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...

Regulatory compliance, risk management and cost-cutting are the big heartburn issues for finance execs in the C-suite. Yet financial planning and analysis—a key antacid—is insufficient.That's just one of the...
Continuing its efforts to simplify accounting procedures, the FASB has issued a proposed Accounting Standards Update on customer fees paid in a cloud computing arrangement. The newly-proposed update (Intangibles—...
How are you planning? What tools do you use (or fail to use) for forecasting? PlanGuru is a business budgeting, forecasting, and performance review software company based in White Plains, N.Y. AccountingWEB recently spoke...

Already a member? log in here.

Upcoming CPE Webinars

Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 10
Transfer your knowledge and experience to prepare your team for the challenges and opportunities of an accounting career.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.
Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.