Simply put, accounting is the lifeline of a business. Accounting deals with summarizing, analyzing and reporting the financial data and information about a business. An accounting software records and processes the accounting transactions of a business within its functional modules. Financial statements consisting of the balance sheet, profit and loss account, and statement of changes in financial position can be easily prepared with an accounting software.
An accounting software is all about the various functional modules that it has. Some of them are- General ledger which takes care of the company's financial dealings; Accounts Payable where the company enters its bills and pays the money it owes; Accounts Receivable where money received is entered.
The different categories or types of accounting software are as follows:
a) Small business/personal accounting software which are mainly meant for home users. They are simple and inexpensive with simple functioning such as management of budgets.
b) Low end accounting software are for small business markets that are capable of serving a single national market. Such software are characterized by 'single entry' products.
c) Mid market accounting software are for companies with large businesses. These software are capable of serving the needs of multiple national accountancy standards and facilitate accounting in multiple currencies.
d) High end accounting software are complex and expensive business accounting software that are also known as Enterprise Resource Planning or ERP software.
However, you have to keep certain things in mind before buying an accounting software, like the prices of the software, its different features, its after-sales support and alike. Most of the accounting software include all the important accounting modules. The more specialized features a software has, the more expensive it becomes. Your software features must be compatible with your business. Also, the after-sales support is important like FAQ package, local service center and others.
There are a lot of top accounting software available in every category. So, it is not easy to select the best ones. Below are top five accounting software in every category.
A. Small business/personal accounting software:
1. ePeachtree (Best Software)
2. MYOB Plus for Windows (MYOB Software)
3. Peachtree Complete Accounting (Best Software)
4. QuickBooks Online (Intuit)
5. Small Business Manager (Microsoft)
B. Low-End Accounting Software:
1. BusinessVision 32 (Best Software)
2. MAS 90 & MAS 200 (Best Software)
3. QuickBooks Pro 2003 (Intuit)
4. ACCPAC Pro Series (ACCPAC International)
5. Vision Point 2000 (Best Software)
C. Middle-Market Accounting Software:
1. ACCPAC Advantage Series Corporate Edition (Best Software)
2. Great Plains (Microsoft) MAS 90 & MAS 200 (Best Software)
3. Navision (Microsoft)
4. SouthWare Excellence Series (SouthWare)
5. SYSPRO (SysproUSA)
D. High-end accounting ERP Market:
1. Axapta (Microsoft Software)
2. e-Business Suite (Oracle)
3. MAS 500 (Best Software).
4. Solomon (Microsoft)
5. ACCPAC Advantage Series Enterprise Edition (Best Software)
In compiling the above list, a variety of factors such as feedbacks from customers, scalability of the software, and after-sales support are used. Also, the different attributes for different categories have been considered like for ERP software, attributes such as manufacturing solution, supply chain solution and database solution. The above compilation may not be all inclusive and some people might choose to differ with it but it is almost near to perfect list.
The author writes about a number of different topics. For more information on accounting software visit http://www.managemyaccounting.com/ and also visit the article pages: http://www.managemyaccounting.com/accounting-software-myths/ and http://www.managemyaccounting.com/types-of-acconting-software/
- Related Videos
- Related Articles
- Ask / Related Q&A
- Acquiring ERP Contacts Targeting Major Software Accounts Leads and Decision Makers from SAP, JD E, Oracle, PeopleSoft, Siebel.
- Qc Software’s Jerry List Cited in the Machinist
- How to Reduce your Accounting Expenses – Simple Effective Steps!
- Accounting for Software Companies: Time to Bring About Uniformity and Consistency
- A Guide To Choosing The Right Forex Trading Software
- Document Management & WorkFlow in an Outsourced Accounting process
- Explanation of T-account, Debit and Credit, and Double-entry Accounting System
- Various Advantages of Softwares
Understanding IP Crime
By: Lawrence J. Reaves | 12/12/2009IP crime has been around as long as the internet because the IP, or Internet Protocol, is the tool by which the internet is allowed to work. We should also distinguish IP crime - Internet protocol crime is where criminal misuse of Internet Protocol is used in the commission of...
How to Effectively Prevent the Computer Radiation
By: melon | 12/12/2009With the development of society, computers gradually play a very important role in our daily life. So how to effectively prevent the computer radiation becomes a hot topic. Nine tips are introduced in the following article.
