Only a few years ago, accounting applications lived on the desktop of the small business owner or an accountant’s computer. The books were not accessible from another location and only one person could view them at a time. Then cloud computing took off and business accounting software providers caught on.
In a computerized accounting system, the framework of storage and processing of data is called operating environment that consists of hardware as well as software in which the accounting system works. The type of accounting system used determines the operating environment.
Some of the most prevalent business accounting software systems are:
1. Tally.Prime Former Tally ERP.9: Tally.Prime Former Tally ERP.9 is a business accounting software for the purposes of accounting, inventory and payroll. Tally has been one of the dominating accounting software for almost two decades. The software has been developed by Tally Solutions Pvt Ltd. It is the most user-friendly for accounting software and thus, employers prefer Tally for easy availability of trained professionals for this specific software. Almost all accounting activities like inventory, purchase, sales, cost, payroll and statutory year end processes can be easily handled by Tally.
2. Profitbooks: This is an Online accounting software developed for small enterprises. It can only be operated on the internet as it is cloud based. The data can be securely placed in a cloud and can be accessed anywhere.
3. Marg: Accounting Software is developed by Marg Compusoft Pvt Ltd and is well accepted in small and medium enterprises of India. The software is marketed for the last two decades in the Indian market.
4. Wave: Wave’s accounting tools are 100% free, secure, and very popular in accounting community. It is one of the best web based accounting software solution available at present.
5. Xero: Developed by Xero, it is an award winning web based accounting software for small business owners and accountants. The user interface is nicely designed and is easy to use for online bookkeeping.
6. Reach: Reach Accounting Software is developed by Reach Accountant. It is an online Accounting Software aimed at Small & Medium Businesses. The significant part of Reach is that all the business operations are bundled in single software and it ensures that the business owner is able to track every aspect of the business.
