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Accounting Software

There’s a large quantity of accounting software and financial management products on the market today. Specially designed accounting systems are available for nearly any permutation of organization size, and industry you can think of. From a small-business that may require an off-the-shelf option to a larger enterprise that desires a vast amount of customization, this buyer’s guide will cover everything you should care about when reviewing accounting systems.

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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 a minimum keeps track of financial transactions. Core functionalities include general ledger (GL), accounts payable (AP), and 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 Accounting Software Features

Feature Description
Core accounting Tracks revenues and expenses. Includes modules such as accounts payable, accounts receivable, and a general ledger.
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 Record inventory as current assets on the balance sheet. Track the cost of goods sold on your income statement.

Industry-specific Accounting Software Features

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

Feature 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

Advanced Accounting Software Features

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

Feature Description
Budgeting Reports on finances, personnel, operations, and more. “Intelligence” can range from simple reports to historical and predictive analysis.
Business Intelligence (BI) Reports on finances, personnel, operations, and more. “Intelligence” can range from simple reports to historical and predictive analysis.
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

What Does Your Business Need?

The recently published Accounting Software Buyer Trends report reviewed more than 3,000 accounting software projects and found the needs and motivations of many buyers. While many types of buyers exist, most can fit into these common categories below.

New buyers and small businesses: 37% of the companies we surveyed are buying accounting software for the first time. Many small businesses were looking for increased functionality over their current methods, which ranged from a manual bookkeeping method (pen and paper) to a popular starter solution such as QuickBooks or Sage 50c (Peachtree).

Existing users desiring functions beyond core accounting: Over 20% of buyers said they need software that handles payroll, inventory, and invoicing.

Large companies: Businesses with 50+ employees are more commonly shopping for ERP software options that will include a full suite of functionalities to go along with their accounting. More than 70% of large businesses surveyed desired software that handles budgeting/business intelligence (BI) and fixed assets. Larger businesses also expressed desires for functionality such as fund accounting and procurement.

Popular Accounting Products

With how many accounting solutions exist on the market, it can be hard to decide which one is right for you. Many small businesses will start with an off-the-shelf product that has a small barrier to entry, such as being affordable and easy to learn. For many, that solution is Quickbooks.

The above video demonstrates the use of Quickbooks for accounting purposes and offers an insight into the layout and functionalities offered in the program.

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. Our previously mentioned buyer trends survey found that 33% of upgraders are coming from QuickBooks.

We conducted a study on over 4,000 previous users for their most popular quickbooks replacement options. The solutions will vary by industry, but these options were found to be the most common choices for companies to review:

Most common quickbooks replacements

Common Accounting Software Pain Points

Integration with other business software. Companies that do not have a complete (all-in-one) software will look to combine more than one software to meet all of their functionality needs. An off-the-shelf software that handles core accounting may lack additional functionality such as payroll, advanced reporting, or more involved inventory. Once the need for these features arrives, many buyers may lack the means necessary to integrate the programs together.

Difficulty finding industry-specific tools. As consumers demand functionality more in-tune with their industry needs, software developers are doing everything they can to make those dreams a reality. While a super-niche industry may not have a software option exclusively developed for them, be on the lookout for specialized vendors. These are companies that pride themselves in implementing specific software solutions into certain environments, and will offer customizations or add-ons for a generic-product that will make it more in line with what the business expects on a day to day basis.

Low levels of customization available. Many companies will try to make due with a lower-cost solution at the expense of advanced functionality. Options such as Sage 50c and Quickbooks are great low priced options for new businesses, but they’ll lack ways to customize the software towards your business. Popular accounting software customizations include tailored reports, role-based dashboards, custom data fields that can be added to invoices and reports, and more.

Accounting Software Trends

The landscape of features and technology offered by software vendors is constantly changing. And as software changes, so do the demand for specific features.

Increased adoption of cloud software. Also known as software-as-a-service (SaaS), cloud adoption rates have picked up over the past decade. 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%. With cloud-based software, products are leased, rather than licensed, which becomes more attractive for smaller businesses with limited funds. The software industry has responded by making software more available on a cloud basis.

More tablet & mobile applications. In 2016, 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.

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.

More data. More intelligence (BI). Over the past five years (2012-2017), we’ve seen a whopping 42% increase in end users looking to evaluate Business intelligence software. Business intelligence software is used in virtually every industry. Consulting firms need to track employee productivity by project/company. Retailers need to track profitability by SKU. Financial institutions set new account goals for personal bankers.

