GMS Accounting Review - why 5 stars?

Shlomi Lavi / updated: Mar 04, 2022

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What is GMS Accounting?

GMS Accounting software is basically a financial management system designed specifically for non-profit and public organizations. The software was launched by Grants Management Systems and aims at regulating the financial aspects of your business.

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Who is it best for?

GMS accounting software is suitable for all business sizes. It is equipped to fulfill the requirements of small businesses as well as large enterprises. The industries that mainly deploy this system include accounting, financial services, government, and non-profit organizations.

GMS automates all the important cost allocation issues such as administrative costs and leave costs. It offers you multiple ways to deal with all major OBM circulars. It also offers the options of different types of budgeting schemes and cash reports.

The clients of GMS accounting come from different industries and include Community Action Program Committee, Inc., Children’s Aid Society, and Ohio Mid-Eastern Government Association etc.

Main features and functionalities

GMS Accounting offers a wide of features to regulate all the financial aspects of business. The core accounting features of the software include accounts payable, accounts receivable, depreciation and general ledger. Additionally, it also offers automatic billing and invoicing services.

Important reporting features of GMS Accounting include balance sheet, budgeting & forecasting, and depreciation scheduling. Facility of fixed asset tracking is also included in the complete package.

The software also offers various workflow features such as automated journal entries, bank reconciliation and batch posting. The system is accompanied with round the clock customer support through multiple channels.

For advanced business needs, GMS also offers various add-ons. This includes A/R, purchase orders, report writer, fixed assets and several others. The software is available in two major platforms which are Microsoft Access and SQL Server.

What is the actual cost?

ITQlick pricing score is 5 out of 10 (10 is most expensive). Access ITQlick pricing guide for GMS Accounting.

Pros

• GMS maintains 5 different types of budgets which you can choose from according to the specific needs of your business
• GMS Accounting allows you to use the cash reports and directly attach the revenue with the grant or project
• Flexible security setting of the system allows the administrators to assign different levels of security to different users
• Various add-ons are available in addition to the core features of the software
• GMS can be implemented on two most prevalent database platforms of Microsoft Access and SQL Server

Cons

• The software does not offer any mobile app to go along with mobile platforms and devices.
• In the accounting module, the software does not offer the features of audit trail and multi-currency operation
• The billing and invoicing module does not have the important features of automated transactions, credit card processing, and e-commerce
• GMS Accounting has support only for Windows OS and does not support Mac OS based systems
• The tax features of the software do not include VAT, multiple sales tax, and business activity statements

How it stacks up?

Access a head to head analysis of GMS Accounting vs alternative software solutions.

Frequently Asked Questions (FAQs)