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Tech which makes Sense

Small business accounting software is a powerful tool. Are you moving from a manual system or maybe you are ready to start doing the accounting yourself instead of doing it outside? Perhaps you are setting up an accounting business yourself. In any of these cases, the software you choose can help your business grow. Here are 5 tips for choosing wisely.

1. Do you know what you want?

Any accounting software will perform the basic accounting functions of general ledger, accounts receivable, accounts payable, and cash functions. But you often need more, depending on your industry. So the best investment you can make for a collection software is to define what your needs are. Do you want payroll software or will you do your payroll outside? Do you need job cost records? Also, what reports will help you? Take time to define your requirements.

2. The price is more than what it costs!

By that I mean that “free” software is not free. Learning software is often a higher cost in time and effort than the initial cost. Don’t forget the training costs too if you have staff. Choose the wrong software and you might as well go through all that again soon. There are no “free” puppies and there is no “free” software!

3. Where is the help?

You’ll need some help learning how to use the software, and you’ll probably need ongoing support as well. Now, hopefully not much, but someone should solve any problems that come up. Is the only help just a manual? Is it through a toll free number? Maybe you can get local help? Local accounting firms are often experts in major software products. Plan ahead for unavoidable problems.

4. Can you graduate?

As your business grows, you may need more accounting power. Pick a few brands of software and you’ll be able to upgrade to more power with no problem. If you have to switch software brands, you’ll have to pay the initial training costs again. Consider if you can upgrade.

5. Make the most of what you get!

The generation of tax forms and government documents is one of the objectives of an accounting software package. That’s staying out of trouble. But accounting is so much more powerful than just staying out of trouble. The right software can help you produce reports that help you make decisions. Better information can lead to more profits and better cost control.

Accounting software or bookkeeping software is a powerful tool for running a business. The cost of a software system is more than what you pay up front. Also remember the training costs. Make a wise choice and you can save money and prepare for future growth.

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