ERP vs Accounting: Who Will Triumph?

Accounting vs ERP

Accounting and enterprise resource planning (ERP) software both provide businesses with support in managing financial processes.

Accounting software focuses on core accounting functions such as budgeting, invoicing, payroll, and general ledger, while ERP software provides a more comprehensive solution, by connecting other business processes such as inventory, order management, and production. Depending on the size and complexity of your business, you may require one or both software solutions. Before making a decision, it’s important to evaluate the features and benefits of each system to determine the right fit for your business.

business performance graph on paper on desk

ERP software is considered to be a type of enterprise application, that is software designed to be used by larger businesses and often requires dedicated teams to customize and analyze the data and handle upgrades and deployment. In contrast, small business ERP applications are lightweight business management software solutions, often customized for a specific business industry or vertical.

Today most organizations implement ERP systems to replace legacy software or to incorporate ERP applications because no system currently exists. In fact, a 2016 study by Panorama Consulting Solutions, LLC., indicates that organizations implement ERP for these top reasons:

  • Out-of-date ERP software (49%)
  • Homegrown systems (16%)
  • Accounting software (15%)
  • Other non-ERP systems / had no system (20%)

Why are ERP systems modular?

ERP software is typically comprised of different modules so that business owners can adopt the specific tools that are applicable to them. ERP software is available with project management or CRM modules, for example, to help connect critical data points. Adopting ERP software with the relevant modules allows an entire company to work with the same comprehensive suite of tools, using the same database.

Modular ERP System

This level of consistent information helps key stakeholders within the company to communicate in a timely and meaningful manner through analysis. Furthermore, instead of guesstimating, leaders can estimate and adopt effective solutions to solve supply chain issues, etc.

Being a modular system also means that users can upgrade as they grow instead of spending big on a system with features that they can’t use. Think of it like this, you buy a computer, but as your needs grow it requires an upgrade, you start by replacing the CPU with the GPU, and so on. An ERP solution is similar as well.


Looking to upgrade your Accounting Software to an ERP solution?

Here are some key indicators that you need to upgrade to an ERP solution

Accounting,ERP,Accounting and ERP,accounting and finance erp,accounting and finance erp components
  1. Multiple trading entities
  2. Incomprehensible data
  3. Micromanaging Inventory in Multiple Locations
  4. Waning Supply Chain Management

To find out more, our article here goes further in-depth on identifying these critical indicators for your growing business.

Moreover, ERP software enables companies to:

Control their finances: With capabilities far beyond simple accounting software, ERP manages finances and cash flow, revenue and expenses, and cost accounting.

Digitize their reporting: Integrated management means that companies can gain insight and report on all processes, activities, and workflows. ERP software reduces paper-based transactions and reports and provides integrated monitoring of business performance and objectives.

Lower their IT costs: By using a single, streamlined solution, the IT burden of managing or integrating multiple systems is eased. Upgrades are simpler, deployment is easier, and scaling isn’t a problem.


So…

Accounting software focuses on core accounting functions such as budgeting, invoicing, payroll, and general ledger, while ERP software provides a more comprehensive solution, by connecting other business processes such as inventory, order management, and production. Depending on the size and complexity of your business, you may require one or both software solutions.

Before making a decision, it’s important to evaluate the features and benefits of each system to determine the right fit for your business. Let us help you on your digital transformation journey.

How do I export my transaction enquiries to Excel?

How do I export my transaction enquiries to excel?

There are times when exporting your transaction enquiries to Excel is needed, be it for more advanced filtering, or for sophisticated calculations.

This can be done with a simple click in Triumph. The Excel Export button transaction enquiries is available in all Triumph transaction enquiries, be it in General Ledger, Debtors, Creditors, Inventory, Job Costing, etc.

In the below example, we will use the Stock Transaction Enquiry. Now let’s make a start.

  1. Open the Stock Transaction Enquiry via the Stock Item Maintenance (I-F-A). stock item maintenance
  2. Click on the Excel Exportexcel graphic button on the Stock Transaction Enquiry.stock item maintenance
  3. This should open up Excel with the Transaction Enquiry information displayed.stock item maintenance

Note: The Excel Export button exports a .csv file, so if your default program to open .csv files is not Excel, it will open it in the default program.

How do I export my reports and listings to Excel?

How do I export my transaction enquiries to excel?

Have you wondered how to export your reports and listings out from Triumph into Microsoft Excel for further modifications?

To export a report or listing into Microsoft Excel, what you first need to do is to open up the report/listing and preview it. In this example we are previewing the Debtor Trail Balance (D-R-B).

  1. Click on the “Export Report” button in the top left corner of the preview.
    reports,excel
  2. Select “Microsoft Excel 97-2000 (XLS)” to export to Excel and the destination as “Application” then click “OK”.
    reports,excel
  3. Click “OK” again when prompted for formatting options for the reports.
    Reports
  4. This will bring up Microsoft Excel with your reports loaded.
    reports,excel
  5. From here you can save your Excel file for later use.

This works for all Crystal reports and listings in Triumph.

Note that on the cloud version of Triumph you can only view your reports in Excel. The full version of Excel is not installed or licensed for the cloud. In this situation, you can save the Excel file directly to your local computer if you have permission, or save it on the cloud, then use Windows File Explorer to copy and paste the reports back to your local computer.