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General Ledger Software

A general ledger is a core feature of most accounting software, and serves as a repository for all financial data from other subledgers and modules. Organizations, such as law firms or nonprofits, must keep separate ledgers for each client or account to comply with regulations. These will have to be reconciled monthly to ensure accounts match between the bank and the organization.

Highest User Rated
The top products as rated by users. When reviewing a product, users are asked to asses the product’s overall quality, ease of use, features & functionality, customer support and value for money.

BillQuick

4.50 (223 reviews)

"I purchased my first licenses of Billquick reluctantly, as an overpriced timesheet management system for my very small business and quickly began fighting to make it meet my partners needs for invoicing our clients. It was not pretty and there were times when we had serious discussions about whether this was the right fit for me. but the BQ team didn't give up and I am glad I did not. One advantage of a rough start was the opportunity to get to know and really appreciate the exceptional quality, skill, and patience of the support team assembled for BQ clients. Over the years, we have struggled and grown and improved our skills and processes together, and that is one of the exceptional things about this software and this company. They really do listen to their users and try to incorporate our priorities and needs into the upgrade process. The program is feature rich, and most companies won't need to use every feature that is available, but there are convenient and graceful ways to make each person's interface efficient, streamlined and comfortable. When the same program is usable for an intern on his first day and our power user when she is invoicing you know it is easy to use. I used to wish Quickbooks would get a better time management and invoicing capability so I could stop buying Billquick, but now I am trying to get rid of Quickbooks! The network versions work well, I can access the program over a VPN, and I have gone months without calls to the Support Team lately. Having grown from 5 to 30 employees since becoming a customer, I have to say, Billquick has been part of our path to success."

Barbara

July 2020

Rated Best Value for Money
The top products rated the best value for money by users. When reviewing a product, users are asked to assess the product’s overall quality, which includes assigning a specific rating for value for money.

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Deskera ERP is designed as a powerful and intuitive suite of business solutions with one goal in mind – to make digital transformation simple. This transformation has to be simple and economical. It is why Deskera... Read more

4.00 (16 reviews)

73 recommendations

For organizations seeking a solution that conforms to their existing operations, Multiview offers a suite of financial solutions. With Multiview, companies gain visibility over corporate data. The solution includes 14 m... Read more

4.50 (10 reviews)

47 recommendations

NetSuite is a business management software suite offered as a service that performs enterprise resource planning (ERP) and customer relationship management (CRM) functions. It is a horizontal package designed for an extensive r... Read more

45 recommendations

FINSYNC provides multi-user cash flow management in the cloud to US-based small and medium-sized businesses. Businesses can upgrade from payments to invoicing, bill pay, payroll, project tracking, time tracking, expense... Read more

4.50 (7 reviews)

41 recommendations

Sage Intacct is a provider of cloud-based financial management and accounting software. Sage Intacct's software solution is suitable for small to midsize accounting firms and can provide finan... Read more

23 recommendations

AccuFund is an online accounting and financial reporting solution designed specifically for the nonprofit industry. Integrated into one, AccuFund's Accounting suite helps nonprofit organizations and government agencies report f... Read more

4.00 (26 reviews)

16 recommendations

Aplos fund accounting is a cloud-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 ... Read more

16 recommendations

Your cloud-based, all-in-one business management solution. Striven is ready for your business right out of the box. With fully integrated accounting, CRM, inventory, project management, human resources features, it's the only s... Read more

5.00 (12 reviews)

13 recommendations

Financial Edge NXT is a cloud accounting solution from Blackbaud that provides transparency across teams, security, compliance, and reduces the need for manual processes. The system is a fund accounting solution that provides a... Read more

10 recommendations

Purpose-built to meet the needs of the modern nonprofit and government agency, MIP Fund Accounting® empowers organizations to track by fund, manage restrictions based on unlimited funding sources, and meet complex reporting... Read more

4.00 (65 reviews)

9 recommendations

Oracle JD Edwards EnterpriseOne is a cloud-based Enterprise Resource Planning (ERP) and supply chain management solution that provides ERP applications and tools for finance, consumer goods, human resources, distribution and ma... Read more

8 recommendations

FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent... Read more

4.00 (42 reviews)

4 recommendations

Every successful business eventually outgrows Excel spreadsheets and old software. If you are looking for new software that eliminates post-it notes, spreadsheets, and add-ons consider Versa Cloud ERP. Versa is modern a... Read more

5.00 (20 reviews)

4 recommendations

RealPage is a cloud-based property management solution suitable for businesses of any size. Key features include accounting, budgeting, facilities maintenance, purchasing, document management and reporting. RealPage ena... Read more

4.00 (16 reviews)

4 recommendations

nQativ’s Activity HD is an accounting and payroll solution suitable for small to mid-size companies. It offers tools to sort, filter and present data, plus security features to satisfy data confidentiality requirements. A... Read more

4.50 (45 reviews)

3 recommendations

FUND E-Z is a fundraising software for nonprofits that gives visibility into every facet of their organization. The software helps users to create and track budgets across fiscal years, detailing actual vs. budget for multiple ... Read more

4.50 (25 reviews)

3 recommendations

Flexi is an on-premise as well as a cloud-based accounting solution for the banking, insurance, healthcare and service industries. The Flexi accounting solution features automation of accounting process and completion of audit ... Read more

4.50 (5 reviews)

3 recommendations

Sage Fixed Assets is a hybrid asset management solution that helps businesses track and manage the fixed assets through different steps of asset lifecycle. The solution offers integrated accounting features and multiple methods... Read more

4.00 (39 reviews)

3 recommendations

AccountMate is a hybrid accounting solution that caters to small and midsize businesses and offers them tools and functionalities, which help them to manage their financial procedures and routines. The solution provides multipl... Read more

4.50 (22 reviews)

3 recommendations

Odoo is a fully integrated and customizable open-source suite of business applications including sales, CRM, project management, manufacturing, inventory, accounting and other business needs in one software solution. Odoo was d... Read more

3 recommendations

Popular General Ledger Software Comparisons

Buyer's Guide

Last Updated: July 8, 2020

The general ledger is a core financial tool for any business, as it contains all accounts for a company’s assets, revenue, equity and expenses. The importance of a well-kept general ledger cannot be overstated.

