It's the End of the Line for eLedger

Software application service provider (ASP), eLedger, announced this week that, effective May 31, the company will no longer offer software services over the Internet.

"The current adoption rate is not sufficient to sustain us, and we have been unable to secure additional capital in the current economic environment," said Lee Mellinger, eLedger president and chief executive.

Licenses for the eLedger software will be available for sale to interested buyers. The source code will include eLedger 2.2, the company's current production Web ledger product, as well as its unreleased eLedger ASP Server and eLedger Business Manager products based on its proprietary Internet ObjAcct Accounting Platform.

According to Mr. Mellinger, there are three types of organizations that might benefit from owning the source code:

  • A company that is interested in developing an ASP
  • Portals and ASPs interested in adding to their offerings
  • Enterprises requiring an accounting system with a remote access feature

Other online accounting programs include Netledger, Virtual Growth, and Intacct.

You may like these other stories...

As complex as federal tax can get, at least you're only dealing with one agency: the IRS. But when you get into state and local sales tax, you're coordinating hundreds of jurisdictions that are constantly changing....
All that was needed on Tuesday was a voice vote for the House of Representatives to pass a bill that would prevent state and local governments from taxing access to the Internet.Now the ball is in the Senate’s court....
Many bootstrapped startups do not have the budgets to bring on dedicated IT experts who can build out infrastructure and provide immediate solutions to end users. Small businesses must simplify both hardware and software...

Upcoming CPE Webinars

Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.
Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.