What is an accounting system?
An accounting system keeps track of a company’s finances, accounting, and budget. For this reason, accounting systems are also called accounting software.
Such programs help streamline and manage bookkeeping in a company by keeping track of a company’s income and expenses. Thus, an accounting system also forms the basis for critical strategic decisions.
You can get integration ready-data for your accounting system with Acubiz
At Acubiz, we focus on providing integration-ready data to companies, which can then be integrated into their accounting systems – it is a fundamental prerequisite for the optimal use of an Expense Management solution.
Integration with accounting systems
Today, companies use different types of systems, applications, and tools in their system landscape. But systems are only worth a little if data and communication cannot flow between them.
Therefore, integrations are central to an optimal and efficient system landscape.
Integrating critical systems and applications into your company’s accounting system can optimize your workflow, increase efficiency and productivity, and give you an improved overview.
Read more about the benefits of software integrations and possible applications here.
Which accounting system should you choose?
The choice of a program depends on different parameters, such as the company’s size, desired features, complexity, etc.
You can, among other things, consider the following and ask the following questions to the suppliers:
- Get a complete overview of the functions included in the accounting system.
- What is the total cost of the accounting system? What is the cost of acquisition, installation, and operation? Is support included in the price? Is education included? What do add-on modules cost?
- Conversion of accounting history. If you switch accounting systems and want to convert old data, you should get a specified how much the supplier charges for converting data from your current to the new accounting system.
- What requirements do both you and the supplier have for hardware and security? Does the supplier, for example, require its own webserver to handle e-commerce? How does the supplier handle data, and what security measures are taken? For example, backup is taken, the supplier is certified, etc.
Online vs. Offline
Accounting systems are available as both online and offline solutions.
An offline accounting system is downloaded to a computer and used locally. It can also be purchased as a one-time investment on a CD, which may incur expenses for updates.
Although it can have online features, most of the tasks are performed on the specific computer on which the program is downloaded. This also means that you must take a backup and protect the computer from virus attacks if something happens to that particular computer.
An online accounting system means the accounting program is used in a browser like Google Chrome or Safari. This is the solution that is most commonly used today.
As online programs are cloud-based, they are most advantageous because a backup is automatically made. For example, you can access an online accounting system from multiple computers, which is more user-friendly than a single local computer.
Is an ERP system and an accounting system the same?
An ERP system (Enterprise Resource Planning) is more comprehensive than an accounting system and can keep track of everything from finance, orders, and procurement to inventory, customer management, and personnel.
It is, therefore, a kind of “big brother” to an accounting system.
An ERP system handles most of a company’s functions, such as order processing, customer database, transactions, and accounting. Instead of dividing it into different systems, everything is gathered in one program.
Do you want to know more?
Acubiz works with digitization and optimization of work processes within Expense Management. In this context, integrations with accounting systems can be a good solution for an optimal work process. In that case, it is possible as Acubiz provides the basis for such integration.
You are welcome to contact us to know how we can help your company.