Small Businesses

7 Things to Consider before Buying Small Business Accounting Software

For small business owners, the world of small business accounting software is a maze. The best business decision you can make is choosing the right package.

Here are the seven factors you should consider before buying a product that will help your business achieve its goals.

1. Scalability

Companies change over time, so it is important that small business accounting software can also change. There are some
Things that change frequently include the number and quality of the products and services provided and the number and quality of the employees. Imagine your business in five years’ time. Or ten years. It will be very different. This information will help you make a decision about your purchase. You may be able to afford a bit more for software, knowing that it is easily accessible.
You can upgrade your business whenever you need it with minimum disruptions and costs.

2. Support

Software should have great support in case something goes wrong. This is a fact that it has always done. Most major companies
While you can provide support, it is important to consider local support. It’s usually easier to get help locally.
You can come in to do the things that you need with your software, rather than having someone over the phone. Do some!
Ask other businesses for information about their package and who they help.

3. Accountant Interface

It is unlikely that you will manage all aspects of your business accounting. It is important to consult your accountant before making a decision. What software is they familiar with? Are they able to easily access data and reports using your software without any additional work (which will cost you extra)? As they are living and breathing this stuff, don’t be afraid of asking their opinions.

4. Best Value for Money

You can get the best deal once you’ve selected the right package. Compare prices to find the best deal.
The product may vary in price, but the product will be the same. Amazon, an online retailer, may be able to offer lower pricing due the large number of products they sell. But price is just one aspect of the equation. If a local merchant offers support and installation assistance, this could be even more valuable.

5. Major Brands

Two players dominate the small business accounting software market. Peachtree and QuickBooks are the two major players in the small business accounting software market. Microsoft is expected soon to enter the market. I recommend you choose a major brand because you will get regular updates and the company will still be around for as long as your business requires them.

6. It’s easy to use

It is personal preference, but it is worth testing out the software before buying it. It is important to have the primary user test the software. Consider how well the package will interact with any other software that you may use. This is an advantage that Microsoft packages may offer, when they are available.

7. You will need to have the following features

This is something I spoke about earlier, when I was talking about looking ahead to see where your business will go in five or ten year’s time. Most
There are many versions of accounting software. You don’t have to use certain features right now, and you won’t be using them again in the future. There are three main differences: inventory management capabilities, number of users and reports.

Summarising, think ahead about your purchase of small-business accounting software. This will help you make better decisions.
A business decision that saves you money and time in the long-term is a smart one.

molw.net

We are a team of professionals with each having two decades of experience in start-ups, sales, marketing, finance, HR, large scale project and profit centre management and running mature cross functional operations. At Molw.net we are big believers that knowledge transfer is critical to our industry’s evolution. We love to share our experiences and learnings through our online resources.

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