Budgeting is one of those unpleasant tasks every manager has to do. It's a lot of number-crunching, comparing actual expenses versus last year's estimates and adding information about upcoming projects and known expenses. Thousands of people do their budgeting in a spreadsheet. However, while this is adequate for a basic budget for a department or small company, you have to enter the budget data manually, making it difficult to scale your budgets for larger companies. Moreover, spreadsheets rarely provide the analysis tools to create an accurate, tight budget based on existing numbers, and they are not suited for collaborative financial planning. This is where budgeting software comes in. Read more...

Although most service businesses are used to generating invoices manually in a word processor, there are many disadvantages to this. First, you have to find all the charges billed to a particular client and project. Next, you have to add everything up correctly and send it out. Finally, you have to manually enter invoice amounts received from the client in your accounting software.

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The market for fund accounting software for not-for-profit organizations is considerably smaller than the market for commercial accounting software, but it is no less varied. Unlike standard commercial accounting, fund accounting lets you identify and separate your financial resources in separate funds. This lets you track the source and the use of the funds.

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