Accounting Software for Small Business

Text-only Preview

Accounting Software for Small Business
Accounting software for small business is App software which processes
and records the transactions of accounting within the functioning modules
like Accounts receivables, Accounts Payable, Pay roll services, trial balances,
etc. It operates as an Accounting info system. It could be created in the
house by the firm or company who is utilizing it or may even be purchased
from some 3rd party. It can also be a combination of the 3rd party app
software with some local alterations. It may vary in its cost as well as
The current day market is under going some consolidations since the middle
of the 90s. With a number of suppliers who ceased to transact.
The online accounts software is composed of different modules typically,
various sections which deal with some specific areas of the accounting
functions. The most common ones are:
Core Modules
* Accounts Payable- where the firm enters into a bill and pays some
money which it owes
* Accounts Receivables- where the firm enters into the money which is
* General Ledger- it is the books of the company
* Bill- where the firm presets the bills their customers or clients
* Stock or inventory- where the firm keeps a control over the inventory
* Purchasing orders- where the firm orders for the inventory
* Sales orders- where the firm saves the orders of the customers for
supplying inventory
* Book keeping- where the firm saves the payment and collection
Non core Modules
* Debts collection- where the firm records the attempts for collection of
the over due bills
* Electric payments processing
* Expenses- where the employees business related expenditures are
* Enquiries- where the firm searches for some info on the screen without
edits and additional
* Pay roll- where the firm records the salaries, taxes related and the
wages of the employees
* Reports- where the firm takes print of the data

* Time sheet- where the professionals like the consultants and the
attorneys record the no. of hours worked
* Purchasing requisition- where all the requests for purchasing order are
made, tracked and approved
* Reconciliation- where the records are compared on both the sides of
the transactions for the purpose of consistency
* Drilling down
In most of the cases, the implementation that is the configuration as well as
the installation of the systems at the customer could be a consideration than
the real software which is chosen when it is about the total price of the
ownership for a business. Most of the middle market and the large apps are
sold specifically with the help of the resellers, consultants and the
Circular 230 Disclaimer: In conformity with U.S. Treasury Department
Circular 230 the documents contained on this website and any tax advice
contained herein (including any attachments) is not intended or written to be
used, and cannot be used, for the purpose of
(i) avoiding penalties that may be imposed under the Internal Revenue Code
(ii) promoting, marketing or recommending to another party any transaction
or matter addressed herein.
Advertising Disclaimer: This site may constitute attorney advertising.