The times have changed since you needed a pen and paper in order to maintain the books for a business. The world has moved online. Accounting software is taking over revenue tracking, forecasting sales and managing inventory for businesses - regardless of their size.
Business accounting software scraps human error that is part and parcel of doing everything manually. Instead it enables you to easily access the vital information without the hassle.
Even better still, there are numerous cloud accounting software options available. Finding the right accounting software can be a difficult decision to make but there are five ways to help you in your search for the right solution. Alternatively, use our free app recommendation tool to get a free recommendation tailored to your business by clicking here.
Choose The Right Accounting Software
1. What Are Your Accounting Software Requirements?
It is vital that you take into consideration how much money your business pulls in annually when it comes to choosing the right accounting software. A business that pulls in several million yearly will require a different software solution to a company that invoices thousands. The way your business operates is also something you must take into consideration as there are a large array of different accounting software systems available.
You need to consider software that is designed specifically for your business and what you do; there are plenty of systems that are industry specific and you need to find your niche, and theirs. Whether it be manufacturing, hospitality, retail or commercial, there is a suitable system and plan available for you.
The application that you eventually decide on is going to have large implications on your revenue, so make sure you consider this carefully. You must also realise and consider that whilst the best accounting software small business is going to make bookkeeping easier for you, you still do need to be financially literate in order to use it effectively. Despite the application sophistication, it is still only there as a tool to help and guide you rather than do the work for you. You need to know what to do with the software once it's in place.
If you would like to use our free accounting software recommendation tool to find which accounting solution is best for your industry and specific business needs simply click here.
2. Have You Considered Cloud Accounting Apps?
Cloud accounting applications come with an entire assortment of beneficial features
- They can be accessed anywhere
- No software licenses or servers need to be purchased
- Upgrades and patches are done automatically
- You can access them from any device with a web browser
- Your records are kept safe and secure at a data centre rather than a filing cabinet
- Many cloud accounting apps integrate with your oher cloud apps saving you time
Read more about the accouning software and benefits of cloud business apps here.
3. What Is Your Accounting Budget?
Business accounting software is available to you no matter what your budget is. Generally, you can access apps for a low monthly price that scales with your business so the larger your organisation, and the more features your require, the dearer the price.
Cloud accounting apps allow you to pay on a monthly or yearly basis. You can choose a subscription that meets your business needs rather than buying the software outright and having to update later. If you decide to purchase a year long subscription you will also often pay a discounted rate.
4. Have You Thought About Accounting Add Ons?
Add-on features generally allow flexibility, functionality and personalisation. The incorporation of an accounting app add-ons may allow you to access the software remotely, accept payments online and amalgamate your ecommerce software with your accounting software. Additionally, you can incorporate your tax software as it's also generally compatible.
Before deciding on your accounting app, consider which software you are already using. Does it integrate with any accounting software? Integrations can save you a significant amount of time on paperwork: as you avoid double handling the same data, read more about accounting add ons here.
5. Have You Sought Out Expert Advice?
Using your accountant when you are making the decision about which app would suit you is not a necessity but it could help you choose something that is going to be compatible with what they have in place already. Additionally, your accountant is probably in a much better position in terms of knowledge and experience to make an educated decision on what would suit you and your business best.
Alternatively, you can ask us to make a recommendation based on your industry, business, and specific requirements.
The team here at Zrilo have years of experience working with cloud accounting apps, and are partners of numerous apps; allowing us to provide you with an agnostic recommendation. Simply click here or the button below.