This reference guide provides insight into the accounting features and functions currently available on today's market for small to medium businesses (SMBs). It will help you determine which features your organization needs—or doesn't need.
You can also download an extended guide in Excel format at TEC's Accounting Software Request for Proposal (RFP) Template page.
But first, here's a brief overview:
What Are Accounting Systems?
Accounting systems manage procedures for accurately entering, tracking, and maintaining information related to an organization's financial operations. These accounting applications typically support general ledger, accounts payable and accounts receivable, payroll, job and project costing, and multinational accounting.
Many SMBs require that other functions (such as inventory control, manufacturing management, and financial reporting) also integrate with their accounting system.
About This Guide
Although a full accounting system RFP can contain upwards of 4,000 features and functions, we'll focus on the "big picture" features for now, for (obvious!) considerations of space.
You'll notice that we've grouped accounting features by broad category. These categories correspond to a high-level functional breakdown of software features. In this reference guide, we provide a brief explanation of how each category impacts your accounting processes.
If you'd like more information about a full listing of accounting software features and functions, please visit TEC's RFP Templates page.
You can also download an extended guide in Excel format at TEC's Accounting Software Request for Proposal (RFP) Template page.
But first, here's a brief overview:
What Are Accounting Systems?
Accounting systems manage procedures for accurately entering, tracking, and maintaining information related to an organization's financial operations. These accounting applications typically support general ledger, accounts payable and accounts receivable, payroll, job and project costing, and multinational accounting.
Many SMBs require that other functions (such as inventory control, manufacturing management, and financial reporting) also integrate with their accounting system.
About This Guide
Although a full accounting system RFP can contain upwards of 4,000 features and functions, we'll focus on the "big picture" features for now, for (obvious!) considerations of space.
You'll notice that we've grouped accounting features by broad category. These categories correspond to a high-level functional breakdown of software features. In this reference guide, we provide a brief explanation of how each category impacts your accounting processes.
If you'd like more information about a full listing of accounting software features and functions, please visit TEC's RFP Templates page.
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