Custom accounting software: services, features & guidelines
the CAGR of the global accounting software market from 2025 to 2030
Grand View Research
of accountants believe not adopting new technologies will hinder the firm’s growth
Intuit
of companies that use accounting software saw a 75% reduction in financial errors
Gartner
Types of accounting software we deliver
Whether you need an extensive ERP suite with financial management modules, a standard accounting system with a rich feature set, or a more specialized tool for handling certain processes, Itransition delivers accounting solutions that precisely match your requirements.
Enterprise resource planning (ERP)
Itransition builds comprehensive software solutions designed to streamline multiple corporate functions and equipped with advanced accounting modules for financial planning, general ledger management, invoicing, and tax payment processing.
Enterprise accounting software
From accounts payable and receivables to profit and loss reporting and bank reconciliation, our custom accounting systems for large enterprises come with a comprehensive range of functionalities covering every major aspect of financial management.
Specialized accounting software
We develop standalone solutions, such as automated billing systems and financial statement software, for small businesses and startups or larger companies planning to complement their accounting toolkit with more specialized applications.
Our services
Itransition provides end-to-end consulting and development services covering every step required to deliver custom accounting software and keep it high-performing, secure, and aligned with your current financial and regulatory requirements.
Consulting
Our consultants elicit your project goals and expectations and assess your financial processes. Based on these findings, they help you define the accounting solution’s functional and non-functional requirements, select an optimal tech stack, and set up an adoption roadmap detailing the project's scope, budget, and schedule.
Custom software development
Based on the software specification detailing architecture, features, and UX/UI, we perform front-end and back-end development through multiple iterations according to the Agile methodology. For AI-based solutions, we also carry out data pre-processing, modeling, and AI model integration into the software architecture. Finally, we set up all necessary software integrations via pre-built connectors, APIs, or ESB.
QA & testing
Itransition’s team takes care of quality assurance and testing, including functional, performance, compatibility, and security tests, to address bugs, UX design flaws, or other issues that can affect the software components, ensuring your application is safe, reliable, and user-friendly.
Maintenance & support
Our company provides adaptive, perfective, corrective, and preventive maintenance services to supervise and optimize your custom solution, together with demoing, user training, and support to help your company implement the application into its financial operations. We can also upgrade your accounting software with new modules, features, and functional improvements according to your requirements and feedback.
Adopt a custom accounting solution with Itransition's guidance
Client spotlight
300,000
incoming bills handled per month
Online billing management software
Itransition revamped a SaaS billing management solution for an accounting and tax management software provider. We migrated the solution to Microsoft Azure to improve its maintainability and scalability, implemented multiple custom features, including invoice approval workflow customization and automation, report generation, and electronic signature, and created integrations with popular accounting platforms like QuickBooks and NetSuite.
Healthcare BPM with budgeting features
We provided a US medical staffing organization with an Odoo-based BPM solution featuring ERP, CRM, HR, and accounting-focused capabilities. The new software features a budget calculation module for monitoring the flow of funds as well as an integration with the payroll management solution utilized by the client.
Key features for accounting software
We implement a set of features fully aligned with your company type, operational scenario, and specific accounting workflows.
Purchase & sales orders
Preparing and issuing digital PO or SO documents to external suppliers and customers respectively, detailing types, quantities, and agreed prices for products and services provided.
Journal entry
Recording external or intercompany transactions in the accounting journal to update debit and credit balances and attaching any related documentation, such as invoices or leases.
Accounts payable
Facilitating AP operations, including order data recording, invoice routing and validation, invoice/purchase order matching, payment scheduling, and automated notifications to accountants.
Accounts receivables
Speeding up AR processes, such as multi-channel payment collection, tracking of received and due amounts, and reminders to customers to minimize days sales outstanding.
General ledger
Aggregating accounting data from sub-ledgers (such as AP/AR) via automated GL entries, assigning GL codes to categorize transactions, and calculating debit and credit balances.
Profit & loss
Compiling P&L statements detailing the revenues and expenses incurred over a quarter or fiscal year based on multiple financial reports to monitor profitability and optimize budgeting.
Bank reconciliation
Cross-checking financial transactions reported in bank statements and corporate financial records to verify their correspondence, spot discrepancies, and trigger manual validation requests.
Invoicing
Generating, approving, and submitting bills to customers via rule-based automation and customizable templates, applying taxes, discounts, or interests, and tracking the invoice status.
Asset & inventory management
Calculating the value of fixed assets and inventory items, such as raw materials and finished goods, across multiple warehouses and updating the stock mix based on sales and purchase orders.
Financial close management
Consolidating and reconciling transaction data from multiple accounts, searching for inconsistencies, and re-adjusting account balances to generate reports on the company’s financial position.
Tax calculation
Calculating VAT/GST, withholding, payroll taxes, and custom duties based on configurable formulas and parameters, including region-specific rates, and submitting tax returns.
