Make Your Life Easier With Accounting Software
by Leeia Ladipoh on October 8th, 2007
The ease with which most businesses and individuals can purchase and use a personal computer has meant that some of the most mundane - and expensive - tasks of operating a small business have become much easier to manage. Where once a business would have to hire a trained accountant or several accountants to manage the financial side of the business, today purchasing a good software package means that you save a lot of money and time.
Of course, the time and money that you save will only come after you have purchased the right accounting software for your business - and that will only happen after an initial investment of both time and money on behalf of your business. In this article, we will take a look at some of the important factors in selecting an accounting program that is an ideal match for your business.
The most popular accounting programs
When it comes to accounting software, three programs rule the roost as far as popularity. Keep in mind that popularity alone should not be your only consideration, but it’s a pretty safe bet that these three packages did not become the best selling accounting computer applications without giving users what they needed.
* QuickBooks : This program has the largest market share of all accounting software packages. There are several different versions available, catering to a large cross section of businesses, both big and small.
* Peachtree Accounting : One of the oldest accounting applications out there.
* Microsoft Small Business : A recent innovation by the software giant, this package is best used when your financial operations are integrated with other Microsoft products such as MS Office or Excel.
Now, if you have taken a look at any of these packages and are a Mac user, you are probably feeling left out in the cold. None of the top three accounting software packages will work on a Mac platform, let alone Linux.
Selection Criteria
Whether you are working on a Windows platform or are looking for an accounting software package that will work with a different operating system, there are a few guidelines to keep in mind.
* Price . The first consideration for any small business owner will be price. The tricky thing with software, and not just accounting software, is that different features will add to the cost of the overall package. You don’t want to overpay by buying a package with applications that you don’t need, but you certainly don’t want to buy a low cost software package that does not include some vital accounting processes.
* Applications . Hand in hand with price comes determining which applications you want to see included with your accounting software package. If you aren’t using your computer network to calculate your payroll, you don’t need payroll applications. You should also make sure that your software package includes formulas for adding any applicable taxes to your business. In short, make sure to carefully read the package to ensure that everything you need is included, and that you won’t be buying a bunch of stuff you don’t need.
Incidental considerations (things you probably have already thought about, but deserve mentioning anyway) include the amount of space available on your computer or network, backup programs with the software (the very last thing you need is any of this information disappearing!) and of course your operating platform.