For a manufacturing business, accounting software needs to handle more than just basic financials. It should offer features like inventory management, job costing, supply chain tracking, and integration with production workflows. Here are some of the best accounting software options for manufacturers:
1. FreshBooks
FreshBooks is an excellent choice for small to mid-sized manufacturers looking for simple and intuitive accounting software. While known for its ease of use, it integrates well with other systems to handle inventory and invoicing:
- Simple Invoicing: Automated invoicing and payment tracking.
- Expense Tracking: Sync bank accounts and track operating costs easily.
- Time Tracking and Reporting: Monitor time spent on production and tasks.
- Third-Party Integrations: Connect with inventory management software for a complete solution.
Best For: Small to mid-sized manufacturers needing basic accounting, invoicing, and expense tracking with room to grow through integrations.
2. NetSuite ERP
NetSuite is a full ERP (Enterprise Resource Planning) system that’s perfect for larger manufacturing businesses. It offers an all-in-one platform that covers accounting, inventory, production, and supply chain management.
- Inventory and Order Management: Real-time tracking of inventory levels, production orders, and customer orders.
- Financial Management: Advanced accounting features such as financial consolidation, compliance management, and revenue recognition.
- Manufacturing-Specific Modules: Tools to optimize production planning, scheduling, and work orders.
- Customizable Dashboards: See an overview of operations, production efficiency, and financial health at a glance.
Best For: Large manufacturers needing an all-in-one solution that handles everything from accounting to production planning and supply chain management.
3. Sage 100cloud
Sage 100cloud is a powerful solution tailored for the manufacturing industry, offering tools for both financial management and operational control. It integrates with manufacturing processes to ensure smooth workflows:
- Bill of Materials (BOM): Track components, labor, and overhead for job costing.
- Production Management: Monitor production stages, manage work orders, and improve efficiency.
- Inventory Management: Track raw materials, work-in-progress, and finished goods in real time.
- Accounting Integration: Seamlessly connects your production costs with your accounting data for more accurate financial reporting.
Best For: Small to medium-sized manufacturers that need a combination of accounting and production management tools.
4. QuickBooks Desktop Enterprise (Manufacturing & Wholesale)
QuickBooks Desktop Enterprise is designed specifically for industries like manufacturing, providing robust inventory management alongside traditional accounting functions:
- Advanced Inventory: Manage inventory across multiple locations, track items by serial or lot number, and set up reorder points.
- Job Costing: Track costs associated with labor, materials, and overhead to get an accurate picture of profitability.
- Custom Reporting: Create reports that track production efficiency, costs, and sales.
- Sales and Order Fulfillment: Easily track orders from production to delivery, ensuring timely shipments.
Best For: Medium-sized manufacturers looking for strong inventory control and job costing within a familiar QuickBooks environment.
5. DEAR Systems
DEAR Systems is a cloud-based platform offering robust manufacturing and accounting tools. It excels in inventory management, order tracking, and integration with accounting systems.
- Inventory and Production Management: Manage inventory, BOM, and track production stages.
- Xero and QuickBooks Integration: DEAR Systems works alongside your accounting software to provide seamless financial reporting.
- Cost Tracking: Track raw materials, labor, and overhead costs, and connect them directly to your accounting.
- Multi-Location Support: Ideal for manufacturers with multiple production sites or warehouses.
Best For: Growing manufacturing businesses that want a scalable, cloud-based solution for both accounting and operations.
6. Odoo
Odoo is an open-source ERP system that offers modules for accounting, manufacturing, inventory management, and more. It’s highly customizable, making it suitable for manufacturers of various sizes.
- Modular Approach: Add manufacturing, inventory, and accounting modules as your business grows.
- Production Planning and Scheduling: Optimize your production processes with real-time data on work orders and scheduling.
- Integrated Accounting: Track costs, manage invoicing, and oversee financials all within the same system.
- Cost-Effective: Since it’s open-source, it offers flexibility and scalability without the high costs of other ERP systems.
Best For: Manufacturers looking for a customizable and affordable ERP system with integrated accounting.
Conclusion:
For most small to mid-sized manufacturers, FreshBooks is an excellent starting point for simple, user-friendly accounting with easy integration options. For larger businesses, NetSuite ERP and Sage 100cloud offer robust, industry-specific solutions. QuickBooks Desktop Enterprise is a reliable choice for medium-sized operations, while DEAR Systems and Odoo provide scalable, integrated tools for growing manufacturers.
Choose the solution that best fits your company’s size, complexity, and future growth plans.