The accounting industry is taking more strides to provide more efficient software for small business owners. Although it has been around for quite some time, Open Source Accounting Software is gaining steam and additional customers from small business owners who are looking for a customizable solution to their accounting and reporting needs. Open source accounting software is software where the underlying code to develop it is shared with partners, Accountants/VAR’s (value added resellers), and end users to make everyone’s life a bit easier. Software developers have full access to the code and can create customized modules for small businesses to improve business operations. Accountants/VAR’s can improve their flexibility, by allowing them to import and export data between various other software systems, and management has the ability to be more efficient through better reporting and decision making.
There are some considerations that must be taken before implementing an open source accounting system. Upgrades to the software may be problematic if for some reason the underlying code of the system is altered somehow. This is why, as with any accounting system a small business utilizes that any technological upgrades and updates should be performed by your trusted technology consultant.
The market for open source accounting system has been seeing tremendous growth. Recently many Fortune 100 companies have requested open source accounting systems for their operations and some of the major players in the conventional accounting software market have developed tools to assist businesses. Sage Software’s MAS 90/500 accounting packages come with a tool call the “Customizer” that allows users to make changes to better fit their needs. Open source accounting software also make business operations move more efficiently with the addition of programming tools like XML interfaces, object oriented technology, and software integration modules that help businesses increase productivity.
Typically small businesses need a more customizable software program to operate their business and open source accounting software just may be the way. For more information on open source accounting software check out these sites:
AccountMate
OSAS – Open Systems Inc.
Netsuite
Until next time
Brian N. Stovall
Consultant - Accounting & Business Advisory
The Brico Group, Inc.
Small Business Consulting & Outsourcing
bstovall@thebricogroup.com
www.thebricogroup.com
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