Years ago, in an age where the existence of computers was still a mystery, work was done manually and accounts were religiously maintained by hand. Then, a savior called Technology arose and saved humanity! The internet has become a way of life, a thread that connects us to the world. Of course, this technology has had a powerful impact on every aspect of professional activities, accounting including. In recent years an array of software have cropped up, each of them offering financial management solutions.
What is Accounting Software?
Before purchasing accounting software, you should be able to understand what an accounting software does. In simple words, a business accounting software keeps track of the financial transactions within an organization. A package basically includes general ledger, accounts receivable, accounts payable, payroll and reporting modules. At times, these systems may come with specialized functionality for particular kinds of business/companies.
In the past couple of years a number of companies have launched various software that make an accountant’s job quite easy. Listed below are names of software that an accountant should definitely be aware about.
Sage Peachtree Accounting
Sage Peachtree accounting software has four versions since it was launched. The various versions meet the needs of a variety of businesses, including Peachtree Pro for small business. They have even developed versions for nonprofit organizations, manufacturing, construction and other industries.
This software is amazingly simple to understand and quick to use, especially for small business. Its features include banking, email integration, expense handling, HR and payroll, inventory management, invoice, multi currency, multi location, multi user login, roll based access, online document storage (back-up), payment handling, product database, production management, project management, purchase management, quotation & estimation, recurring invoice, task management, tax handling, time tracking and warehouse management.
One of the leading software in India, BUSY is a solution for small to medium businesses. The software has more than 1,20,000 installations and some of its features include email integration, job costing, online banking integration, POS invoice and much more.
Crave Accounting Pro
One of the most used software in India; Crave Accounting Pro is handy software for accounts. This software is perfect for multiple businesses and features includes balance invoicing, inventory management and provides all the necessary features that are needed to successfully manage a company. An added bonus is that it has the power and flexibility to be the all-in-one solution for running multiple size companies.
Issues to pay attention
These software are just a few, for there are many more available in the market. But before buying any of them, there is something that you should keep in mind. Buyers belonging to certain industries should make sure the proper modules are included in the system. For example, a construction company should pick a system with a project accounting module. The other factor to be considered is the rate of growth chose software that won’t outgrow the company soon.
All things said and done, do take advantage of this technology and make your work simpler!