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Top 10 Enterprise Accounting Software

Here is list of top 10 enterprise accounting software. Enterprise accounting software enables businesses to manage financial information and streamlines complex, multi-company account structures.

Enterprise accounting software, also known as business accounting software, is designed to assist larger businesses manage their finances. These programs contain features tailored to the specific needs of managing a large organization, and they are often used by companies with multiple locations.

FinancialForce 

1 REVIEW 5/5★ ★ ★ ★ ★

An end-to-end financial management solution built on the Salesforce platform.

FinancialForce is an accounting system delivered on-demand from Force.com, the world’s leading cloud computing platform pioneered by Salesforce. It is a unique and effective financial management system in its own right, but is also the perfect complement to Salesforce CRM. The two application suites form a complete, end-to-end CRM to accounting solution all in the Salesforce environment, offering unparalleled efficiency and economies of scale.

Easy to implement and trouble-free to maintain, FinancialForce Accounting helps you bring back office data to the front, eliminating data silos, and allowing you to align sales, service and finance on a single cloud platform. FinancialForce Accounting can support everything from the smallest virtual organization to the most complex multinational corporation. What you get is an efficient and cost-effective solution that goes well beyond basic bookkeeping and transaction processing, spawning a new generation of financial management applications.

Take advantage of modern, world class systems and applications without the IT costs and headaches. With FinancialForce Accounting, you can:

  • Create accurate invoices in one click
  • Reduce the resources needed for billing and ordering
  • Enjoy real time reporting and multidimensional business analysis
  • Give Finance, Sales & Service a 360° view of the customer
  • Full accounting functionality that can scale with you
  • 100% real-time system
  • Flexible chart of accounts and multi-dimensional analysis
  • Multicompany, multicurrency, global tax, multicultural

Pricing

  • Starts at $175/user/month for core user access to all features
  • Executive users start at $125/month for read-only access
  • Sales users are only $10/month for access to view some data

FinancialForce requires a minimum number of users and will be priced based on license type, modules, and a variety of discounts available, A small business can expect to pay around $9,000 annually to use FinancialForce.

Accounts Payable

Accounts Payable – Streamlined, Controlled Invoice to Pay Processing

  • Reduce keystrokes with document templates and electronic invoicing.
  • Use authorization workflow for automated invoice and expense approvals.
  • Set vendor credit limits and credit terms by vendor account.
  • Pay vendors by check or electronically.
  • Automatically calculate due dates and settlement discounts, based on vendor terms.
  • Prevent payment of duplicate invoices.
  • Define your own check print formats.

Accounts Receivable

Accounts Receivable – Streamlined, Seamless Opportunity to Cash Processing

  • Create invoices from Salesforce opportunities in a single click.
  • Set credit terms both globally and by customer account.
  • Automatically calculate of due dates and settlement discounts.
  • Automatically calculate payments to invoices based on document references and amounts.
  • Use tasks as reminders to chase past due accounts. vUse Chatter to collaborate with sales and services personnel on late payers and customer issues.
  • Send statements and reminder letters by email.
  • Use “Your Account” a customer self-service billing portal.
  • Automate lockbox transaction processing with the FinancialForce.com cash matching API.

Cash Management

Cash Management – Optimize Your Cash Flow and Working Capital

  • Easily forecast cash flows and currency needs.
  • Set up multiple bank accounts in different currencies.
  • Pay customer refunds from A/R without duplicating records in A/P
  • Record one-off payments to vendors and refunds to/from vendors.
  • Automatically reconcile your bank statements without re-keying.
  • Record bank charges and interest shown on your bank statement.

General Ledger

General Ledger – Flexible, Efficient and Always in Balance

  • Flexible, multi-dimensional chart of accounts.
  • Multi-currency and multi-company transaction handling.
  • Transfer costs between companies or business units with an inter-company journal.
  • Perform accruals with automatic reversing journals.
  • Automatic calculation of cumulative, year-to-date budgets for each period.
  • User and role-based dashboards provide real time visibility.
  • Standard and customizable financial report templates.

Ordering & Billing

Ordering and Billing – Eliminate Manual Processes and Complex Integrations!

  • Create an order from a Salesforce opportunity, quote or custom object – in a single click.
  • Create orders automatically in batch – no-touch order processing.
  • Generate invoices automatically from approved orders.
  • Eliminate manual processing, re-keying errors, spreadsheets and unnecessary databases.
  • Get complete visibility of the CRM-to-Accounting cycle.
  • Raise an invoice directly from any activity in Salesforce CRM (standard or custom objects).
  • Create a single invoice with multiple installment payment due dates.
  • Set up recurring invoices for regular bills, such as an annual maintenance agreement invoiced monthly.
  • Generate accounting entries for on-premise ERP system.

