For the vast majority of human financial history, accounting was done manually. Skilled and accurate accountants were in high demand, but still, any process that relies on humans is, by nature, inefficient and prone to errors at least part of the time. But as the 1970’s rolled around, the growth of computerized data processing allowed for the emergence of AIS (accounting information systems).

These first software efforts were developed in-house at major corporations. Unfortunately, they were tedious and expensive to maintain, and seemed barely better than crunching numbers with a pen, paper, and calculator. Today, pre-built accounting software packages are an industry to itself. In India alone, dozens of companies compete for the consumer dollar.

Defining the AIS

What does a modern AIS actually do? We first look to Investopedia for a definition: “…the collection, storage, and processing of financial and accounting data by internal users to report information to investors, creditors, and tax authorities.”

In other words, it’s a computer-based (or cloud-based) software program that uses modern information technology to perform accounting functions based on traditional accounting practices and GAAP (generally accepted accounting principles). While software features vary greatly among vendors, one can expect to find a handful of foundational modules such as the following:

Revenue and Expenses:

Using either the cash or accrual method, the AIS tracks and categorizes money received by sales of products or services or funds that are spent for inventory or in the pursuit of normal business operations.

Customer Information:

Tracking customer demographics has become an important part of the AIS. Being able to identify the best customers and tailor your marketing more specifically towards them is great for business.

Employee Information:

A good AIS allows the user to perform payroll and HR duties in a fraction of the time it used to take.

Tax Information:

If it weren’t for tax requirements, there’s a good chance AIS wouldn’t have evolved to the extent it currently has. Automating the reports needed to collect and remit sales taxes, as well as calculate and pay income taxes are functions most modern business owners wouldn’t like to do without.

It’s All About the Database:

At the heart of any AIS lies a database. Think of it as a giant cyber bucket that holds all of your business information like sales orders, purchase requisitions, invoices, check registers, inventory, ledger, payroll, balances, and financial statements. Through the use of a specialized computer language, this information can be manipulated, reordered, segmented and more by user query. The system allows you to input new data as well manipulate old.

The Magical Output:

The magic (and power) of the system lies in its ability to produce data in varying ways depending upon a user’s needs. A few examples are in order. It’s easy to make use of customer information to generate accounts receivable aging reports and tell at a glance who owes you money and how long have they owed it. Do you need to know inventory levels at a warehouse several hundred miles away? Your AIS can tell you in moments. Likewise, it can create a variety of financial accounting statements in an instant like cash flow, an income statement, or balance sheet.

And there’s nothing complicated about it from the user standpoint. Most commercial accounting software programs are designed with the reality in mind that, often, the people who need to be able to use it are not advanced computer users.

Multi-Department Use:

Where a well-constructed AIS program really shines is in its ability to receive input from different departments (mostly medium and larger companies now) and coalesce it into the final output. Teams from sales, inventory, manufacturing, shipping, and customer service can interact with the software, upload data, download reports. The capabilities are light years away from the bad old days of a single accountant toiling away in a back room.

Which brings up another aspect of a well-designed AIS. We’re talking about internal controls or, more accurately, who can access what data? Since time immemorial, accountants have been concerned with the security and integrity of their company’s financial data. With an AIS, physical access limitations, login requirements, and segregation of duties across the company insure each employee only has access to the information relevant to completing their assigned duties.

The Bottom Line

It’s obvious from this discussion that accounting information systems have created incredible advances in the accounting field. Accountants and bookkeepers are able to accomplish more in less time and with fewer mistakes. For a business or entrepreneur looking to upgrade a system or buy one for the first time, take advantage of the free 30-day trial offered by most software vendors. That will give you a hands-on, real-world idea of how it will (or won’t) suit your needs.

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There are a couple of different ways to put accounting software to work for you. The traditional method is to have it installed on one or more computers at your place of business. Like any other software, information is stored on your machine and doesn’t have to be connected to the internet. In recent years, however, the ever-increasing popularity of mobile devices like laptops, tablets, and cell phones has created a demand for cloud-based bookkeeping solutions. The “cloud” is a term that refers to the idea of a software vendor making a single installation on their server and allowing clients to access it over the internet. There are pros and cons to each method. The trade-off for working in the cloud would be an increased perception of the risk of data breach, while working from a home office install limits accessibility when you’re away.

