Accounting

Accounting Software, in general, should have the basic accounting functionalities to record and process a company’s financial information. The basic functionalities which should be in accounting software are: accounts payable, accounts receivable, ledger, billing, inventory management (mostly for retail), PO, order management and book keeping. Accounting software can also be a part of an ERP suite.  It can also have the following features which are optional (can be used as a standalone application) for accounting software:

  • Expense Management
  • Payroll Management
  • Timesheet Tracking
  • Advanced Reporting (Powered by Analytics)
  • Reconciliation Features
  • Integration with Banks to collect data from feeds

The current accounting market can be segmented by the following markets based on the size of companies:

  • Accounting Software for Startups / Freelancers / Personal Use
    Many free and low cost accounting software available to satisfy the need of this market. Usually these software will have the basic functionalities to meet the need of this segment.
  • Accounting Software for SMB’s
    Most of the vendors targeting this segment provides affordable software with all the required functionalities. They should also have the functionality to handle multiple currencies. They should also offer integration with many 3rd party applications.
  • Accounting Software for Enterprise
    The requirement of the enterprise companies will be unique and the vendors targeting this segment should have excellent customization functionality. The implementation time to rollout the software to the entire organization usually takes from 4 months to 1 year depend on the complexity of the customization requirements. The application should support multi-user and multi-currency. They may also need huge integration with their legacy systems and other 3rd party applications.
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QuickBooks Online.png
Easy Online Accounting to Organize Your Finances in One Place. Run your entire business with the #1 small business cloud accounting solution!
 
4.3 (27)
UAT Score : 83
 
intacct.png
Intacct is 100% invested in meeting the needs of financial professionals, 100% focused on customer success, and 100% committed to the cloud. That’s who we are, and always will...
 
4.7 (26)
UAT Score : 83
 
FinancialForce Accounting.png
FinancialForce Accounting is a fully featured and innovative financial management system that takes a fresh approach to keeping track of the numbers. This cloud accounting application is built on...
 
4.3 (15)
UAT Score : 79
 
xero.png
Xero provides beautiful, easy to use online accounting software for small businesses and their advisors. It lives in the cloud so it’s accessible on any internet-connected computer or mobile...
 
4.8 (14)
UAT Score : 82
 
godaddy-bookkeeping.png
GoDaddy makes bookkeeping simple. Everything is organized and in one place, without hours of data entry or tracking down receipts.
 
4.7 (8)
UAT Score : 76
 
Zoho Books.png
Zoho Books is the cloud accounting platform for growing businesses today.It streamlines business transactions, tracks income and expenses, automates business processes, connects with systems like CRM, Inventory, Subscription tools...
 
4.8 (5)
UAT Score : 82
 
Epicor Financial Management.png
Epicor financial management is designed to automate and streamline your financial processes with tools and controls to support complex legislative requirements and create value through timely financial monitoring. ...
 
4.2 (3)
UAT Score : 71
 
AccountEdge Pro.png
AccountEdge is a complete small business desktop accounting and management solution for your Mac or Windows office, with everything you need to create and track sales and purchases, run...
 
4.3 (3)
UAT Score : 76
 
slickpie-online-accounting.png
100% Free Online Accounting Software for Small Business
 
4.8 (3)
UAT Score : 79
 
 
4.8 (2)
UAT Score : 70
 
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