Axia Home: Software Selection Resources for Professionals
FREE Report "20 Top Tips For Reducing Software Selection Costs" - Get it NOW - Click Here
Accounting

Quick Links

Research

Software criteria summary

Accounting software criteria

CRM software criteria

HR software criteria

Payroll software criteria

Software efficiency criteria

Vendor criteria

Accounting System RFI/RFP Checklist - click here for details

Accounting Software Criteria

The essential criterion of good accounting software includes:

Software functionality - good accounting software should:

Have high functionality

Have the functions included within the software, rather than as add-ons

Perform the accounting functions:

  • required by your organisation
  • the vendor claims the accounting software performs
  • required by statute / regulatory authorities

Provide the following accounting and system wide functions (depending upon your requirements)

Accounting software functions:

  • general ledger
  • accounts payable
  • employee expenses
  • purchase order processing
  • accounts receivable
  • sales order processing and invoicing
  • job order processing
  • job / project costing
  • inventory
  • cash book
  • fixed assets

System wide functionality:

  • fully web enabled, to operate over the internet / intranet
  • employee self service (ESS) / manager self service (MSS)
  • employee portal
  • workflow 
  • alerts
  • document image processing (DIP)
  • euro compliance
  • accounting standards / IFRS / Sarbanes Oxley compliance
  • multi company, country and currency
  • support multiple Windows versions
  • VAT / Sales and purchases taxes
  • SMS text messaging

Be a fully 'open system'

Be written in a widely used programming language

Be fully integrated, or easily / seamlessly integrated with other relevant systems (if stand alone modules)

Provide links to other systems eg payroll, logistics, manufacturing and desktop software

Have the scope to grow with the business

Be flexible to accommodate changing user or business requirements

Have a chart of accounts structure that is flexible to accommodate your current and future requirements

Support good accounting practice

 

Management information - good accounting software should have:

Full online enquiry and drill down / around capability

Multiple search and select facilities

A suite of ready-to-use standard system screen enquiries and reports

Standard reports that can be tailored to the user requirements, saved and then reused when required

Interactive graphics

Reporting across modules

E-reporting and documentation ie reports and documents that can be prepared, reviewed and sent over the internet

Easy to use, flexible report writer either from within the accounting software or provided by third party software

Business intelligence tools eg

  • advanced analytics
  • OLAP
  • data warehouse
  • data mining

 

For additional ‘key software criteria’ visit: Software efficiency criteria / Vendor criteria or for the current accounting software trends visit: accounting software trends

For other software criteria, click: CRM software criteria / HR software criteria / Payroll software criteria

Home | Privacy Policy | Site Map

17 New Road Avenue, Chatham, Kent ME4 6BA, United Kingdom  T:+44 (0) 1634 848894  info@axia-consulting.co.uk

Copyright © 2012 Axia Consulting Ltd. All rights reserved.