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Accounting Software


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Intacct logo
 
Intacct’s Cloud-based accounting solution offers reporting, forecasting, performance management and invoicing in addition to its core accounting features. Built on the Oracle database and accessible via any Web browser.
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Intacct’s Cloud-based accounting solution offers reporting, forecasting, performance management and invoicing in addition to its core accounting features. Built on the Oracle database and accessible via any Web browser.
 
Multiview Enterprise .NET n10 logo
 
In total, Multiview’s Enterprise accounting solution includes 14 modules to help organizations manage its financials, analyze its assets and report on its cash flow through visualized reports. Pricing based on number of users.
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In total, Multiview’s Enterprise accounting solution includes 14 modules to help organizations manage its financials, analyze its assets and report on its cash flow through visualized reports. Pricing based on number of users.
 
Cougar Mountain DENALI logo
 
Denali Accounting Software works for a variety of industries, but is ideal for nonprofits, governments and point-of-sale businesses. Available as either a Web-based or on-premise system, it's a great match for SMBs.
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Denali Accounting Software works for a variety of industries, but is ideal for nonprofits, governments and point-of-sale businesses. Available as either a Web-based or on-premise system, it's a great match for SMBs.
 
NetSuite logo
 
A leader in Web-based software, we recommend Netsuite to buyers looking for an accounting solution hosted in the Cloud. In addition to core accounting, NetSuite includes customer marketing, HR and inventory management modules.
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A leader in Web-based software, we recommend Netsuite to buyers looking for an accounting solution hosted in the Cloud. In addition to core accounting, NetSuite includes customer marketing, HR and inventory management modules.
 
Sage Live logo
 
Sage Live is a web-based and mobile ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More
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Sage Live is a web-based and mobile ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More

Call us for a free FastStart Consultation: (844) 680-2046


 
Sage 100 Standard and Advanced ERP (formerly Sage ERP MAS 90 and 200) logo
 
We recommend Sage’s Windows-based solution to businesses of all sizes--from smaller organizations with one location to corporations with thousands of employees. A great option for manufacturers and distributors.
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We recommend Sage’s Windows-based solution to businesses of all sizes--from smaller organizations with one location to corporations with thousands of employees. A great option for manufacturers and distributors.
 
Aplos Accounting logo
 
Aplos fund accounting is a web-based system designed specifically to serve the needs of churches and nonprofit organizations. Aplos fund accounting is available on a standalone basis or within an integrated suite with online donation... Read More
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Aplos fund accounting is a web-based system designed specifically to serve the needs of churches and nonprofit organizations. Aplos fund accounting is available on a standalone basis or within an integrated suite with online donation... Read More
 
Vena Cloud logo
 
Vena is a cloud-based, corporate performance management (CPM) solution that leverages native Microsoft Excel and maps existing spreadsheets, models and formulas to a secure database, eliminating the need for manual work and driving... Read More
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Vena is a cloud-based, corporate performance management (CPM) solution that leverages native Microsoft Excel and maps existing spreadsheets, models and formulas to a secure database, eliminating the need for manual work and driving... Read More
 
Adaptive Insights logo
 
Adaptive Insights, founded in 2003, provides a web-based system for budgeting, forecasting and reporting. The solution is suitable for a wide variety of company sizes. Delivered over the Web in a software-as-a-service (SaaS) model,... Read More
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Adaptive Insights, founded in 2003, provides a web-based system for budgeting, forecasting and reporting. The solution is suitable for a wide variety of company sizes. Delivered over the Web in a software-as-a-service (SaaS) model,... Read More
 
A3 Modeling logo
 
A3 Solutions offers a powerful solution for Budgeting and Forecasting and Financial Reporting. Suitable for companies in many verticals, it can be deployed either web-based or on-premise.
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A3 Solutions offers a powerful solution for Budgeting and Forecasting and Financial Reporting. Suitable for companies in many verticals, it can be deployed either web-based or on-premise.

