Different Types of Accounting Software
This article shares some insights about the different types of software that make accounting easy and error free. Have a look…
Accounting is something something every organization does, whether small or large. Previously people used to use accounting books and files where the financial transactions were maintained manually. But today, a lot of companies use varied programs according to their needs and requirements. Not only companies and entrepreneurs, but individuals can also use different accounting programs for personal use. Some of the software is also very flexible and can offer a variety of applications that can adapt the workflow and when needs arise. They can help increase compliance, increase staff productivity, improve date accuracy, and reduce errors. All this results in increased profits and higher revenue.
Different Accounting Software Packages
There are various programs designed to meet the different needs of different companies and practices. You can also go for custom software that is compatible with your business process. The various programs are characterized by their programs that are suitable and apt for a particular industry, organization, or individual.
Accounting software for personal use
This type of private program is intended for home use. You can have such software downloaded on your computer or laptop that can help you manage your house budget and finances. Those participating in such a program are sufficient and simple and are intended to meet all the basic accounting requirements such as budget planners, accounting spreadsheets, charts, accounting, automate upgrades and wealth monitor etc.
Accounting program for small businesses
This type of software is also known as low end accounting software. As the name suggests, it meets the needs of accounting small businesses, eg generates invoices, financial reporting, e-commerce, merging accounts and managing payrolls, etc. Some of the best small business accounting programs have moderate amount of applications that are flexible and convertible.
Big business accounting software
These programs are also known as high-end accounting software. They are generally used in large companies operating in several states or countries. The biggest advantage of high-end software is that they allow large networks and have ‘n’ number of applications that can be accessed from anywhere. These programs are very complicated and extremely flexible in terms of wider use, and thus they are very expensive as well.
Apart from this, there are other accounting programs, such as mid-range accounting software, vertical market software, hybrid software solutions, etc., that you can install if it suits your business type.
List of accounting programs
There are many companies that manufacture different types of accounting software. Listed below is a list of programs that are equipped with different applications:
Low-end accounting software Vision Point 2000
SPCS Pro 2002
Peachtree Complete Accounting 2004
MYOB Plus for Windows
Business Vision 32
Small Business Manager
Oracle Small Business Suit
Quick Books for the Web
MAS 90 and MAS 200
ACCPAC Pro Series
Mid-End accounting program ACCPAC Advantage Series Corporate Edition
SouthWare Excellent Series
High-End accounting software Axapta
SAP R / 3
It is wise to purchase a standard software from an authentic dealer.