Choose a budget software package geared to your business size (number of employees): small business (0-100), mid-sized business (101-2500) or enterprise business (more than 2500).
Budgeting systems for the small business (0-100) include out-of-the-box desktop solutions, but more vendors are offering Web-based versions. Basic small business budget software functions include accounting, invoicing, printing checks, payroll and managing customer data.
Business budgeting software for the mid-sized business (100 to 2500) may be Web-based and offers P&L and balance sheets, some forecasting and scorecarding. Many solutions are industry-specific.
Enterprise business (more than 2500) budgeting systems are full-featured packages designed to handle the strategic planning needs of large organizations with multiple locations. Often available as a core application with wide-ranging plug-in modules, they can be adapted and scaled as needed. These packages are almost always Web-based.
Choose budget software by type: Web-based or desktop.
Web-based online budgeting software from application service providers (ASPs) can be accessed by anyone in the organization who has an Internet connection.
Desktop budget software is pre-packaged on disk for PC and/or Mac and is either downloaded onto individual computers or hosted on a server and accessed by authorized users on the network.
Choose budgeting systems features: accounting system integration, Microsoft Office integration, role management and multiple licenses. Look for a demo available.
Budget software often offers accounting system integration. Designed to work with QuickBooks and other commercial accounting programs, accounting software integration often includes payroll modules.
Many budgeting systems for small and midsize businesses use Microsoft Excel as a base, affording seamless Microsoft Office integration.
Budgeting systems with role management features allow you to create and maintain role-based privileges to control access to systems and applications, creating security for your data.
Multiple licenses allow more than one user to access a single budget software program that resides on your server. This saves the time and expense of buying and downloading multiple copies of the software. The number of users determines the price of the license.
Budgeting software downloads and demos allow you to preview the program before committing to a purchase. Look for "demo available" on vendor websites to download a free trial version that normally expires after 30 days.
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Making the most of budgeting software with full-featured solutions.
If you're thinking of investing in budgeting software, making the most of budgeting software of the 21st century has become easier, with products that are more capable of letting you handle complex jobs. From software that comes with scanning hardware for storing documents, to software with forecasting capabilities, many of the programs are so user-friendly that they can be implemented by novices with either PC or Mac ...
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