An accounting system is any system in

place within a company that deals with

the storage and analysis of financial
information. This system can be either
manual or computerised but manual
systems are increasingly rare
nowadays.

Small Accounting Systems

Small businesses can not afford high priced/high ended.

Small business can also have a problem with affording sufficient security
software for their accounting systems
Small business may even have problems with keeping sufficient audit trails
in their accounting systems.

Large Accounting Systems

Large businesses can afford high priced/high ended software to do their

accounting systems which will make a difference in making them more
efficient when dealing with customers.
Large business have the fortune of being able to tailor software to suit their
exact business requirements.
Large business accounting software is frequently part of a wide-range suite
of software that is often known as Enterprise Resource Planning or ERP
software.

A manual accounting or book keeping system is the traditional way of

maintaining control over a businesss financial accounts and records.
This system consists of various ledgers and files into which
information must be written by hand. Those who have used this
method of accounting in the past tend to prefer it to computerised
systems.

Though more common in the past manual accounting systems are still
in use in many small businesses as their primary source of record
keeping.

In some cases a manual system may be in place in addition to the

computerised system as a way to provide another form of backups or
to keep internal control over the information.

Advantages

Keeping manual records means there is no risk

or data corruption or disk errors leading to loss
of data.
Problems with duplicate copies of data dont
apply to manual systems.
It is easy to erase or edit erroneous data.
Secure against electronic attack
Easy to learn

Disadvantages

Difficult to make backups.

Books can be easily damaged by human error
Easy to physically steal

Sage
Kashflow
Intacct
Epicor Financial management
NetSuite
Nolapro
Merchants Mirror
Oracle E-Business suite
And many more!

Wide range of software!

Proprietary accounting systems

There are Open Source accounting
systems
PC based accounting software
Web based Accounting software

Autocount is much more easier to be used

compared to UBS.
Autocount is user friendly
Wrongly entered transaction can be
corrected easily in Autocount compared to
UBS.
Comparison in aspect of tracing the
mistake. In this case, it can be said that
UBS is much better than Autocount system.

simple and the accounts involved can

be easily created.
user friendly in terms of keying in
different transactions.
prevent human error from occurring
since all the debit and credit entries are
done by the system itself

difficult and rather complicated to make

any correction or edit any mistakes
made earlier.
system contains too many version
which makes is hard to compare jobs
between different users.
also causes the users to be confused in
recording the transactions as some of
the accounts need to be recorded twice

6.2 million Customers worldwide

Sage employs over 2000 people
Mostly Accountants and entrepreneurs
Well known specifically for payroll
software
Does general accounting software for
small to large businesses

Contains the following pieces of

software:
Instant accounts to manage finances,
Customers and suppliers. Cash flow,
Invoicing and VAT.
Instant payroll For managing
employees wages.
Costs 215 for a year

Kashflow is a web based accounting

system.
With this in mind - it is simple, and easy
to use, but has some powerful features.
Cost: 15.99 per month
Good for small business as no annual
contract, and 2 month free trial
available.

Easy to use:

Can be accessed from anywhere

You don't need to have any previous
experience Basic descriptions, no complicated
accounting terms
Intuitive interface, and lots of guidance
available in most of the modules

Some features of KashFlow:

Easily store and retrieve

information about; Customers,
Sales, Suppliers, Purchases, Bank
balance and Quotes
Create custom invoice templates
(or use those provided)
Automatic creation of invoices
(e.g. monthly or annually)
Generate VAT returns
Paypal integration possible.

Dashboard

Sales record / invoice

An invoice can be auto-generated using sales information

Sage:

Large customer base

Good customer support
General accounting for large and small businesses
Desktop based

Kashflow:

Web based, no bulky software to store on the system

Accessible from anywhere with an internet connection
Designed for small businesses
Simple and Easy to use
Good customer support
Cheaper
Simple plain language used: No complicated jargon
Templates for Invoices and so on available
Option to link to other online accounts like PayPal

All accounting software has a Database running in

the background
Kashflow uses MySQL
Sage: also uses MySQL
The whole point of the software is to store and
manage financial information for the businesses

There are several options out there for businesses of varying

sizes, and there is the software out there tailored for this
Two of the main ones that we have covered are Sage, and
Kashflow
Both of these pieces of software are widely used, and have
large support bases
Sage can be used for large or small businesses
Kashflow is ideal for small businesses
The options are out there, and there is a system out there for
every system, the correct research just needs to be done by
the business to find the right software for them