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.

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
  • 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...

  • Connected Accounting and ERP by Accountek Solutions

    Connected Accounting and ERP is a business management application designed for small to midsized companies. Connected can be deployed on traditional networks, with both Mac and/or PC clients, or in the Connected on Demand hosted cloud. The...

  • Sage 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...

  • 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 –...

  • AccountEdge Pro by Acclivity

    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 payroll, track and build inventory, bill for time, and manage...

  • Denali Business+Accounting by Cougar Mountain Software

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  • ActivityHD by nQativ

    nQativ’s ActivityHD software is an accounting solution like none other. nQativ and ActivityHD are an excellent fit for small to medium-sized organizations needing to fuel their business decisions with accurate and actionable data. With...

  • FlexiFinancials by Flexi Software

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  • Golden Accounting System by SMH Consulting

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  • 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...

  • DS90 iSeries by Software Concepts

    The DS90 iSeries distribution and accounting software suite is an ERP application built for small to mid-sized businesses. It offers the functionality of high end ERP applications but without their complexity or high price. DS90 iSeries is easy to...

  • Sage Business Cloud Financials by Sage

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  • 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...

  • 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...

  • Bench by Bench

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  • Spire by Spire Systems Inc.

    Spire is a business management solution for small and mid-sized businesses. Their software is developed with an intuitive interface and a robust database that uses modern technology for efficiency, flexibility and scalability. With Spire,...

  • Acclamare by Acclamare

    Distributors know what distributors need. Acclamare understands this better than anyone, so they have continually sought out distributors' thoughts, ideas and best practices. The months and years of feedback we have received have been plentiful,...

  • 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...

  • 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....

  • CenterPoint Accounting by Red Wing Software

    Better Data, Better Decisions. CenterPoint Accounting Software is a real-time accounting software application that allows businesses to track important information, so they can easily see which areas of the business are thriving, and which...

  • SoftLedger by SoftLedger

    SoftLedger is your system of record for all things financial, across your entire organization. By utilizing the latest cloud technology, we provide a flexible financial management solution that includes best in class functionality for your general...

  • 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,...

  • Gravity by Gravity Software

    Explore the innovative benefits of Gravity Software and grow your business. Gravity makes it simple for your business to operate from anywhere without all the startup costs associated with other accounting applications. Gravity Software is 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...

  • CMiC Financials by Computer Methods International Corporation (CMIC)

    CMiC Financials is the most comprehensive financial management software package ever designed for the construction industry. Providing real-time functionality that gives your organization tangible ROI, CMiC Financials gives you greater control over...

  • Isah Business Software by Isah Business Software

    A passion for the manufacturing industry. Isah Business Software is an international software company that develops, sells, implements and maintains business software in all sectors of the make to order manufacturing industry. Based on...

  • Compu‑Tech PowerLedger+ by Compu-Tech

    Are you outgrowing your current accounting software and need a solution for the future? We offer an accounting package with several add-on modules that can either be licensed to run on your existing IBM Power (IBM i or AS/400) server, or...

  • Cost Allocator by Corporate Renaissance Group

    Cost Allocator is a flexible and easy-to-use application. It allows enterprises to allocate cost across cost centers, departments, and functions. Designed as an enterprise-wide application that can be used together with accounting and finance...

  • Financial Management by Cogsdale

    A financial management solution from Cogsdale. ## Accounts Payable Improve control over expenses with up-to-the-minute information about payables, easy management of vendors and effort-saving automation of many routine or complex tasks that...

  • Voyage Accounting by Diamond Software

    Diamond Software has developed a software package specifically designed to handle the unique accounting needs of shipping agents. It contains the following features: Automatically books expenses to voyages as the bills are posted Keeps...

  • Financial Edge NXT by Blackbaud

    Financial Edge NXT is the first-of-its-kind cloud accounting solution that’s intuitive, reliable, and built exclusively for non-profits. It is advanced technology with powerful reporting tools to help your accounting team drive efficiency,...

  • 21st Century Accounting by 21st Century Accounting Software

    21st Century Accounting doesn't simply “work with Windows“ and it's not just an updated DOS program. Instead, it's specifically designed to take advantage of every part of the Windows environment. Its open-ended architecture offers easy...