Security & compliance
Ensuring adherence to standards and regulations (GDPR, IFRS, GAAP, etc.) while protecting sensitive information via role-based access, data encryption, and multi-factor authentication.
Accounting software integrations
We integrate your custom accounting solution with other applications to enable seamless financial data exchange and turn your corporate toolkit into a unified software ecosystem. Our experts will also help you select the most suitable integration model.
Software to integrate with
ERP
to retrieve data on partners, orders, and payments and prepare financial plans based on sales performance
to add information on customers, orders, and payment terms to invoices, facilitating quote and bill management
to track financial performance via intuitive dashboards, streamline reporting and auditing, and support budgeting decisions
PIM software
to import product information for more accurate order and invoice management
to streamline expense tracking and management as well as calculate payroll and compensation based on working hours and shifts
Procurement software
to speed up purchase order approval and match orders with the related invoices
Cash flow management software
to record financial transactions in the general ledger and sub-ledgers
Payment gateways
to import data on in-store and ecommerce transactions and monitor customer payment history
Bank accounts
to facilitate reconciliation between corporate records and bank statements
to calculate the value of materials and products and generate stock reports in real time
Asset management software
to track equipment value, maintenance costs, and depreciation
Approaches
Custom integrations
built specifically to connect your accounting software and other systems, enabling full control over the integrated solutions
iPaaS-based integrations
relying on cloud platforms that handle data transformation and transfer across applications
Integration methods
Interface embedding
entailing the UI of one system integrated into another
API-based integration
using application program interfaces and enabling the exchange of both data and commands
ESB-based integration
relying on a middleware architecture to mediate communication among multiple apps
Data synchronization
involving integration via ETL or ELT pipelines
Factors to consider
- Number of integrations required
- Uni- or bi-directional integrations
- Possibility of backdate changes in data
- Granularity of the data exchanged
Partner with Itransition to build your custom accounting software
Custom vs off-the-shelf accounting software
At the beginning of your accounting software adoption project, Itransition's consultants will help you decide whether to build a custom application from scratch or opt for an off-the-shelf solution. Here are some parameters to keep in mind.
Custom solution
Off-the-shelf solution
Features
Features
A bespoke set of features and modules to meet your specific business needs
A fixed range of built-in features established by the software vendor
Costs
Costs
Higher upfront investment for the software development process
Higher long-term costs of ownership to cover the license fees
Timeline
Timeline
Longer adoption time frame due to design, development, and testing
Faster time-to-market as the solution is ready for deployment
Support
Support
Your in-house IT staff takes care of software updates, fine-tuning, and troubleshooting
The software subscription typically includes ongoing maintenance, support, and updates
Modifications
Modifications
Extensive configuration and customization options to adapt to your changing accounting needs
Limited possibilities within predefined settings the vendor decided upon
Integrations
Integrations
More flexible custom integrations configured by your IT specialists
Native, pre-configured integrations working with compatible third-party software
Change management
Change management
The solution is adjusted to your existing workflows and tech stack, so its adoption requires minor changes
Adopting software with fixed functionalities may require multiple operational or technical changes
Target companies
Target companies
Enterprises with specific business requirements and established workflows
Organizations with limited budgets and more flexible business processes
Benefits of custom accounting software
Implementing a custom accounting solution helps companies enhance the operational and decision-making capabilities of their finance departments and the organization as a whole.
Accounting software development cost factors
Multiple factors influence the development cost and TCO of a custom accounting software solution. Consult Itransition’s experts for a preliminary budget estimate based on your specific needs and business scenario.
Architecture & functional scope
The set of features and modules making up the accounting solution and defining its capabilities
User base
The number of users who will access the tool and UX/UI customizations based on user roles
Technology stack
The cost of the technologies used, including cloud-based services, third-party licenses, and hardware
Deployment model
The environment where the application will be hosted (on-premises, cloud, or hybrid)
Integration capabilities
The number and type of data or software integrations with external sources and other systems
Data management
Any data-related activity, such as data cleansing, annotation, transformation, storage, and migration
Development team composition
Project manager, business analyst, solution architects, UX/UI designers, developers, QA engineers, DevOps engineer, and other niche specialists
Training, support, and maintenance
Various activities to train users, ensure your software’s correct operation, and provide further upgrades
Related services
Financial software development
Itransition provides organizations with financial software solutions designed to streamline their financial processes, including wealth management, trading, and reporting.
Banking software development
Our team builds banking applications that help financial institutions automate account management, payment processing, loan servicing, currency exchange, and money transfers.
Financial data analytics
Itransition develops data analytics tools that help organizations get insights into their financial performance, optimize budget planning and investments, and mitigate financial risks.
Document management software
We deliver document management systems to effectively create, store, catalog, and retrieve different types of documents, such as contracts, invoices, or tax reports.
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