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Accounting software

Accounting software is an accounting and finance solution designed to automate cash management, receipts tracking, VAT reporting and general accounting (accounting entries, outsourcing, balance sheet, income statement, etc.).

Need any advice? Discover all our articles of Accounting
Professional group
Accounting & Finance
Operations Management
Sales & Customer Management
Human Resources (HR)
Marketing
Collaboration
Accounting & Finance
IT Services
Communications
Finance
Analytics
Construction
Transport
Technology
Legal
Education
Health
Recreational Activities
Association Management
Commercial
Services
Agriculture
Art
Media
Government
Corporation
Manufacturing
Law
Category
Accounting
Accounting
Billing and Invoicing
Subscription Management
Payment Gateway
Expense Management
Accounts Payable
Corporate travel management
Debt Collection
Audit
Purchasing
Financial Reporting
Asset Tracking
Contractor Management
Bank reconciliation
Cash Register
Financial Fraud Detection
Trust Accounting
Compliance
Financial Risk Management
Accounts Receivable
Budgeting Software
Risk Management
Anti-Money Laundering
Tax Management
Revenue Cycle Management
Mortgage and Loans
Trading
Treasury Management System
Billing and Provisioning
Utility Billing
Order Entry
Enterprise Asset Management (EAM)
Payment Processing
Business Card
Business Relationship Management
Online Bookkeeping Services
Investment Management
Management Control
Job Costing & Cost Management

Compare software systems of Accounting

Dext

Manage your supplier invoices in one click
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Esker | Procure-to-Pay

cloud-based document process automation software
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Eurécia Notes de frais

Refund business expenses easily
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QuickBooks

The world's leading accounting software for small businesses
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Odoo Accounting

Accounting Suite of the most complete ERP on the market
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Momenteo

Accounting Software for Freelancers
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Sage Business cloud accounting

All accounting with the convenience of the cloud
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Azopio

Collect and Connect your documents to the Cloud
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Zervant

Free invoicing for small businesses
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Evoliz

Quick creation of professional quotes and invoices
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Spendesk

Helping companies spend smarter
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Holded

Smart invoicing for businesses
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NetSuite

The #1 Cloud ERP for implementing your scalability
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Factomos

BIlling for small/medium businesses and entrepreneurs
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Xpans

Digital solution to manage your profesional expenses
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billwerk

Subscription Management & Recurring Billing solution
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Declaree

Expense Management Software
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Sage Compta & Facturation

Easy online management of quotes and invoices
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Sage 50

Be the boss of your accounting
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FreeAgent

Accounting software simplified
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Accounting: purchase guide

What is Accounting Software?

Definition

Accounting software is an IT solution that facilitates bookkeeping and financial management for companies. It can range from simple quotes, invoices and cash management all the way to the complete integration of general accounting tasks.

How does it work?

Accounting software is designed to automate and internalise all or part of the services of your accountant (debit and credit accounting, financial advice, accounting documents) as well as routine administrative operations (creation of quotes, invoices, voucher orders, supply management, collection of invoices and expense reports, tracking payments, etc.).

Accounting software offers a financial view. This is why it is different from commercial management software and invoicing software. Moreover, it interprets the financial impact of current operations. And, it is particularly recommended for small companies (startups, TEPs, self-employed) and medium-sized companies (SMEs, SMIs) that need to keep track of transactions occurring on their bank account or the state of their finances in real-time.

Main Features of an Accounting Software

The features of accounting software play a key role in the economic development of your company or your association.

Make Simplified Payments via a Paperless Platform

To facilitate exchanges between your partners or customers and your company, some accounting software programmes offer the possibility of making payments via an electronic payment platform. The transactions of your accounts are directly integrated into your accounting records to automate bank reconciliation and lettering. These exchanges are completely secure which allows you to make payments without worries.

Commercial Management and Billing

Accounting software integrated into a CRM system goes a step further by simplifying commercial management (quotes and automated invoices). In some cases, you can also conduct inventory management.

Whether you are self-employed, an artisan or a commercial company (self-manager, very small business, SME, large company), you will be able to keep track of your accounting to be fully aware of your company's financial status. In line with the work of your accountant, you can prepare your balance sheet, income statement and general appendix with much greater ease by regularly updating your accounting software.

Who uses Accounting Software?

Any company starting from one person upwards must use accounting software, even if it is only for the preparation of estimates & invoices, payments and the follow-up of late payments. Medium-sized companies use accounting software as a financial management tool. Finally, larger companies use accounting software to internalise all of their accounting processes.

Why use Accounting Software in Business?

Benefits of Online Accounting Software

Using accounting software ensures efficient response to functional needs in general accounting and offers the possibility of analyzing your results (cost accounting). Much more convenient than Excel, accounting software:

  • Saves time by automating common accounting operations
  • Allows you to reduce your accounting costs by internalizing services provided by external accountants
  • Facilitates the completion of balance sheets
  • Helps track third-party accounts
  • Ensures compliance with legal obligations. They meet a need for rigor and transparency required for all American companies
  • Monitor incoming and outgoing payments to and from your bank account as well as fixed assets on a daily basis
  • Updates accounting documents whenever they are modified in the general ledger
  • May be used in conjunction with the work of a certified public accountant. Some programmes give your accountant access to your corporate accounts so that they can perform your company's accounting by taking into consideration the data integrated into your online software.
  • Facilitates Tax and VAT reporting procedures and declarations.
  • Helps you make the right decisions by having a realistic view of the state of your company's finances, but also by allowing you to project new investments.
  • Keeps you up to date: SaaS accounting software (online) does not depend on your operating system and updates are done automatically.

Cons

  • Open Source accounting software does not always comply with the latest financial regulations.

How to Choose?

Criteria

Here are some important features to consider when choosing the right accounting software:

  • Good interface ergonomics: It must be easy to understand and very simple to use. Online accounting solutions are becoming more and more intuitive. Therefore, it is essential to avoid choosing a commercial management software that complicates your accounting. 
  • Entering accounting entries: This is the main action of your accounting software and this should be done quickly so you do not waste your time on a daily basis with data input. Opt for basic data entry with the possibility to import and export your data so that you can use the figures if you are in a meeting or with your accountant who will carry out bank reconciliations more easily.
  • Third-party account monitoring: It is important to stay up-to-date on transactions between your company, your partners and your employees.
  • VAT return if you are concerned. 
  • The creation of an analytical forecast: this informs you about the possibilities of your company and gives you a long-term view of the potential development of your business.
  • The ability to export accounting entries and to develop a tax package more easily.
  • The dashboard gives a synthetic view of the accounting situation of the company

What are the most commonly used accounting software? 

Accounting software is a tool that plays a strategic role in the decision-making process. It takes into account: production cost, ROI and margins, etc. For external partners, it is used to provide a vision of the potential evolution of your company's value: balance sheet, income statement, cash flow. Discover our accounting guides today!