Financial accounting programs have occupied a great place in all companies and commercial activities, from the first micro-enterprises to large companies and institutions. Today, they are indispensable even for small grocery store owners. Because of the vital functions and tasks it performs, it makes financial accounting operations easier for business owners with minimal effort and minimal costs.

But, do you know which type of financial accounting software suits the nature and needs of your business? Perhaps you are surprised and are now asking yourself: Do financial accounting programs have types? If so, what are the types of financial accounting programs?🤔

This is what you will learn during this new article on our blog! In this article, you will learn about the following:

1- What are financial accounting programs?

2- What are the types of financial accounting programs?

3- How do I choose the appropriate program for my work?

Explain the concept of financial accounting programs
Financial accounting programs are digital programs or applications that rely on modern technology, such as automation, to perform all the tasks performed by financial accountants in any company or commercial activity. To explain more to you, financial accounting programs monitor, record, organize and analyze financial operations, in addition to preparing financial reports, managing accounts, monitoring expenses and other various financial tasks.

This is in addition to the accuracy and transparency of financial accounting programs in managing financial and accounting operations away from human errors that financial accountants may fall into, with the ability to access at any time and from anywhere in the fastest way to financial information from any device.

💡Learn more: What are financial accounting programs? | Concept, importance and features

What are the types of financial accounting software?
The types of financial accounting programs are many and varied, but we divide them according to certain classifications or standards to make it easy for us and for you to choose the most appropriate type according to the needs and size of each business or commercial activity. The types of financial accounting programs can be divided according to the following classifications:

1- The size of the institution or commercial activity.

2- The program database.

3- Cost.

These are the basic classifications on which the division of types of financial accounting software in general is based. Below is a detailed explanation of each classification and the types that fall under it:

Types of financial accounting programs according to the size of the organization
Accounting software for micro-business activities (Cashier)
Small Business Accounting Software (POS)
Accounting software for large organizations or enterprise resource planning (ERP) software
As you can see, the types of accounting programs are divided into three main types according to the size of the institution or commercial activity that imposes specific needs on it. Below we explain each type separately.⬇️

Accounting software for micro-business activities (Cashier)
Financial accounting software designed for small businesses is called Cashier software, which provides limited features and capabilities to business owners that meet the limited financial accounting needs of their business.

Among the most important basic features and capabilities provided by the cashier program are features such as recording sales, issuing invoices, tracking inventory, managing customers, and preparing financial reports. These advantages are highly suitable for micro-business activities, such as grocery stores, pharmacies, clinics, and others of the same size of business.

Small Business Accounting Software (POS)
The second type is financial accounting software for POS points of sale, which is called retail software. It is highly suitable for small-scale businesses and activities. It is financial accounting software specifically designed for managing retail operations and branch management for small businesses.

One of the most important features of these programs is the integration between the tasks of recording sales, tracking and managing inventory, managing payment and issuing electronic invoices, which is what many owners of small-sized businesses are looking for, such as restaurants, hotels, hospitals and others of the same size of activity.

💡Strong Recommendation: As a small business owner, of course you are looking for a powerful, professional, reliable and at the same time less expensive POS software. Fekra POS software provides you with all the features and capabilities you need to improve the operational efficiency of your business. Try it now!

Enterprise Resource Planning (ERP) Software
The third type of financial accounting software, depending on the size and needs of the institution or business, is accounting and enterprise resource planning (ERP) software. This type is the most suitable type for large companies, institutions and commercial activities that have many needs and requirements and need to manage all their work through one comprehensive system.

Accounting and enterprise resource planning (ERP) programs, based on their name, are technological and software systems whose goal is to unify all the tasks and operations of the organization and manage them through only one system. They include financial accounting, customer relations, human resource management, inventory management, sales management, as well as production management.

Enterprise resource planning (ERP) systems include central databases that are easy to access at any time and quickly from any device in order to support decision-making within institutions and companies correctly and quickly.

💡Strong Recommendation: If you are looking for a powerful and integrated accounting and enterprise resource planning (ERP) software, we recommend the Fikra ERP cloud software for you. You will find everything your organization needs at the lowest cost.

These were the types of financial accounting software according to the size of the organization or business activity. Now, we move on to learn about the types according to the program database. ⬇️

Types of financial accounting programs according to the database
The types of financial accounting programs are divided according to the database used into five basic types, which are as follows:

Desktop Accounting Software
Cloud Accounting Software
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