Speed Up Your PC And Make Computer Errors A Thing Of The Past
By: Sayid Jarrah | 11/12/2009The most effective way to deal with slow computer problems is to follow the guidelines in this article in order to not only enable you to speed up your PC, but also help in the prevention of computer errors in the future.
How To Take Control Of Your Computer Problems
By: Sayid Jarrah | 11/12/20098 out of 10 times your computer develops an error, it is likely due to software issues. The good news is that software errors are probably the simplest to resolve. In this article are some of the steps that you can take in order to solve PC problems related to software issues.
HDMI Vs DVI - What is the difference?
By: Brad Green | 11/12/2009HDMI and DVI are both regarded as excellent methods of cable connection that for high definition video. In terms of quality, both of these are exactly the same, so these two should not be compared in terms of quality. However, it is known that HDMI can carry audio in addition to video signals and this proves to be the principal difference between the two.
BROADBAND ARTICLES.Broadband Articles
By: Robert McClure | 11/12/2009Communities have been quick to jump on the broadband band wagon to promote their local historical and other various tourist attractions. No other marketing resource reaches as far and as effectively as the internet.There are so many fantastic benefits to a high-speed, broadband internet connection, that it is becoming as “basic” a need as a computer in today’s society. Look at this website, there are thousands of Articles on almost all subjects, plus more links for your help. http://www.toparticlereviews.com
Fast, Free Fixes For Frequent PC Problems
By: James Ricketts | 11/12/2009The frequency of PC problems is largely dependent on regular PC maintenance and precautions taken to prevent problems in the first place. In this article are some easy guidelines to help you apply fast and free fixes for frequent PC problems on your own.
Top Tips To Prolong The Life Of Your PC
By: James Ricketts | 11/12/2009Several surveys among PC user groups have concluded that users who took proper care of their computers were able to prolong the life of their PC by almost two years compared to those who simply ignored this crucial aspect. Listed below are some simple tips anyone can follow to help prolong the life of your PC.
10 Things To Look For Before Buying A Treadmill...
By: Ashish Jain | 22/06/2007 | HealthOften people complain about the lacking time when it comes to working out, exercising or following a fitness regime. If you are also the one among these, you need to buy a home treadmill. For, it is one of the most essential and useful home exercise equipment today. But before...
How To Holiday With A Disability?
By: Ashish Jain | 21/04/2007 | HealthEverybody enjoys being out on the holidays. It is a merry making time and people want to enjoy it to the fullest. They want to have all the fun that has allayed due to their busy lifestyles. They want it to remain in their memory forever. They want nothing to...
Combating Hypertension With Right Diet
By: Ashish Jain | 21/04/2007 | MedicineHigh blood pressure is not an uncommon medical term. Often you see in magazines, newspapers, articles pertaining to its causes and remedies. But when you will find yourself suffering from it, you might be left dumb-founded with astonishment and disbelief. This is because you wonder as to how could it...
Treating Back Pain With Alternative Methods
By: Ashish Jain | 21/04/2007 | MedicineNeck and back pain is a common occurrence these days. All of us have experienced it on more than one occasion. Sometimes it is a bad sleep at night, sometimes a long day at the office and at times a sudden jerk is what causes a neck or back pain....
Do You Know What Is Your Acne Type
By: Ashish Jain | 21/04/2007 | MedicineAcne assails the skins of millions of people across the world. And all of them begin with a comedo, which develops as a result of clogged pore. A comedo actually remains there under the skin for quite some time without creating any problem. When the conditions are right and bacterial...
Easy And Inexpensive Home Remedies For Acne
By: Ashish Jain | 20/04/2007 | MedicineIf one looks out for the treatments available for acne today, one would be astounded by the available range to choose from. However, there is a great range of products that could help you, but at the same time, they could be quite heavy on your pocket as well. Besides,...
Some Treatment Methods To Clear Acne Scars
By: Ashish Jain | 19/04/2007 | MedicineAcne appears on the skin but disturbs people deeply. It has got more to do with the way it looks and the pain it brings along. For, it sometimes leaves behind severe scarring. The acne problem sometimes does not end with its disappearance, especially if one had been suffering from...