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Accounting Software

There’s an insane quantity of accounting software products on the market today. Specially designed systems are available for nearly any permutation of organization size, and industry you can think of. From QuickBooks, to Sage 300, to industry specific options, and everything in between, this guide will cover everything you should care about when reviewing accounting systems.

Overwhelmed? We’ll help you find your ideal software solution, absolutely free!

Find out why thousands of businesses trust Software Connect to help narrow down thousands of options to a managable list of top recommendations. There’s no pressure, no obligation, and no cost. Sound good? Let’s get started!

The companies and representatives you sent our way were prompt and thorough… I definitely would recommend your company as a means to exploring options with qualified providers. — Bruce Conley
Your service saved me some very valuable time and hooked me up with some excellent resources. Thanks for providing this top-notch service. — Linda Vittori
Thanks! Having a service like this to help navigate the ocean of accounting software and help identify potential good-fits without having to delve through numerous bad-fits is of tremendous value! — Mark Carpenter

What is accounting software?

Accounting software at minimum keeps track of financial transactions. Core functionalities include general ledger (GL), accounts payable (AP), accounts receivable (AR). Common additional functionalities include payroll, billing, and inventory management.

Many industries have customized functionalities/requirements like fund accounting for nonprofits, job costing for construction firms, or DCAA compliance for government contractors. In larger organizations, the terms “accounting software” and “ERP” are often used interchangeably.

Common components

Component Description
Core accounting As mentioned above, core accounting is the heart of any accounting system. Tracks revenues and expenses. Includes AP, AR, and GL
Payroll Manages employee compensation: wage calculation, ACH deposits, check printing, and compensation tax reports
Billing & invoicing Create, send, and manage outbound invoices for client work.
Fixed asset management Track, depreciate, and amortize large company assets. With standard or custom decay models.
Inventory management Track stock info on items your company builds, buys, stores, and/or sells

Common industry components

For some industries, some of the common components above are referred by a different name. Sometimes with different functionality.

Component Common Industry Description
Fund accounting Nonprofits, government agencies Core accounting for companies that are funded by donations and/or grants. Emphasizes accountability to donor/grant requirements over profitability.
Job costing Construction, manufacturing Track costs/accounting/profitability on a job-by-job (project-by-project) basis. Often called construction, or project accounting.
DCAA compliance Government contractors Defense Contract Audit Agency (DCAA) compliance. Specific accounting standards for government contractors as required by the Department of Defense

Common advanced components

As accounting systems get more advanced, they tend to include more specialized industry components, but here’s some common advanced components for all industries

Component Description
Budgeting & Business Intelligence (BI) Reports on finances, personnel, operations, and more. “Intelligence” can range from simple reports to historical and predictive analysis.
Warehouse Management (WMS) Advanced inventory systems for warehouses. Helps improve fulfillment accuracy, shorten delivery times, reduce inventory overflow, and optimize storage space. Especially useful for organizations with multiple inventory locations (warehouses)
Currency Exchange Allows organizations to manage international cash, trade for currency of choice, and view reports in single consolidated currency value.
Bank reconciliation Imports bank records, often in real time, and attempts to auto-match bank and accounting records
Customer Relationship Management (CRM) Manages customers and prospects to aid marketing, sales, and customer service efforts

Trends

  1. Increased adoption of cloud software.
    Cloud software (software-as-a-service, SaaS) adoption rates have picked up over the past decade. With cloud-based software, products are leased, rather than licensed. Cloud software buyers typically don’t own or manage software themselves. Rather than making a single large capital expenditure, payments are spread over time.

    As companies look to reduce overhead costs, while extending functionality to distributed workforces, cloud systems have become a popular option. Broadband access is ubiquitous. Web services have become commonplace. For the average user, banking, shopping, and conducting business on the internet is second nature. The software industry has responded to these changes and is increasingly making software available on a cloud basis.

    Customer appetite for the cloud is still growing too. Every year we talk to thousands of companies. In 2015, 76% of the buyers we spoke to indicated a receptiveness have their software hosted externally, off-premise. In 2017, this percentage rose to 84%.

  2. Developer & product acquisitions.
    As markets mature, often companies will acquire, reposition, and/or consolidate their product lineups. This is especially frequent as of late. Sage’s acquisition of Intacct is a notable example.

  3. More tablet & mobile applications.
    In 2016, for the first time in history, mobile web browsing surpassed desktop browsing in user counts. Naturally, usage has translated into business demands. Accounting software developers have responded in kind, especially within fields that require on the site analysis such as construction & field service. Expect an increasing number of accounting software systems in the future completely accessible via mobile in years to come.

  4. More data. More intelligence (BI).
    Data and information is power. Business intelligence software is used in virtually every industry. Consulting firms need to track productivity by employee by project/company. Retailers need to track profitability by SKU. Financial institutions set new account goals for personal bankers.

