4 Accounting Software Solutions for SMEs Are you overawed BY the multiple accounting software solutions flooding the market? We offer to you a list of the best accounting software solutions available for SMEs. As your business grows, the demands and requirements pertaining to accounting become more complicated than ever. There are indeed multiple benefits of using accounting software, but selecting the right product that caters to your specific business requirements may turn out to be daunting. What worked for your business earlier may no longer be catering to your increasing needs. The good news is that the market is flooded with an extensive range of software solutions; however, it’s difficult to choose any one as such as all entail specific benefits. Let’s take a look at 4 of the most popular software solutions for SMEs: 1. Sage 50 Initially created as entry-level accounting software, Sage 50 has eventually emerged to cater to complex business accounting requirements. Sage 50 is designed to handle basic accounting functionalities such as accounts receivables, bill payments, and cash-flow management. Additionally, the Sage 50 accounting can also be altered and tweaked as per industry-specific requirements. Most small businesses prefer using Sage 50 as setting it up doesn’t require expensive installations and training.
2. NetSuite ERP NetSuite ERP is basically a customer relationship platform that is integrated with marketing automation functionalities. Additionally, this technologically advanced software also offers management functionalities and customer support. NetSuite ERP is highly preferred by enterprises as it offers rich dashboards that provide a detailed overview of business insights, and has key performance indicators that enable business managers to have a quick glance at calls, deadlines and meeting reminders among others. NetSuite ERP also comes with features such as accounts receivable, accounts payable, and fixed assets that definitely bolster the accounting operations of an enterprise. 3. QuickBooks Considered as a market leader in accounting and financial management, QuickBooks has always enjoyed a solid reputation. It offers users an easy set-up that can easily be used even by non- accountants. QuickBooks comes with an extensive range of smart tools that help manage accounting functions easily. 4. Peachtree Accounting Software Created by the Sage software, Peachtree accounting software comes in five different versions viz. Pro, Premium, Complete, Quantum, and Accountant. It is basic accounting software that boasts of USPs such as easy setup, advanced functionalities, and budget-friendly rates. Peachtree is also loaded with an extensive range of reports that are easily customizable. It is indeed preferable software for people who plan to start small businesses because of its affordability and functionality.
A Note of Advice: No matter which accounting software you choose for your business, security is of paramount importance. It is always important for you to ensure that your sensitive financial data is kept highly secure at all times. To exactly determine the software that works perfectly for your business, it is always important to have knowledge of the specific aspects of your business. This would include multiple things such as number of users, industry, levels of security, and customizations. So, understand your requirements and choose the most effective accounting software solution for yourself to give an instant boost to the accounting management services of your business.