Small Business Accounting Software List

Best Accounting Software for Small Business: Tally

Possibly the most used accounting software in India today, Tally has enjoyed a prominent position in the hearts, minds, and computers of users for more than two decades. If popularity means anything, and it does, a business could do worse than to pick up a copy. While Tally has incorporated all the necessary features one would expect for any size business, we think it might be the best accounting software for small business.

Tally does offers Enterprise Resource Planning (ERP) solutions for any size of company, but it seems that the upper end features don’t compare favorably to what some competitors are doing. The basics are well-addressed: financial accounting, inventory management, POS, integrated banking, and payroll/HR management. However, if your needs run more towards a robust vertical integration that incorporates far-flung warehouses, scattered inventory sites, and multiple office locations, another software choice might be better.

But let’s not forget that more than a million users have chosen Tally already. That counts for a lot. Price is a one-time fee ranging from $360 to $1,080 USD, depending upon your particular need of features, with various monthly subscription add-on services. Small business owners and individual accountants love Tally and that, more than anything else, will make it hard for another company to unseat the king.

Best Online Accounting Software : QuickBooks

For years, QuickBooks has been the de facto bookkeeping software in the United States and other western countries, but now it sits poised to take on the Indian market. With more than three decades experience creating personal and business accounting software, there’s a good chance this company is poised to make some noise in India as well.

What does Quickbooks do well? A lot of things, it turns out, but Intuit (the parent company) has focused developing a top notch mobile and cloud experience that allows a user to do anything on the go they could do sitting at a desk behind a computer. Need easy invoicing and receivables tracking? Check. How about the ability to send receipts online, or automatically download and reconcile bank entries, with them already in the proper categories? Check.

While not on the cutting edge of ERP solutions yet, at least in the Indian market, Quickbooks is a whiz at day-to-day transactions and financial accounting tailored to the specific needs of India-based consumers. Not sure if you want to make the switch to QuickBooks? Take a free 30-day test drive of a fully-functional version of the software before you make the decision.

Best Cloud Accounting Software : Profitbooks

If you’re a small business in the mood for good cloud accounting software, Profitbooks might be your choice. Available only as an online solution, the creators remain concerned with providing complete accounting for small to medium-sized companies. Though it probably could be configured to work with a sprawling major corporation, more modest operations are definitely the market they target.

So what can Profitbooks do for your company? Here is a list of major features:

Accounts receivable
Accounts payable
Invoicing and billing
Collections
Expense tracking
General ledger
Payroll
Tax management

Perhaps the most appealing part of Profitbooks, especially to small business owners on a budget, is the price. Available for only $9.99 per month or $90.89 if you pay for a year at once, there’s no denying it serves as a low-cost option to implementing a full ERP strategy. Non-accountants love Profitbooks because it’s simple and easy to learn. Strangely, actual accountants love it for the same reasons. If public opinion matters, it’s difficult to find any detractors online, and the software has been favorably featured in PC Mag and The Telegraph’s Indian version. Definitely a contender for the solution to your search for the best accounting software for small business.

Marg:

For two decades, Marg Compusoft has been a well-known name to small and medium sized India-based companies when it comes to bookkeeping software and more. A lot more, in fact. Forward-thinking companies that seek to vertically integrate their entire information flow have turned to Marg’s ERP offerings in large numbers. Judging from online opinion, ours included, this company has proven itself efficient at trimming disparate vendor relations and creating a single point of contact.

A sampling of Marg’s features: financial accounting and inventory management, quality control, sales and distribution tracking, e-commerce (online store), inventory management, payroll and HR services, warehouse management, credit card processing, and invoicing and work orders.

Clients who choose this accounting software can pick and choose which level of features and service they need, with prices starting at $109 for a basic solution up to premium level at $545. Unlike some vendors, and in what may be seen as a downside, those prices are incurred annually rather than a one-time expense. Considering the time and hassle savings from being able to implement a one-stop data flow and accounting solution, an annual charge is not surprising.

