What is Accounting Software?

Accounting software is a digital tool designed to record, manage, and report a business's financial transactions. It provides accurate and comprehensive financial information, helping business owners and managers make informed decisions. Features often include accounts payable, accounts receivable, general ledger management, payroll, and financial reporting. By automating manual tasks, accounting software improves efficiency, reduces errors, and ensures compliance with financial regulations.

Business Accounting Software | Bookkeeping Software

Do I Need Accounting Software?

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.

What Benefits Will Accounting Software Provide?

Detailed tracking of financial transactions
Better understanding of your organization’s strengths and weaknesses
Automated reporting and analysis
Decrease of manual tasks reducing staff time
More accurate financials for audit preparation
Quicker decision-making process through timely reporting
Less manual spreadsheets used outside of the system

Types of Accounting Software

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 Intacct

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 client accounting services.

Does Your Business Need a More Comprehensive Technology Solution?

SVA Consulting offers a full line of technology solutions for enterprise organizations needing more advanced automation, capabilities, and scalability.

Services Offered: How SVA Can Help

Business professionals need easy access to information to make timely decisions. SVA has what you need, when you need it. Choose a topic below or just contact us directly. Our expertise is ready anytime you need it.

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.

BIZ TIP: Software Matters - Make This the Year You Streamline Your Accounting Software

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 client 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.

BIZ TIP: Why Business Owners Should Regularly Upgrade Their Accounting Software