List Of Top Accounting Software For Your Business

Simply put, accounting is the lifeline of a business. Accounting deals with summarizing, analyzing and reporting the financial data and information about a business. An accounting software records and processes the accounting transactions of a business within its functional modules. Financial statements consisting of the balance sheet, profit and loss account, and statement of changes in financial position can be easily prepared with an accounting software.

An accounting software is all about the various functional modules that it has. Some of them are- General ledger which takes care of the company's financial dealings; Accounts Payable where the company enters its bills and pays the money it owes; Accounts Receivable where money received is entered.

The different categories or types of accounting software are as follows:

a) Small business/personal accounting software which are mainly meant for home users. They are simple and inexpensive with simple functioning such as management of budgets.

b) Low end accounting software are for small business markets that are capable of serving a single national market. Such software are characterized by 'single entry' products.

c) Mid market accounting software are for companies with large businesses. These software are capable of serving the needs of multiple national accountancy standards and facilitate accounting in multiple currencies.

d) High end accounting software are complex and expensive business accounting software that are also known as Enterprise Resource Planning or ERP software.

However, you have to keep certain things in mind before buying an accounting software, like the prices of the software, its different features, its after-sales support and alike. Most of the accounting software include all the important accounting modules. The more specialized features a software has, the more expensive it becomes. Your software features must be compatible with your business. Also, the after-sales support is important like FAQ package, local service center and others.

There are a lot of top accounting software available in every category. So, it is not easy to select the best ones. Below are top five accounting software in every category.

A. Small business/personal accounting software:
1. ePeachtree (Best Software)
2. MYOB Plus for Windows (MYOB Software)
3. Peachtree Complete Accounting (Best Software)
4. QuickBooks Online (Intuit)
5. Small Business Manager (Microsoft)

B. Low-End Accounting Software:
1. BusinessVision 32 (Best Software)
2. MAS 90 & MAS 200 (Best Software)
3. QuickBooks Pro 2003 (Intuit)
4. ACCPAC Pro Series (ACCPAC International)
5. Vision Point 2000 (Best Software)

C. Middle-Market Accounting Software:
1. ACCPAC Advantage Series Corporate Edition (Best Software)
2. Great Plains (Microsoft) MAS 90 & MAS 200 (Best Software)
3. Navision (Microsoft)
4. SouthWare Excellence Series (SouthWare)
5. SYSPRO (SysproUSA)

D. High-end accounting ERP Market:
1. Axapta (Microsoft Software)
2. e-Business Suite (Oracle)
3. MAS 500 (Best Software).
4. Solomon (Microsoft)
5. ACCPAC Advantage Series Enterprise Edition (Best Software)

In compiling the above list, a variety of factors such as feedbacks from customers, scalability of the software, and after-sales support are used. Also, the different attributes for different categories have been considered like for ERP software, attributes such as manufacturing solution, supply chain solution and database solution. The above compilation may not be all inclusive and some people might choose to differ with it but it is almost near to perfect list.

Author: Ashish Jain

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Oracle E-Business Suite Outsourcing Notes

Oracle Applications, in the eve of Oracle Fusion, is very efficient platform for being supported remotely, sometimes referred as offshore, nearshore or outsourced. The majority of Oracle E-Business clients have basic set of modules, also referred as Oracle Financials. Let’s take a look at outsourcing options and pitfalls.

• Central Worldwide database. This is ideal scenario, however in real world Oracle EBusiness Suite might be spread over across several regional servers. In any case, web client interface provides “remote connection” to Oracle EBS users and administrators. Natural way to include Oracle consulting company into the same group

• Multinational Corporation. As its name reads – it deals with international business practice and has to tune Oracle Applications to local or regional specifics, often referred as localizations. Localization usually has two aspects: fiscal compliance and language support. As corporation penetrates to large country – fiscal compliance part of localization usually becomes the first priority. Very good example is Brazil. It has federal, state and local municipal taxation. For Brazil worldwide outsourcing partner has to coup with one of local Brazilian Oracle partners, who should implement and support Brazilian localization

• Reporting. This one of the most promising Oracle outsourcing directions. Report is very formalized by its nature and it is relatively simple to find “report designer”, who will create the report according to your specs and will ask clarification questions if needed. Majority of Oracle reporting tools: Oracle Reports, Oracle Discoverer, Oracle XML Publisher, RXi Report, FSG Reports, Business Intelligence System are good candidates