Keep in mind that Marg does not offer online accounting software, due to security concerns. To those who can’t imagine not working in the cloud or from a mobile device, you probably should focus your search elsewhere.

HDPOS:

If you’re one who finds comfort in the cocoon of a Windows-based ecosystem, you’re in luck. HD Accounts & Billing Software (HDPOS) serves small, medium, and large clients through a familiar portal. This full ERP solution offers a main product, which can be easily tailored to suit a variety of accounting and billing needs, or choose from several pre-configured options that have been designed for a specific business type like a restaurant, school, or salon. This company’s focus is on providing an intuitive interface that allows customers to get up and running quickly.

This fully featured accounting software contains everything needed for your financial accounting, billing, inventory and customer management, personalized barcode printing, as well as the option to open a feature-rich e-commerce web store. HDPOS is intended to be installed to a local machine but also offers strong cloud accounting software for those who like the option to work from a mobile device.

Accounting systems from HDPOS are generally sold for a one-time charge. The basic system intended for use with a single cash register goes for $270, with increasingly higher charges for additional extra users and access points. Additional modules, like the one that runs an e-commerce store, are available for a monthly subscription.

Busy:

This appropriately named business accounting software claims 1.5 million downloads and counting. That number alone makes it a serious player in the accounting software field. While Busy has all the standard features – which we’ll get to shortly – one area where it stands out is the robustness of its built-in inventory management feature.

Regardless of the size of your business, Busy has a product designed with you in mind, a philosophy reflected in the Basic, Standard, and Enterprise versions. Basic is intended for a single-user and costs $112. Standard ($210) and Enterprise ($308) versions can be configured for single user, multi-user, or installed on a client server. Free 30-day trials are available during which a prospective client can try out a full-fledged Busy solution.

All Busy versions have all the standard accounting and bookkeeping features that a business needs. Higher price points tend to incorporate those related to multiple locations and product lines and currencies. This company’s long, stable history should reassure any buyer that they will get a quality, usable product.

Rather than disappearing after the sale, Busy offers follow-up service if there are any problems. The software comes with a one-time fee, though you can purchase an annual service contract after the initial warranty expires, if desired.

Saral:

While this online accounting software is perfectly suited for either the products or services sector, the Saral website itself mentions that it perhaps targets the latter more precisely. Currently, this particular software is configured only for a Windows computing environment and does not have the capability to access data from a mobile device. If you use a Mac or need to get at your data from anywhere, Saral probably is not the system for you.

However, if you can do all your accounting and business information management from a home-based install, this easy-to-use, frequently upgraded solution might be the one for you. The current Saral focus is also on providing a complete accounting solution to any size of business, which means you might not find all the ERP bells and whistles available through other vendors.

The bottom line is, if you need rock-solid accounting and inventory features that make it easy for even a new client to download, install, and begin taking care of business matters, the company would love your consideration.

The monthly cost for a Saral software solution begins at $75 per month for a single user and goes up to $233 for the corporate edition. As we mentioned, this software is probably more suitable for small to medium-sized companies and has not ventured into the complete ERP field yet.

Wave:

If you believe the May 2015 review of Wave software by PC Mag – and we have no reason not to – your search for the best accounting mobile app for small business might end here. As this industry, like so many others, continues to migrate away from installation solutions and towards cloud-based options, it won’t be too many years before mobile access will be a client demand for all accounting software packages.

For Wave, the future is now, especially if you run a small or medium-sized business. One thing that probably accounts for Wave’s increasing popularity is that it is free to use. You read right. The only charges you will run into are in the payments and payroll area, or if you choose to have premium level support for issues that arise. The trade-off for free, as you might expect, is the presence of ads on the right side of the screen.

Though Wave lacks some of the features users have come to expect from professional level software (Quickbooks or Freshbooks), a small business with basic accounting needs might feel right at home with this solution. It’s great for freelancers, sole proprietors, and businesses with up to about nine employees. If you’re bigger than that, you probably should look elsewhere.

Reach:

While this accounting software targets primarily small and medium-sized businesses, it has developed a loyal following for the way it bundles all business operations into a single, easy-to-use package. In addition to accounting functions, clients can access modules related to inventory management, invoicing, sales tracking, barcodes, and customer tracking, and more through a single interface.