Call us for a free FastStart Consultation: (844) 680-2046


 
Financial Edge by Blackbaud logo
 
Nonprofit organizations researching accounting systems should evaluate Financial Edge NXT by Blackbaud. From a leader in NPO software, The Financial Edge can be deployed as an on-premise solution or hosted by Blackbaud.
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Nonprofit organizations researching accounting systems should evaluate Financial Edge NXT by Blackbaud. From a leader in NPO software, The Financial Edge can be deployed as an on-premise solution or hosted by Blackbaud.
 
AccuFund Accounting Suite logo
 
AccuFund is a full-featured accounting and financial reporting solution that was created specifically for the nonprofit industry. Nonprofit organizations and government agencies with multiple funding sources need to report activity... Read More
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AccuFund is a full-featured accounting and financial reporting solution that was created specifically for the nonprofit industry. Nonprofit organizations and government agencies with multiple funding sources need to report activity... Read More
 
SAP Anywhere logo
 
SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More
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SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More
 
Abila MIP Fund Accounting logo
 
Abila MIP Fund Accounting exclusively serves the financial management and fund accounting needs for thousands of nonprofits and government agencies. MIP has received the Campbell Award for several years in a row. MIP is an integrated... Read More
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Abila MIP Fund Accounting exclusively serves the financial management and fund accounting needs for thousands of nonprofits and government agencies. MIP has received the Campbell Award for several years in a row. MIP is an integrated... Read More
 
Budget Maestro logo
 
Budget Maestro by Centage allows financial executives to easily transition away from error-prone, disparate spreadsheets to an automated system that provides comprehensive budgeting, forecasting, consolidation and reporting tools.... Read More
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Budget Maestro by Centage allows financial executives to easily transition away from error-prone, disparate spreadsheets to an automated system that provides comprehensive budgeting, forecasting, consolidation and reporting tools.... Read More

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PlanGuru logo
 
With an unrivaled price point and robust reporting and budgeting features, PlanGuru is a powerful tool for prospective financial analysis, whether that involves a high level bank budget or a detailed operating budget for 100 or more... Read More
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With an unrivaled price point and robust reporting and budgeting features, PlanGuru is a powerful tool for prospective financial analysis, whether that involves a high level bank budget or a detailed operating budget for 100 or more... Read More
 
Sage Fixed Assets logo
 
This accounting solution from Sage is specifically designed to help businesses better manage their fixed assets. This Windows-based solution supports over fifty methods of tracking the depreciation of tangible assets.
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This accounting solution from Sage is specifically designed to help businesses better manage their fixed assets. This Windows-based solution supports over fifty methods of tracking the depreciation of tangible assets.
 
Host Analytics EPM Suite logo
 
Host Analytics EPM Suite is a cloud-based Enterprise Performance Management solution. Host Analytics EPM Suite is suitable for mid-sized to large businesses seeking a system that can provide insights into their business. It includes... Read More
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Host Analytics EPM Suite is a cloud-based Enterprise Performance Management solution. Host Analytics EPM Suite is suitable for mid-sized to large businesses seeking a system that can provide insights into their business. It includes... Read More
 
Series4000 logo
 
Real Asset Management (RAM) has been an industry-leading provider of fixed asset management and asset tracking solutions for more than thirty years, providing software that is currently in use by thousands of companies worldwide. Their... Read More
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Real Asset Management (RAM) has been an industry-leading provider of fixed asset management and asset tracking solutions for more than thirty years, providing software that is currently in use by thousands of companies worldwide. Their... Read More
 
Acumatica ERP logo
 
Acumatica ERP delivers adaptable cloud and mobile technology with a comprehensive user licensing model, enabling a complete, real time view of a business anytime and from any location. Through a worldwide network of partners, Acumatica... Read More
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Acumatica ERP delivers adaptable cloud and mobile technology with a comprehensive user licensing model, enabling a complete, real time view of a business anytime and from any location. Through a worldwide network of partners, Acumatica... Read More
 

Buyer's Guide

by Eileen O'Loughlin,
Market Research Associate
Last Updated: April 22, 2017


There is a vast array of accounting softwares and financial management solutions on the market today, with specialized functionality for almost any industry or size of organization. Moreover, the specific type of accounting can differ between programs—project, fund and fixed asset are examples.

