ERP Software

Web Based Accounting Software

If you are a small business owner with a limited software budget, you may be searching for an accounting software package or product suite that you can run within your existing software landscape and purchase or download from the internet at little or no cost.

There are several web based accounting software programs available to you if you fall into this category. But before you begin your research, consider the possibility that your budget may be holding you back unnecessarily. Don’t completely rule out a more complex accounting software package, even if it comes at a slight cost, since the product may provide a significant return on your investment.  Also, once you commit to a specific product or package and train your employees on that package, it may be difficult to make the transition later if you find a better package that’s equally affordable but offers more of what you need.

As far as web based accounting software packages are concerned, consider the following names as you begin your search: Adempiere, BluERP, Compiere, LedgerSMB, Apache OFBiz, Dollibar, and Front Accounting. Each of these are established names in web based accounting software and each package is designed for small and midmarket use. Many of them can integrate easily into your existing software landscape, and all of them offer web based functionalities.

As you investigate each of these to see how well suited they are to your accounting needs, the next step is an evaluation of those needs. Some accounting features are vital to almost any small business model, no matter the industry, and some are industry specific and may not be necessary for your enterprise.

At the most fundamental level, you need a single or double entry ledger function that will allow you to enter and record transaction data. Ideally, your web based accounting software program will calculate your transaction and sort it into the appropriate journal without error. You may need to track your payable and receivable accounts and reconcile balance statements from multiple bank accounts, and you may need to track other accounts as well, such as mutual funds or stock funds. A good web based accounting software program can facilitate this. Accounting software should also provide you with budget and planning features and comparison charts so that you can measure the benefits of a variety of loan, financing or investment options.

At higher levels of functionality, web based accounting software programs should provide you with file back up and security options, currency translation features, and inventory control tools. More complex business management tools like the ability to track asset depreciation are available in more complex accounting packages that may also accommodate requirements specific to your industry.

Erin Sweeney

Written by :

tracey boxer