One benefit to Reach is that, as a cloud-based service, it serves as accounting software for Mac or Windows. In a world where it is sometimes difficult to find options for Macintosh users, Reach is a welcome option. The fact that everything runs in the cloud, obviously, makes it accessible via mobile device and is in the running for best accounting mobile app for small business. In a world where feature differences between accounting software vendors is often small, sometimes it comes down to something as simple (and crucial) as being able to access your business data from anywhere.

Unlike some companies which prefer to charge a one-time fee, the use of Reach incurs a monthly expense that starts at $15 for a basic package with a single user and goes all the way up to $3,000 for a corporate version.

The Bottom Line

It is apparent from the preceding list that an Indian-based company seeking an accounting solution has many options – and our list isn’t even an exhaustive one. Your best advice is to not get in a hurry. Before you contact a single software vendor, sit down and figure out exactly what functions you need accounting software to be able to perform.

Some software targets small businesses and some go after the corporate market. Know what you are and tailor your search accordingly. If you’re a small freelancer it makes no sense to pay the extra money to integrate a full ERP solution. That’s just extra expense and complications you don’t need.

Likewise, a major corporation with offices and warehouses scattered around the world need a vendor who specializes in something larger than a mom-and-pop operation. Our last bit of advice would be to take advantage of the free trial offered by most accounting software vendors. It’s difficult to get a true feel for whether or not it will be an appropriate solution until you’ve taken it for a test drive.

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To say bookkeeping is an important part of any small business is to laughably understate the matter. Let’s put it this way. A business owner who does not take the idea of managing the company’s financial books seriously will likely soon be closing the doors for good. Proper bookkeeping is a huge component of operating a small business efficiently. As too many Indian businesses have learned the hard way, keeping records inefficiently leads to reduced profits at the least and bankruptcy at the worst. If you’ve never considered how bookkeeping contributes to streamlined, productive operations, we’re here to enlighten your day.

Daily Transactions

Whether you have a bookkeeper to enter daily bank transactions by hand or (hopefully) have installed one of the many fine accounting software options available that specialize in India-based small businesses, the goal is the same. You, as a business owner, need to know your bottom line at all times throughout the business day. If you don’t know the up-to-the-minute status of your business, how can you make reasonable decisions? The answer is you can’t.

Without a bookkeeping system in place that lets you know the business’s financial health at a glance, you might spend money that isn’t there, generating overdraft fees, high interest rates, or stern warnings from your banker – maybe all three if you’re having a bad day. Alternatively, you might be tempted to pass on a great opportunity if you’re unsure about what your cash flow looks like. A record keeping process that doesn’t keep close tabs on daily transactions as they happen is bomb ready to explode.

Invoices and Accounts Receivable

These days, it’s rare for a business to be able to operate on a cash-and-carry basis. Bill-me-later is a payment style that won’t be going away anytime soon. While a certain percentage of invoices will eventually be considered a lost cause that will never be paid, a system that incorporates processes to generate invoices and manage the accounts receivable ledger is a must have. Consider this. Every invoice that isn’t sent out due to this inefficiency is money lost. Lose enough and it will be tough to continue operations.

Chasing payments is part of a bookkeeper’s duties. An unpleasant part, perhaps, but necessary nonetheless. While most customers have every intention of paying what they owe, when finances get tight it’s easier to postpone paying the company that never reminds you about your debt. Don’t be that company. How well your invoicing and accounts receivable processes work to generate income are critical in keeping the doors to the business open.

Accounts Payable

On the flip side of accounts receivable are the accounts payable accounts, which are probably only of slightly lesser importance than the former. Accounts payable is another way of saying money you owe to product or service vendors and for overhead costs like insurance, office space rent, internet service, etc.

In some cases, there is a financial benefit to paying a bill soon, say within ten days. It’s not unheard of for a vendor to offer a moderate discount, often in the 10 percent range, for timely payments. Without a process in place to keep tabs on which bills need to be paid and when, you could miss out on significant cost savings. While 10 percent might not appear to be much at first glance, calculate it over the lifetime of your relationship with a particular vendor and you might be talking about thousands (or more) of dollars.

