The moment you type in “bookkeeping software” in a search box, you are flooded with a long list that pops onto your screen. Today the accounting industry is swamped by a plethora of bookkeeping software, with almost all offering the same benefits.
In a rapidly evolving technological environment these benefits could become redundant too soon. This makes it doubly hard when it comes to choosing a bookkeeping software to suit you.
Here are 6 key things you must consider when choosing the right bookkeeping software for your business:
The Size of Your Business
How big is your business? How many people make up your organization? What are your plans for expansion?
These are some of the questions that affect your choice. If you’re a small organisation, it goes to say that you don’t need to buy excess add-ons in your software that you don’t actually need. The main idea behind bookkeeping software is to ease the work process and not complicate it.
Features you need
You should ask yourself what features you really intend to use in a bookkeeping software. Some software offer basic features for small businesses while others include powerful modules such as budgeting, invoicing, bank reconciliations and credit card processing- some of which may not be entirely useful to a bookkeeper.
Industry you operate in
Most modern bookkeeping software today is tailored to suit different industry needs. Before embarking on buying software, always bear in mind to look for software that caters to all your requirements. Industry specific software maybe more expensive than a generic one, but would suit your business, with benefits outweighing costs.
Navigating the software
Like any other new concept, having to manage your financial records on bookkeeping software can be tiresome. The main reason being navigating a new platform and acclimatizing oneself takes time. The simplest way to tackle this is to only avail of what you need. Focus on what needs to be done and learn the rest as you go along.
Your business is not going to be static and so why should your software be. Always choose a software that is flexible enough to grow with your business. You don’t want changing from a basic software to a more powerful one if your business becomes bigger. Importing or upgrading all records to a new software can be a big hassle, one that you would want to avoid
After sales support
The whole idea behind investing in software is to assist in managing and streamlining your business more effectively. Purchasing a software product is only part of the way towards achieving your end goal. Getting a software product that can help you as well as providing after sales support is worthy of consideration. It’s common practice to ask certain questions when you’re starting to use the product. Most small business bookkeeping software offer free support via email or phone that you can take advantage of.