Add to this variety the constant change of standards, compliance requirements and technology platforms, and the process of selecting enterprise accounting software gets tricky. This buyer's guide is intended to make the process much more bearable.  

Here's what we'll cover:

What Is Accounting System Software?
Application Categories
What Type of Buyer Are You?
Market Trends You Should Understand
Benefits & Potential Issues
Recent Events You Should Know About

What Is Accounting System Software? 

Business accounting software keeps track of the financial transactions within an organization. A core package includes the following modules:

Spending statistics in Quicken

Spending statistics in Quicken

These systems occasionally come with specialized functionality for particular types of businesses or companies. An example is fund accounting for nonprofit organizations and government entities. Because it's a critical business process, it's often a central component of an organization's enterprise resource planning (ERP) system.

Application Categories

Core accounting Core systems assist with the basic functions necessary to balance a business' books, including general ledger functionality, the ability to track accounts payable (A/P) and accounts receivable (A/R), fixed assets and bank reconciliation. Every business requires these core functions to manage its finances.
Project accounting This type of system helps project-oriented businesses maximize job profitability and efficiency by tracking detailed project costs. Businesses can examine past job costs and estimate future costs to choose the jobs that will achieve adequate profit. It tracks by project factors like labor, overhead, materials and equipment to improve decision-making.
Fund accounting These solutions support nonprofit and governmental entities in tracking their development and spending of funds. Nonprofit organizations can track their expenditures of donations or grants to make sure they meet fund provider requirements. These systems also allow government entities to make sure they meet unique Governmental Accounting Standards Board (GASB) regulations.
Inventory management This type of solution helps companies keep the correct inventory levels to maximize profit, avoid overspending and minimize the costs associated with inventory depreciation. The right system keeps inventory information up-to-date by tracking product levels as well as orders, sales and deliveries. The Generally Accepted Accounting Principles (GAAP) stipulate specific ways to account for inventory to ensure proper reporting of value for inventory that has depreciated or undergone other changes. Software with inventory management capabilities ensures this is done correctly.
Billing & invoicing These systems automate the collection of payments from customers to enable timely and consistent collection with minimal human error. There are many different types of billing and invoice systems designed to support the wide range of industries, business models, payment methods and operational scales.
Budgeting & forecasting Users can leverage budgeting and forecasting solutions to project a company's financial outlook from historical data and estimate future conditions. These systems are typically used in businesses that must consolidate multiple departmental forecasts and budgets, and are most helpful where multiple variables drive the ultimate forecast.
Fixed asset accounting This type of system tracks fixed assets by providing a central database of important asset information, including location, check-in and check-out, due date for return, maintenance scheduling, audit history, cost and depreciation. Depreciation schedules are a core element of this specialty.
Payroll management Payroll systems help businesses track and process employee payrolls. They also compose and print paychecks, automatically withhold and pay government taxes and generate the necessary legal and tax reports on a regular basis. Automated reminders to pay required fees help businesses avoid legal penalties.

What Type of Buyer Are You?

Before evaluating your options, you must determine what type of buyer you are. Over 90 percent of buyers fall into one of these three categories:

Growing small-business buyers. These businesses are on the verge of upgrading basic systems, such as QuickBooks, to more robust small-business accounting systems that will support sophisticated functions (such as demand forecasting, intercompany accounts, increased data storage and others). Growing businesses upgrade their systems for a range of reasons. Industry-specific functionality will become important when a small company reaches a certain size threshold.

