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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
  • 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

    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...

  • 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

    FlexiFinancials, developed by Flexi Software, is a full suite of accounting solutions for companies in several industries including Banking, Insurance, and Financial Services. The FlexiFinancials suite consists of a cohesive set of financial...

  • Golden Accounting System by SMH Consulting

    GOLDEN ACCOUNTING SYSTEM™ is a full-featured accounting suite for the small to medium sized enterprise. It is designed to fulfill the accounting needs of companies that have outgrown entry-level accounting systems or have specialized business...

  • 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 Live by Sage

    ##Manage your accounting and your business more efficiently. Best in Class Accounting Software Sage has created a next generation cloud accounting solution that empowers small and medium businesses to achieve their ambition by reducing the...

  • 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

    Bench is a subscription accounting service that connects organizational financial data with a team of professional bookkeepers. Typically used by small businesses with 10 or fewer employees. Bench accounting software tracks financials and...

  • 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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