• Extension Development. Oracle customizations are often referred as extensions. Also extensions are compared with modifications, where modification is the change to standard Oracle EBS database and extension is preferred way to go

Author: Andrew Karasev

Andrew Karasev is Chief Technology Officer at Alba Spectrum Technologies ( http://www.albaspectrum.com http://www.ronix-systems.de http://www.enterlogix.com.br ) - Microsoft Business Solutions Great Plains, Navision, Axapta MS CRM, Oracle Financials and IBM Lotus Domino Partner, serving corporate customers in the following industries: Aerospace & Defense, Medical & Healthcare, Distribution & Logistics, Hospitality, Banking & Finance, Wholesale & Retail, Chemicals, Oil & Gas, Placement & Recruiting, Advertising & Publishing, Textile, Pharmaceutical, Non-Profit, Beverages, Conglomerates, Apparels, Durables, Manufacturing and having locations in multiple states and internationally.

We are serving USA Nationwide: CA, IL, NY, FL, AZ, CO, TX, WI, WA, MI, MA, MO, LA, NM, MN, Europe: Germany, France, Belgium, Poland, Russia, Middle East (Egypt, Saudi Arabia, OAE, Bahrain), Asia: China, Australia, New Zealand, Oceania, South & Central America: Mexico, Peru, Brazil, Venezuela, Colombia, Ecuador, Chile, Paraguay, Uruguay, Argentina, Dominican Republic, Puerto Rico

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Looking For ERP Software?

Enterprise Resource Planning (ERP) software is the software which operates the inner procedures of a business- management control, operational control and resources planning. It was developed after Management Resources Planning (MRP II) was developed, which was used to supervise the manufacturing procedures. SAP AG was the pioneer to develop ERP software. It is the biggest European software company, with head office in Walldorf, Germany.

SAP was established in the year 1972 by five ex- IBM engineers in Mannheim, Germany. In 1976, SAP GmbH was established; then, the next year, its headquarter was shifted to Walldorf. Since the annual general meeting of 2005, it was officially named SAP AG. In February 2007, Mr. Henning Kagermann’s contract was renewed and, extended till 2009 and, Mr. Shai Agassi was declared as the successor of Mr. Kagermann. SAP AG is the largest software corporation in Europe and, the third largest software company in the world. Its major competitor is the Oracle Corporation of USA.

SAP has numerous products mainly focusing on Enterprise Resource Planning (ERP). Major product of the company is SAP ERP. The name of its previous version is SAP R/3, which provides a clue of its functions. The R stands for Real-time data processing and, the 3 stands for 3-tier architecture; client, application server and, database. Other main products are: Advanced Planner and Optimizer (APO), Customer Relationship Management (CRM), Business Information Warehouse (BW), Suppler Relationship Management (SRM), Product Lifecycle Management (PLM), Human Resource Management Systems (HRMS), Exchange Infrastructure (XI), SAP Knowledge Warehouse (KW) and, Enterprise Portal (EP).

SAP Implementation is the process that defines an entire system to execute SAP software in a company. It is a huge operation which causes a lot of change in a company. The entire procedure can take a few years as well. The changes that are made, are to reach higher goals, for example, improved information and, communication. For instance, Robert Bosch implemented R/3, the previous version of SAP ERP, which took him almost 10 years to execute. It shows that, SAP executing practice is really very difficult.

SAP claims that, taking SAP services is the right solution and, it maximizes a company’s success. They provide a wide selection of services, programs and, tools. For example, they provide SAP Active Global Support, SAP Business Process Outsourcing, SAP Consulting, SAP Custom Development, SAP Education, SAP Financing, SAP Managed Services, and SAP Ramp-up etc. With over 30 years of life span, this company supports over 36,000 consumers with 105,000 installations throughout 120 countries around the globe. Its special ecosystem comprises of 11,000 education and consulting employees, 6,000 support and service staff, 185,000 registered partner employees, 6 global support centers, 77 training centers, 9 custom development centers and 24/7 support.

As an ERP software company, SAP has started its success story from the very beginning. It has pioneered this area. The company has developed SAP Netweaver Platform, which permits them to gain more values and, respect from their consumers. It surely maximizes the profit of an organization.

Author: Gerald Aubin

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