Financial accounting software is an essential part of any Enterprise system, including modules to address the primary accounting areas of General Ledger, Accounts Receivable, and Accounts Payable. The most comprehensive examples of financial accounting software suites also include companion modules that add Cash Management, Currency Management, Tax Management, Deferred Revenue Accounting, Inter-Company Accounting, Recurring Revenue Management, Fixed Assets, and Payroll Management for a more complete solution.
The state-of-the-art in modern enterprise applications is to deploy web based accounting software in a Software-as-a-Service model (SaaS accounting software) for flexibility, and security in an affordable package. Web based accounting software is familiar and easy-to-use with browser-based access users will take to quickly, and allows access from anywhere, at any time, from any device with a browser. Industrial-strength security and access control let you sleep at night with no worries about the safety and availability of your sensitive financial information.
You will definitely want financial accounting software that is designed and built as a comprehensive suite of applications. The real power and benefits of this approach is through the magic of integration. In a financial accounting software suite, data, activities, and information are entered only once, at the place and time that the events occur, in the application that is designed to enable that activity. Integration then passes the appropriate data to any and all other applications in the suite so that all are in sync. The data is consistent across the entire suite of applications, information is immediately available wherever it is needed, and full audit trails can trace back (drill-down) from the highest level summary reports right down to the original event or entry, including the date, time and location, user ID of the person making the entry, and any attached documents or comments.
This powerful integration can and should be extended through the entire organization when the financial accounting software suite is part of a fully integrated enterprise system like the Acumatica Financial Management software system. Accounting transactions initiated in purchasing, sales order management, inventory management, in production, in project management, service management, and more are seamlessly linked into the financial modules for the same timeliness, accuracy and detailed audit trail you expect within the financial accounting software suite. No duplicate entry is required; entries flow immediately to the financial system, and direct links from general ledger journals and summary reports trace back to the original activity in the operational modules.
Your financial accounting software belongs in an integrated enterprise system where the look-and-feel in consistent across the entire system, where information is instantly available throughout the system through a single shared database environment; and where full detail is always available for analysis, auditability, and system integrity.