    Over the past five years (2012-2017), we’ve seen a whopping 42% increase in end users looking to evaluate Business intelligence software. As companies collect more data, the need to understand that data will increase. Expect the demand for stronger BI reporting to increase.

  5. Increased industry verticalization.
    Business come in all shapes & sizes. From natural dry cleaners to assisted living facilities. From wine distributors to commercial plumbers. Accounting software has increasingly become tailored suited for the specific needs of each & every industry. As the types of in demand business evolves, expect to see more specialized products to meet specific industry needs.

  6. More integrations and APIs.
    Integrations, or APIs allow distinct products to talk with one another. Your payroll system could update your HR team in Slack of any processing errors. Your payment processor might automatically push new receivable entries to your accounting system. Your accounting software could share available funds with BI systems. Expect inter-software communication abilities to increase in most products.

Upgrading from QuickBooks?

Undoubtedly, QuickBooks is a massively popular product. While QuickBooks can serve many needs, it’s also the most commonly replaced accounting software on the market. For that reason, we conducted a study on over 4,000 previous QB users for their most popular replacement options.

Most common quickbooks replacements

Popular Accounting Software Products

Looking for great accounting software options? Below you can check out a list of the products most commonly considered by others searching for accounting software. The list on this page is based on many years of real software matches. But everyone’s needs are different. Browse for fits with your specific requirements or let us help you identify your top options.

Which software is right for you? Get quick and accurate recommendations.

What if you could simply tell someone about your software needs and they’d find your best choices? Look no further. We’ll listen to your needs and find your top software matches. That’s it. There’s no pressure, no cost.

The companies and representatives you sent our way were prompt and thorough… I definitely would recommend your company as a means to exploring options with qualified providers. — Bruce Conley
Your service saved me some very valuable time and hooked me up with some excellent resources. Thanks for providing this top-notch service. — Linda Vittori
Thanks! Having a service like this to help navigate the ocean of accounting software and help identify potential good-fits without having to delve through numerous bad-fits is of tremendous value! — Mark Carpenter
  • NetSuite ERP by NetSuite

    NetSuite ERP is a cloud-based, developer-hosted, cloud ERP software platform offered on a software-as-a-service (SaaS) basis. NetSuite advertises its ERP solution as "the world's most deployed cloud ERP" solution. NetSuite ERP is used by over...

  • Dynamics GP by Microsoft

    Microsoft Dynamics GP is an ERP solution designed for small and mid-market businesses. Key capabilities of Dynamics GP include: Financial management and accounting Inventory management and...

  • Sage 300 by Sage

    Sage 300 is a business management software solution designed for small and medium-sized businesses. Critical program functionality includes support for accounting, sales, service, purchasing, and inventory management tasks. Sage 300 helps...

  • Intacct by Intacct

    Intacct is a web-based, SaaS accounting and financial management software system designed for use by small and mid-size organizations. Key benefits of Intacct include: Automation of manual processes enabling faster delivery of accurate...

  • Acumatica ERP by Acumatica

    Acumatica is a cloud ERP system designed for the SMB market. Acumatica includes functionality for financial management, customer management, project accounting, distribution management, manufacturing management, field service management, and...

  • SAP Business One by SAP

    SAP Business One provides comprehensive business management capabilities for small and medium sized companies. 50,000 plus companies utilize SAP Business One to provide integrated departmental support for finance, sales, supply chain,...

  • Dynamics NAV by Microsoft

    Dynamics NAV is an ERP product developed by Microsoft for small and mid-market companies. The solution offers product functionality covering financial management, supply chain management, manufacturing, project management, and service...

  • Sage 100 Contractor by Sage

    Sage 100 Contractor is an integrated business management and accounting system for general and engineering contractors and subcontractors of all trades. The software includes estimating, scheduling, project management, equipment management, payroll,...

  • TRAVERSE by Open Systems

    TRAVERSE is an ERP system from Open Systems, Inc. offering financial, operations, and sales functionality. Traverse provides comprehensive integration for key business processes, while offering the ability to scale from 5 to 500 users....

  • Denali Business+Accounting by Cougar Mountain Software

    Everything you expect from a leading business accounting solution, plus the tools to manage cash flow, monitor profitability, analyze trends, track inventory, and make informed financial decisions based on real-time accounting data. Let us show you...

  • VersAccounts Cloud ERP by VersAccounts

    VersAccounts was created to bring the power of a modern full-function ERP system to even the smallest business that needs it. It is a recognition of the fact that even small businesses with modest budgets have business operations that are every bit...

  • Abila MIP Fund Accounting by Abila

    Gain more time to focus on your cause Abila MIP Fund Accounting is a configurable fund accounting solution that allows you to report and track information that is most important to you, your board and your supporters. To help you deliver on...

