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The Best Accounting Software for Small to Medium Scale Businesses -2015

Updated on August 14, 2015
pixabay.com by PublicDomainPictures
pixabay.com by PublicDomainPictures

Overview

It is oftentimes hard to find an accounting software for small to medium size scale businesse today Keeping the books involves tons of paper work for keeping the ledgers, journals, book of accounts, and a host of other documents; including sharpened pencils, to help you keep the financial records up to date.

In the technological revolution that took place in the last decade, there was a proliferation of accounting software products that were geared towards small to medium scale businesses. The used of accounting software helps reduce human error and can generate financial documents with speed and accuracy. It makes decision making relevant and fast too.

To find the best accounting software can be taxing and expensive. More so, if you are just a newly starting business with not much financial muscle. There are many products to choose from and there is need to know the requirements of your business to help you assess the products that are available in the market today.

Choosing the right accounting software can sometimes make the difference between profitability and losing money. It is sometimes necessary to first keep stock on what your company needs before you need to talk to qualified sellers. Knowing your specific needs can help identify the product that would be best for you and at the same time would not hurt the pockets.


Checkbook Register

Source

Choices of Accounting Software in the Market

The last several years saw the proliferation of accounting software products which are geared towards small and medium sized businesses --- grew in leaps and bounds.

There are many products with which to choose from, depending on one's needs and requirements. The choices would range from: payroll and bookkeeping packages, full-service business programs, online Web-hosting applications, and free accounting programs.

Herewith are some of the best accounting software for small to medium size businesses that you can choose from:


pixabay.com by PublicDomanPictures
pixabay.com by PublicDomanPictures


Payroll and Bookkeeping

There are several accounting software programs that you can buy either off the shelf or via the internet. Among the top sellers would include the best-selling QuickBooks by Intuit, that is available in several editions --- with add-on features like a cash-flow calculator.

Other choices would include the easy to learn and formatted Simply Accounting by Sage software. Other product lines include Peachtree Complete Accounting software, that can be used by one to forty users.

It has targeted-specific modules for certain types of businesses --- construction companies, distribution outlets, and manufacturing firms. Other choices include Cougar Mountain Software, MYOB Accounting, among many others.

New Accounting Software FAQ's

Benefits
Areas of Concern
Cost Component
Better cash flows
Functionability
Complexity of installation
Accurate financial reports
Future migration
Upgrade cost
Better business decisions
Licensing arrangements
Billing system
computerized spreadsheet
computerized spreadsheet | Source
handwritten spreadsheet
handwritten spreadsheet | Source

Why do you need to buy a new Accounting Software?

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Full Service Business Programs

These are accounting programs that include advance financial functions like --- point of sale analysis, inventory tracking, customer relationship management (CRM), billing systems, purchasing features, and enterprise resource management (ERP). Some of the more popular choices may include the Everest's Business Management Software and NetSuite.

Accounting Software for Small to Medium Scale Businesses

Online Web-Hosting Applications

Among the major developments in the last decade are a new breed of accounting software programs that makes use of the internet as its platform.

With the recent popularity in the use of cloud servers, accounting software applications have been launched to answer the needs of the more sophisticated users.

Intuit launched an online program calledQuickbooks Online; Peachtreealso came up with its new online version.

Nonetheless, some sellers only offer online accounting softwares – Netsuite and Netbook among many others.

Accounting Graphs

Source

Free accounting software programs

A number of businesses are skeptical of free programs that they can use for their accounting needs.

Nevertheless, some of these software lets you do a variety of things --- create invoices for different clients, print bank checks, computes and prepare payroll, and managing of up to 20 clients.

There are many free bookkeeping tools that you can avail of online. The best so far, have been QuickBooks, since it enables you to reconfigure and migrate into the paid version ---- if your company’s volume expands later on.

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    • csmiravite-blogs profile image
      Author

      Consolacion Miravite 2 years ago from Philippines

      MYOB is one of the more popular ones as it is easy to use and understand. Thanks for dropping by!

    • peachpurple profile image

      peachy 2 years ago from Home Sweet Home

      Thanks for your review, i prefer myob, mind your own business, its accounting software not an insult