I'm running an accountancy firm and I was very excited when I came across this software. It's very simple to use and does all your bank reconciliation in minutes after uploading your bank statements (it still needs to be reviewed).

My heart breaks that I have to return this, but it's missing some important reports/features for us:
-It only generates a Profit & Loss Report, but not a Balance Sheet, so we can't use it for year end accounts.
-Additionally, you can't account for VAT (Sales tax) with it, nor generate VAT returns to submit to the tax authority.
-As it takes all the data from your bank statements (gross amounts) but you can't account for the VAT included in these amounts, all the figures on your Profit & Loss Report will be wrong including your net profit as a P&L report should show your NET figures (figures without VAT included) and the Balance Sheet should show the VAT due to the tax authority.
-It also can't do multi-currency accounting or only with a workaround. We are in the UK but pay for software subscription in USD and EUR also. The only way around this for now is setting up separate companies in Smart Clerk for the different currencies, but then you need to consolidate all these "companies" finances to end up with a P&L.
-Lastly, when I deleted our bank statements in it, it only deleted the bank statements, but not the imported transactions or vendor names. I could bulk delete the transactions, but then I had to manually overwrite every vendor's name if I didn't want them to stay in their system.
This was just a last inconvenience, but could be frustrating if you have to do some historical tidying up.

Anyway, without the above issues, I think it is a great software.
I look forward to their development, but at this time, it was just not usable for us.