Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. It involves preparing source documents for all transactions, operations, and other events of a business. Transactions include purchases, sales, receipts and payments by an individual person or an organization/corporation. There are several standard methods of bookkeeping, including the single-entry and double-entry bookkeeping systems. While these may be viewed as "real" bookkeeping, any process for recording financial transactions is a bookkeeping process.
Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable to a third party at a discount. A business will sometimes factor its receivable assets to meet its present and immediate cash needs. Forfaiting is a factoring arrangement used in international trade finance by exporters who wish to sell their receivables to a forfaiter. Factoring is commonly referred to as accounts receivable factoring, invoice factoring, and sometimes accounts receivable financing. Accounts receivable financing is a term more accurately used to describe a form of asset based lending against accounts receivable. The Commercial Finance Association is the leading trade association of the asset-based lending and factoring industries.
Accounts payable (AP) is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents. An accounts payable department's main responsibility is to process and review transactions between the company and its suppliers and to make sure that all outstanding invoices from their suppliers are approved, processed, and paid. The accounts payable process starts with collecting supply requirements from within the organization and seeking quotes from vendors for the items required. Once the deal is negotiated, purchase orders are prepared and sent. The goods delivered are inspected upon arrival and the invoice received is routed for approvals. Processing an invoice includes recording important data from the invoice and inputting it into the company's financial, or bookkeeping, system. After this is accomplished, the invoices must go through the company's respective business process in order to be paid.
QuickBooks is an accounting software package developed and marketed by Intuit. First introduced in 1992, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
Visma is a privately held company headquartered in Oslo, Norway, that provides business software and information technology-related development and consultancy. The majority of the company is owned by HgCapital, a private equity firm.
Shopping cart software is a piece of e-commerce software on a web server that allows visitors to have an Internet site to select items for eventual purchase.
Sage 100 or Sage100cloud, formerly known as Sage 100 ERP, and before that Sage MAS 90 or Sage MAS 200, is accounting software offered by Sage.
NetSuite Inc. is an American cloud-based enterprise software company that provides products and services tailored for small and medium-sized businesses (SMBs) including accounting and financial management, customer relationship management, inventory management, human capital management, payroll, procurement, project management and e-commerce software. NetSuite was founded in 1998 with headquarters in Austin, Texas. The company is widely seen as the first cloud computing software company, with its founding pre-dating that of Salesforce by about a month.
FreshBooks is accounting software operated by 2ndSite Inc. primarily for small and medium-sized businesses. It is a web-based software as a service (SaaS) model, that can be accessed through a desktop or mobile device.
WorkingPoint is a web-based application providing a suite of small business management tools. It is designed to offer a single point-of-access for all business management needs while offering a user-friendly interface. WorkingPoint’s functionalities include double-entry bookkeeping, contact management, inventory management, invoicing and bill & expense management.
Liberty Accounts is an integrated online accounting and payroll system designed specifically for small and medium enterprises, not-for-profit organisation and charities in the UK. Also described as a software as a service or SaaS cloud computing application, Liberty is available to business owners, treasurers and accountants.
Invoicera is an online invoicing software. The software was created by a company with the same name that was founded in 2006, had 125 employees, and is based in India.
Wave is a Canadian company that provides financial services and software for small businesses. Wave is headquartered in the East Bayfront neighborhood in Toronto, Canada.
Aplos Software is a privately held company that specializes in software as a service for nonprofit organizations. Their primary focus is simple software to manage the essential nonprofit tasks of fund accounting, nonprofit tax preparation and donor management for small, mid-sized, and large non-profit organizations.
Reckon is an Australian software company that provides desktop and cloud-based accounting software for accountants, bookkeepers, small to medium businesses, and personal users. The company has offices in Australia, New Zealand, the United Kingdom, and the United States. Reckon is listed on the Australian Securities Exchange with a market cap of A$138,000,000. Reckon has over 600,000 businesses using its software across Australia and New Zealand.
Bench Accounting is a fintech company that uses proprietary software to automate bookkeeping and provide financials for small business owners. The company provides subscription access to cloud-based software in combination with in-house bookkeepers. Bench has raised $53M in funding to date and currently employs around 650 people out of its Vancouver headquarters.
Booyami Inc. is a provider of automation tools and business intelligence software for small business accounting. The company was founded in 2011 by a former Microsoft employee James Walter and a former vice-president of Bank of America, Corey Ross. The synergy produced BBC Easy and Finagraph — two technological solutions for small business that offer strategic financial intelligence and streamline obtaining business loans. After Moody's acquisition of the stake in Booyami in May 2016, Booyami announced that it now intends to expand its Finagraph service to medium-size businesses.
ZipBooks is a free online accounting software company based in American Fork, Utah. The cloud-based software is an accounting and bookkeeping tool that helps business owners process credit cards, track finances, and send invoices, among other features.
Sage Intacct, Inc is an American provider of cloud-based financial management and services available a number of regions around the globe – including the United States, Canada, the UK, Australia, and South Africa. Its products offer cloud-based accounting applications that enable business payments, manage and pay bills, and facilitate payroll functions.
Sage Accounting and Sage Payroll are a suite of cloud-based accountancy and payroll products developed by Sage Group aimed at small and medium-sized enterprises as well as the self-employed. They exist under the suite banner of Sage Business Cloud, and the products were initially known as Sage One and are available in many of the territories that Sage operate.
