Finding The Right Accounting Software

What questions should you be asking yourself to find the right version of accounting software for your small business?

Choosing the right software and the right version can be a daunting task.  Make yourself a quick checklist by answering the following questions, and this can help you make the right decision for you and your business.

1.  Are you GST registered?

If your annual turnover is going to exceed $75,000 you must register for and charge GST for your services.

2.  Will you be employing staff?

Not all software packages are created to allow for the managing and paying of staff.

Ensure that if you will be employing staff, that your software can allow for this or at the very least will offer an add-on compatible software that will work with your    chosen software.

3.  Will you be keeping and tracking stock?

If you are just selling services, then you will not need to keep inventory and will not need to track stock.  If you are selling items, it may be worth taking some time to work out how you are planning to keep track of the incoming and outgoing of all stock.

4.  Will you be using purchase or sale orders?

If you will be purchasing a lot of products and need to track orders, then this will be a feature you need confirm your software can cope with.

5.  Will your business be importing and/or exporting?

Again, you need to make sure your software can handle this.  There are various import and export duties as well as foreign currencies that you may have to deal    with.  Ensure your software is up to the task.

It is imperative that you choose the right software right from the start.  Using the right software for your business needs, not only helps you monitor your business actions quickly and efficiently, it also gives your bookkeeper and accountant the information they need.  In turn this will save you valuable time and money.

If you need any help, please remember that About Bookkeeping can make an appointment to come and see you to discuss your needs and help put in in the right direction for your accounting software requirements.