We are independent & ad-supported. We may earn a commission for purchases made through our links.

Advertiser Disclosure

Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.

How We Make Money

We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently from our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

What Are the Different Types of Ledger Software?

Mary McMahon
By
Updated May 17, 2024
Our promise to you
WiseGeek is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At WiseGeek, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

Ledger software can offer a variety of features to record monetary transactions. It can be roughly divided into freeware and paid software products, which may focus on different types of ledgers or provide flexibility and increased functionality. In addition, some products interface with other accounting software or offer expanded functions to allow people to do things like printing checks and deposit slips. The best choice can depend on a given application and factors like concerns about costs.

General ledgers act as a final record for virtually all transactions. Ledger software can also manage subledgers used to record assets, liabilities, payroll, and other financial matters. The software can periodically reconcile these accounts into the general ledger and may generate reports on the basis of the recorded information. Some systems also connect to bank accounts to allow for automatic updating when transactions occur, along with flagging of suspicious transactions. Integration with other programs for report generation and communication with things like point of sale systems is available with some programs.

Some types of ledger software offer the ability to generate checks with payroll and vendor information. This allows people to use one software program to maintain records and generate payments, and creating checks automatically debits the ledger appropriately. Deposit slips and reports can also be generated automatically when payments are received and entered into the system. Other streamlining functions ledger software may offer can include different kinds of bookkeeping, currency conversions, and generation of tax documentation.

Free programs tend to have less functionality. Some may be ad-supported, or could have some functions locked until the user pays. For basic accounting, they may be sufficient to manage financial information and track transactions. More advanced ledger software usually requires payment of a license fee. In some cases, monthly subscriptions are also required, if the software offers ongoing support or services in addition to the basic package.

People considering free software may want to consider a trial version of a more advanced program. If they later decide they need new functions, they can upgrade while retaining all the information from the earlier installation of ledger software. Otherwise, they may need to export files, which may not necessarily import correctly into a new program. A computer technician can help with the conversion process in the event software needs to be changed for any reason, and may have specific advice on the best program to use to meet the need and import with a minimum of fuss.

WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Mary McMahon
By Mary McMahon

Ever since she began contributing to the site several years ago, Mary has embraced the exciting challenge of being a WiseGeek researcher and writer. Mary has a liberal arts degree from Goddard College and spends her free time reading, cooking, and exploring the great outdoors.

Discussion Comments

Mary McMahon

Mary McMahon

Ever since she began contributing to the site several years ago, Mary has embraced the exciting challenge of being a...

Learn more
WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.