20 Questions on Open-Source Accounting Software

Open source systems (OSS), such as Linux, have become a viable choice for operating platforms and servers. Currently, open source software programs are emerging with accounting, financial, and enterprise applications. The 20 questions answered below address the concerns

Key areas of concern include functionality, compatibility, stability, pricing, software licensing, technical support, and maintenance costs. While accounting and financial OSS arc still in the early stages of development, CPAs and managers should understand the technology in order to evaluate the suitability of these systems for their needs.

1. Why Are Open Source Accounting Systems Important?

As competition increases in the business environment, managers must search for new ways to operate more efficiently. OSSs have matured and gained widespread acceptance in the technical infrastructure domain. With the emergence of full-function open source accounting systems, they are now a feasible alternative for organizations. OSSs can be downloaded free of charge and often have the same functions as expensive proprietary systems, allowing clients to migrate to OSS at a low total cost of ownership (TCO).