We've helped thousands of companies choose the right financial reporting software so they can collect data and track trends that impact business goals. How does it work?

Financial Reporting Software


Sort by:
 
Sort by:
 
Cougar Mountain DENALI logo
 
Cougar Mountain Software offers a business accounting software for manufacturing, nonprofits and public services organizations. Their flagship product Denali is a core accounting solution with applications for general ledger, accounts... Read More
Rating:            (53)
Rating:
        (53)
Price:
Advisor Recommendations:
63
Platforms:
Deployment:
Business Size:
S
M
L
Cougar Mountain Software offers a business accounting software for manufacturing, nonprofits and public services organizations. Their flagship product Denali is a core accounting solution with applications for general ledger, accounts... Read More
 
Multiview logo
 
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 modules that... Read More
Rating:            (5)
Rating:
       (5)
Price:
Advisor Recommendations:
58
Platforms:
Deployment:
Business Size:
S
M
L
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 modules that... Read More
 
NetSuite logo
 
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 range... Read More
Rating:            (63)
Rating:
         (63)
Price:
Advisor Recommendations:
55
Platforms:
Deployment:
Business Size:
S
M
L
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 range... Read More
 
Sage Live logo
 
Sage Live is a cloud-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
Rating:           (4)
Rating:
        (4)
Price:
Advisor Recommendations:
52
Platforms:
Deployment:
Business Size:
S
M
L
Sage Live is a cloud-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
 
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
Rating:            (132)
Rating:
        (132)
Price:
Advisor Recommendations:
31
Platforms:
Deployment:
Business Size:
S
M
L
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

Call us for a free FastStart Consultation: +64 4 488 7035


 
Budget Maestro logo
 
Budget Maestro by Centage offers financial institutes a comprehensive accounting solution with budgeting, forecasting, consolidation and reporting capabilities. Budget Maestro is suitable for a host of industries, including manufacturing,... Read More
Rating:            (28)
Rating:
        (28)
Price:
Advisor Recommendations:
29
Platforms:
Deployment:
Business Size:
S
M
L
Budget Maestro by Centage offers financial institutes a comprehensive accounting solution with budgeting, forecasting, consolidation and reporting capabilities. Budget Maestro is suitable for a host of industries, including manufacturing,... Read More
 
AccuFund Accounting Suite logo
 
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 funding... Read More
Rating:            (13)
Rating:
        (13)
Price:
Advisor Recommendations:
22
Platforms:
Deployment:
Business Size:
S
M
L
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 funding... Read More
 
Abila MIP Fund Accounting logo
 
Abila MIP Fund Accounting from ProSoft Solutions is a finance management and fund accounting solution designed to serve nonprofits and government agencies. The solution can be deployed on-premise, in the cloud or be self-hosted. Abila... Read More
Rating:            (38)
Rating:
        (38)
Price:
Advisor Recommendations:
20
Platforms:
Deployment:
Business Size:
S
M
L
Abila MIP Fund Accounting from ProSoft Solutions is a finance management and fund accounting solution designed to serve nonprofits and government agencies. The solution can be deployed on-premise, in the cloud or be self-hosted. Abila... 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
Rating:            (9)
Rating:
        (9)
Price:
Advisor Recommendations:
20
Platforms:
Deployment:
Business Size:
S
M
L
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
 
Deskera logo
 
Deskera is an enterprise resource planning software formulated to run manufacturing operations. The system is suitable for companies manufacturing for a variety of industries. Textiles, automotive, distribution, metal processing, pharmaceuticals,... Read More
Rating:            (8)
Rating:
        (8)
Price:
Advisor Recommendations:
19
Platforms:
Deployment:
Business Size:
S
M
L
Deskera is an enterprise resource planning software formulated to run manufacturing operations. The system is suitable for companies manufacturing for a variety of industries. Textiles, automotive, distribution, metal processing, pharmaceuticals,... Read More

Call us for a free FastStart Consultation: +64 4 488 7035


 
Sage Intacct logo
 
Sage Intacct is a provider of cloud-based accounting software. Sage Intacct’s applications are suitable for small and midsize companies and can provide real-time financial and operational insights as well as the ability to automate... Read More
Rating:            (141)
Rating:
        (141)
Price:
Advisor Recommendations:
18
Platforms:
Deployment:
Business Size:
S
M
L
Sage Intacct is a provider of cloud-based accounting software. Sage Intacct’s applications are suitable for small and midsize companies and can provide real-time financial and operational insights as well as the ability to automate... Read More
 
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
Rating:            (18)
Rating:
        (18)
Price:
Advisor Recommendations:
17
Platforms:
Deployment:
Business Size:
S
M
L
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
 
