Financial Management Systems

Get the best financial management systems for your business. Compare product reviews, pricing below. Read our buyer’s guide for more help.

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Oracle Cloud ERP is an integrated suite of business modules comprised of the Oracle Financials Cloud, Oracle Project Portfolio Management Cloud, and Oracle Procurement Cloud. Oracle Fusion Financials Cloud Service offers an…
Price Range
$ $ $ $ $
Starting Price
$600/month/user
Client OS
Web
Deployment
Cloud Hosted
Sage Intacct is a web-based, SaaS accounting and financial management software system designed for use by small and mid-size organizations. Key Benefits ; Video Overview ; Real World Evaluations ; Quick Facts Q&A What…
Price Range
$ $ · · ·
Starting Price
$400/month/user
Client OS
Web
Deployment
Cloud Hosted
FinancialForce is an accounting system delivered on-demand from Force.com, the world’s leading cloud computing platform pioneered by salesforce.com. It is a unique and effective financial management system in its own right…
Price Range
$ $ $ $ ·
Starting Price
$175/month/user
Client OS
Web
Deployment
Cloud Hosted
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…
Price Range
$ $ $ $ ·
Starting Price
$99/month/user
Client OS
Web
Deployment
Cloud Hosted
Workday is enterprise software that provides financial management and human capital management functionality for companies across a variety of industries: Financial Services; Healthcare and Life Sciences; Higher Education…
Price Range
$ $ · · ·
Starting Price
$100/year/user
Client OS
Web
Deployment
Cloud Hosted
Get a complete business and financial management solution for small and medium-sized businesses. Microsoft Dynamics 365 Business Central makes ordering, selling, invoicing, and reporting easier—starting on day one. UPDATE…
Price Range
$ $ $ · ·
Starting Price
$40/month/user
Client OS
Web
Deployment
Cloud or On-Premises
SAP Business One provides comprehensive business management capabilities for small and medium sized companies. This system provides integrated departmental support for finance, sales, supply chain, production, project…
Price Range
$ $ $ $ ·
Starting Price
$410/year/user
Client OS
Windows
Deployment
Cloud or On-Premises
CYMA Financial Management System (FMS) represents the most sophisticated accounting, payroll and human resources software solution on the market for mid-sized businesses. CYMA FMS provides accounting and payroll functionality…
Price Range
$ $ $ · ·
Client OS
Windows
The result of over 17 years development and commercial use, the Endura Financial Management System (FMS) is a complete financial accounting solution designed for the needs of distribution companies and manufacturers working…
Client OS
Windows
MH&Co.’s ERP solution for government offers a broad range of software including Financials, Community Development, and Vehicle for Hire applications. The Financial Software audience ranges from state and local government, to…
Client OS
Windows
Delivering manufacturers the tools necessary to monitor financial data and improve decision making. Epicor financial management software is designed to automate and streamline your financial processes and create value through…
Price Range
$ $ $ $ $
Client OS
Mac, Windows
Deployment
Cloud or On-Premises
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…
Price Range
$ $ $ $ ·
Starting Price
$12,800/year
Client OS
Web, Windows
Deployment
Cloud or On-Premises
UNIT4 Coda Financials is an award-winning suite of best-of-class financial management software designed to integrate with your industry- and company-specific applications. UNIT4 Coda Financials provides real-time financial…
Price Range
$ $ $ $ $
Client OS
Web, Windows
Deployment
Cloud Hosted
Deltek Vision keeps professional service firms on top of problems that can derail your success and facilitates better decision-making by delivering mission critical information to your desktop at the click of a mouse…
Price Range
$ $ $ · ·
Client OS
Web, Windows
Deployment
Cloud or On-Premises
GMS is a national developer of accounting and revolving loan software for not-for-profit organizations. The basic accounting package provides comprehensive financial reporting, general ledger, payroll, accounts payable and…
Price Range
$ $ $ · ·
Client OS
Windows
idu-Concept provides smart budgeting, forecasting and reporting tools with easy-to-use modules designed to meet all of your business needs. idu-Concept is available both on premise and as a cloud solution. idu-Concept lets…
Price Range
$ $ · · ·
Starting Price
$50/month/user
Client OS
Web
Deployment
Cloud or On-Premises
Kepion is a web-based corporate performance management (CPM) software for budgeting, planning and forecasting. Kepion offers business planning on a single platform for finance, sales, and operations. Kepion can be found as a…
Price Range
$ $ $ · ·
Client OS
Web, Windows
Deployment
Cloud Hosted
Odoo
(6)
Odoo is the most installed business software in the world. Odoo is used by 2.000.000 users worldwide ranging from very small companies (1 user) to very large ones (300 000 users). Amongst the biggest references you can find…
Price Range
$ $ $ · ·
Client OS
Web
Deployment
Cloud or On-Premises
QuickBooks Online is the most flexible way to link multiple users and locations to their business finances-anytime, anywhere. It has the accounting functionality of QuickBooks desktop software, but instead of installing it on…
Price Range
$ · · · ·
Starting Price
$15/month
Client OS
Web
Deployment
Cloud Hosted

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Financial Management Systems Buyer’s Guide

What Are Financial Management Systems?

