Ledger Software

Written by Nicholas Kamuda
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Many different kinds of businesses take advantage of the power that is offered by current ledger software. Especially for small businesses and organizations, comprehensive accounting software can help eliminate many of the stresses of official finance by automating many functions. Many kinds of ledger software can be used in concert with other management programs to build complete software suites for offices and small organizations.

Basic, database-driven ledger software has been in use since the late 1960s. Only recently, though, have technological developments made it feasible for smaller offices and non-profit organizations to use the once-confusing and expensive programs. In the mid- and late-1990s, crude, unfriendly programs gave way to more straightforward and powerful business tools. Currently, many small municipal offices and schools can afford fund accounting software, allowing them to make a leap to the kind of organizational simplicity not afforded by paper-pushing.

Features of Current Ledger Software

Modern ledger software is packed with hosts of financial features. In general, it allows for the entry of many different types of income, accounts for expenditures, and can display, log, and sort information about current financial positions relative to budget, previous years, or different departments. Many kinds of software can also automatically generate financial reports and process encumbrance distributions instantly.

By using the connectivity and convenience of the Internet, many types of accounting and ledger software can also process online bill payments automatically, posting fee payments as income and even generating payment receipts. The high degree of organization inherent in many software modules can contain detailed vendor histories, classify vendors and purchase orders, and even automatically handle year-end purchase order procedures. Some programs even offer report queues, which are useful for automating the generation of reports without the need for human input.

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