Accounting software is used to record and report a business’s financial transactions to provide accurate, insightful, and comprehensive financial information to drive business decisions.
Every business needs to have an accurate way to maintain their financial data. The software you choose will depend on your business model and it must be agile enough to service your needs as your business grows and financial reporting needs change. Before you implement a system, look at the software options available and strategically determine your reporting and analytical needs now and in the future.
There are many accounting software packages, from off-the-shelf options for small to mid-size businesses to more complex customized offerings.
Consider if you need an on-premises software, hosted software, or if you can benefit from cloud-based options. Pricing options will range from subscription-based, per-user fee, or tiered rates based on service levels.
Sage Intacct is a cloud-based ERP system that can be customized to your business needs. The flexibility and automation of the software can reduce your reliance on spreadsheets and give you greater visibility into your real-time business performance. Advanced financial management capability is built in with modules for consolidations, project accounting, multi-currencies, revenue recognition, inter-company transactions and more. All of this enables finance professionals to increase efficiency and run your day-to-day business better. Sage Intacct can be customized to work in any industry.
Sage 50cloud Accounting (formerly Peachtree) gives you a small business solution that helps you take care of all your financial needs. Choose from Pro Accounting, Premium Accounting, and Quantum Accounting levels. Sage 50cloud is also applicable to small contractors for job costing, project management, and payroll. It allows you to automate your business processes and save time on everyday financial transactions, while giving you all the information you need to make essential business decisions.
Designed for companies that do not have an accountant on staff, CBS helps both cash- and accrual-basis clients manage their daily check writing, transaction recording, and business reporting needs. CBS is a full-featured bookkeeping software that follows accounting principles and has advanced capabilities such as online banking as well as vendor and payroll direct deposit.
QuickBooks software is built for small businesses with an option of an online or desktop version. Depending on which level of software you purchase, QuickBooks can help you stay coordinated with your bank, track your income and expenses, send professional invoices, and manage and pay your bills. There are automatic backups and security features built in.
Sage 100 Contractor is best suited for contractors and sub-contractors to track profitability by job including bonding reports required to report proper work-in-progress. This software includes scheduling, project management, equipment management, payroll and accounts payable, accounts receivable, and general ledger. This software can help your business make more effective use of its time through project tracking, reducing expenses through job costing, and the timelier collection of payments through simplified billing.
Handling all your payroll, tax preparation, and bookkeeping needs in-house requires staff who are experienced in these functions, as well as the continual updating of your accounting software. These are time-consuming tasks that can be easily outsourced to an experienced provider. You can outsource as much or as little of the work and ensure adequate internal controls to avoid any risk of having the same people perform multiple duties.
Learn more about SVA's outsourced accounting services.
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Implementing, upgrading, or changing your accounting software is a big decision that requires a comprehensive review of your current and future needs. Using our knowledge of various software options, we can recommend the best option to fit your budget and financial reporting needs.
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In your current environment, you may have staff shortages or are looking for ways to streamline processes. Whether you need a little back-office support or a full-service accounting option, SVA can create a tailored solution to meet your needs. Our outsourced accounting staff has years of experience providing bookkeeping and back-office support. Choose your level of support based on your current needs.
Learn more about our outsourced accounting services.
As your business grows, there is a point when you should review your processes by looking at ways to generate efficiencies and streamline workflows. Over time it is easy to become comfortable with functions, leading to stagnant procedures and disconnected data. SVA will perform an analysis that documents your internal accounting procedures and identify efficiencies and process improvements. This review includes an analysis of software, staffing, and processes. After an extensive review, we will outline efficiencies and opportunities and work with you to determine the next steps.
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Accounting accuracy is required for every business as it measures the organization's financial health. The eGuide discusses the importance of accounting software and procedures, and why data processing is an essential part of it all.