Thanks to the advances in technology, the days of doing your accounting with pen and paper are over. Accounting has now transitioned onto the digital landscape through various types of accounting software like QuickBooks and Peachtree. While you still require the actual ability to manage and calculate numbers, accounting software has made things simpler in terms of financial management.
However, because of the various types of software, there are some questions you should ask yourself before investing in one. There’s nothing worse than spending $150 to $800 on an accounting platform, and feeling unfulfilled. In today’s post, we’re going to talk about some of things you should inquire about when purchasing an accounting software.
What Features are Included?
Each accounting software is different and comes with its own features. It is important to ensure that whichever software you decide to go with has features that suit your business’ needs. Whether it’s the ability to schedule and send invoices or track sales and expenses, the only way to utilize your software to its fullest potential is to make sure it comes with everything you need.
How Much Does it Cost?
Considering the fact that you cannot use a software you can’t afford, price is pretty significant. Accounting software varies in cost, ranging from $150 to $800. Finding the right software isn’t just about which features work best but also what’s in your budget. Remember that accounting software is an investment but to also think twice before spending the big bucks.
Is It Cloud-Based?
Are you an accountant that’s always on the move? If so, then it’s important that you have an accounting software that is cloud based. This means you can access your financial information from anywhere with an internet connection. Not only is cloud based accounting software more convenient but it also protects your information in case something happens to computer.
Is it User-Friendly?
Accounting Software is not only used by accountants but bookkeepers as well. Different software can come with various intricacies that may require a learning curve and training. Investing in an accounting software that is more user-friendly means that it will be easier to manage. This frees up time that would’ve been spent on training and implementation. Also, the more user-friendly a software is, the less likely mistakes are to occur.
How Secure Is It?
When it comes to your financial information, security is a big deal. Remember to inquire about your accounting software’s safeguards to guarantee the protection of your data from harmful intrusions and theft. Most types of software keep track of changes made and provide alerts relating to suspicious activity. Choose an accounting software that makes you feel secure and comfortable when inputting your information.
Is It Compatible with Other Devices?
Some accounting software is more compatible than others. For those constantly on the move, look into software that allows you to check your financial information from your smartphone or tablet device. On the other hand, there is accounting software that only works with specific operating systems, which is also something to consider.
Thanks to its many choices, investing in an accounting software is a big decision. Remember to consider the many variables that go into purchasing and using a software before coming to a conclusion. With a little bit of prior planning and smart decision making, we’re sure that you’ll find the right accounting software for you and your business. Happy Hunting!