| Accounting Overview | | | | - Localisation (allowing you to use the software in |
| Want to stop using an accountant and | | | | your own language) |
| do-it-yourself? Looking to replace or upgrade your | | | | - Cheque/Check printing |
| accounting software. Read on for a high level | | | | The Right Solution For You |
| overview of Accounting Software. | | | | You should really, consider: |
| Whatever our business - church, construction, | | | | - How are you managing your accounts at the |
| fund, inventory, manufacturing, nursery, payroll, | | | | moment? |
| project, restaurant, etc - an accounting software | | | | - How many transactions do you have a month? |
| system will help you to lower your costs, improve | | | | (manual might be best if you only have a dozen |
| your accounts' accuracy and give you a much | | | | transactions a month for example) |
| better idea of how your company is performing. | | | | - What type of company is yours? (meaning |
| Also, an accounting software system may just | | | | what type of legal entity is it?) |
| help you with the e-filing (electronic/online filing). | | | | - How many people wil be using the system? |
| Accounting Software Functionality | | | | - Do you know what your business needs? If you |
| Generally, you need to manage your sales**, | | | | know what your business needs, then you will be |
| customers**, inventory and other information | | | | able to better match up functionality of the |
| along with associated documents. You will | | | | accountancy package(s) you are considering. |
| definitely want to generate reports. | | | | - What database will the accounting package be |
| Ideally - to manage your sales**, customers**, | | | | using? |
| inventory and other information - the | | | | Some Popular Accounting Software Examples: |
| 'out-of-the-box' (minimum or no configuration | | | | - Personal: GnuCash (GPL), Quicken |
| required) accounting software will manage: | | | | - Small Enterprise: Microsoft Office Accounting, |
| - your money coming in (Accounts Receivable) | | | | TurboCASH (GPL) |
| - your money going out (Accounts Payable) | | | | - Medium enterprise: NetSuite (on-demand), Tiny |
| - your main documents (Billing, Purchase Orders, | | | | ERP (GPL) |
| Sales Orders) | | | | - Large Enterprise: Oracle Corporation, SAP |
| - your inventory (Stock) | | | | Conclusion |
| Additionally (probably extra cost) you may need | | | | The cost of your chosen accounting software will |
| your chosen system to manage: | | | | vary greatly. Your supplier should have no |
| - money owed to you | | | | problems showing you (not just telling you) how |
| - your staff's expenses and salaries (Payroll) | | | | and why they are a good partner for your |
| - project times (so that you can charge for actual | | | | company. Don't be afraid to ask questions - not |
| work against projects your staff are working on) | | | | to trip them up, but to get ansers to issues |
| - approval processes (so you can submit, then | | | | important to you. Be frank and open with the |
| track who approved what and when) | | | | supplier - you'd expect the same back after all! |
| Advanced Requirements: | | | | Negotiate hard - before you sign is the best time |
| - integration to other systems (normally | | | | for getting a good price and/or goodies (training, |
| enterprise systems) | | | | consultancy, health checks, etc) thrown in. |
| - major imports (when initially bringing data into | | | | Keywordsaccounting software, business |
| the system) | | | | accounting software, business software, financial |
| - minor imports (for regular use by staff for | | | | software, small business software, tax accounting |
| getting small quantities of data into the system) | | | | software, bookkeeping software, free accounting |
| - backing up of the accounting system (meta | | | | software |
| data, as well as configuration of the system) | | | | References |
| - reporting/graphs (for high-level views such as | | | | "Accounting Software Overview" Accounting |
| Balances, Profit & Loss, Portfolio overviews etc) | | | | Software Overview from RCS Limited an IT |
| - Multiple currencies | | | | Training Company. |
| - Import ability | | | | |