The All Important Cash Flow

We alluded to this issue earlier but would like to expand on the idea. Maybe the most important way bookkeeping for small businesses contributes to a company’s overall efficiency is knowing where that fluctuating bottom line stands at any moment in time, and being able to call up the boss and alert him or her to the financial reality, for example, that there is only enough money in the banking account to operate for another two days.

A low bank balance is something the boss needs to know, preferably with enough lead time that he or she can take action before daily operations are forced to shut down. Especially in the manufacturing industry, re-starting operations can be a lengthy, expensive, and time-consuming process best avoided if at all possible. Having enough warning to deal with a cash flow shortage in time to avoid a shutdown is one of the most important functions a bookkeeper can serve.

Preparing for the Accountant

In case you’re unaware, the job of bookkeeper and accountant are vastly different. As we’ve been discussing, the bookkeeper is in charge of keeping all the accounts up-to-date on a daily basis and ready for the accountant to see as needed. Accountants focus on making business recommendations, reporting regularly to the board (if required), and completing company tax returns. An accountant’s final work product, which reflects either well or poorly on the company as a whole, can only be as good as the financial records maintained by the bookkeeper.

A company does not want to run afoul of government regulations when it comes to tax issues or required record keeping. When looked at from this perspective, it becomes apparent that the quality of bookkeeping for small businesses is at least as important, if not more so, than any other part of the process.

The Bottom Line

It’s easy to put off creating a rock solid record keeping foundation for your company when you’re under the pressure of day-to-day decision making. In a perfect world, record keeping processes would be among the first concerns addressed before ever opening the doors for the first time. But it’s never too late to rectify the issue. Sooner is always better than later. Running low quality or incomplete books can not only run you afoul of government agencies, it can also be a drag on the very survival of your business. Keep your books current and of high quality. They can be the best business friend you’ll ever have.

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Unlike common use of these words, in accounting “credit” means to take away from and “debit” means to add to, so in this example the payment increases Cash by $100 and reduces Revenue (money owed to you) by an equal amount. This simple concept lies at the heart of Generally Accepted Accounting Principles (GAAP) in India and elsewhere.

Two Methods – One Answer

Due to its history of British Colonialism, India’s accounting practices are almost identical to those in England. While it does not incorporate the American idea of the Accounting Equation (Assets = Liabilities + Owner’s Equity), choosing instead to adhere to the three Golden Rules of Accounting listed below, the use of a double entry system of accounting remains the same.

The UK Golden Rules:

Real account – debit what comes in and credit what goes out
Personal account – debit the receiver and credit the giver
Nominal account – debit all expenses and losses and credit all incomes and gains

Finding a Numerical Balance

Regardless of which accounting system one employs, the end result is the same; the numbers between accounts must balance. Thus was born the double entry system. The first thing to keep in mind is that you never record a transaction with a single entry in a double entry system. This will throw your books out of whack and result in errors. For the accounts to remain in balance (which is always the goal), an offsetting entry must be made into an opposing account. This practice is where the term “double entry” comes from. Remember when we mentioned earlier the idea of debits and credits as related to accounting?

Retrieve that from your memory banks because we’re going to add to it.

With the double entry system, a debit must be offset by an equal amount credit and vice versa.

A debit has the following effect on accounts:

1. Assets increase
2. Expenses increase
3. Liabilities decrease
4. Equities decrease
5. Income decreases

A credit has the following effect on accounts:

1. Assets decrease
2. Expenses decrease
3. Liabilities increase
4. Equities increase
5. Income increases

By observing these effects on accounts, your books remain in balance.

Chart of Accounts

By now you may have noticed that the double entry system of accounting requires that a bookkeeper create a series of accounts to which debits and credits are made. Don’t be alarmed at the idea. Think of an account simply as a way of organizing the inflow and outflow of money from a company. The collection of all your accounts is referred to as the Chart of Accounts and may include such entities as cash, petty cash, accounts receivable, work-in-progress, finished goods, insurance, rent, computer equipment, utilities, notes receivable, depreciation, and more.

Depending upon the size and complexity of your business, the number and type of accounts can vary greatly. Creating a chart of accounts is necessary before any actual accounting begins, since this is where your transaction entries will be recorded. Let’s take a look at a simple double entry example, the payment of a utility bill.