Enterprise buyers. These buyers represent businesses and organizations that need the functionality of a full enterprise resource planning (ERP) suite. Usually, these systems will include functionality for multi-company consolidation, international operations and foreign currency and other concerns relevant to large entities. Seamless integration is usually more important than specific features; however, there is considerable differentiation in both of these areas, and buyers should examine both. SAP and Oracle, two of the largest vendors, have some of the most feature-rich systems on the market.

Best-of-breed buyers. These buyers are focused on specific functions. For example, nonprofit organizations need to look specifically for accounting software for business that can perform fund accounting. This method tracks funds in such a way that different grant providers can see the right report on how each fund amount has been used. Meanwhile, in education, universities and colleges often need software specific to higher ed, for example to track the disbursement of financial aid. Construction companies or engineering firms, on the other hand, usually need a system that can break down costs by each project, location and other characteristics. For best-of-breed buyers like these, functionality is often more important than integration.

Benefits & Potential Issues

The key benefits of financial management systems are clear: better visibility of costs and expenditures, which leads to more financially responsible decision-making. In addition, systems can generate reports in a variety of ways to summarize this information cleanly for the right audience.

For example, nonprofits can generate reports specific to a particular grant provider, detailing exactly where every cent of the funding ended up. This allows an organization to be accountable to investors, donors and lenders, maintaining trust and avoiding financial damage. These systems also allow companies to ensure compliance with reporting standards and federal requirements.

There are a number of issues that should be avoided when selecting a solution. Buyers in certain vertical industries must make sure the appropriate modules are included in the system they purchase. For example, engineering firms and construction companies should choose a system with a project accounting module.

Another issue is a company's rate of growth; the buyer should consider how fast the company is growing at the time of purchase. This way, the company will not grow out of a system immediately after investing considerable time and funds in the selection and implementation processes.

Market Trends You Should Understand

As you evaluate accounting software packages, consider these current market trends:

Software-as-a-Service (SaaS). SaaS is picking up speed as buyers realize the advantages of lower upfront costs and quicker implementation time. NetSuite is a prominent example of a SaaS system: In fact, it is available only as a SaaS offering.

Mobile apps. Mobile applications are gaining popularity across the board, and accounting is no exception. Check to see how each vendor is innovating on this front.

Increased specialization by industry. Increasingly, consumers are demanding more industry-specific features, and vendors are listening. Products that were once “horizontal”—such as Sage MAS 90/200, QuickBooks and Microsoft Dynamics—are increasingly adding new vertical features to cater to buyers’ specific industries. Make sure to keep a lookout for features that fit your particular industry when investigating tools and solutions.

Business intelligence. Interest in business intelligence is on the rise. Business intelligence takes the massive amount of data collected and organizes it into reports designed to support business improvement. Many vendors are now integrating business intelligence into their ERP accounting and financial management systems.

Recent Events You Should Know About

Oracle acquires Netsuite. In July 2016, Oracle purchased Netsuite, further expanding the already impressive reach of its cloud platform. Netsuite’s financial management solution has become a key player in the small and midsize business (SMBs) accounting market, while Oracle is well-known in the enterprise space. It will be interesting to see how this merger will impact customers in the long term—in the interim, users should expect more integrations between NetSuite and Oracle products.

Sage adds chatbot and AI to cloud accounting software. Initially launched at the Sage Summit conference in 2016, Sage officially released its chatbot with its Sage One software in January 2017. The chatbot, Pegg, uses artificial intelligence (AI) technology to provide businesses with a “virtual accounting assistant.” With Pegg, users can track receipts, submit expenses, see which customers are behind on invoices and more.

Zoho launches customized payment solution: Zoho Checkout. Zoho’s newest addition to their financial suite is a customizable online payments solution designed for businesses of all size. Users can build and brand a secure payment page, connect with a payment gateway and collect one-time and recurring payments from customers. Zoho Checkout is available in both free and paid plans, with capabilities increasing as plans scale.

 

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Accounting Software Pricing Guide

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