Accounting software should protect the financial record
At minimum, the system should maintain a clear chart of accounts, journals, receipts, payments, cash, bank, customer and supplier balances and financial reports.
Questions to ask
- Can posted entries be edited, or are corrections controlled?
- Does it support AFN and other currencies with historical rates?
- Can payments require approval before posting?
- Are receivables and payables linked to parties?
- Can reports reconcile back to transactions?
- Are audit history and backups available?
Accounting vs ERP
If finance depends heavily on procurement, inventory, payroll, projects or multiple branches, a connected ERP may be more appropriate than a finance-only system.