  • Adagio Accounting Suite by Softrak Systems

    Adagio Accounting is a multi-ledger, modular accounting system that provides best-in-class audit controls and financial reporting capabilities. It is designed for small and mid-sized businesses that process significant volumes of transactions –...

  • Paymate Clarity: Advanced Payroll, HR, Time and Attendance for US & Canada by Paymate Software Corporation

    Clarity - Integrated Payroll, HR, Time and Attendance, and Employee Self Service Clarity is a comprehensive Integrated Payroll and Human Resources solution, ideal for medium and large sized businesses looking for advanced capabilities and HR...

  • SYSPRO 7 by SYSPRO

    SYSPRO - Software You Can Count On Every day thousands of people on six continents rely on SYSPRO for information, functionality and technology. Formed in 1978, SYSPRO has stood the test of time as a company and as a business solution for...

  • Spectrum by Dexter + Chaney

    Version 14 is the most innovative new version of software in Dexter + Chaney’s 30+ year history. With v14, Spectrum enters the cloud. But we’ve done much more than simply move our existing software to a hosted environment. We’ve completely...

  • QuickBooks Enterprise by Intuit

    QuickBooks Enterprise Solutions offers the most comprehensive business management tools for growing businesses with up to 30 simultaneous users. Enterprise Solutions allows you to customize any of the 120+ built-in Reports and forms to look the way...

  • CenterPoint Payroll by Red Wing Software

    CenterPoint Payroll Software Whether you are currently outsourcing your payroll or using another payroll program, CenterPoint Payroll can help you gain better control of your payroll and also save you money and valuable payroll processing...

  • Dynamics SL by Microsoft

    Microsoft Dynamics SL (formerly Microsoft Business Solutions—Solomon) is designed to meet the specific business management needs of project, service, and distribution-driven organizations, including companies in these industries:...

  • eTEK Construction Systems by eTEK International

    For close to 20 years, eTEK has offered a broad range of accounting & business management systems designed specifically for general contractors in the construction industry. Systems are available for either cloud-based, traditional LAN-based, or a...

  • ConnectedBusiness ERP by ConnectedBusiness Systems

    A true Omnichannel ERP & POS solution designed by ConnectedBusiness. Connected Business is a fully integrated omni-channel business solution designed to increase the operational efficiency and profitability of Distribution, eCommerce, Retail and...

  • Sage ERP X3 by Sage

    Sage ERP X3 is the most powerful and flexible business management solution offered by Sage. It empowers mid-sized and larger companies within the manufacturing and distribution industries with the ability to grow a competitive business with limited...

  • Deltek Vision by Deltek

    Powerful Software for Project-Related Businesses At any given moment, effective decision-makers need to understand how your business is performing, why problems occur, the impact on the business, and what you can or should do to enhance...

  • TimeSuite ToolBox by TimeSuite Software

    Toolbox is a solid project, estimating and accounting application that is intuitive and customizable. Toolbox has a relational database architecture, and utilizes a relational SQL database tool. The relational architecture facilitates ease of use....

  • Eagle Business Management Software (EBMS) by Eagle Business Software

    EBMS contains complete enterprise resource planning tools that are important in managing a business more efficiently. The EBMS software is a great upgrade from more basic software such as QuickBooks and Sage 50/Peachtree without a large budget...

  • BillQuick by BQE Software

    Flexible, Award-Winning Billing—Choose from 150+ invoice templates that organize your information beautifully. Automate bills to go out on the schedule of your choice to keep cash flow coming in smoothly. "The Select Items in reports will...

  • Multiview by Multiview

    For organizations seeking a solution that easily conforms to their existing operations, Multiview offers a flexible, integrated suite of financial solutions. With Multiview , companies gain superior visibility over corporate data, creating a more...

  • ProContractor by Viewpoint® by Viewpoint Construction Software

    ProContractor by Viewpoint® is an all-in-one cloud software solution that helps small to mid-sized contractors handle the complexities of the entire project lifecycle. With an all-in-one solution, you have end-to-end control and seamless...

  • Epicor E10 ERP by Epicor Software

    Guided by the need of today’s users, Epicor ERP is a global enterprise resource planning solution that delivers the choice, flexibility and agility to drive growth and opportunity throughout your business. Track, measure, and monitor your...

  • AccountMate 10 for SQL and Express by AccountMate Software

    AccountMate 10 is a real-time, customizable business management and accounting solution designed to address the needs of medium-sized businesses. AccountMate takes advantage of the speed of client/server technology and the latest...

  • Visual Ledger by Aboard Software

    Visual Ledger is a robust, very scalable and perfectly priced ERP software package that addresses the present and future needs of your growing business. The system incorporates as standard features many unique features that are either not...