  • Endowment Management Suite by AccuFund

    EMS is a suite of modules designed for the development office actively managing a large number of named endowments with active spending policies. The modules provide development officers with an integrated set of tools to track donors, their...

  • Direct Store Delivery by AFS Technologies

    AFS DSD is a complete route accounting solution to link your organization together and improve production efficiencies. From purchasing and receiving to scheduling and tracking, Direct Store Delivery solutions from AFS provide a one-entry system to...

  • Agiliron by Agiliron

    In today's competitive environment, it is imperative for businesses to continually think of ways to increase top line revenue...while reducing operational costs and administrative overhead. Solid technology solutions are the cornerstone to...

  • AGORA Membership Manager by BGE Enterprises

    KairosCorp understands that associations and member-based organizations have specific needs. That's why we developed AGORA Membership Manager. AGORA Membership Manager enables associations and member-based organizations to effectively manage...

  • SOP Auto‑Fulfillment by Binary Stream Software

    Auto-Fulfill Partially Fulfilled Sales Orders In response to customers that do not use Microsoft Dynamics GP’s (formerly Microsoft Business Solutions - Great Plains) SOP-to-POP link/sales fulfillment workflow, we have developed an...

  • CasinoEdge by Joseph Eve

    Most casino accounting packages were designed before the internet, smartphones, tablets, and the cloud. CasinoEdge powered by Intacct is different. It was created in the age of the internet and takes advantage of all the benefits that come from...

  • SYNDi Investment Ledger by Indus Systems

    SYNDi Investment Ledger helps in situations where you attempt to maintain the investment history of stocks and bonds in General Ledger. Typically a G/L account is set up for each security and is often extended to the investor level...

  • INBOOKS by InfoDynamics

    Accounting software is great for accounting but when it comes to paper and process, you need best of breed document solution software. INBOOKS document management has an innovative integration with QuickBooks®. Documents can be accessed stored and...

  • Employee Accounts & Splits by Integrity Data

    Requires Microsoft Dynamics™ GP Payroll and Human Resources Manage complex payroll posting requirements in Microsoft DynamicsTM GP Payroll. Overview Tight budgets and the fact that an organization's most significant...

  • INTERAC by Intersoft Systems

    The INTERAC General Business System is much more than just an accounting system. It is a tightly integrated, flexible, user friendly suite of accounting and management applications which will enable your team to become even more productive and your...

  • eXtender by eOne Integrated Business Solutions

    eXtender allows for complete custom applications to be built by end users without a single line of code being written! The application you create comes with all the features of Great Plains; SmartLists, drill down, advanced lookups, notes as...

  • Enhanced Password Security by EthoTech

    EPS will assist with Sarbanes-Oxley compliance by giving you similar security at the application level as Microsoft Windows 2003 Server provides at the operating system level. Now you can: Force users to create unique and secure passwords...

  • Deliver‑IT by Dynavistics

    In today’s fast-paced business environment, delivery personnel need a simple, adaptable, and dependable method of capturing signatures while making deliveries. Deliver-IT is designed to maximize the efficiency of your delivery management process....

  • Fastpath Configurator by Fastpath Solutions

    With Fastpath Configurator, Microsoft Dynamics GP users with version 8 and above can get the benefit of role-based security. By assigning security by role, you get better security with a fraction of the effort. Configurator also offer robust...

  • Advanced Bank Reconcilation by Nolan Business Solutions

    Nolan Business Solutions'US Division is a unique Microsoft Dynamics GP ISV and NetSuite solution provider with the ability to deliver effective GP and Netsuite enhancements, as well as full cloud installations for Netsuite. Our well-known add-on...

  • PULSE Archive by Leahy ERP Solutions

    ##Do you wish your Macola software ran faster? Macola is a high-performance system, but as you accumulate more and more data, it naturally takes longer and longer to sort through the data in day-to-day use. The result is a database that will take...

  • Project Accounting by Marcil Technologies by Marcil Technolgies

    Marcel Technologies Project Accounting with Xpede.NET provides the versatility needed by professional services and IT organizations to easily control costs and manage details of any size project. Written in Microsoft Dynamics GP native language,...

  • Financial Management Series by MaxQ Technologies

    MaxQ's Financial Management Series offers maximum flexibility and superior performance, providing seamless integration to your Microsoft Business Solution, with a quick, easy start-up and implementation. Whatever your industry, run your business...

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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