Financial Edge by Blackbaud logo
 
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 general... Read More
Rating:            (66)
Rating:
        (66)
Price:
Advisor Recommendations:
16
Platforms:
Deployment:
Business Size:
S
M
L
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 general... 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
Rating:            (1)
Rating:
        (1)
Price:
Advisor Recommendations:
14
Platforms:
Deployment:
Business Size:
S
M
L
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
 
A3 Modeling logo
 
A3 Modeling is a cloud-based solution that offers enterprise class budgeting, forecasting, financial reporting and executive dashboards. The solution couples Excel with a backend database for data management. It is suitable for companies... Read More
Rating:            (2)
Rating:
       (2)
Price:
Advisor Recommendations:
13
Platforms:
Deployment:
Business Size:
S
M
L
A3 Modeling is a cloud-based solution that offers enterprise class budgeting, forecasting, financial reporting and executive dashboards. The solution couples Excel with a backend database for data management. It is suitable for companies... Read More

Call us for a free FastStart Consultation: +64 4 488 7035


 
Dynac logo
 
Dynac is a scalable on-premise Accounting and Corporate Performance Management solution that focuses on budgeting, forecasting, and financial reporting. It can be utilized across a wide variety of industries including agriculture,... Read More
Rating: No reviews
Rating:
No reviews
Price:
Advisor Recommendations:
10
Platforms:
Deployment:
Business Size:
S
M
L
Dynac is a scalable on-premise Accounting and Corporate Performance Management solution that focuses on budgeting, forecasting, and financial reporting. It can be utilized across a wide variety of industries including agriculture,... Read More
 
Acumatica ERP logo
 
Acumatica ERP delivers an adaptable cloud and mobile-based enterprise resource planning solution with a user licensing model which enables a real-time view of business operations at any time from anywhere. Through a worldwide network... Read More
Rating:            (10)
Rating:
        (10)
Price:
Advisor Recommendations:
10
Platforms:
Deployment:
Business Size:
S
M
L
Acumatica ERP delivers an adaptable cloud and mobile-based enterprise resource planning solution with a user licensing model which enables a real-time view of business operations at any time from anywhere. Through a worldwide network... Read More
 
BOARD logo
 
Created to combine business intelligence, corporate performance management, and business analytics, BOARD is a full-featured business intelligence system that serves midsize and enterprise-level companies in a variety of different... Read More
Rating:            (55)
Rating:
        (55)
Price:
Advisor Recommendations:
9
Platforms:
Deployment:
Business Size:
S
M
L
Created to combine business intelligence, corporate performance management, and business analytics, BOARD is a full-featured business intelligence system that serves midsize and enterprise-level companies in a variety of different... Read More
 
Activity HD logo
 
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. Activity... Read More
Rating:            (25)
Rating:
       (25)
Price:
Advisor Recommendations:
7
Platforms:
Deployment:
Business Size:
S
M
L
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. Activity... Read More
 
VersAccounts Small Business Cloud ERP logo
 
VersAccounts is a web-based accounting and enterprise resource planning (ERP) system designed for growing small and midsized businesses looking to gain real-time financial and operational insights. This Cloud 2.0 system enables businesses... Read More
Rating:            (8)
Rating:
        (8)
Price:
Advisor Recommendations:
5
Platforms:
Deployment:
Business Size:
S
M
L
VersAccounts is a web-based accounting and enterprise resource planning (ERP) system designed for growing small and midsized businesses looking to gain real-time financial and operational insights. This Cloud 2.0 system enables businesses... Read More

View More Products
 

Buyer's Guide

by Eileen O'Loughlin,
Market Research Associate
Last Updated: September 1, 2017


Financial reporting software helps businesses automate the collection of financial data and more accurately track trends that impact business goals. Financial reports provide business owners greater visibility and insight into the workings of their business, including:

  • Financial history
  • Adherence to tax laws
  • Compliance with SEC standards (e.g., Form 10-K and Form 10-Q)
  • Business travel and expenses
  • Employee and department productivity
  • Return on investment (ROI) for business ventures

Despite these advantages, roughly 30 percent of the accounting software buyers that contact Software Advice are not using a financial reporting system. This puts them at a greater risk for bad investments and possible violations of various federal and state tax laws.

Whether you’re looking to invest in financial reporting software for the first time or looking to upgrade your current system to better align with your business or industry needs, this guide can help you make a more informed purchase decision.

Here’s what we’ll cover:

What Is Financial Reporting Software?
Features to Look for in a Financial Reporting System
Key Purchase Considerations
What Type of Buyer Are You?

What Is Financial Reporting Software?

Financial reporting is a critical function of business accounting. Reports provide decision makers with a snapshot of current financial standing and given enough time, can offer insights into trends that affect profitability.

Reports also play an integral role in tax planning and preparation. Due to various federal, state and local tax laws, accurate financial reporting is key to remaining compliant and fiscally responsible. As such, financial reports help business owners reduce tax liability and make smart investment decisions.