  • DENALI FUND+Accounting by Cougar Mountain Software

    A modulated nonprofit accounting software solution for small to large organizations, and CPAs who support these organizations. Our nonprofit accounting solutions are used by The American Red Cross, Boys & Girls Club, Girl Scouts, United Way, YMCA...

  • R4 Enterprise by Royal 4 Systems

    As a Total Solution, R4 financials complete your operation. R4 back office financials delivers a multi-entity, multi-currency and multi-lingual enterprise resource planning system. This system fully integrates AR, AP, GL, and other financial...

  • Infor VISUAL by Infor

    Infor VISUAL Enterprise was the first true Windows-based Enterprise Resource Planning (ERP) solution for custom, assemble-to-order, make-to-order, make-to-stock and mixed mode manufacturers. Its leading-edge technology is designed to manage the...

  • Executive Series by Searer Business Technology

    Executive Series Executive Series is a completely integrated accounting solution with strong drill down capabilities. Executive Series is fully customizable through source code to meet the unique needs of your company. Standard features...

  • Business ByDesign by SAP

    The SAP Business ByDesign cloud-based solution (formerly referred to as code name A1S) is a new addition to the SAP offerings for small businesses and midsize companies. It is targeted to the unmet needs of these enterprises, which have...

  • E‑Syst by Rennie, Lindsey and Associates

    Wholesale distribution package includes the applications listed below Accounts Payable Accounts Receivable Customer Service Foreign Currency General Ledger Inventory Control Purchase Order Processing Sales...

  • SAM Pro Enterprise by Data-Basics

    SAMPro Enterprise, Data-Basics’ flagship software suite, provides a comprehensive job costing, service management, mobile workforce, and back office accounting platform. The software components function seamlessly, enabling customers to proactively...

  • OpenPro ERP by OpenPro

    OpenPro Web Based ERP Software enables companies to manage all key business operations in a single, integrated system, which includes customer relationship management, supply chain, order management and fulfillment, inventory management, finance,...

  • Sage 50c Accounting ‑ US by Sage

    Sage 50 is a small business accounting program. Originally known as Peachtree Accounting, Sage 50 is one of the most popular, inexpensive, and long-running accounting software options on the market. Sage 50 is designed to help small...

  • Logos Accounting by Logos Management Software

    You don’t have to be an accountant to manage your organization's finances; we’ll just make you look like one. Logos Fund Accounting is designed for the special needs of churches, schools, and non-profit organizations, giving you the power...

  • MasterTools ‑ Manufacturing by Online Computing

    With MasterTools, all elements of your business process flow through a relational database that enables you to access, monitor and control every aspect of your business in real-time. Managers can see the entire process, quickly and easily track...

  • Fishbowl Inventory by Fishbowl Inventory

    As companies grow they find that the QuickBooks Inventory control capabilities are no longer sufficient for their inventory control needs. They expand beyond multiple locations, the number of products they stock increases, they move into...

  • True ERP by True ERP

    TrueERP is a software solution that goes beyond accounting. It is a true ERP solution designed to integrate the information from all your key business functions from inventory control, purchasing and manufacturing through to sales and fulfillment...

  • ALERE Accounting by TIW Technology

    ALERE Accounting contains the features you need to grow your business. Everything from keeping track of complex inventories, processing customer orders and managing payables, to providing sophisticated general ledger financial controls. ALERE does...

  • DS90 by Software Concepts

    DS90 is an integrated and comprehensive software application ideal for small and emerging businesses. It is comprised of ten modules optimized for the IBM iSeries i5 server family, and includes a function-rich suite of applications available in both...

  • Sage 500 ERP by Sage

    Maximize your operations, insight and competitive advantage to stay ahead of the pack. Sage 500 ERP solutions (formerly Sage ERP MAS 500) provides customizable enterprise resource planning software designed to run every business function at peak...

  • Focus I ERP by Focus Softnet, LLC

    Focus i is a revolutionary product that combines business intelligence (BI) tools with traditional ERP implementations enabling users to run statistical models, analyze data, extract, and generate business intelligence reports on the...

  • Sage 300 Construction and Real Estate by Sage

    Sage 300 Construction and Real Estate (formerly Sage Timberline Office) has proven accounting and estimating applications, covering the entire project lifecycle. Integrated Sage 300 Construction and Real Estate product suites include accounting,...

  • Epicor Prophet 21 by Epicor Software

    Epicor Prophet 21, a leading enterprise software solution for distributors, combines the power of Microsoft® SQL Server® and the familiarity of Windows® in a solution designed to meet distributors’ specific business needs. Epicor Prophet 21...

Your Accounting Software Recommendations

Ready to find out which software solutions are best suited for your needs? Great! Understanding that you’re motivated to find accounting software gives us a great start. We’ve helped companies of all shapes and sizes meet their accounting software needs. With a bit more information about your unique requirements, we’ll narrow down to your top options. Let’s get started!

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