Financial management systems help business track income and expenses and plan for growth. Commonly referred to as accounting software, financial management systems are designed to help businesses make better spending decisions, create accurate financial reports, and manage assets. These systems also have some human resources management, inventory control, and billing and invoicing functionality.

Financial management solutions are often an important part of enterprise resource planning (ERP) systems. Larger businesses benefit from an all-in-one ERP solution to handle finances in addition to other business functions all from one system. You won’t have to spend time switching between systems to find the data you need.

Features of Financial Management Systems

Common Features

Feature Description
Financial Accounting Revenue and expense tracking. Modules include general ledger, accounts payable, and accounts receivable.
Billing and Invoicing Create and send invoices and bills for products and services rendered. Track outstanding and paid invoices.
Financial Reporting Create financial statements for internal or external use.
Human Resources Manage payroll, employee benefits, certification and licensing tracking, and applicant tracking.
Fixed Asset Management Track the value of depreciating fixed assets.
Inventory Control Track on-hand inventory assets and the costs associated with them.
Sample income statement in FlexiFinancials
Sample income statement in FlexiFinancials.

Advanced Features

Feature Description
Budgeting and Forecasting Create financial plans using historical data and estimates of future market conditions.
Bank Reconciliation Import real-time bank records and check if bank and accounting records match.
BI Tools Create advanced reports on financials, operations, business performance, personnel, and more. Report on historical data or perform predictive analysis.
Fund Accounting Manage income and distribution of grants, state aid, scholarships, and work-study programs. Primarily used by government agencies, nonprofits, and educational institutions.
Income statement forecast example in Vivid Reports
Income statement forecast example in Vivid Reports.

Financial Accounting

Financial software helps businesses manage important financial information. The system records real-time income and sales data. Outstanding balances are also tracked within the system. Automatic payment reminders can be sent for upcoming and overdue payments. The software also assists with creating invoices to be sent out after services are rendered.

Financial management systems also keep track of the money you owe to your vendors. The system can automatically send recurring payments as needed to avoid accruing late fees.

General ledger in Microsoft Dynamics 365
The general ledger in Microsoft Dynamics 365 Business Central.

Reporting and Analytics

Reporting and analytics functionality in financial software gives you a deeper look into your company’s financial operations. Financial systems allow you to break down sales by date range, best selling products and services, top performing sales reps, and more. This gives you the ability to clearly analyze sales data and make better business decisions based on historical trends.

Financial management systems also help businesses with reporting requirements laid out by the generally accepted accounting principles (GAAP). Required financial statements you can run include income statements, cash flow statements, and balance sheets.

Dashboards in FinancialForce
Dashboards in FinancialForce provide information on open orders, shipments, quotes, and more.

Financial Management in ERP Software

Financial management is included in most ERP systems. ERP solutions manage a variety of business processes within an organization. These systems link back-office operations with customer-facing functionality to keep businesses connected. Examples of ERP software with strong financial systems include Oracle ERP, Sage Intacct, and SAP Business One.

Industry-specific ERP options are available for managing financials that are unique to your industry. Some examples include:

Industry Financial Functionality Description
Construction and Service-Based Job Costing Assign costs to labor, equipment, and materials needed for a job.
Wholesale and Distribution Order Management Record sales, track order status, create invoices, and manage backorders.
Process Manufacturers Recipe Management Manage the price and type of ingredients in a recipe, as well as batch scaling and substitute info.
Sample report in Spectrum
Sample report in Spectrum showing cost activity for a specific job.

Free and Open Source Financial Management Software

A few free, open source financial management systems are available. These solutions generally have limited functionality and are geared towards personal use or for startups and small businesses. Some examples of free, open source financial management software include:

1. GnuCash

GnuCash is a free, open source financial accounting software marketed as being for personal use and small businesses. Primary features include double-entry accounting, reporting, scheduled transactions, income and expense tracking, and statement reconciliation. Downloads are available for Linux, Microsoft Windows, and Mac OS X.

GnuCash does not support multiple users. Setup can also take up a lot of time.

  • A basic tutorial for GnuCash beginners.

2. Firefly III

Firefly III is a free and open source financial management solution that is primarily for personal use. This software assists with income and expense tracking, budgeting, and financial reporting. Firefly II is self-hosted.

Budget example in Firefly III
Budget example in Firefly III.

3. LedgerSMB

LedgerSMB is a free and open source accounting software marketed towards small to medium-sized businesses. Some features include invoicing, quoting, accounts receivable, accounts payable, general ledger, inventory management, and fixed asset management.

  • Demo of LedgerSMB.