TOP 7 professional and reputable management accounting software today

Currently, there are many software developed to meet the needs of monitoring and managing financial activities of businesses. In the article below, 1C Vietnam will specifically introduce the top 7 professional and reputable management accounting software that companies can refer to.

1. What is management accounting software?

Management accounting software is an information technology solution designed to support a company's financial operations. The software helps businesses automate accounting tasks such as bookkeeping, debt tracking, tax declaration, salary payment, etc. In addition, modern accounting software also provides analytical tools. Finance provides cash flow forecasts and effective business decisions.

2. Benefits of using business management accounting software

Management accounting software is a powerful tool, bringing many practical benefits, helping businesses manage finances effectively. Specifically:

• Save time and reduce errors: Manual accounting work is often time-consuming and error-prone. Accounting software helps automate accounting operations, thereby saving time and ensuring more accuracy.
• Support tracking and analyzing financial information: Accounting software supports managers in building diverse types of financial reports, thereby easily tracking and analyzing the budget situation. From there, businesses can make appropriate business decisions.
• Timely updates of State regulations: Accounting software often easily updates new State regulations to help businesses avoid legal errors.

3. TOP 5 management accounting software for businesses

On the market today, there are many accounting software with many different features and prices, making businesses confused when choosing. Below are the top 5 management accounting software highly appreciated by users:

3.1. 1C:Company Management software

1C:Company Management software is a comprehensive business management solution, helping to automate administrative processes, improve efficiency and competitiveness. The solution includes all necessary functions for businesses, from financial and accounting management, purchasing, sales, production,... suitable for SMEs.

1C:Company Management software provides a series of outstanding features in the management accounting module for businesses, including:

• Multi-currency setup: The software supports businesses in setting up many different currencies, suitable for business needs. This makes it easier for companies to manage cash and bank deposits in various currencies.
• Set up multiple cash funds, multiple bank accounts: 1C:Company Management helps businesses set up multiple cash funds and many different bank accounts. Thanks to that, users can easily control the company's cash and bank deposits.
• Plan income and expenditure from time to time: Solution 1C:Company Management allows businesses to plan income and expenditure from time to time. From there, businesses have the ability to control the implementation of the organization's financial obligations.
• Set up payment schedule: Based on expected revenue and payment documents, 1C:Company Management supports businesses in setting up detailed and accurate payment schedules. This helps businesses ensure that debts are paid on time.
• Receivables and payables: 1C:Company Management software allows businesses to record, control and analyze debts with suppliers and customers in detail. The debt aging system helps businesses control new debts, old debts, and how long old debts have lasted.
• Track loans and debts and automatically calculate the principal and interest amounts that need to be paid each period: 1C:Company Management allows businesses to track details of each credit and loan contract. The software also automatically calculates the principal and interest amounts that need to be paid for each loan contract using many different methods.
• Allows businesses to manage employee advances: The software allows businesses to manage employee advances in detail. This helps businesses strictly control employee spending.

3.2. Fast software

Fast business accounting management software is a technology solution developed by Fast Software Joint Stock Company. The software is designed with some of the following basic features:

• Financial management: General accounting, bank accounting, cost accounting, sales accounting, purchase accounting, debt accounting,...
• Manage warehousing, warehousing, inventory,...
• Support the management of human resources operations: Timekeeping, salary calculation, social insurance,...
• Create invoices, track orders,...

3.3. SmartPro management accounting software

SmartPro is an accounting software developed to meet the accounting and financial management needs of businesses. Some key features of SmartPro management accounting software include:

• Support basic financial accounting operations such as bookkeeping, financial reporting, financial analysis,...
• Support in performing management accounting operations such as inventory management, debt management, sales management,...
• Integrate with other applications.

3.4. Vacom software

Vacom software is a business management solution developed by VACOM Joint Stock Company. This software provides accounting operations to help businesses optimize business operations. Basic features of Vacom business management accounting software include:

• Manage cash, deposits, banking.
• Purchasing and sales management.
• Fixed asset management.
• Manage employee records, timekeeping, salary calculation, insurance,...

3.5. Bravo Software

Bravo business accounting software is a financial and accounting management software developed by Bravo Joint Stock Company. Key features of Bravo business accounting software:

• Support the management of financial operations such as cash accounting, deposit accounting, warehouse accounting, debt accounting, sales accounting, purchase accounting, tax accounting,...
• Allows management of accounting operations such as general accounting, detailed accounting, project accounting, asset accounting, capital accounting,...
• Provide accounting reports according to accounting standards, meeting the management needs of businesses.

4. Criteria for selecting management accounting software

The current accounting software market is very diverse with the participation of many suppliers from small to large. So how can businesses choose quality accounting software? Here are 4 important criteria to keep in mind:

4.1. The software needs to be appropriate to the scale of the business

Depending on the size, each business will have different needs for using accounting software. For micro, small and medium-sized enterprises, accounting software needs to meet basic accounting operations such as cash accounting, bank deposit accounting, sales accounting, purchase accounting, and accounting. warehouse accounting, accounts receivable accounting, accounts payable accounting, fixed asset accounting, capital accounting, tax accounting.

For medium and large enterprises, accounting software needs to meet basic and advanced accounting operations such as cost accounting, cost accounting, production accounting, analytical accounting, and management accounting. treat,...

In addition, businesses also need to consider the number of accounting staff and the amount of accounting work that needs to be handled to choose appropriate accounting software.

4.2. Provides necessary features for accounting operations

To make management activities faster and more effective, businesses need to choose accounting software that meets both financial accounting and management accounting.

Financial accounting provides information to subjects outside the business such as investors, state agencies, banks, etc. This information is compiled from economic operations arising during the operation process. business movements.

Management accounting provides information for internal business managers such as the board of directors, functional departments, etc. This data is analyzed and processed from financial accounting information and other sources. of business.

Therefore, accounting software needs to meet both of these areas to provide adequate information to users, helping businesses make accurate and effective business decisions.

4.3. User-friendly interface, easy to use

Software interface is an important factor affecting user experience. Accounting software needs to be designed scientifically, logically, easily understood, and friendly, helping accountants easily manipulate and enter data. In particular, functions and features need to be arranged reasonably, helping users find and use them easily.

In addition, the software should also have an online help system so accountants can learn more about how to use it correctly.

4.4. Choose a reputable software provider

Choosing a reputable partner will ensure the provision of quality business management accounting software to meet the company's needs. Reliable units will also have good support services, helping companies solve problems that arise during product use.

Thus, management accounting software is an effective tool to help businesses save time, costs and improve financial efficiency. When using software, companies need to consider factors such as features, cost, security, etc. to choose a product that suits their needs and business characteristics. Contact 1C Vietnam immediately for consulting support on management accounting solutions suitable to the specific characteristics of your business.