DEBIT Utility Expense $500 (increase expense)
CREDIT Cash $500 (decrease cash)

Don’t be thrown off by the offset alignment of the debit/credit column. Accountants do this to make it easier to visualize. What we’re looking at is a situation where $500 has been added to the Utility Expense account, because it is money owed to a creditor. In this case, it’s the local utility company. Remember, in accounting terms, a debit means we increase the balance.

The offsetting entry for this transaction comes in the form of decreasing the Cash account by $500, which signifies money leaving your checking account to pay the utility bill. At this point you have recorded an expense as well as as the payment of the expense. The transaction is now complete and your books are in balance.

The Bottom Line

The double entry accounting method was developed as a built-in way to prevent errors, but even it isn’t foolproof. One side of the transaction could be posted to the wrong account or the entries could be reversed. In either case, the books might remain in balance but wouldn’t be an accurate reflection of the underlying business activity. The bottom line is that the double entry system has been with us for a long time (since about 918 A.D. Korea), long enough that it’s safe to assume it won’t be going away in the near future. Though originally implemented back when accounting was done manually, this system has made the transition to today’s modern software packages with ease.

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So what is accrual accounting? Entrepreneur.com defines it like this: “An accounting method that records expenses and revenue when they occur, even if you don’t receive the payment right away. The actual term ‘accrual’ refers to any entry recorded that doesn’t have an equal amount of cash entering or leaving the account.”

For anyone having trouble wrapping their head around that idea, let’s try to simplify. An accrual system of accounting is one that treats a sale on credit as if it were complete upon invoicing, even if the actual payment isn’t received for 30, 60, or 90 days, depending upon the terms. Same goes for an expense.

Revenue Accrual

Here’s a simple example of how accrual accounting works with revenue. Let’s consider that your business provided a service for a client. Maybe you’re a plumber and you unclogged a sink in their breakroom. If you immediately took the bill to the boss man or lady and asked for and received payment, you’d be engaging in cash accounting. With the accrual method, you perform the service, write out an invoice, leave it with the company, and go about your day. As mentioned, you will get a check for the work at some point in the future, depending upon the payment terms already established.

From the perspective of your business and accounting records, the transaction is done and complete, even though the cash for the job isn’t sitting in the account yet and may not get there for weeks. Cash doesn’t have to change hands. The sale is entered into the books when the invoice is generated. There are some downsides to accrual accounting, one of which is a business may end up paying income tax on money it hasn’t actually received yet.

Expense Accrual

With accrual accounting, expenses work in a similar way. Consider that same plumbing business orders a case of plastic pipe connectors from a wholesaler with which they have a long-standing business relationship. It’s the same idea but from the other side of the desk. Rather than generating an invoice for a service provided, the plumber receives an invoice along with the case of parts. The moment (more or less) he opens the invoice, the billed amount is entered into the books as if he already paid it, though he might not actually write out and mail a check for another two weeks or even a month.

This situation is also the reverse of the revenue example when it comes to cash availability. The money to pay for the parts is still sitting in the plumber’s checking account even though it is considered gone as soon the invoice is recorded. This is also the flipside of the tax issue of paying tax on money you don’t have. In this case, you can deduct the expense from your taxes owed even if you haven’t actually paid it yet. Taken together, the tax advantage/disadvantage probably evens out over the long haul. That’s the plan, at least.

What are the Advantages of Accrual Accounting?

In general, the cash accounting method is only intended for a small business or service company that operates on a cash basis. In the U.S., which has encouraged accrual accounting for years, it is the required method if your business has more than $5 million in annual sales or is structured as a corporation. If you carry inventory, such as with our plumbing example, you must use the accrual method. A business of any size that sells on credit should choose to accrue revenue and expenses. As we’ve seen, the seeming imbalance of cash flow and invoices evens out over time.

The story is different in India, where cash accounting has a long tradition and the concepts of accrual are just starting to be explored. Expect the slow migration of government agencies and private companies towards accrual to continue.

The Bottom Line

If you have any question as to which accounting method would work better for your business, we always recommend talking to a tax professional. They can explain the pros and cons of cash versus the accrual system of accounting.

