Best Core Accounting Software

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Last updated: Dec 17, 2018

TOP 10 Core Accounting Software

1. QuickBooks

  • Best for: Start up, Small business, Medium business
  • Price: Starting from $250 Per license
  • Sep 25, 2018
Compare QuickBooks Vs. QuickBooks

QuickBooks Premier 2013 is an accounting software that designed by Intuit and released in 2014. The application is aimed at keeping business financial records in order. The software is quite easy to use and does not necessarily require any accounting background for using it. It has a very simple int


2. Tipalti

  • Best for: Small business, Medium business, Large business
  • Price:
  • Dec 06, 2018
Compare Tipalti Vs. QuickBooks

Tipalti is the only end-to-end solution that streamlines the entire accounts payable and supplier payments operation. More than just a global remittance engine, Tipalti also provides supplier onboarding and vetting, digital tax form collection and validation, invoice processing, proactive supplier c


3. Multiview Financial Software

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Oct 10, 2018
Compare Multiview Financial Software Vs. QuickBooks

Multiview Financial Software is an accounting system that can fit businesses of any size. This software suite features many different core modules designed to improve your bottom line. The Multiview Company is located in Ottawa Canada and is composed of a small but focused work force. It is hea


4. Wave Accounting

  • Best for: Start up, Small business
  • Price: Has free version
  • Apr 14, 2018
Compare Wave Accounting Vs. QuickBooks

Wave Accounting is a free application that startup and small companies would find helpful for their day-to-day finances or accounting processes. It comes with varying features that make work faster and easier even with little to no accounting background. From taking care of your invoices, accounts p


5. Adminsoft Accounts

  • Best for: Small business, Medium business
  • Price:
  • Apr 05, 2018
Compare Adminsoft Accounts Vs. QuickBooks

Adminsoft Accounts is an accounting management solution for small and medium businesses. Its capabilities include billing and invoicing, general ledger, cash management, and others. The software was designed and launched by Adminsoft Ltd headquartered in Auckland, New Zealand.


6. MoneyDesktop

  • Best for: Small business, Medium business
  • Price:
  • Apr 25, 2018
Compare MoneyDesktop Vs. QuickBooks

Our unique combination of practical experience and subject matter expertise enables us to provide innovative solutions that create a positive and lasting impact on your overall strategy, reputation, and growth MoneyDesktop enables financial institutions to increase good loan volume, attract new and


7. MultiCHAX

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Mar 28, 2018
Compare MultiCHAX Vs. QuickBooks

MultiCHAX is a check printing solution for small and medium businesses. It manages printing of payables and payroll checks along with MICR coding. The software was developed and launched by CHAX Inc headquartered in California, United States.


8. bkper

  • Best for: Small business, Medium business
  • Price:
  • Apr 07, 2018
Compare bkper Vs. QuickBooks

bkper can be used to manage household finances, small business accounting or for expense reports, keeping track of expenditures, distance travelled or time spent by your team, in a centralized way. It works together, sharing the same book with your peers, bringing transparency, accuracy and agility


9. AccountMate SQL Software

  • Best for: Small business, Medium business
  • Price: Starting from $4,000 Per license
  • Dec 17, 2018
Compare AccountMate SQL Software Vs. QuickBooks

AccountMate for Express is designed for small businesses that desire the stability and speed of SQL Server without incurring the expense of SQL Server licenses and will have up to five concurrent users. AccountMate for SQL is designed to accommodate hundreds of concurrent users. There is no built-in


10. Logisuite Financials

  • Best for: Small business, Medium business
  • Price:
  • Mar 29, 2018
Compare Logisuite Financials Vs. QuickBooks

Logisuite Financials is a package is accounting and logistics management system for businesses of all sizes. It also offers a wide range of operation modules integration and web tracking services. The software was designed and launched by Logisuite Corporation headquartered in Florida, U



A Buyer's Guide to Core Accounting Solutions

Accounting Software Buyer’s Guide
 
Whether you’re in a small business or a corporation, accounting and financial systems are essential backbones of your operation. Income statement, balance sheets, and tax declarations all rooted from one important department – the Accounting. The intensifying campaign of public and private authorities against financial frauds is a loud call for all businesses to strengthen their accounting measures.
 
In compliance to Generally Accepted Accounting Principles (GAAP), the purpose of accounting software is to consolidate accounting processes into a single information system. It is a financial management solution that caters a variety of financial programs for any industry and size of organization. Whether you will be getting it for free or on a premium-based subscription, you need to be cautious when getting your accounting software. So here’s the Buyer’s Guide from ITQlick.com that will give you more insights about accounting solutions.
 
Types
There are two important factors to consider when deciding on which accounting solution is to acquire. First is the type of market where you operate and second is the type of application that you need. It is highly recommend that you start with identifying the market base on the size of your business and then proceed with pointing out what applications are really needed by your business.
 
By Market Level
 
Personal Accounting
It is simple and basic, good enough to manage your accounts payable, receivable and budget. It’s for a start-up home-based business.
 
Low-end Market
Types of software on this market have general accounting functions – general ledger, bookkeeping, etc. However, since they are low-end systems, they may not be GAAP compliant and their security features are very adequate.
 
Mid-market
If you’re looking for industry-standard accounting system, it’s on the mid-market category. Other than general accounting functions, this type of software can be purchased bundled with other management information systems.
 
High-end Market or Tier 1
Highly customizable, complex and expensive are what describes accounting software under this market. Usually part of a more sophisticated Enterprise Resource Planning (ERP) system, high-end accounting solutions also require high level of implementation.
 
