Business Accounting Software Solutions

Author: Gordon Petten

Business accounting software solutions can be designed specifically by a company to meet its own needs but is most often provided by an outside source. Most business accounting software solutions on the market today typically include the ability to handle AR, AP, general ledger functions, billing, purchase orders, sales orders, and inventory control. Higher-end software may also include the ability to track expenses and manage payroll, month end reporting, and labor tracking.
These business accounting software solutions often require a long period for implementation and training, sometimes several months or more. In many cases, these solutions include complete integration with existing systems and have to be configured and customized to meet the needs of the company.
Business accounting software solutions can be as simple as a CD-ROM you buy at your local business office supply store and install yourself to something complicated enough to require a consultant to design the software to function within your existing framework. There are business accounting software solutions on the market to meet virtually any individual's or company's needs and software ranging in price from a $40 home business program to a million-dollar program and support system capable of handling the needs of a major international corporation.
The advantage of choosing a high-end business accounting software solution is that these solutions are created to be both industry and company specific and can be modified to meet the precise needs of the business.
Specialty markets which may require high-end business accounting software solutions include banks and other financial companies, construction companies, hospitals and other medical companies, not for profit organizations, and retail operations.
Some business accounting software solutions are a mix of high-end and mid-range software packages. This not only lowers the overall price of the package but can be more suitable for companies early in their growth and for smaller companies. Solutions on this level can even include using database software that is specifically structured to be of use the company.
Because not everyone who relies on business accounting software solutions is an accountant, many smaller businesses have non-accountants in the role of managing the finances and creating the financial reports for the company. In this case, the software solution needs to be user-friendly for the non-accountant. If a company is seeking a business accounting software solution that can be used by non-accountants, it is wise for them to also consider some kind of oversight system in which regular audits are conducted to ensure the information is properly reported.

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