The best practice of accounting in today's world is to have automated accounting practices. Books were initially paper based systems in accounting, but with the introductions of a wide varieties of accounting software, the digital file system and digital books are becoming a fashion. Accounting software not only helps in speeding up processes, but it provides you compact information about the performance of your organization.
It can be tough task to decide to get the best accounting software for your organization, but you can buy after studying the features of various accounting packages available in market and comparing their features. Accounting software not only helps large organization, but small organizations are equally benefited by an automatic system and there are many software which has been launched in the market to meet the requirement of small to mid-sized organizations.
Some of the common forms of accounting software available in market are:
Accounting software for small businesses: The bestselling accounting software for small organizations includes QuickBooks, Cougar Mountain Software, Tally and Sage. These packages have a highly developed financial module and other module is just integrated through a few limited features to the main accounting software. These packages have some basic features such as account receivable and payable, general ledger, inventory and payroll. The companies buying this software can fulfilled the basic need of automatic accounting through these packages. The cost of these packages for small businesses is low and implementation is also very easy.
Software that offer business management: If you wish to buy an accounting software that helps you to track the working of inventory, CRM, billing and ERP, then you can buy Microsoft's Dynamics, Sage, NetSuite, Oracle or SAP. The business management solution comes with a range of features to enable integration to HR implementation, CRM, inventory, production, and manufacturing and provide you a complete automation of each and every accounting activity. These packages are generally very expensive and the cost also depends on the number of features enabled.
Internet enabled accounting software programmes: The market has changed in many ways and vendors are looking to new markets to get new customers. To reach new clients the system should be web enabled and web hosted solution are equipped to provide you online web hosted accounting software. There are many software in this section such as Clarity accounting, Net books etc. If you own a small business unit and you have many shops at many geographical locations, you can buy a cheap web enabled package which has restricted features as needed by your company. You may even get industry specific package to meet your requirement.
Accounting software for free: You can also get accounting software for free. You can search for free accounting packages on internet. QuickBooks provides you the option, to own the package for free. QuickBooks can be used by twenty customers and it provides modules such as payroll, invoice generation, print checks etc.