Given the impact that financial reports have on the success or failure of a business, it’s no surprise that financial reporting is the number one capability requested by accounting software buyers who contacted Software Advice in 2015 and 2016:

Top-Requested Accounting Software Capabilities: 2015 and 2016

Top-Requested Accounting Software Capabilities: 2015 and 2016

 

The following are three financial reports common across industries that you should make sure your financial reporting system supports:

  • Balance sheet. Also called the statement of financial position, the balance sheet represents the exact financial standing of an entity on any given date. It contains information on a business’s assets, liabilities and equity.
  •  
  • Profit and loss (P&L). Also known as the income statement, the P&L shows the company’s financial performance (net profit or loss) over a specified period of time. It contains information on a business’s revenues, costs and expenses.
  •  
  • Cash flow statement. The cash flow statement indicates the movement in cash and cash equivalents (bank accounts, government bonds etc.) entering and leaving a company during a specified period of time. The movement in cash flows is broken down into three categories: operating activities, investing activities and financing activities.

Additional financial reports that you may or may not require based on your business or industry needs include sales tax return, fixed asset depreciation, accounts aging and expense reporting.

Features to Look for in a Financial Reporting System

Of course, the single most important function of a financial reporting tool will be to report on important financial and performance metrics, i.e., balance sheet, P&L and cash flows. However, there are several other features you should consider as you evaluate systems. These include:

Dashboards Capture data on business and financial health and collate that information in an easy-to-scan display. Configure dashboards to summarize information for a specific audience, e.g., business owner or accountant.
Data export Financial reports help track business performance and increase transparency with decision makers, investors and regulatory agencies. As such, it’s important that data from dashboards and reports can be exported to CSV or PDF files to be easily shared with these parties.
Customization Create custom fields, views and formatting to track the information most important to your business. Look for the ability to drag-and-drop to change formatting and layout options, group data together in different ways and drill down into data for a detailed analysis.
Integration with other tools Ensure seamless transfer of data between applications. This is especially important if your business outsources payroll or has industry-specific requirements, such as inventory tracking or fixed asset depreciation.
Multi-user access Shared reports with accountants/bookkeepers can streamline tax preparation and filing. Ensure systems have tracked changes for accountability and accuracy.

Key Purchase Considerations

Depending on your business and industry needs, you may require additional report options not listed above. As such, when evaluating financial reporting software, keep the following criteria in mind:

Industry needs. For example, nonprofits and government agencies often require a fund accounting module to keep track of funds and report on spending associated with each grant and/or donation they’ve received. Whereas, a manufacturing company might require reporting on the depreciation of fixed assets.

It’s also important to verify whether your industry has specific tax laws or SEC requirements that dictate financial reporting compliance.

Deployment options. Financial reporting software is available in both on-premise and cloud-based systems. Typically, the up-front costs associated with cloud-based software are much lower than with on-premise; however, costs for these deployment options eventually converge, for the most part. You can use our Total Cost of Ownership calculator to analyze the short-term versus long-term cost differences between on-premise and cloud-based systems.

Don’t let security concerns bar you from choosing a cloud-based option, either. In a 2015 report on consumer confidence with cloud-based accounting, 28 percent of users surveyed reported that moving their accounting to the cloud actually increased the security of their financial data.

What Type of Buyer Are You?

Small business. Most small businesses are well-served by purchasing financial reporting software in-suite, as one application included in a larger accounting platform. This helps ensure that financial reporting is fully integrated with other key accounting processes, such as budgeting and forecasting, payroll and billing and invoicing. Examples of this type of system include Xero and QuickBooks Online.

Financial reporting in QuickBooks Online

Company snapshot in QuickBooks Online

Midsize and growing businesses. In our recent investigation into accounting software buyer trends, we found that nearly 60 percent of buyers are looking to replace their existing accounting platform for a more advanced solution. We also found that financial reporting was the top-requested feature, leading us to believe that some buyers may be looking to upgrade this specific functionality.

As such, organizations that outgrow the reporting capabilities offered by basic accounting solutions might consider supplementing their existing system with a stand-alone financial reporting software, such as Adaptive Insights. This could help curb the costs of an entire accounting system upgrade while meeting more advanced reporting needs.

However, buyers that require a greater depth of functionality and accounting regulations across the entire platform would be better suited investing in a financial reporting system rooted in a larger financial management platform, such as NetSuite or Intacct.

Free Download:
Accounting Software Pricing Guide

Free Download:
Ten Steps Guide to Selecting the Right Accounting Software

 

How it Works

We match organizations with software that meets their needs.

Our service is simple and 100% free to customers like you because software vendors pay us when we connect them with quality leads. You save time and get great advice. Vendors get great referrals. It's a win for everyone!

Call now for advice: +64 4 488 7035
Software Advice Advisors
×
-1
-1
-1
-1
-1
-1
-1
-1
-1
-1