Starting a business starts with having the right supplies, including software. Know how to select the right accounting software based on your company’s needs. Here are 10 qualities of excellent accounting software.
01. Fast
Great automated software always runs fast. No busy professional has the time to wait 10 minutes for one page to load.
02. Easy to Use
Even worse than slow software is one that is complicated and made for computer tech experts. You need the system controls to be simple and easy to understand.
03. Scalable
Avoid a tool that is not made for now and the future. You wouldn’t use software that was made for accountants in the 1980s. You also want the software to accommodate the company’s growth and remain efficient for decades into the future.
04. Versatile
Your software should provide a wide range of features that fit every accounting task you need. Use this tool to track expenses, record savings, write checks, generate reports and more.
05. Helpful
Make sure that your accounting tool has a help center or customer support number when you have technical problems. Accounting is not a skill that everyone can master overnight, so having access to helpful resources is important.
06. Efficient
Every accountant has a different idea of what efficient means. Some accountants think it’s buying software that provides double-entry bookkeeping. Others think it’s buying software that allows them to generate reports and charts or integrate different software programs. You have to define efficiency based on your business’s needs.
07. Customizable
Choose a program with features that you can customize. A basic example is deleting page tabs so that you only show pages that you want to access. Software that is too standardized is difficult to use for resolving unique problems or situations. This is particularly important for companies that experience growths in sales or customers.
08. Automated
Most accounting nowadays is automated to reduce human errors and increase productivity. No accountant wants to spend hours making calculations when they can click a few buttons and make them in a few seconds. When you have hundreds of accounts and need to create a list, Quickbooks payables and receivables does the manual work for you.
09. Collaborative
Choose software that you can easily share with others. Be able to create separate user accounts and protect the contents with passwords. Look for features that allow you to control who accesses which type of information, etc.
10. Affordable
The least important quality is cost. That’s because the less you pay, the less quality the product has. But that doesn’t mean that you cannot buy affordable software. Most costs are equivalent to one or two weekly paychecks.
In business, half of your work is all about research and planning. When brainstorming, it usually takes a long time until you find the perfect idea. Similarly, you cannot expect the best accounting software program to appear out of nowhere. Make the effort to review the qualities that make an excellent software system.
