What "advanced features" actually means
Entry-level accounting software handles one company, one currency, one person doing the books, and reports that come out of the box. You need advanced accounting software the day any of those stops being true: a second entity, a supplier who bills in another currency, an approver who is not the bookkeeper, or a board that wants a report the standard layouts cannot produce.
Reviewers and vendors broadly agree on what the advanced tier contains. The list below is what buyers are looking for when they search for accounting software with advanced features, and it is the list this page is measured against.
- Multi-entity management and consolidated reporting across companies
- Multi-currency ledgers with automatic exchange rates and revaluation
- Custom report layouts, segmented reports and comparative views
- Approval workflows for bills, expenses and journals
- Audit log and granular role-based access
- Advanced inventory: lots, batches, multiple warehouses
- Fixed-asset register with depreciation schedules
- Project, class and cost-centre tracking
- API access and a sandbox for integrations
- Cash-flow forecasting and analytics beyond the standard statements