Several small business owners will often decide to do their accounts manually when they first start out. This is entirely understandable when you consider that in those first few months especially, smaller businesses will want to keep a close eye and tight rein on their finances. It’s also seen as a way of not having to hire additionally trained finance staff at his early stage.
Questions to Ask When Looking at Accounting Software
I always suggest that all small businesses should at least look at potential accounting software just to see for themselves how simple, low cost and accessible some of these packages really are.
What Features Do You Need from Your Accounting Software?
Make a list of what you feel are those essential features that would help you run your business. For those smaller of companies, their accounting features tend to highlight the need for Sale Tracking, Payroll, Budgeting, Database Management, Merchant Accounts, Tax Reports and Inventory Management.
What Other Considerations Do You Have?
You may have extra concerns about your accounting software needs, including if there are any additions that you can purchase when your business begins to grow, whether you can get additional bank support and download transactions direct from your bank or whether you can opt for online or desktop software?
What Support Does Your Accounting Software Offer?
Some providers will incorporate software support into their overall costs, laying them out initially for you to budget instantly for. However, there are some who will require additional fees for additional email and phone support.
What Features Do You Not Need?
At this early stage in your small business development, you may not need the many features that some accounting software packages come with. There is no need to purchase more than is necessary here, so look out for those packages which allow you to add such features, as when you need them.