Different types of accounting software that a business needs according to its size

Different types of accounting software that a business needs according to its size

Getting a business software depends on the type and size of your business hence it is necessary to learn about different types of accounting software that a business needs according to your size so you find the right fit.

To know what type of accounting software your business will require you will have to put your business in category that it belongs to; small, medium or large.

What are the types of accounting software?

  • Payroll and accounting

It is a type of software that carries out functions like

  • Standard accounting tools and reports
  • Cash flow calculator
  • Drag and drop formats
  • Multiple users
  • Industry specific modules for construction, distribution and manufacturing
  • Enterprise resource planning

This is a complete business management software that takes care of

  • Standard financial tools and reports
  • Points of sale
  • Inventory control
  • Billing and purchasing
  • Customer relationship management
  • Industry specific modules for construction, distribution and manufacturing
  • Premium

It is a basic accounting software that takes care mainly only of accounting

  • Limited accounting features like creating invoices and print checks
  • More features require paid subscription
  • Submit your personal and company data download
  • May include submitting credit card data

There are other types of software as well but that is not primary when we discuss about types of software according to the size of the business.

Let us discuss about the software for types of business in details.

  1. Entry level accounting software

The entry level software are the products that are used by micro business and lone entrepreneurs with very few employees upto 5 or less. It has functions like account payables and accounts receivables and basic financial reporting. These are one of the most affordable software and provides trial packages like any other software. Even with limited features they are very sued for entry level micro business as it manages most of the accounting part of a business as small as that.

 

  1. Small to medium business accounting software

The small and medium business accounting software along with basic features includes additional modules that makes it more advanced. Some of the small and medium business can perform all the tasks of a business making it even a one-stop solution but many of the software of this level takes care of inventory, human resource, point of sale, purchases, billing, tax and payroll. It performs much more than just financial accounting functions.

 

  1. Enterprise accounting software

These are mainly known as ERP software of Enterprise resource planning software. These kind of software usually manages large business. They come as a complete software that manages every department and every function and process in the business. ERP software manages your business from every side tracking every function and process. It is an intelligent software that helps you take better decision and leads to more profit and more sales. It is also available for small and medium business that comes with advanced features. ERP integrates with existing software and helps in better workflow and informed decision making faster.

 

Reach accounting software for small and medium business

Reach is an accounting software that is cloud based. It is a complete accounting software that helps in managing accounting, inventory, invoices, sales, purchases etc. It is a smart accounting software that helps you make better decisions and helps gain more profit. Reach is a feature rich software, it is user friendly can be customized with ease and is accessible from anywhere and any device.

Features:

  • Order management
  • Manufacturing management
  • Warehouse
  • Point sale
  • Lots and barcode management
  • Project
  • Accounting
  • Invoicing
  • Multi branch
  • Purchases
  • Sales
  • Access
  • Multi company
  • Auditor view
  • Mobile application
  • Business automation
  • Operations and process
  • Loyalty management
  • Addons
  • Tally import

Benefits for SMEs can enjoy by using Reach accounting software:

  1. Customizable

Reach is easily customizable with any business and it can be customized for free unless it is a type of customization that only your business requires.

 

  1. Implementation

It is easy to implement Reach as it is user friendly and has simple steps in order to start using it. Thus your employees can start using it as soon as possible making the training period shorter for your employees.

 

  1. Accessibility

Reach is cloud based therefore it is easily accessible from anywhere and any device. This makes it easier for you to handle your business from anywhere even when you are not at work. Reach makes it easy for you to handle branches and multi companies.

 

  1. Safety

Your data is in complete safety with reach. It saves all your data in the cloud and auto backs up every 3 hours. It comes with bank level security of 256 bit encryption and also provides accessibility restriction menu so you can restrict areas within the software from your employees for more safety. Also it provides anti-virus hence you can save your system and data from any type of virus attacks.

 

  1. Support

Enjoy complete support anytime with Reach. Be it technical issues, doubts or anything Reach provides support round the clock to its clients so you can run your software smoothly.

 

  1. Cost effective

Reach is a affordable software unlike other software that provide similar or even less service that comes in heavy prices. Reach will take care of your complete business without turning your pocket lightweight.

 

For 15 days free trial click on>> demo

 

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