Accounting softwares were one of the first applications to come up in offices along with the advent of Software and Hardware. The reason being moneys are the first of our concerns when we think of control. The leaders of accounting software like Quickbooks, Peachtree, MYOB are still around and doing well with varying degrees of success.
Typically, an Accounting Software is developed using a Database, a Front End RAD tool visual basic
and a Report Writer such as crystal reports. For how to develop your own accounting software click here. Accounting softwares can be for the desktop, network (client server) and web. For developing a web accounting application or software you will need a web development tool like ASP.Net. Many Accounting softwares have been developed using C and C++. Accounting softwares developed using these tools provide great speed and usability, but, to upgrade them to multi user large database environments is mostly unsuccessful as the overhead begins to climb nullifying the benefit of lean code which the C++ tools provide.
A well designed Accounting Software caters to multiple domains. So, a well designed accounting software can, in theory, meet the needs of multiple types of firms. However, in practice a certain amount back bending is required to use a Generic Accounting Software in a construction or church or call center or fund management environment.
Here the versatility of the software boils down to the design of the Chart of Accounts which can accommodate a wide range of accounting requirements.
For most small businesses, a generic accounting software will be sufficient unless their needs are very specific. However, with the cost of software and hardware on a downward spiral combined with the high speed and processing power, the small business too can think of highly customized software incorporating their own design and commercial requirements.
Small Business Accounting Software
A small business accounting software has to meet the requirements of many basic requirements of businesses like, recording of a purchase, sale, payment, receipts, credit note, debit note etc. To implement these features, an accounting software has to have been designed with all requirements in view. At the time of design, the financial statements which are to be generated have to be prepared and taken into consideration before going ahead.
Additionally, todays Accounting Software should include on the fly data entry, datagrids, dropdown lists, listboxes, and help.
Free Accounting Software - Download
Free accounting software are available all over the internet. Many so called authoritative sites about Accounting Softwares have collected trial versions from vendors, whose main purpose is to collect email ids at the time of installation and keep sending newsletters or updates. However, if you are a beginner you can simply learn a few things by using these softwares. Click here for free accounting software downloads:
Construction accounting software
A construction firm requirements are different as they come. A good construction software will include modules for General Construction, Materials, Highway, Mechanical and other areas like sewer, oil pipelines etc. Audit trail, closing of books, job costing, general ledger, over/under billing, overhead allocation, construction-specific payroll features, union reporting, certified Payroll reporting, payables and receivables. Many of the construction projects are executed on site. This necessitates special features like remote access, updation, and retrieval of data.
A construction order is an ongoing project in stages and is usually executed on receipt of payments for each stage. A good construction management software should be able to add new sub contractor in the middle of a project being executed and maintain sub-contracts by job and sub-contract number. Generating and printing the sub-ledger, which includes not only invoices but also change orders, holdback amounts, amounts payable, and actual contract information for each sub-contractor. A good construction management software can record all costs related to a particular job or order and thus enable closer accounting control.
Querying features include inquiry by PO status, payment status, order status, job status, and material receipt or dispatch status. Managing the sub contractors is a major requirement in any construction project and today most construction management software include features to closely manage them. Inventory control software is sold as a separate software. However, a construction software should include inventory control with features to track material flow to different projects, and their status.
Project monitoring features like tracking actual cost vs budgeted cost, materialwise, jobwise, projectwise, are standard.
Day Care Accounting Software
A day care accounting software is a simple software which tracks each family´s balance and shows the child care billing history of registration fees, tuition charges, family discounts and payments.
Child care billing for subsidized families may be easily divided between family co-payments and government agencies and can even handle divorced parent situations. Recording of late payment fees and print balance due notices to all families who are past due. A good day care software retrieves family, child and immunization information from the database in a report format. You can also manage tuition charges, customer balances payments and financial reporting. Nowadays, all software allow recording electronically transfer funds without the use of cash or paper checks.
Integrating a Calendar into an accounting software is a common feature. Managing different daycare and school age programs are standard features. Fitting these schedules for each child is also common. Almost all software implement plan schedules for the school year, calendar year, summer, or just one week or month at a time.
A few good child care software allow child check in on a hand held pocket PC too. The hand held pocket PC also enables easy access to emergency phone numbers and email ids.
Another common feature of day care software is to allow importing of photographs of students, parents, and authorized pick up persons.
Payroll accounting software
A payroll accounting software records the salaries of employees working in an organization and enables prompt payment ensuring a certain fairness as all are paid in a particular time frame.
A payroll accounting software starts with generating the pay slips. To generate a pay slip the software should be able to record attendance, record employee details, pay details, leave details, grading, and incentive details if any. Based on this, the software should be able to generate monthly and yearly provident fund, month and yearly professional tax, ESI etc, tax returns, salary certificate, gratuity valuation, bank statement, leave encashment valuation, MIS reports, increment details and deductions.
Payroll forms a part of HR. If an HR feature is provided, it should ideally be able to monitor the employees work performance, help the management in identifying the areas where each employee can improve and thus assist in organizing training programs, selecting the areas of training, durations, results of the training and on the whole help in improving the organizations functioning.
Church accounting software
Church groups, counseling, data entry, decisions, library, mail merge, ministry groups, outreach, Sunday school, visitors, youth music, budgeting, check register, contributions, employment, fund accounting and pledges.
