

Sales Training

Sales

Cloud Infrastructure Entitlement Management

Intrusion Detection

Secure Service Edge (SSE)

Security

Aviation

Church Management

Donor Management

Financial Services CRM

Fleet Management

Hospital Management

Internet of Medical Things

Veterinary

Vertical-Specific

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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.

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.

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.

Basic

SAP S/4HANA Cloud

Microsoft Dynamics 365 Business Central (formerly Dynamics NAV) is one of the ERP products in the Dynamics family. 

The technology is based on the Navision product acquired by Microsoft in 2002. This product is the best-selling Microsoft ERP platform, and is often used by companies in the manufacturing and distribution verticals.

Dynamics 365 Business Central Essentials

Dynamics 365 Business Central Premium

Dynamics 365 Business Central Team Members

Microsoft Dynamics 365 Business Central

PayTraq

Enterprise Resource Planning (ERP) Systems are business management software that allows an organization to use a system of integrated applications to manage the business. ERP systems integrate development, manufacturing, sales and marketing.

Enterprise Resource Planning (ERP)

General Ledger and Configurable Accounting

Financial management solution, including capabilities for general ledger and configurable accounting

Accounts payable

This includes the automation and tracking of payment to vendors and suppliers, with features such as payment scheduling, check printing, open purchase order alerts, document management, direct ACH bill payment, and vendor records.

Accounts receivable

This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.

Global Financial Support

Account using multiple ledgers, multiple currencies, and multiple entities

Primary and Secondary Ledgers

Record and report across multiple currencies and accounting standards with primary and secondary ledgers

Journals and Reconciliations

Automate and synchronize ledgers and processes

Configurable Accounting

Configure accounting rules and segments for each chart of accounts

Standardized Processes

Centralize financial management to facilitate standardized financial processes

Subledger and Financial Process

Revenue management solution including capabilities for subledgers and financial processes

Billing Management

Access role-based billing work area, perform discrete and recurring billing

Cash and Asset Management

Manage liquidity and cash requirements, asset transfers, disposals, reclassifications, and financial adjustments

Travel & Expense Management

Enter expenses from mobile devices, integrate credit card and travel booking, configure policy enforcement

Budgetary Control & Encumbrance Accounting

Control spending at any budget level or time interval

Period Close

Sustain fast close with integrated subledgers, intuitive dashboards, embedded collaboration

Inventory Management

The ability to track and manage the flow of goods or materials into and out of an inventory.

Inventory tracking

The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.

Automatic reordering

The software can be set up to automatically reorder a good when it falls below a certain threshold.

Location management

The software can track multiple goods across multiple locations.

Order Management

The ability to process orders, and track them from quote to cash.

Pricing

Users can set up complex and unique pricing requirements.

Order entry

Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.

Credit card processing

The software facilitates credit card processing.

Cost of goods sold

The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.

Order Orchestration

Define and execute order fulfillment processes for products as well as services on the same order.

Payroll Management

Provides for pay calculation and benefit plan administration, in addition to managing direct deposit, salary revisions and payroll tracking.

Pay calculation

Pay calculation provides for computation of employee pay with state and federal deductions.

Benefit plan administration

Benefit plan administration is administration of health insurance plans and 401k plans, and other benefits.

Direct deposit files

Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.

Reporting & Analytics

Users can report on and analyze usage, performance, ROI, and/or other metrics of success.

Dashboards

Users can create, customize and share dashboards, which provide an overview of the most important metrics.

Standard reports

The software offers pre-built reports with metrics standard to the category.

Custom reports

Customization

This addresses a company’s ability to configure the software to fit its specific use case and workflow.

API for custom integration

An API (application programming interface) provides a standard programming interface for connecting third-party systems to the software for data creation, access, updating and/or deletion.

Plug-ins

A number of third-party plug-ins are available to expand the core functionality of the software.

This component helps a company minimize the security risks by controlling access to the software and its data, and encouraging best practices among users.

Role-based user permissions

Permissions to perform actions or access or modify data are assigned to roles, which are then assigned to users, reducing complexity of administration.

Single sign-on capability

The software system supports a centralized authentication mechanism allowing the user to access multiple systems with a single, centrally managed password.

Multi-factor authentication

User-level audit trail

Grants Management

Grants management solution for higher education, public sector, or non-profits with capabilities for managing financial awards for program and project funding

Award Lifecycle Management

Manage the life of program funding awards from initial funding to close-out

Project Financial Management

Project financial management solution including capabilities for project budgeting, cost control, billing and contract management.

Budgeting and Forecasting

Establish project budgets and forecast future project financials

Project Costing

Standardize, track, and control costs at all project phases

PayTraq

Overview

What is PayTraq?