There are hundreds of accounting and business management software offerings available. It can be very confusing for any business owner or manager to choose the ideal package for a particular enterprise. Some packages are marketed as the best for every business sector, size or type while others are more focused on a specific business sector. Almost all the available software offerings will handle the basic accounting functions effectively – after all – computer software was invented to do calculations. The real differences among software packages are in the user interfaces, supplementary functions, and included special features.
There is no rational way to rate accounting software without narrowing the field in some way. No accounting or business management software is perfect for all users. For any list to have any validity it must declare the type of business or user for which the list is intended. This list is focused on medium-size businesses ($05 Million – $250 Million) and on software designated as ERP for advanced business management. (ERP = Enterprise Resource Planning). The software is rated loosely on popularity and brand recognition. Familiar names top the list while less familiar brands are lower on the list. Being a familiar brand does not imply suitability for a particular user’s needs and some less familiar brand might be the best choice.
1 – QUICKBOOKS ACCOUNTING SOFTWARE:
Intuit QuickBooks is one of the most familiar names in the accounting software world. Quickbooks Enterprise ERP is generally considered one of the best business management apps on the market. It boasts the QuickBooks user interface that is easy to learn with intuitive operation. Almost all professional accounting firms either use QuickBooks as part of their own accounting software tool set or are familiar with the file formats so QuickBooks users can send QuickBooks data directly to their accounting services. Several custom solutions are available pre-configured to meet the needs of specific industries. QuickBooks Enterprise is best suited to mid-size businesses up to about $250 million. Larger business might benefit from a more professional-focused offering. Fully trained accounting professionals can find the interface somewhat isolating because it keeps technical accounting terms and actions hidden. A subscription-based option is available with hosting for data access from anywhere, anytime.
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2 – ZOHO – A Revolutionary FTA Accredited Accounting Software for UAE
ZOHO stands well above the crowd, recognised for its versatility, and its ability to connect with hundreds of everyday programmes used by millions. Cloud Storage is seamless whether you’re using box, Dropbox, Google Drive, or anything else you can name. Its mobile versions run on iOS, Android, and even Windows Phone so you’re never out of touch with your work. You can handle Sales, POs, billing, payments, banking, and stay in touch on estimates, projects, and workflows. And nowadays, one of the most important aspects is VAT integration; you must be able to track VAT (since the new laws just went into effect), if you want to avoid costly penalties. ZOHO is one of the few accounting packages that are officially approved by the FTA (Federal Tax Authorities) of the UAE. On the whole, this is an excellent choice for consumers.
READ MORE: WHY ZOHO FOR UAE?
3 – SAP ERP:
SAP ERP is a market-leading business management solution from well known and widely used software giant SAP. It boasts 50,000 customers, supports 37 languages and offers 45 localizations. It provides business solutions for product planning, human resource management, core finance functions and many more specific functions.
4 – SAGE ERP:
Sage ERP X3 is marketed as an alternative to traditional ERP solutions. It simplifies the complex structure of most ERP-type software with a cloud-based subscription service usable with any browser. The interface is not as basic as the QuickBooks but it offers more advanced functionality to the experienced or professional user. There is a version that users can install on their own infrastructure and fully customize to the individual business’ requirements. Sage X3 is scalable and ready to grow as your business grows. It is recommended for mid-sized businesses.
READ MORE: SAGE 50 PREMIUM ACCOUNTING SOFTWARE
5 – TALLY ERP 9:
Tally ERP 9 is available in several variants – each configured for a specific purpose, business type, or user. All variants start with the Tally.ERP9 feature set and add functionality or features specific to the intended business user. Tally.ERP9 is marketed as “The complete business management solution” and boasts close to one million users worldwide. There is an extensive set of business management functions including audit support, tax records, support for multi-location businesses, and even for multiple businesses. Also included is powerful connectivity to keep multiple locations’ records up to date.
6 – MICROSOFT DYNAMICS AX:
Microsoft Dynamics AX leverages the familiar Microsoft brand to offer a scalable and easy to use business management solution for medium and large sized companies. Microsoft’s size and expertise in software design delivers a user-friendly package with a large support network.
7 – INTACCT:
Intacct is a Software-as-a-Service (SaaS) financial management package. As a web-based solution it is quite inexpensive and required very minimal installation. Fast-growth companies are using Intacct because it is quickly and easily scalable as a company grows from small to medium size. It can support 2,400 users, 650 entities, and 250,000 daily transactions. Intacct is rapidly approaching market leader status.
8 – EXACT MAX ERP:
Exact Software offers Exact MAX ERP. This is marketed toward small and medium sized companies moving away from traditional accounting systems and into the digital ERP world. One of this software’s features is its integrated support for manufacturing processes. It also integrates with Microsoft Dynamics GP and Intuit QuickBooks with seamless performance. It can be expanded by adding functions and additional modules at any time.
9 – EPICOR ERP & EPICOR CLOUD:
Epicor is another software company focusing on rapidly growing businesses. There are two ERP solutions available from Epicor: Epicor ERP and Epicor Cloud ERP. Epicor markets itself as “Visionary ERP Solutions”. With 5000 customers using Epicor ERP in more than 80 countries, this software has proven easy to use, hardware friendly, scalable and fast.
Epicor Cloud ERP is marketed specifically toward small to medium sized businesses. As a cloud-based solution is can be rapidly deployed and does not require heavy hardware. The cloud application includes everything a business requires to manage operations, orders and resources in one ERP solution. It is being used by hundreds of companies already and gaining ground.
10 – IFS ERP:
IFS was an early pioneer in component-based ERP solutions. This component architecture of IFS Applications 8.0 makes the software easy to run, implement and upgrade as a business grows. IFS reports over 2000 installations with number of users ranging from 40 to 5000. It is available a a server-based or a cloud-based package.
READ MORE: ACCOUNTING SOFTWARE PACKAGES IN UAE