Top Ten Accounting Software
QuickBooks is one of the earliest accounting software to appear in the market. It has managed to hold on to its position, since then. It is ideally suited for managing small business accounting and finances. With the advent of Internet, makers of Quickbooks have been quick to enable on-line features like accessing all business accounting information. It also claims to work on any operating system you prefer. Standard features like Print checks, pay bills & track sales & expenses, create estimates & invoices, Tools for payroll & tracking employee time, Track inventory and set reorder points, Manage customers, vendors & suppliers Track Income & Expenses are included. Credit card acceptance is also included.
Cash Flow management is one of the strong points of Quickbooks. Cash flow management is the also the key to ensuring smooth functioning of an organization. Quickbooks lets you create a forecast based on past performance and future variables. This can be used to manage the company better. Quickbooks also lets you track inventory for hundreds of products thereby serving serving as a top class small business accounting and inventory software.
STFB Inc. develops and markets - Integral Accounting Enterprise, a complete accounting & ERP system with source code and distribution rights. Based on ASP.Net, Visual Basic.Net
based platforms. Integral Accounting Enterprise is perfect for developers, Consultants, Resellers (VARS) looking for accounting packages to customize and resell to end-users.
Includes all the standard features like General ledger, inventory control, AR/AP, ordering, purchasing, payroll, help desk, shopping cart, and reports. Based on a multi-tier design which enables the programmer to separate the different layers of the application. Multi-tier design separates the Interface (Presentation Layer) from the Business Logic and the Database Layer, so the system can be easily adapted to environments or scaled across multiple systems. IAE supposedly includes a shopping cart module that is fully integrated with the inventory, ordering, accounts receivable and customer modules. Priced at $9999.99 IAE is a an expensive product.
IAE includes all of the basic accounting system functionality like, purchase, sale, payments, receipts, check, cash etc. IAE includes complete source code for every part of the system, all of the tiers to the system and the stored procedures. Some highlights of the package are adding fields, web services, add or modify any part of the system that you like, not just the front-end forms.
SAP Business One
SAP has 18000 + installations around the world. SAP Business One 2005, is supposed to be easier, of better quality and supportability. Delivered through SAP global network of authorized channel partners, SAP Business One is targeted at the small and midsize companies. An affordable business management solution (really) designed for SMEs typically with 10 to 100 employees, SAP Business One is available in more than 40 country versions, used by more than 10,000 customers and delivered by a network of 1,200 partners who specialize in selling, implementing and maintaining the solution.
The Oracle E-Business Suite, Financials, family of applications automates and streamlines all your financial business processes, for enterprise-wide daily business intelligence that lets you make more informed decisions, improve operations, and reduce costs. An highlight of this package is the unified data model which provides a single accurate view of all your financial information, including a 360-degree view of your customers. And Oracle Financials, running on Oracle technology, gives you industry-leading performance and scalability.
Oracle Financials is part of the Oracle E-Business Suite, integrating with other E-Business Suite applications including Oracle Marketing and Oracle Supply Chain Management. Implement one or several application families or implement the complete Oracle E-Business Suite for the fastest way to high-quality enterprise information.
Activity Based Management Advanced Collections Assets Balanced Scorecard Bill Presentment Architecture Cash Management Daily Business Intelligence for Financials Enterprise Planning and Budgeting Financial Analyzer Financial Consolidation Hub General Ledger iAssets
Top Ten Accounting Software Training Resources
Siemens, Hyderabad, India is a popular destination for those undergoing training in SAP. They are popular with reference to FICO the financial module of SAP. Training charges are high but, they are known to provide high quality training. Studuents are provided extensive hands on training. The setup and facilities make it easier to write the FICO exam. A FICO certification is a must for industry recognition.
Headquartered in Singapore, Genovate has offices in Singapore, Indonesia, Malaysia, Sri Lanka and India. Genovate is an authorized training partner for SAP, IBM, Microsoft and Trend Micro. Students can any of the following courses, mySAP Financials (FICO), mySAP Human Resources (HR), mySAP Supply Chain Management ¯ Order Fulfillment (SD), mySAP Supply Chain Management ¯ Procurement (MM), mySAP Supply Chain Management - Planning (PP), mySAP Product Lifecycle Management ¯ Project Management (PS)
mySAP Product Lifecycle Management - Plant Maintenance (PM), mySAP Product Lifecycle Management - Quality Management (QM) and mySAP Retail.
C & T Accounting Software
Operating out of Hong Kong, C & T Accounting teaches almost all the products out there in the market, like, Accpac, Peachtree, QuickBooks, DacEasy, MYOB, Simply Accounting Pro and Quicken. They provide both onsite and classroom training. By using a live case study, C & T hopes to train each participant professionally. All the main functions of the software are sought to be taught. Staring from bookkeeping to entering of records are taught. Their site claims that individual training is their focus. Their area of operatin covers hong kong and macau. C & T can laise with your professional accountants and design your customized training program. Advice on Accounting Software Accountancy Software Comparison. Qualified accountants from C & T can advise which accountancy software will most cost effectively meet your needs. You may attend our course Accountancy Software Comparison, or we can provide individual consultancy on request.
Understanding Double Entry Book keeping and integrate with the accounting software. For those who will actually need to do the bookkeeping or supervise a bookkeeper Understanding Accounting software, for those that have to look at other companies accounts or wish to understand their own company's accounts.
By Bharati Karedla