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Types of Accounting Software

Types of Accounting Software
This article shares some insights on the various types of software that make accounting easy and error free. Have a look...
Geeta Dhavale
Accounting is a something every organization does, be it small or big. Earlier, people used to use accounting books and files where the financial transactions were maintained manually. But today, a lot of companies use varied software as per their needs and requirements.
Not only businesses and company owners, but individuals too can use different accounting software for personal use. Some of the software are also very flexible and can offer a range of applications that can adapt work flow as and when the need arises. They can help enhance the compliance, increase staff productivity, improve date accuracy, and reduces errors. This all results in increased profits and higher revenue.
Different Accounting Software Packages
There are various software that are designed to cater to the different needs of different businesses and practices. You can also go for custom-made software that is compatible with your business process. The different software are characterized by their applications that are suitable and apt for a particular industry, organization, or an individual.
Accounting Software for Personal Use
This kind of private software are meant for home use. You can have such software downloaded on your personal computer or laptop that can help you manage your house hold budget and finances. The applications involved in such software are adequate and simple and are meant to meet with all the basic accounting requirements such as, budget planner, accounting spreadsheet, charts, bookkeeping, automate upgrades, and wealth monitor, etc.
Accounting Software for Small Business
This type of software is also known as low end accounting software. As the name suggests, it fulfills the accounting needs of small businesses, such as generating invoices, financial reporting, e-commerce, merging accounts and managing payrolls, etc. Some of the best small business accounting software have moderate amount of applications that are flexible and convertible.
Accounting Software for Big Business
These software are also known as high-end accounting software. They are generally used in big corporations functioning in multiple states or countries. The biggest advantage of high-end software is that they allow great networking and have 'n' number of applications that can be accessed from anywhere. These software are very complicated and extremely flexible when it comes to broader use, and hence, they are very expensive as well.
Apart from this, there are other accounting software, such as mid market accounting software, vertical market software, hybrid solutions software, etc., that you can install if it suits your business type.
List of Accounting Software
There are many companies that manufacture different types of accounting software. Given below is a list of software that are endowed with different applications:
Low-End Accounting Software
  • Vision Point 2000
  • QuickBooks Pro 2002
  • Peachtree Complete Accounting 2004
  • M.Y.O.B. Plus for Windows
  • Business Works
  • Business Vision 32
  • Small Business Manager
  • Oracle Small Business Suit
  • Quick Books for the Web
  • Simply Accounting
  • ePeachtree
  • MAS 90 and MAS 200
  • ACCPAC Pro Series
Mid-End Accounting Software
  • ACCPAC Advantage Series Corporate Edition
  • Accoutmate
  • Navision
  • Solomon
  • SouthWare Excellent Series
  • Traverse
  • Great Plains
High-End Accounting Software
  • Axapta
  • Epicor
  • e-Business Suite
  • MAS 500
  • Lawson Enterprise
  • One World
  • Oracle Financials
  • People Soft
  • SAP R/3
It is advisable to buy a standard software from an authentic dealer.