Someone has to keep track of the “numbers” at your company and it looks like it is you!
Where does one start when it comes to choosing and then implementing an accounting and bookkeeping software package? With so many options to choose from, what attributes should I consider? Here are a few things to consider when choosing a software package:
Features. What do you need it to do? Is this about receivables and payables? What kind of reports should it generate? Should it track inventory, payroll and project management?
Usability. Can it be accessed from anywhere (cloud based) or is it a desktop-only package? How many users can access it at one time? Is there a mobile app version of it?
And cost. Can you only afford a low-cost basic package, or can you ante up for something deep with features?
What are the advantages to using an accounting software package?
- Saving time.
- Being more accurate.
- Putting all financial tasks in one place.
- Reducing costs (see time savings above).
So, what’s available and how much should I be prepared to spend? Here’s a list of the most popular packages out there (in no particular ranked order):
- AccountEdge Pro
- Sage Business Cloud Accounting
- Wave Accounting
- Zoho Books.
As with any service, product or offering, there is no one-size fits all: check out demos, read up and consider a trial before buying.
Do you do your own accounting internally using a third-party software package? Are you up to managing this process efficiently? If not, you should consider outsourcing your accounting needs to a third-party provider. TFO Solutions is just such a company.
For more on how to manage your finances, call or write to us. TFO Solutions is dedicated to helping entrepreneurs and business owners with their financial strategy from the back office to the boardroom.
*photos courtesy of Unsplash (Kelly Sikkema and Sigmund Quusek, photographers)