Accounting software, as you're probably aware, is software to record and process your businesses accounting transactions. Accounting software will often form the backbone of your operations.
You'll want lots (if not all) of your systems to be able to speak to your accounting system; to update stock levels, raise invoices and record costs. So it's important to consider integrations with your chosen accounting system.
Accounting system capabilities
To be included in our directory, each product must at least include:
- Accounts payable—ie your purchase ledger showing amounts owed to supplier
- Accounts receivable—ie your sales ledger invoicing or billing
- General ledger accounting
Most accounting packages will include considerably more features than that, including:
- Bank reconciliation—with or without feeds direct from your bank account
- Fixed asset management—recording company assets and calculating and posting depreciation etc
- Stock or inventory management
- Financial forecasting and budgeting
