Wednesday, 5 September 2012

Types of Accounting Software

Accounting is a part of every organization, be it small or big, one has to maintain the daily financial transactions. Earlier people used to use accounting books and files where the financial transactions were maintained manually. But humans can make mistakes hence, it was inconvenient at times. But today, a lot of companies use varied software as per their needs and requirements. Not only businesses and company owners use the software but common individuals can use different accounting software for the personal use. Some of the software are also very flexible and can offer a range of applications that can adapt work flow as and when the need arises. Such accounting software can help you enhance the compliance, increase the staff productivity, improve the date accuracy, and reduces the errors. This all results in increased profits and higher revenue.

Different Accounting Software Packages

As I mentioned earlier, there are various accounting software that are designed to cater the different needs of different businesses and practices. You can also go for custom-made software that is compatible with your business process and requirements. The different software are characterized by their applications that are suitable and apt for particular industry, organization, or an individual. Given below are some of the popular accounting software:

Accounting Software for Personal Use
This kind of private software are meant for home use. You can have such software downloaded on your personal computer or laptop that can help you manage your house hold budget and finances. The applications involved in such software are adequate and simple and are meant to meet with all the basic accounting requirements such as, budget planner, accounting spreadsheet, charts, bookkeeping, automate upgrades, and wealth monitor, etc.

Accounting Software for Small Business
This type of software is also known as low end accounting software. As the name suggests, easy accounting software for small business fulfills the accounting needs of small businesses, such as, generating invoices, financial reporting, e-commerce, merging accounts and managing payrolls, etc. Some of the best small business accounting software have moderate amount of applications that are flexible and convertible.

Accounting Software for Big Business
These software are also known as high-end accounting software. They are generally used in big corporations functioning in multiple states or countries. The biggest advantage of high-end software is that they allow great networking and have 'n' number of applications that can be accessed from anywhere. These software are very complicated and extremely flexible when it comes to broader use and hence, they are very expensive as well.

Apart from this, there are other accounting software, such as, mid market accounting software, vertical market software, and hybrid solutions software, etc., that you can install if it suits your business type.

List of Accounting Software

There are many companies that manufacture different types of accounting software. Given below is the list of accounting software that are endowed with different applications:

Low-End Accounting Software

    Vision Point 2000
    QuickBooks Pro 2002
    Peachtree Complete Accounting 2004
    M.Y.O.B. Plus for Windows
    Business Works
    Business Vision 32
    Small Business Manager
    Oracle Small Business Suit
    Quick Books for the Web
    Simply Accounting
    ePeachtree
    MAS 90 and MAS 200
    ACCPAC Pro Series

Mid-End Accounting Software

    ACCPAC Advantage Series Corporate Edition
    Accoutmate
    SYSPRO
    Navision
    Solomon
    SouthWare Excellent Series
    Traverse
    Great Plains

High-End Accounting Software

    Axapta
    Epicor
    e-Business Suite
    MAS 500
    Lawson Enterprise
    One World
    Oracle Financials
    People Soft
    SAP R/3

These were some accounting software that you can choose from. Apart from this there are many online free accounting software that you can use but it is difficult to track their authenticity. So it is advisable to buy a standard software from the authentic dealer. Now go ahead and keep an effortless track on your financial behavior.