Reporting

Reporting and Dashboards – Improve Decision Making Across the Organization

  • Combine sales, service and finance data in single report, single dashboards
  • Deliver financial reporting and key metrics straight from the cloud to your browser, tablet or mobile devices
  • Get full drill down and full drill across type reports
  • Get alerts when financial thresholds are exceeded
  • Eliminate emails by using Chatter on reports, accounts and transactions
  • Get started fast with an extensive library of ready to run report templates
  • Capture and store helpful Chatter conversations within the generated report

Oracle NetSuite Accounting Software: Best ERP Tools

Oracle NetSuite Accounting SoftwareNetSuite offers a variety of features, including enterprise resource planning tools.The software focuses on automation, making it simple to send and collect invoices.The website isn’t clear about pricing, so you need to contact a sales representative to determine the cost.VISIT SITE

Oracle’s NetSuite is a great choice for small business owners who want to get a complete picture of their business while automating aspects of accounting. With this software, you can manage all aspects of your business from one dashboard, making NetSuite our pick for the best accounting software with enterprise resource planning (ERP) tools.

Editor’s score: 8.5/10

NetSuite is a full-featured accounting and ERP program geared toward businesses with more complex needs. You can make and receive payments, run a slew of reports and manage taxes. NetSuite has embraced automation, making it easy to send invoices and receive payments, and it has robust tax management tools that support all currencies and exchange rates. If you have international sales, the software automatically processes sales and payments based on the local laws you’re selling or operating in. There’s also a revenue recognition management solution that helps business owners meet accounting standards and report financial results on time.

Cash flow management is also simple thanks to a robust set of features that provide insight into your cash, making it easier to optimize cash, control bank accounts and remain compliant with rules and regulations. NetSuite’s payment management system centralizes payments, while the planning and budgeting features unify data to help you plan. It’s also easy to create budgets and forecasts, plan for what-if scenarios and run reports on many aspects of your business. To keep you in control, NetSuite lets you set permissions.

NetSuite also has numerous ERP tools to manage finances, inventory, production and the supply chain, and the ERP functionality also helps you plan for the future. Because NetSuite comes with so many features and tools, it’s difficult to get an accurate price without reaching out to a NetSuite sales representative. There’s an online form you can fill out to set up a free demonstration.

NetSuite may not make sense if you are self-employed or a microbusiness without complex needs. But if you require a more holistic approach to accounting and want to be able to budget, plan and forecast, NetSuite deserves serious consideration.

Wave


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Wave is an ideal accounting software platform for a service-based small business that sends simple invoices and doesn’t need to track inventory or run payroll. For many freelancers or service-based businesses, Wave’s free features will cover all of their accounting needs and is the best free software in our review. At year-end, accountants can pull the necessary reports from Wave to prepare a business’ tax return.Pros

  • Free accounting, invoicing, and receipt scanning
  • No transaction or billing limits
  • Run multiple businesses in one account
  • Unlimited number of users
  • Mobile app

Cons

  • Limited third-party app integrations
  • Higher fees for credit cards and ACH payments
  • Full-service payroll is limited to only 14 states
  • No inventory management

Wave was founded in 2010 and is based in Toronto. The company has over 250 employees and was purchased by H&R Block in 2019. The foundational accounting features that most small businesses need, such as income and expense tracking, financial reporting, invoicing, and scanning receipts, are all included with this free software. These features can be accessed online or on the mobile app. Customer payment processing and payroll are considered premium services that cost extra, but all of the bookkeeping, invoicing, and reporting features are completely free.

Wave makes its money on its payment gateway. To process payment from a customer, Wave charges 2.9% plus 30¢ per transaction for Visa, Mastercard, and Discover, and 3.4% plus 30¢ per transaction for American Express. These fees are slightly higher than other accounting software. Additionally, to process an ACH payment, rather than a credit card, Wave charges 1% per transaction with a $1 minimum fee. This is unique to Wave, as the majority of accounting software does not charge a fee for ACH payment processing. 

Wave offers two payroll plans as an add-on service. The first plan is $20 per month plus $6 per employee or contractor. In this plan, Wave will process payroll and prepare payroll tax calculations, but the user is responsible for manually completing payroll tax forms and submitting tax payments. The second plan is $35 per month plus $6 per employee or contractor. In this plan, payroll is full-service, which means that all tax filings and payments are completely managed by Wave. This full-service payroll option is only available in 14 states.

Conclusion

Whether it be payroll, accounting, time tracking, project management or check printing, many companies have a need for simple to complex accounting solutions. And there are so very many choices! As you look for your next solution, it’s important to note that accounting software is priced, sold and implemented very differently than most other products. It has one of the longest sales cycles in the business world and has one of the highest implementation costs. Therefore, it’s essential to do your homework!

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