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Accounting system
features
Accounting system
features|
The best way to compare the different accounting systems available in today’s market, starts with determining which accounting features your business requires. Select’s software experts have put together a list of the most common functionalities found in accounting applications. You can use this check list to specify your requirements. Once you’ve decided on the specs, you can use our online questionnaire to find the accounting system vendors, who can deliver a matching solution. This will narrow down your search to a manageable shortlist. In order to make a final selection, Select recommends to invite the shortlisted suppliers to actually demonstrate their solution. SelectAccounting distinguishes between the following accounting features: |
Industry focus |
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| Manufacturing |
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| Construction Industries |
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| Transportation and Logistics |
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| Wholesale and retail trade |
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| Finance, Insurance and Real Estate |
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| Service Industries |
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| Public Administration |
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General features |
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| Multilingual |
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| Integration with Office software |
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| Automatic recovery |
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| Multi-Site / Multi-Company |
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| Multi-currency |
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| Configuration of user rights |
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| Authorization control |
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| International Payments |
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| Workflow management module |
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Financial administration |
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| Create and maintain basic details of business relations |
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| General ledger |
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| Accounts receivable |
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| Billing and Invoicing |
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| Accounts payable |
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| Value Added Tax (VAT) |
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| Budgeting |
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| Cost Centre Accounting |
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| Consolidation module |
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| Fixed Assets Processing |
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| Stock/inventory Processing |
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| Integrated Management Information module |
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| IFRS Compliance |
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| Internal (intercompany) deliveries |
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| Project costing |
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| Cash Flow Management |
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Other, non core, modules |
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| Expense reporting module |
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| Billing and time tracking module |
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| Payroll processing |
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| Purchase requisition module |
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| Document management module |
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| Point of Sale management |
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Technical requirements |
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| Web-based |
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| On premise Accounting software |
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| Hosted Accounting software |
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| Oracle database |
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| MS-SQL database. |
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| XML interface module |
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| Web services module |
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| XBRL Support |
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Don’t try to implement all features at once!
After seeing the demonstration of the accounting system vendors you’ve selected, you’ll be tempted to want everything these companies have to offer. When that feeling occurs, remember to approach every software implementation project on a step by step basis. Customising and configuring the software systems is always the easy part of the implementation. Making sure all required data is captured, the available information is interpreted correctly and the right decisions are made accordingly is the key to success. This requires a manageable, user-friendly system containing the need to have functionalities and not the nice to have. When the basic implementation is place and has proved to work efficiently, you can always decide to broaden your scope and start using additional features.
A useful service for you? Check out our accounting system features questionnaire and request a free accounting software information pack now!