Are you tired of maintaining your company’s finance by maintaining a lot of ledgers and account books? When the way of spending money has become easy by things like online shopping, door step delivery, then why not there should be a more simple way of recording the accounts we had spent. When there is a need there comes the necessity for new innovative ideas like accounting software.
With the help of Accounting software we can record and processes accounting transactions and elevate details of accounts payable, accounts receivable, payroll and trial balance. It functions as an accounting information system. This software helps us to get away from the minute mistakes done by the accountants, this is because it gives us accurate record and details of the particular transaction.
As a buyer you might be baffled of choosing which kind of accounting software product. Here are the things which you should keep in mind while choosing one for your company.
- First fact to be remembered is who you are. By knowing this half of the problem is solved. I may categorize people who are in the need of accounting software into the following categories.
- A developing company
- A developed company
- An e-commerce company
- An nonprofit organization.
- It would be easier if you take an advice from your accountant before installing a software. They may help or suggest you in deciding which product to be chosen.
- You should be clear with the budget you are able to afford. Take considerations for the cost of installing the software, most vertical business accounting software is sold through a value-added reseller (VAR), so they can demonstrate the program and assist you with the installation, set-up, and training.
Types of Accounting Software used currently are discussed briefly to get an overview:
- If you are searching for a software with low upfront cost, then you can install Software-as-a-Service (SaaS). Netsuit serves as one of the best example.
- Mobile applications are gaining popularity across the board, and accounting is no exception. Check to see how each vendor is innovating on this front.
- Analyzing and presenting the data plays a key role in the corporate world. Business Intelligence lends its hand for this.
Every Accounting Software is good in its own way, but it will turn into the best by the company which uses it. So you have to be a lot more choosy while picking one for your company. To be more clear and simple let me list out the specialties of some of the Accounting Software.Now it is in your hand to pick the most suitable one for you.
QuickBooks is most suitable for small business.It keeps track of each and every transaction made. For example there may be a time where an employee have to give bills for the expenses he had done on behalf of the company, Quickbook eases the work of that employee by its adequate means of tracking .It is user friendly and easily gives annual report which can be shared easily through mails.
Oracle can be used when you have a lot of transactions to be handled at a time. A substitution for Oracle software is Mysql , because it has somewhat similar features. A built in tool in Oracle helps us to take an easy backup. It consists of a lot of tools to assist you frequently done tasks easily and more frequently updates the software to clear the bugs of previous version.
FreshBooks can be used by any kind of smart device like android devices, iphones , ipads , etc… It also allows us to talk to a person at anytime from 8 am to 8 pm. It serves well for growing businesses companies.It is faster and well organized.
It allows employees to easily get information from Microsoft Dynamics into Office System Applications.It helps us in easy access of data through context switching tools.It is easy in migration of existing data with new data and offers greater security.
Wave suits best for the start-up companies.To be more specific it is good for entrepreneurs, freelancers, consultants or companies which consist of employees less than 10.It gives accurate and detailed information.
The most biggest advantage is that it does not need any installation or maintenance can be used anytime or anywhere.It is fast and simple and can support more clients in less time.Back up and collaboration of data can be done in a fraction of seconds.
SAP (system applications and products in data processing), is a package which allows more flexibility. It integrates well with other modules of Software. Also SAP’s market share gives some certainty of business and hence it is much better than any other smaller ERP applications in terms of career prospects.
Make Your Decision:
You would have had discussions with a lot of people within your organization and outside, read third party reviews and read me files of the vendor. So, what tends you to make decisions? That’s totally up to you. Analyze by creating your own wish list and give priority to software that meets most of your demands. As you know there is nothing which can meet all your demands, but there is one that meets the most.
Check full list of accounting software here