How to Select the Best Accounting Software

Basic Points to consider before

choosing a Accounting

Software

• Try and test free solutions if you have just started your business.

• If your business is growing rapidly, its time to select a more efficient and a scalable solution

• Consider your pressing needs for buying / replacing existing accounting software

Size

Stage

Routine Accounting task

Automated processes

Templates for creation of estimates and proposal

Tax preparation

Multiuser access

Multi device access

Third Party Acesss

Basic Features

Select C loud Based Accounting Software

If your company is small

Your employees are working at different location

If you are Short On Budget

Select On Premise Accounting Software

If your company is growing

For High Data Security, On premise is preferred

If you are looking for a Long term solution

Steps for Selecting and Accounting software

• Choose a Optimum Budget for the

Software

• Incase you are not sure about the

software try free solution Available online

• Based on the requirement, select the

features and match it with the budget

Step 1: Decide a Budget

Step 2: Ask Questions to Vendors

Which size of business their solution caters to?

Is their solution fit for your industry?

Do they offer customized solutions?

Security measures for securing the data.

Types of customer support and its availability.

Pricing for different packages and discounts.

Step 3:Shortlist Vendors

• After asking different vendors about their solution, look for the most preferred solution based on features

• Check the pricing and quotation given by the Vendors

• Based on the above two parameters , prepare a list of vendors who are preferable over the others

Step 4:Competitors and Industry Analysis

Find out what your close competitors are using

Find out what other business in your industry are using

Find out all positives and negatives of the solution they are using

Search internet groups and blogs specific to your industry for different option

AVOID lots of search to avoid confusion

Speak to your accountant about

the shortlisted choices

Discuss the parameters and the

reasons for the choices

Check if any points have been missed

during your analysis through your staff

Final Step

Still Confused ?Visit us

FREE Consultation Provided

Source of Article: http://www.smemaxx.com/single-post/2016/09/18/How-to-select-the-best-Accounting-Software-for-business-

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