Best Accounting Software for Enterprises


Sep 22
Best Accounting Software for Enterprises

Businesses are opting to do finances in-house rather than hire an accounting firm. This transition has led to demand for accounting software that can accommodate large-scale enterprises.

Whether a company seeks general ledger accounting software, or wants in-depth inventory counts and billing, several solutions are available today.

Top 3 Accounting Solutions for Enterprise-Level Accounting

The demands for in-house accounting solutions spurred an increase in accounting solutions. While most are capable, some lack the features or budget-friendly price tags that today’s cost-effective enterprise desires.

Today, many companies operate in the cloud, and cloud-based accounting is a must-have for these firms. Three programs offer enterprise-worthy accounting with cloud access: Sage 300, SAP Business, and QuickBooks.

Sage 300

Best Accounting Software for EnterprisesSage 300 comes from the family of Sage Accounting products. Sage 300c version works in the cloud and is ideal for midsize enterprises. The cost is $75 per month per user. However, a business with one in-house accountant would find that reasonable.

Sage 300 is easy-to-use and offers mid-range accounting capacity. With the enterprise resource planning package added on, it includes better functionality. However, there is limited room for expansion.

What is Great About Sage 300?

  • Easily upgrades from entry-level accounting programs.
  • Includes interchangeable dashboard widgets for customizations.
  • Ribbon-based navigation customized to the user.
  • Mobile access from multiple devices and platforms.
  • Includes customer relationship management (add-on).

What Needs Improvement with Sage 300?

  • Does not include inventory or payroll.
  • No timetable add-ons or modules.
  • No flowchart navigation included.

SAP Business One Professional

Best Accounting Software for EnterprisesSAP Business One Professional is a cloud-based accounting software with flexibility, features, and user-friendly designs. Some call it “old fashioned” in the presentation, especially for enterprise resource planning.  It is complex and requires a learning curve, but works for midsize to large enterprises.

SAP Business One Professional costs $82 per user per month for cloud-based accounting.

What is Great About SAP Business One Professional?

  • Extensive customization for the user.
  • Handles multiple currencies.
  • Offers documentation and an administration module.
  • Custom reporting for a variety of financial planning documents.
  • Includes complex business analytics with a Microsoft SQL Server and SAP HANA database.

What Needs Improvement?

  • Configuration and installation require extensive work.
  • Only supports Mozilla Firefox.
  • Too complex for small to medium-sized enterprises.

QuickBooks Enterprise Solutions

Best Accounting Software for EnterprisesQuickBooks from Intuit is the leading cloud-based and computer-based accounting software in the nation. In the past, their enterprise solutions have not always been popular among medium to large enterprises. Today, QuickBooks offers their Enterprise version, which includes a one-year single-seat license for $900.

What is Great About the QuickBooks Enterprise Solution?

  • Easy-to-navigate dashboard and user-friendly interface.
  • Familiar interface for former QuickBooks users upgrading to Enterprise.
  • Simple forms and report customization available.
  • Standard and user-contributed reports available.
  • Imports from other accounting software programs.

What Needs Improvement?

  • Requires full-service plan to do payroll, advanced reporting, inventory, and other advanced features.
  • Only scales to 30 maximum users per license (for an additional fee per user).
  • No centralized documentation storage or mobile access.

Which is the Better Solution for an Enterprise?

All three have their pros and cons. It comes down to the number of users, access points, and budget. A company that does not want to lock into monthly commitments will find the one-time fee of QuickBooks refreshing.

However, with that one-time fee comes restrictions. Monthly versions, like SAP Business One and Sage 300 are easier to scale and offer customized modules.