Because of this, a general ledger is a key feature of any accounting software solution. However, due to regulations and standards placed on company’s financial practices and the large and ever-evolving landscape of software, it can be challenging to find the accounting suite that delivers the results you need.

This buyer’s guide is designed to help alleviate any potential frustration and aid you in your search for a system that will help keep your general ledger balanced and organized.

We’ll cover the following topics:

What Is General Ledger Software?
Features of General Ledger Solutions
Trends of Small Business Accounting Software Buyers
General Ledger Systems Pricing and Deployment

What Is General Ledger Software?

A general ledger is a core feature of most accounting software, and serves as a repository for all financial data from other subledgers and modules, such as:

  • Accounts receivable
  • Accounts payable
  • Project accounting
  • Cash management
  • Purchasing
  • Fixed assets

Organizations, such as law firms or nonprofits, must keep separate ledgers for each client or account to comply with regulations. These will have to be reconciled monthly to ensure accounts match between the bank and the organization.

The general ledger is also the place where users can derive important reports, such as income statements and reports on overall financial health.

In many modern accounting systems, the general ledger contains the data that fuels a graphical dashboard, showing users the top key performance indicators (KPIs), such as profits, total revenue and expenses and revenues for individual business units, in charts and graphs. This is all the more reason the software you choose should have easy-to-use and accurate general ledger functionality.

General ledger software data used to create customized dashboards

The customized dashboard view of Intacct

Features of General Ledger Solutions

The general ledger is a functional area of a larger accounting suite, and many features assist with the daily tasks associated with the ledger. Here are some common ones:

Bank reconciliation Allows companies to match the balances of records in the general ledger to bank accounts to identify any discrepancies. Some accounting systems can automatically import and export changes to the numbers, such as credit card transactions, to save time.
Tax preparation Depending on the state and federal regulations you are subject to, accounting software vendors stay up-to-date and ensure compliance by updating tax law details in the system.
Customizations Accounting software vendors serve a wide range of industries, so most offer highly customizable systems to ensure each client has the functionality they need. In addition, most systems can integrate with other software, so all your company’s financial data can flow seamlessly from module to module.
Reporting and dashboards Any data used to generate reports or populate KPI dashboards will pull from the general ledger. It’s important to keep the ledger accurate and up to date so that the information you use in reports and dashboards reflect the true financial standing.
Mobile applications When emergency situations occur, mobile apps give users the ability to perform most tasks with a smartphone or tablet anywhere. Mobile users can send invoices, reconcile accounts, log expenses and more. Many apps also take advantage of native mobile device hardware, such as a camera, to capture paper receipts, for example.

Trends Among Small Business Accounting Software Buyers

Software Advice is in contact with hundreds of small business software buyers each day, so we gain unique insight into their preferences. In a 2016 survey about accounting software, buyers revealed the most important features to them:

  • Ninety-seven percent of buyers request a system with accounts payable, accounts receivable and general ledger
  • Three percent request a system with accounts payable and general ledger

Therefore, we can say that 100 percent of accounting software buyers want the functionality of a general ledger system.

This highlights the importance of choosing a system with the ledger capabilities you need. The survey went on to uncover the other top accounting features:

Top-Requested Accounting Software Functionality

Top-Requested Accounting Software Functionality

Financial reporting led the results for features that aren’t included in core accounting capabilities with 82 percent; this is a leap from 56 percent in 2015, and a sign that the general ledger is critical to several other functions in an accounting system.

General Ledger Systems Pricing and Deployment

Accounting software, like many other types of systems, is commonly offered in two ways:

  • As a perpetual license. Users pay an upfront cost for the right to use the software forever. Usually, buyers will also pay fees for ongoing support and software updates.
  •  
  • As a monthly subscription. Users pay a monthly subscription fee based on the number of users, features included or other factors. This may also include an additional upfront, one-time cost.

Costs for software will increase as features or add-on modules are integrated into the system, and vendors are often able to customize a set of features into a package that works for a specific industry or business.

Secondly, the system can be deployed in a of couple ways:

  • Hosted or on-premise means the software is downloaded to the computers at your business, and all the data on that system is local. Some users prefer this model to keep their data close by.
  •  
  • Cloud or web-based typically means the software is accessible via a web browser, anywhere the user needs it. In the overall software industry, there is a movement toward cloud-based systems, as their flexibility is a significant benefit for many types of companies.

In a recent survey, Software Advice asked small businesses about their confidence in cloud-based accounting systems. The results showed that while about 43 percent used on-premise software in 2014, the following year, the number of cloud software users nearly doubled, with an increase from 16 to 30 percent.

The notion that cloud-based software is less secure than on-premise is changing, and 28 percent of respondents from the same survey cite increased safety and security as a top benefit.