An accounting sms api is all about the various functional modules that it has. Some of them are- General ledger which takes care of the company’s financial dealings; Accounts Payable where the company enters its bills and pays the money it owes; Accounts Receivable where money received is entered. The different categories or types of accounting software are as follows:
Small business/personal accounting software which are mainly meant for home users. They are simple and inexpensive with simple functioning such as management of budgets. Low end accounting software are for small business markets that are capable of serving a single national market. Such software are characterized by ‘single entry’ products.
Mid market accounting software are for companies with large businesses. These software are capable of serving the needs of multiple national accountancy standards and facilitate accounting in multiple currencies. High end accounting software are complex and expensive business accounting software that are also known as Enterprise Resource Planning or ERP software.
However, you have to keep certain things in mind before buying an accounting software, like the prices of the software, its different features, its after-sales support and alike. Most of the accounting software include all the important accounting modules. The more specialized features a software has, the more expensive it becomes. Your software features must be compatible with your business. Also, the after-sales support is important like FAQ package, local service center and others.
