If you are running a big business, then accounting is a key function in your organisation. It is imperative that you use the best accounting software, so your accounting is done impeccably. The regular market solutions will not do, since most of them are meant for small businesses. We have a recommendation of five of the best software specifically meant for you.
The five best big business accounting software
1) NetSuite ERP
Oracle’s Net Suite ERP is an ERP solution that offers automation benefits at the enterprise level. Businesses using this software can manage their accounting operations better. It is a financial platform that can be expanded to other business areas. This accounting software works on the cloud allowing you to use it any time and from anywhere.
The pros of using this accounting software are:
- The software has features for custom process flows.
- The dashboards are intuitive, simple, and easy to manage.
- CRM features in the software are strong making it very useful for big businesses.
- Management can easily get insights into financial performance.
- Supports compliance on a global level.
There are a few cons that include:
- The help system is a bit tough to navigate.
- Configuring for specific roles can be an issue.
NetSuite ERP is a complex system, yet easy to use. This makes it suitable for different types of organisations. The software is highly rated and has won many awards. The rich collection of features it offers is the reason for its popularity.
Acumatica is a Cloud ERP that is best suited for large organisations in the manufacturing sector. Apart from helping you handle general ledger accounting and inventory management, it also features enterprise resource planning. The company offers a flexible pricing model, which is one of its key features.
The benefits of using Acumatica are:
- You can use it on the cloud or even deploy it on-site.
- Different costing methods are available.
- The reporting is a highlight.
- Features like non-user-based pricing are very helpful for growing companies.
- The app is browser-based and is also easy to use on various devices.
- Offers easy navigation.
The limitations of Acumatica include:
- For companies outside the manufacturing sector, third-party add-ons would be needed.
- The pricing structure is a bit unusual.
Acumatica is a SaaS application that offers powerful financial features. Generally, the software is based on the number of users but Acumatica prices are based on resources. Custom options are available that are very handy. The intuitive design and its scalability are key features that make this a product you must consider for your accounting needs.
3) Account Mate
If you are looking for solid accounting software that is feature-rich, then you can look at Account Mate. Interestingly, they don’t deal directly with clients but work with a solutions partner. The software is completely modular, which makes it easy to implement. It is very easy to configure the software so that it meets all your requirements. Customisation is a key feature.
The advantages of using Account Mate include:
- The report features and report export features are useful.
- The online training and help features are quite extensive.
- The transaction drilldown is great.
- It is capable of creating a powerful audit trail.
- It is plain yet powerful in functionality.
There are some disadvantages you need to know:
- There are no true dashboards for the software.
- Process flowchart navigation is absent.
- You need to configure task shortcuts.
As an ERP, Account Mate has different modules that are useful for big organisations. When it comes to accounting, the vast features of this software make it perfectly suited for all your needs. Compared to many others in the field, it is not very flashy, but does its job solidly. The e-learning features and the report filtering options make it software you must consider buying.
4) SAP Business One
Business One from SAP is an old-school ERP that has been in use for a long time now. As a part of its ERP functionality, it offers accounting features. It is ideal for large businesses whose scale of operations would call for a fully functional ERP. For a mid-size business, it calls for a lot of customisation before use. The accounting core is fairly solid and will meet all your needs.
When you use SAP Business One, the benefits are:
- A wide range of customisation is available.
- The documentation is extensive and very useful as a training resource.
- Complex business analytics are available.
- Custom reporting is possible.
- Benefits administration is a feature that can be used.
- Multiple currencies can be used.
Some disadvantages of this software are:
- The customisation can be a bit painstaking.
- Works only on Mozilla, which can be a problem.
- Configuration may require help from the reseller.
SAP Business One is rich with features and with so many functionalities, it can become a bit overwhelming. It is not as easy to use as QuickBooks and the like. The implementation process takes quite some time. The expenses are also more, but since it is a full-fledged ERP there are many benefits.
5) Open Systems Traverse
Traverse is one of the top players in the large business accounting space. Because of its age, UI design may seem a bit jaded. However, its features compensate for it. The software is modular and is based on the Windows platform.
The pros of this software are:
- Can easily customise forms and reports.
- Can choose a hosted or in-house option.
- The help and documentation are great.
- Working trial balance is also available.
- Very open pricing plans.
The cons of this software are:
- Process and flowchart navigation is absent.
- Setting up reports can take some time.
Overall, Traverse is a very capable financial software. This platform is definitely worth considering even though it is fairly old.
Having gone through the features and benefits of all this software, you would have a clear picture of each of them. You can now decide which of them is ideal for your business. Choose the software that will meet the needs of your big business perfectly.