The post What is the Accrual System of Accounting? appeared first on Accounting Software.

While Anvesha Infotech is a robust company that provides a variety of services such as web design, SEO, PPC, ecommerce systems, and app development, today we’re going to focus on one of the company’s flagship products, the online finance and accounting Enterprise Resource Planning (ERP) module. Broken down into service channels, Infotech allows a client the flexibility to choose how much (or little) their business needs in the way of features. The software has the capability to provide in-depth accounting services, but so much more. Let’s take a quick look at what is included.

Features

The Infotech accounting product offers the choice to either install it on a local machine or access it through the cloud and mobile devices. Regardless of which approach you choose, the following functionality and features apply.

* Bar code integration
* Sales management
* Email integration
* Financial accounting
* Invoicing
* Inventory management
* Report generation
* Employee management

Additionally, the software serves as the gateway credit card processor at the POS (point of sale), and allows the user to manage both employees and customers over multiple locations. More than a simple bit of accounting, Infotech offers the complete vertical integration of programs needed to manage your entire flow of information throughout the company.

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This accounting software is currently deployed across a number of industries such as real estate, banking, wedding, and dating websites, ranging from small mom and pop operations to multinational corporations with offices in multiple countries.

Of extreme importance to most potential clients is price. Anvesha Infotech doesn’t quote a price on its website, and a larger search of the internet revealed no clues in this area. While irritating to some extent, we do understand that the final price may range greatly depending upon the size of company and which particular services they want.

What you can count on is a free trial period of use that doesn’t require a credit card. This allows time to kick the tires and ascertain whether it’s a good fit or not. Though you can purchase maintenance service on a monthly retainer basis, Infotech accounting software is generally purchased for a one-time fee.

The Bottom Line

Anvesha Infotech is an India-based company which was formed in 2012. While there online reviews of the company’s products and services are rare (or non-existent), you shouldn’t let that stop you from taking a test drive if you feel motivated to do so. They do have testimonials and a well-planned website – although there are numerous language issues related to grammar and spelling in the copy. Hopefully, that doesn’t transfer into the software itself. Employing the services of a good English proofreader would likely take care of that problem.

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The post Busy Accounting Software appeared first on Accounting Software.

Busy pharmacists in search of a targeted accounting software solution that addresses the specifics of their business should take a look at ACME Insight. Medicine distribution is a complex business with a critical need to keep tight controls on inventory and know exactly what is on hand. Despite an unfortunate (perhaps) approximation of its name to the same one used by the company Wile E. Coyote relied on in the classic Roadrunner cartoon, we’ll let that slide for the moment. Accounting is serious business and this company understands that.

Features

We mentioned that ACME Insight is targeted at the pharmaceutical industry, but one should not overlook the fact that it works great for others as well. Satisfied customers from the general retail, architecture, grocery, consumer electronics, and other industries are counted as customers as well. Here are some of the main software features:

* Barcode integration for inventories and sales
* Customer and inventory management
* Financial accounting
* Invoice creation and management
* Gift card management
* CRM (this is a big one these days)
* Mobile integration for fast billing and making sales on the fly no matter where you are

Of course, there are more features. Too many to list within the modest goals of a single article. The overall point is that it will likely do whatever you need it to, and there is always the customization option should you discover a missing feature. One thing we like is that ACME Insight, though installed on a local computer, has a full-fledged app for both Android and iOS. Business owners can run multiple companies from the same install also.

Comments

While it’s always a little bit irritating when a software company makes it hard to find a price upfront, the free trial (with no credit card required) makes this decision a little more tolerable. They want you to call a discuss your personal situation before quoting a price. If this is something you can live with, you might want to give ACME Insight a spin. Online reviews report a positive experience and, ultimately, that’s what really matters. If you’re interested, the cost of a phone call and discussion with a company rep is a small price to pay to unlock a tool that could literally be the difference between profit and loss.

The Bottom Line

We should point out that secrecy behind price doesn’t mean that ACME Insight is not competitive in that area. In fact, one review posted by a small business owner complimented the company on being priced so reasonably. Despite its focus on pharmaceuticals, it appears to us that the software is comprehensive and well-designed to meet the needs of almost any capitalistic undertaking.

