Goldenseal Accounting Software

Goldenseal is full-featured small business accounting software for Macintosh and Windows computers. It helps you to manage all aspects of your business.

Goldenseal is very good at cost accounting- keeping track of expenses for each project or business activity. That makes it one of the best business accounting programs for construction companies, service businesses, professionals and anyone else that needs to do time billing for labor and services, or control expenses carefully. If you give cost estimates, Goldenseal's job costing reports will show you "estimated vs actual" costs.

Goldenseal is an integrated accounting system. You only need to enter transactions once-- Goldenseal then uses them for many different things. For example, when you enter a materials purchase, it automatically posts to accounts payable, job costs and time and materials billing. It also increases your inventory, and updates your estimating unit costs and assemblies.

The Goldenseal accounting package costs $695 single-user, $995 for two users, $1295 for five users, and $1795 for up to 10 users.

Basic Accounting Software

Goldenseal handles all your accounting needs-- it keeps your books, balances your checkbook, prints checks, and handles accounts payable, accounts receivable and payroll.

Goldenseal uses "real world" accounts and business transactions, so it is easy to learn and easy to use.

Cost Accounting Software

Goldenseal is job costing software that gives you fast and accurate job costs for each project or business activity (also known as activity based costing).

Goldenseal was written from the ground up to handle job costs-- it is one of the best accounting programs for job costing details like payroll burden, overhead, time billing rates and multiple cost category systems.

The Goldenseal job cost software lets you assign costs to each project and overhead account, to cost categories and subcategories, and also to different locations within a project. You can track direct expenses, overhead, and expenses for equipment maintenance, investments and real estate. Goldenseal is particularly good at construction accounting-- it includes many features that are specific to that industry.

The Goldenseal job costing program compares estimated costs against actual expenses, so you get instant feedback on the accuracy of your estimates. To see a quick "snapshot" of current job costs, choose Job Costs from the Costs menu. You can double-click on any project to see a detailed breakdown of costs.

For more about job costs, click here.

Expense Tracking Software

The Goldenseal accounting software makes it easy to keep track of expenses. It is designed specifically for tracking six types of expenses:

  • Equipment hours
  • Labor hours
  • Inventory used
  • Material purchases
  • Subcontractor costs
  • Other costs

You can allocate each expense to a project or overhead account, and also assign it to a cost category, subcategory and location.

Goldenseal also tracks expenses separately for allowances, bids, change orders, purchase orders and work orders. It will warn you if you are overpaying for those items.

For more about the Goldenseal expense accounting software, click here.

Accounts Payable Software (Paying Bills)

After you've entered expenses, choose Pay Bills from the Bank menu. It shows you a "quick report" of your accounts payable, and the amount that you owe to each supplier. 

Put a check mark next to each vendor you want to pay now, and click the Create Checks button- Goldenseal will automatically enter payments and print checks for them.

The Goldenseal business program also shows you a report of payables aging, and tracks the amount that you owe for sales tax and payroll taxes.

For more about the Pay Bills command, click here.

Accounts Receivable Software (Customer Billing)

The Goldenseal accounts receivable software tracks unpaid sales, and creates customer invoices for sales and services. It also handles project billing, and tenant billing for rental properties.

Goldenseal prints billing statements and tracks payment status for each bill.

Goldenseal works extremely well for project billing-- it easily handles draw schedules, progress payments, time-and-materials work, allowances and change orders. The Goldenseal project billing software automatically deducts "holdback" or "retainage" amounts if they are in the payment terms.

For more about the billing commands, click here.

Check Writing Software

Goldenseal is check writing software which prints checks whenever you need them. Goldenseal keeps track of any number of bank accounts, and lets you use multiple checkbooks within any account.

When you make a purchase and pay for it immediately, Goldenseal automatically creates an "instant purchase" bank check or bank payment when you enter the expense.

You can create most other payments automatically with the Pay Bills and Write Payroll commands, and make your deposits automatically with the Deposit Funds command.

Goldenseal reconciles your accounts against bank statements, and gives you reports for cash flow and income tax expenses.

For more about checkbooks, click here.

Payroll Software

Goldenseal is payroll software that automatically creates wage payments from your labor hours records. It deducts all state and federal withholding and employer taxes, and computes benefits and vacation time. It prints paychecks with withholding info on the stub.

Goldenseal handles the many complications of US and Canadian payroll, including multiple wage rates, multiple tax packages, and worker's comp rates that are based on the type of work done by the employee.

For more about payroll, click here.

Inventory Management Software

Goldenseal is inventory management software that keeps track of the items that you buy and sell. It adjusts inventory quantities automatically when you enter your usual business transactions.

The Goldenseal inventory tracking software also handles inventory items that are used in projects, which makes it very useful for construction and service businesses. It adjust inventory amounts, and includes them in job costs and time and materials billing.

Goldenseal lets you set up separate inventory accounts, if you need more detailed inventory accounting. You can also manufacture items from components, and make inventory control adjustments for "shrinkage" and other losses.

For more about Goldenseal inventory management, click here.

Chart of Accounts

The Goldenseal computerized accounting software includes a graphic "chart of accounts" window that shows all of your jobs, assets, liabilities and cost accounts in one place.

You can double-click on any account to see information about it. You can also drag the mouse from one account to another to enter expense and income transactions. For example, to enter an expense for a particular project, click on a supplier or subcontractor account, and drag to the job account.

If you are currently using Quickbooks, you can import your account setup automatically with Goldenseal's import command.

Real World Accounts

Unlike most other business accounting programs, the Goldenseal small business program uses "real world" accounts for each person or company with whom you do business.
HINT-- You don't need to create accounts for "accounting" items such as job costs or accounts payable. Goldenseal handles those things automatically.

Goldenseal includes the following types of accounts:

Job Accounts-- sources of income (directly or indirectly)

Asset Accounts-- items of value that you own

Liabilities-- money that you owe to others

Cost Accounts-- who you pay money to for expenses

Printed Forms

The Goldenseal small business software includes many printed business forms, including all of the following:

  • Billing statements
  • Change Orders
  • Envelopes
  • Estimates
  • Mailing Labels
  • Paychecks
  • Preprinted checks
  • Sales receipts
  • 1099 and W-2 forms

You can use the Custom Layouts command to add new forms, or change anything about the existing ones.

You can even paste in your business logo, and Goldenseal will add it to all printed forms, automatically.

Financial Reports

The Goldenseal small business accounting software includes a wide range of financial reports, including balance sheet, income statement, expense reports, estimates and job costs.

Goldenseal includes a Custom Layouts command that lets you customize the contents and appearance of any report. It's a simple drawing environment where you can add fields, change the graphics, and set the way fields operate.

You can also create custom reports if there isn't one that exactly meets your needs.

For more about reports, click here.

Other Accounting Links

For more about accounting in the Getting Started manual, click here.
For more about accounting in the Reference manual, click here.
For more about accounting in Special Topics, click here.
For Goldenseal accounting software Tech Answers, click here.