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...

We're all about QuickBooks this morning. First, read this late-breaking news from John Stokdyk, editor of AccountingWEB (U.K.), who is attending the QuickBooks Connect conference in San Jose, California. Then, for more...
Technology—specifically internet technology—has a record of disrupting tried-and-true methods of operation in ways that we often don't foresee. Look no further than the recent HBO announcement that they *gasp...
If you're thinking that bitcoin and digital currency generally are merely some one-off flash in the pan, the new Digital Currency Council would argue otherwise. The council launched in September and already had 400...

Already a member? log in here.

Upcoming CPE Webinars

Oct 23Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.
Oct 30Many Excel users have a love-hate relationship with workbook links.
Nov 5Join CPA thought leader and peer reviewer Rob Cameron and learn ways to improve the outcome of your peer reviews while maximizing the value of your engagement workflow.
Nov 12This webcast presents basic principles of revenue recognition, including new ASU 2014-09 for the contract method. Also, CPAs in industries who want a refresher on revenue accounting standards will benefit.