Business Accounting Software

Accounting software automates an organization’s financial functions and transactions with modules including accounts payable, accounts receivable, payroll, billing , purchase order, inventory control, cash book , fixed asset and general ledger. See a  list of  business accounting software for small, medium and large companies  here.

Epicor 9, Intactt Financial and Accounting System, Accounting Suite, KiBiz, Blue Link Elite, DEACOM Accounting and ERP software, ABECAS Insight Cost Accounting, Total Office Manager, Aatrix Software, ABCosting, Acclaimed Software, Accounts-Reconciliation.com, Accountex Solutions, Accountmate Software, AccountPro Software, Accounts Portal, Accufund, Accura Software, Accurate Info Solutions, AccVision Software, AcTax Solutions, Active Data Online, ActiveWebSoftwares.com, Acumatica, Adapta Software, Addsum Business Software, Adminsoft, Advanced Software Development, AdvanTec Information Systems, AFS Technologies
Agresso, AICO Arena International  – HappyAccount,Allbase – Allbase Suite, AME Software – AME General Ledger, American Business Systems – ABS for Windows

Computerization of  business accounting has become a necessity for most organizations. Many companies have adopted some degree of computerization to help in managing their business more effectively. However not every company gets the results they desired. They may only realize that after the business accounting software system  is in place.

We tend to under estimate the implication of getting the right system. This is true for a business accounting software because the system will become the backbone of the company’s day to day operations. Getting  the right system will be very crucial to the success of the company as a competitive weapon.

Appraising and selecting the right business accounting software, implementing and project management of the whole installation is not a straighforward task. It entails a lot of time in financial resources, experienced and specialized knowledge to ensure successful selection of the right software and to manage the project successfully. Under-estimating the complexity, the commitment level and the involvement required may cause a lot of uncertainty and instability in the system.  It is important to know the key success factors, structure and the selection process of a business accounting software to avoid shortfall of many selection and implementation issues faced by many companies right from day one.

Components of a Business Accounting Software

A business accounting software  should be a flexible total accounting solution designed to help companies keep their accounting records in a manner  to assist them in  real-time &  effective decision from the financial information in the accounting records.

At the minimum. the software  modules of a total business accounting  software include the General Ledger. Accounts Receivable Accounts Payable,  Accounts Payable,   Bank & Cash Book and Fised Asset Register.

The standard features and functions enabled within each module of  the business acoounting software are outlined  briefly below.

General Ledger

General Ledger facilitates the management of corporate performance and the monitoring of return on investment by providing complete enterprise-wide financial recording, analysis and reporting from all aspects of the business. It integrates seamlessly with all other modules.

  • Flexible account structure
  • Multiple budgets and spreadsStanding journals and accruals
  • Full transation history
  • System wide drill-down
  • Dedicated General Ledger report writer

Accounts Receivable

Accounts Receivable improves cash flow management by accumulating and managing customer activity and ensuring timely revenue collection and effective reporting. This system enhances customer servicing by maintaining contact information, creating notes and detailing credit management information

  • Current/future period posting
  • Full multi-currency ledger
  • Flexible on-line enquiries
  • Full transaction history
  • Full integration with sales order processing

Accounts payable

Accounts Payable improves cash flow, while maintaining close relationships with suppliers by providing timely, accurate and efficient control of processing invoices, paying bills and analyzing expenses and available discounts.

  • Automatic invoice matching
  • Multi-currency
  • Discounts and payment terms
  • Flexible on-line enquiries
  • Invoice registration
  • Full integration with purchase order processing

Bank and Cash Book

  • Multi-currency bank accounts
  • Full integration with sales and purchase ledgers
  • Multiple payment methods
  • Bank statement reconciliation
  • Direct payment facilities
  • Cheque and remittance processing

Fixed Asset Register

  • Multiple depreciation methods
  • Asset grouping and locations
  • Additions and disposals
  • Full integration with General Ledger
  • Asset attachments
  • Full transaction history