What Accounting Software Is Best For Your Business?

We live in a world of information overload and included in that is the amount of choices we face each day in our lives. As business owners many people can influence us when it comes to choosing what is the best software for our business. Do any of these scenarios sound like you?

“I am just starting my own new business and I don’t know where to start in looking for software for my accounting needs, there are so many products out there”.

“I am very happy with the way I am doing my accounts now. Some people call it shoebox accounting, but it suits me. I collect all my receipts in the month. I download my bank and credit card statements. I send all my information to the accountant at the end of each quarter”.

“I have one employee and am not a producer of goods. My accounts are pretty simple”.

“My business is growing much quicker that I thought it would. My software is not really giving me the information I need”.

ASK YOURSELF

• Are you struggling with your current accounting solution?
• Is it way too time consuming for you to manage your outgoings and incomings?
• How do you keep track of all your company transactions?
• Do you know you know how your business is tracking, what your bottom line is?
• Are you confident that you on top of your actual cash flow?

These are a few of the questions you need to ask yourself when considering what the best accounting solution is for your business.

OPTIONS AVAILABLE

• Manual paper options vs. computer
• Desktop vs. cloud
• Industry specific vs. generic
• Outright purchase vs. monthly subscriptions
• Small business software vs. ERP system to name a few.

WHAT IS BEST FOR ME?

Every business is different and has different needs, just as every accounting software solution offers a whole range of functionality. How do I know what I need? Do I need to pay for a computer software solution or are my manual accounts enough for my business? Our decision needs to be based on a whole list of things, which include but are not limited to:

• Costs
• Functionality and capabilities
• Ease of use
• Current and future needs

I PROVIDE EXPERT ADVICE

Accounting software is big business today with software providers offering bookkeepers and accountants incentives to market their products. Often they are designed to fit the needs of the bookkeeper and the accountant, not necessarily taking into account the needs of the client, or business owner.

Xero and MYOB, provide multiple options for your accounting solutions, however you should not be limited to these choices. There may be industry specific software, like BarBooks, which has just been released, designed specifically for Barristers, which suits your needs.

So whether you are starting your own new business or have an established business, finding the right accounting solution is worth the time and energy involved. Depending on your needs it doesn’t have to be a huge investment, but you want it to be an investment that will save you time, stress and money in the long term.

I provide expert, independent advice to match your business needs with the best available accounting solution options.

If you are in need of a expert, qualified bookkeeper to set up best practices for your business accounting solution and manage your financial recording, reporting and compliance, please contact Lynne on 0402 819 611 or lynne@uneedmeaccounting.com.au