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How to choose the best accounting software for your business.

Accounting software is built to help you manage your business finances and can be as simple as automating bookkeeping to including stock management and multi-currency financials.

The software may be created to run on different versions based on your business needs or run on one singular plan that is updated as and when needed.

Choose the best accounting software to benefit your business

 

When choosing the best accounting software for your business needs, remember to factor in all the benefits that are associated with investing in good software. Although pricing will be a major initial factor, consider accuracy and speed (among many other benefits) that will eventually be worth the investment.Accounting Software

Accuracy

Incorrect calculations caused by human error will result in both short and long-term increased running costs. These errors in calculations can be avoided altogether by using accounting software as these programs are designed to handle both small and complex mathematical. Keep in mind that although the software will compute calculations correctly, it is up to the person entering data to do it correctly.

Speed

Accounting software is programmed to improve efficiencies in your business and one of the most important benefits is to save time. By handling many seemingly minor tasks such as calculations, invoices and reports the software will already be saving your business a great deal of time. As you move up the ladder to more complex programmes which simplify tasks such as stock management and multiple business financials, you will be saving hours and possibly even days of time and resource.

Cost

Reducing cost is a high-priority factor for any business. When it comes to the use of software, consider that because it’s saving you time and minimizing errors, in the long-term your operational costs will be reduced. You can then redistribute this money to staff or research and development to grow your business.

What to consider when buying accounting software for your business?

 

There are several factors to take into consideration when investing in accounting software for your business. Do as much research as possible – both online and by asking fellow accountants and business partners.

Consider the following factors:

  • Number of users
  • Monthly or yearly costs
  • Add-ons that are free versus essential add-ons that you need to pay for
  • Support and training (both onsite and online)
  • System requirements for installation
  • Security and data encryption
  • Integration with other software such as Microsoft Word/Excel
  • Is there a trial period during which you can test the software?
  • Are software upgrades included in the price?

Why choose QuickBooks as your business accounting software?

 

Apart from a range of accounting solutions available, both cloud-based and locally installed – QuickBooks has been ranked as one of the best accounting solutions globally;

“…striking a balance between a simple user interface and sound accounting tools.” – Nicola Sinclair, GAA Accounting, the journal of the Global Accounting Alliance.

Contact our team to help you choose the perfect option – whether you need a simple accounting solution for a small business or a complete accounting software package.

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