Vertical Market
If you’re a niche market (banking, construction, real estate, etc.) player, then an industry-specific accounting software is for you. Software under this market are generally custom-built.
 
Hybrid Solutions
Both features of the mid-market and high-level market solutions are on this accounting solution. It has the features of the technology like SaaS and of ERP systems that have advance customization and extreme scalability.
 
By Application Type
 
In software development, different business transactions will have their equivalent software modules. Accounting solutions follow this practice by segmenting an accounting system into different modules or sub-systems base on their application. Here are the available accounting solutions in the market today.
 
  • Core Accounting
  • Project Accounting
  • Fund Accounting
  • Inventory Management
  • Billing and Invoicing
  • Budgeting and Forecasting
  • Fixed Asset Accounting
  • Fixed Asset Management
 
Whether you’re looking for a basic system, an enterprise solution, or industry-specific, best-of-breed solution, concrete knowledge and understanding of the market and of the different software applications available are keys to your smooth, well-executed software purchase.
 
Features
When it comes to features, your accountants and CFO can greatly help in figuring out if a solution has all the functions and characteristics needed by your business. Invite them into your kick-off meetings and find out if these features are available in your prospect solution.
 
Accounting and Business Features
It doesn’t necessary to be an all-in-one package. But the basic accounting tools plus the non-core accounting modules that are important in your everyday business operation such as purchase requisition, timesheet, and payroll must also be available in the system, if not all.
 
Time-Saving Features
When talked about convenience, an accounting system must not be difficult to use. Features like automated billing, customer’s online access to their accounts, and wide options in reporting must be available. Automation and time-saving always coincides.
 
Remote Access and Mobility
Check if the accounting software has mobile versions and ensure that these versions are compatible with the type of phones your employees are using – iPad, Android phones, Windows-based. Remote support offered by the Virtual Network Computing (VNC) technology is a feature that you should also consider.
 
Add-ons Business Services
Credit and debit card processing, e-commerce website integration, and payroll processing are just some of the additional features present on much modern accounting software.
 
Solutions per Market, per Vendor
Excellent sources of information for accounting solutions are websites, like ITQlick.com, that publish reliable reviews, rankings, and benchmarking. Expensive software doesn’t mean that it’s the right software for your business. Inexpensive and even free solutions cannot guarantee you a fool-proof accounting system but they could be the right solution. Review this benchmark prepared by ITQlick.com experts for more information.
 
Vendor Accounting and Business Time-saving Remote Access and Mobility Add-on Services
 FreshBooks 10 9.38 10 7.5
 QuickBooks 8.75 10 9.38 8.75
 SageOne 10 8.75 6.25 8.75
 Zoho 10 8.75 8.75 6.25
 Xero 10 6.25 8.75 8.75
 AccountEdge 8.75 9.38 5 7.5
 Less Accounting 8.75 8.75 6.25 5
 WorkingPoint 8.75 7.5 8.75 3.75
 FreeAgent 8.75 7.5 6.25 5
 Yendo 7.5 7.5 6.25 5
 
Above vendors are offering cloud-based solutions and are between the low-end to mid-market level. On the other hand, top players (and their product) in the mid-market are Sage ERP 300, Microsoft Dynamics NAV, SAP BusinessOne, Epicor 9, and Macola ES. High-level market (or Tier 1) leaders are Infor, JD Edwards, Lawson, Oracle, People Soft, and SAP.
 
Pricing Considerations
From the list of vendors in our benchmark sheet, both Zoho and FreeAgent have $24 per month per unlimited number of users’ subscription price. The average subscription price for these ten vendors is $17. With this average, a company with 25 users will spend around $5,000 a year. Still not accounted are the costs of implementation, customization, training, and support services. A client will roughly spend 50-200% of the price of software in implementation and consulting services. These are the variables to consider in the Total Cost of Ownership (TCO). Accounting solutions sold as part of a more complex ERP system will have a TCO from about $100K up to a whooping $50M.
 
Market Trends
The cloud technology is a hot trend in accounting software. Among of the reasons on why businesses choose to operate in the cloud today is because of lower upfront costs and faster time of implementation. Most accounting software today has comprehensive functionality. It is not just one or two modules but multiple modules on a single package.
 
Business intelligence tools with accounting software are on their way to development. This is about integrating system over system to maximize the efficiency of single but more powerful software.

ITQlick chart - 2019 best Core Accounting Software

2019 best Core Accounting Software | ITQlick.com
Finding the right Core Accounting software for your business
Proper Core Accounting software selections are the precursor to successful deployment and business growth. Finding the right Core Accounting solutions doesn’t have to be complicated, and it doesn’t have to take days or weeks of your time.

After researching over 5,000 systems, we can identify the best solution for companies of all shapes and sizes. ITQlick.com is 100% free for software buyers.


Most Popular Core Accounting software Comparison

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Specifications

QuickBooks Specifications

Name: QuickBooks
Company: Intuit
Address Intuit, Marine Way, Mountain View, CA
Software Type: Standalone, On Premise, Cloud
Typical Customers: Start up, Small business, Medium business
Business Area: Finance management
Platforms: Desktop, Mobile, Cloud

Tipalti Specifications

Name: Tipalti
Company: Tipalti
Address Sunnyvale, CA, United States
Software Type: Standalone, On Premise, Cloud, SaaS
Typical Customers: Small business, Medium business, Large business
Business Area: Cross Business Areas
Platforms: Desktop, Mobile, Cloud

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