8 Questions you should ask when choosing the right accounting software for your business
Are you struggling to choose the right business accounting software? Overwhelmed by the many options? You’re not alone...
More choice isn’t always better. Indeed, countless studies support the finding that when we have too many options, we often fail to make a decision for fear we’re making the wrong choice. As a small business owner, you face a similar challenge when it comes to choosing your accounting software. Fret no more! Let us help find the best accounting software for your business by asking all the right questions.
1. What Are My Needs?
Before you even start researching different business accounting software, assess your needs. Think about the accounting tasks that are significant for your business. Do you have simple needs like sending invoices, managing expenses and tracking cash flow? Or do you have more complex needs like inventory control, payroll management and customer service?
Once you understand your needs, you can shift your attention toward finding a solution. Beyond your day-to-day needs, think about the areas of your business that you want to grow. You want a solution that works for you today (without overwhelming) but that can scale with your business too!
2. Is the Business Accounting Software Built For Me?
No two accounting software are the same. There are some work generally for everyone, and some target different business needs. It differ in both the type and amount of features they offer, and vary in cost. So look and see if there’s an accounting software built for your particular industry and those that match your needs. If you're a small service-based or trading-based business owner, ABSS accounting software (formerly known as MYOB accounting software) is the right solution. It's designed for you and provides only the features you need. If you’re a restaurateur, ABSS Retail Manager will be the better solution.
3. Is the Accounting Software Easy to Use?
The more difficult any accounting software is to use, the more possible you might find yourself in frustrations and limitations. So you want your new accounting software to be easy to adopt and simple to use. You don’t want something that’s
marketed to corporate accountants if you aren’t one! Anything too specialized or expert is going to end up unused and you’ll then be in a worse place than when you started! Ask for a demo from the accounting software provider to see it for yourself.
4. Is the Accounting Software Secure?
No matter is a cloud-based or on-premises accounting software, security is equally important. Without tight security, hackers can steal you and your customer's personal information. That’s not to mention critical financial data. See what security protocols the cloud-based accounting software are using or if you go for on-premises accounting sofware, find out how you can secure your data. Remember: Always backup your data. You can also find out how you can have automated data backup if possible.
5. What's the Customer Support Like?
Customer support is essential. When you have a problem, you want prompt service. Any top business accounting software provider is serious about customer support. Support is available through many channels: email, telephone and remote assistance. Be wary of providers that don’t have support numbers and emails listed online. It suggests they don't want you to contact them, aren't committed to helping you or both.
6. Does It Support Useful Integrations?
Check to see if the accounting software supports useful integration and not a 'nice-to-have." For example, ABSS (formerly known as MYOB) offers add-ons such as ABSS BI4Cloud, ABSS Webstore, ABSS Retail Manager, ABSS Click to Pay, ezyCollect and many mores.
7. Will the Accounting Software Grow with My Business?
There’s nothing worse than purchasing a solution only to find that it doesn’t support your growth. While today you might be content to send invoices to clients, track your expenses and get paid online, you might look for more sophisticated features as your business grows. So, yes think about your immediate needs, but also consider what happens when you start working with teams, or need to build financial reports.
For example ABSS accounting software offers three version—Accounting, Premier and Premier Plus—at affordable prices to support your growth.
8. Is the Accounting Software on Budget?
Like ABSS (formerly known as MYOB), many accounting software offer a free 30-days trial period. Take a moment to look at the features and pricing, ensure your budget is realistic given the features you want and make sure to select the right software that complements your business today.
If the accounting software saves you time so you get more time for sales—it's definitely worth it.
Choosing the right business accounting software doesn’t have to be a difficult task. You don’t have to feel crippled by choice. You just need to ask (and answer) the right questions. Do that and you’ll narrow down your list and find the right solution. A solution that’s the perfect fit. A solution that offers the exact features your business needs.
For more information on ABSS (formerly known as MYOB) accounting software kindly contact us today.