Financial administration: Software and accounting packages

Good financial administration is indispensable for both private individuals and companies. Fortunately, there is a wide range of simple and affordable financial administrative software, accounting programs and accounting packages for this purpose. But who can see the wood for the trees when it comes to administrative software? How do you know which software or packages are good and which are not? What should you pay attention to when purchasing financial administration software?

What kind of financial administration software and accounting programs are available?

Financial administrative software or accounting packages come in varying degrees of complexity and in the functions and purposes they support. As a private individual and small entrepreneur, you can still use Excel or another simple spreadsheet program to submit your financial administration once a year. This is still possible for one-off administration, but it is relatively time-consuming and is also prone to errors. There are also simple accounting packages for both private individuals and companies, which are available for a small fee or even for free. Consider, for example, software providers such as Netsoft, Snelstart, Muis or Davilex. You can often purchase more facilities from these providers for an additional price. When you purchase such additional modules, the price of the accounting package will of course also increase. Sometimes it is smarter to immediately opt for a more extensive package that does more than just accounting and with which you can also invoice automatically or manage your accounts receivable, for example. If you have more needs, you will obviously also need a more complex and extensive accounting program. Then you end up with professional financial administration software such as King, Account View or Exact. In addition to the fact that many more functions are supported and updates are provided more often, you also get more and better support here.

Which providers of financial administrative software have a positive reputation?

There are many different providers who offer simple and more complex packages. Some provide software or build it into the existing architecture, while others are available online. This of course has major advantages and less risk and storage capacity, but it does cost you server space. Davilex, Baas and Snelstart are popular and simple packages that well support the basic needs for financial administration and accounting. Exact, Reeleezee, Account View, Unit4 and SAP are well-known names of more complex software in the field of financial administration. Use the following checklist to make a good choice that supports your specific needs. Depending on what you need, one package is of course more suitable than the other. It is therefore important to do a good orientation based on the questions formulated below.

How do you choose a financial administration or accounting program?

When choosing a package, the following checklist can help with the decision-making process. Answer the following questions for yourself so that you can search more specifically for the package that suits you as a private individual or company:

  • Is the package intended for the financial administration of private individuals or companies?
  • For what purpose do you want to use the software?
  • Are you looking for a simple accounting program or an extensive financial administrative program that can handle payroll administration, orders and accounts receivable management?
  • Do you want to be able to make and receive payments via the system or not?
  • Does the business application involve a specific industry with specific requirements?
  • To what extent is budget available?
  • Does the software have to be open source?
  • Should several people be able to work with the package at the same time?
  • Is it important which technology is used within the software?
  • Should the system be stand-alone or should it be part of a network?
  • With which software on the computer should the program be compatible?
  • Which languages should the financial package support?
  • Should the software be able to maintain loss and profit accounts over several years?
  • Should management information be distilled from the system?