Choosing the Right Accounting Software
Whether you’re a large organisation or small business, there’s a good chance you need to rely on accounting software to help manage your company’s finances.
These kind of platforms make it easy stay on top of incomes and expenses, generate invoices and track bills, manage teams and projects, and more.
When used efficiently, these programmes can massively cut down on user-time, saving you money in the long run. But, choosing this kind of software can be challenging, even daunting. With so much out there, how can you be sure what’s best for your organisation’s needs? Every business has different requirements in their search, but here are the top three things we think every company should consider.
Cost
It’s essential you go with a software that will save you money — even if that means a monthly ongoing cost or initial upfront purchase. Most software will put you on a ‘plan’ (similar to a mobile plan) and charge per user, with an extra charge on additional features or upgrade options. What you pay commonly depends on the features included in your plan. It’s worth investigating to make sure you’re getting exactly what you need, at a price that suits your budget.
Features
Many expensive software plans include advanced features, which most businesses don’t actually need. Generally speaking, it’s best to opt for the basics, and then upgrade if you need more functionality. Some relevant features to lookout for include Single Touch Payroll, multiple user capability, device support (like a mobile app), and third-party integrations (for example, connecting the software to your bank account).
Flexibility
Can your chosen accounting software grow with your business? You may not need many features now, but it’s definitely worth planning ahead. Avoid having to swap, signup, and install new programmes every few years to cater to your evolving business needs, and choose a flexible programme that can develop with you. Don’t get bogged down in rigid functionality. Find something with suitable upgrades and feature add-ons that you can chop and change as you need.
We’re Here to Help
Need a hand choosing the right accounting software for your business? We’d love to answer your questions, provide some clarity, and chat about the possibilities. Contact us today!