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Integra Enterprise Resource Planning (ERP) is accounting software and a whole lot more. As the ERP designation indicates, this company specializes in user-friendly applications for any operations ranging in size from a solopreneur to a multinational conglomerate. The standalone product is Integra ERP, but there are many variants to choose from that have been tailored towards specific industries and processes such as retail, production, and distribution. If you’re in the market for a vertically integrated data flow solution, this one might be worth checking out. Let’s take a look at some features.

Features

Included in the standard version of Integra accounting software are the kinds of features we’ve come to expect from industry leaders, including:

* Complete accounting functions
* Customer relationship management
* Warehouse and supply chain management
* HR and Payroll functions
* An intuitive dashboard to control it all
* Inventory and project management
* Purchasing

The Integra software is intended to allow a business to move from a sometimes-confusing spider web of vendors who provide various services to a single point of contact that incorporates complete information flow and manipulation within one service. This industry trend towards unity of process is understandable. Why make things complicated when they could be simple? Integra’s goal is to make interaction with the software so simple for the end-user that it fades into the background. Even those not especially technically adept can get up to speed managing such areas of the business as indicated above in short order.

Comments

There are a couple of ways you can go about trying Integra ERP before committing to pay the $500 one-time purchase price. The company offers a free version which, obviously, isn’t as powerful as the one you pay for. Still, it offers a chance to get a feel for whether or not this is a product with which you feel comfortable. Another option is to take advantage of the full-fledged software through a free trial period in which you can install it and take it for a real world spin just as if you were actually using it to run your business. All the reviews in the world probably aren’t as helpful as a few hours spent under the hood tinkering with it yourself.

The Bottom Line

This India-based company was founded in 1999. Since then, Integra has focused more on quality products than media campaign blitzes. Rest assured you won’t be left to flounder after the initial purchase. For a modest fee, clients can choose to have a representative available on site to show how to get the most from the software. No matter your business or accounting need, they’ve probably got a software to cover it.

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With an IT services history that traces all the way back to 1993, Logic ERP (Logicerp) offers clients a single information solution that includes point-of-sale (POS) and in-store management but also performs accounting, payroll, warehouse, and manufacturing tracking duties as well. The idea here, as explained by company Managing Director Swarndeep Singh to CIO Magazine in 2013 is to provide clients with a single point of contact for all their Enterprise Resource Planning (ERP) needs. In plain English, Logicerp specializes in allowing a business owner or corporation to keep all business processes under one roof and with a single point of contact rather than spread across a handful of vendors.

Keep in mind that the Logicerp software is intended to provide a complete and flexible solution for accounting and much more for companies with multiple offices in various locations and perhaps with a variety of products or services for sale.

Features

Potential customers have the option to choose from the following modules:

* Procurement
* Order processing
* Inventory management
* Warehouse management
* Supply chain management
* Payroll
* Accounting and Finance
* Promotions
* E-commerce and gift card management
* CRM and loyalty
* Point of Sale
* B2B orders

As you can see, Logicerp intends to serve as a single vertically-integrated information solution. Seems like a lot to take on. How well do they achieve this goal? Online reviews seem to indicate a happy customer base so, based on that, it’s probably worth at least a look.

Comments

We sometimes complain when a company doesn’t post obvious pricing, but in this case it’s understandable. The depth and breadth of Logicerp’s product line, and the ability for a client to pick and choose and customize what they need makes it almost a waste of time to try and generate a standard price without a discussion about a company’s specific needs. We’ll give them a break on withholding price.

If flexibility, scalability, and a dedicated problem response team makes a difference, you might decide to consider Logicerp for your information management solution. As with many vendors in this industry, you can take advantage of a free 30-day trial without supplying a credit card number.

The Bottom Line

Perhaps the best way to evaluate Logicerp is by taking a look at some of the mega-brands they have worked with: Disney, Reebok, Calvin Klein, and other clients operating at least partially in India. Logicerp has shown and ability to specialize in maintaining best accounting practices according to the legalities of both the United States and India. While this accounting software would likely work well for a business of any size, its track record does show a preference to provide solutions for large business concerns.

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