1. Technology Tools
Accounting Software
3/20/2016
James McGinnis

2. Accounting Software Uses…
 Basic accounting
 A/P (accounts payable)
 A/R (accounts receivable)
 CRM (customer resource management)
 ERP (enterprise resource planning)
 HR (human resources)
 Marketing
 Payroll
 Financials
 Sales
 Business controls
 Inventory
 Invoicing
 Taxes
 Administration cost
 Strategic planning

3. Types of Software
Dedicated Software
 Installed on company computer
 Software is purchased with license
 High Initial cost
 Software maintained and updated by
company IT
 Company system security
 Must make backup
 Access limited
Cloud Software
 Installed on provider’s computer
 Software is by subscription
 No initial cost
 Software maintained and updated
by provider
 Bank level Security
 Automatic backup offsite
 Access with multiple devices
(anytime, anywhere)

4. Types of Clouds
Software and data stored on
company computer.
Software installed and running on company
computer available only to company
location.
Private Cloud
Software and data stored on
providers’ computer.
Software on providers’ computer server
and available for access by multiple users
in any location.
Public Cloud

5. Business Management Solutions
HR
ERP
TaxesFinancials
CRM

6. Value Added Services
Competitive business edge:
Providing valuable customer services
Proactive consultation and planning instead of just reactive consultation.

7. Packages for Accounting Firms
QuickBooks Online
Accountant
Sage One
Xero Partner Program

8. Recommendations
1. Do not use dedicated software. (Greater costs, less results)
 Initial cost, greater hardware requirements, backup and update cost,
limited access, limited function.
2. Use cloud based software. (SaaS) (Lower costs, greater results & benefits)
 No initial cost, no setup cost, lower IT costs, anywhere & anytime access,
access with multiple devices, and bank level security backup.
3. Use system with incorporated business management solutions .
 ERP or business management solutions ties all parts of the business
together for greater operating efficiency and gives an overall picture of
business at any given time.