Factors To Consider When Buying A Small Business Accounting Software

August 17th, 2006 Comments off
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When choosing an appropriate accounting software, it is critical that we should plan ahead as a smart business decision will later save us plenty of time and money in the future.

The following includes some of the factors to consider when buying a small business accounting software

1. Scalability

It is always very important to remember that as the company business expands, the business accounting software should also change accordingly. This is particularly true pertaining to the increase in products and services offered and the number of employees.

Wherever possible, when we choose our accounting package we should try to visualize our business in 3 or 5 years time and how different it will be. Use this information to guide the purchase decision. It may well be better to pay a little more now for the software knowing that it can be easily upgraded when needed with minimum disruption and cost to our business

 

2. Support

It is important that any software has great support for when something goes wrong (and it always does).

Secondly, we should ensure that the support should be local or as close as possible to us. Imagine that things need done with the software by someone trying to help you over the phone.

Wherever possible, make some enquiries with other businesses about the package they use and who helps them.

3. Accountant Interface

It’s most unlikely we will handle every aspect of our businesses accounting. The accountant is an important factor in making the right decision. What software are they used to working with and what do they prefer?

Can we easily supply them data and reports from our accounting package without the need for any extra work (which we will have to pay for).

We should interface with them when we are thinking of buying the accounting software.

4. Best Value For Money

Once we have selected the right package for your business the most logical step is to shop for the best value for money.

Shop around as the price can vary greatly and the product is exactly the same unless the price differential is with good support or installation assistance.

5. Major Brands

Wherever possible, we should choose the most popular and major brand to avoid the hussle of dealing with some unknown accounting software house.

Furthermore by choosing a major brand we can get regular updates and also know that the company will be around as long as your business needs them.

6. Ease of Use

Ease of use is a personal thing but it is worth trying the software before you buy it if you can.

Remember to get the person who will be the main user to test the software as well.

Also consider how well the package can interact with other software we are using.

Nowadays, the modern accounting software should come with the import and export data function where the import and export of data to spreadsheet or vice versa are easily done. With this capabilities, just in case, there can more detailed analysis be able to be done.

 

7. Features Needed

Most accounting software packages come in several different versions.

If we don’t need certain features now and can’t see a need for them in the future then we need not buy them.

The major differences are usually – number of users allowed, number of reports available and others..

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