Top Accounting Software

Fast Forward Your Search and Find Top Accounting Software

 

In recent years, there has been a substantial growth in the number of accounting software made available for small and midsized companies by different accounting software manufacturers. These days’ businesses can access the different options in accounting solutions. Payroll and accounting packages for small business, full serviced accounting management programs, cloud-based, web-hosted applications and free accounting programs are some of the widely accepted options.  However, the hardest thing is to select the best amongst them. Businesses are looking for not only cost efficient accounting solution, but they want it to be effective in fulfilling almost all the current and future accounting needs of their organization.

Analyzing Factors That Distinguish Accounting Software from Each Other

One secret you need to understand before opting for any specific accounting software is, “All the accounting software’s in one or the other way perform the same functions. However, the way in which they perform different accounting tasks varies greatly”.

Usually accounting software can be termed as best or worst not by depending on their features, but by depending on what information they deliver and how they deliver it. Additionally, companies that are creating and marketing specific accounting programs, matter a lot when it comes to credibility, performance and reliability of accounting software. To help you choose only the most compatible accounting software, here is a list of some features that will guide you to finalize your decision

1) Scalability as a Product: ‘Businesses will grow in future’. Considering this fact, analyze, whether the accounting software can accommodate the changing and increasing demands of the growing business or not. Usually, you can check out the scalability of an accounting program depending on two main elements. First is to ensure that the software manufacturer has a ready-made list of products, your organization will eventually need during the growth. Secondly, it makes it a lot easier for you to upgrade in logical but cost effective manner. Think of the future first and ask yourself 

• How easily you can convert or transfer existing data to the upgraded version?

• Will the interface of the different software program remains same or will it be changed?

• Is there any price incentive offered by the software manufacturer to an existing customer?

• With the installation of the new program will your old customized reports and features will run as usual or will they be lost?

In addition to that, check out for the addition of product scalability by asking questions like

• Can you add numerous other modules into existing core modules of the software?

• Can you add third party products into the software?

• Can you customize functions, reports, etc., as per your requirements?

2) Installation Speed: How easily you can install the new software is one of the major distinguishing factors between good and bad accounting software. Always remember, the more time required by software for installation, more costly it becomes to maintain. Such software will cause errors, undue interruptions and mistakes in your core business functionality. Make sure, to ask about the time required to install the software and by what factors, you can either increase or decrease the time of installation.

3) Ease of Usability: When you are buying accounting software, you already understand the complexity of maintaining and managing accounts. Remember, you are opting for the best accounting software only because you want an accounting solution that is logical, simple and easy-to-use. To find out how much easier it is to use the software ask these questions

• The primary screens where data has to be entered and managed, how easy it is to use and understand?

• How easy it is in the transition or switching over between different modules of the software?

• Is there any software documentation and training provided by the software manufacturer?

• What is the provision of customer service and technical support?

4) Look under the Tip of Iceberg: Almost all the accounting software’s available in the market have same features. The only difference is, in their packaging and performance. It would be better, if you look for the modules that are not present in the software, rather than looking for the modules present within the software. Remember, software with more features will always cost more. However, it is better to have more modules in less cost, so look for cost efficient and feature rich accounting software like the one provided by One Accounting.

5) Consider Cost of the Software: A well-designed accounting program is expected to offer a few basic requirements as core modules of the software, such as customizable reports, invoicing features, reporting capabilities, etc. Beware of the marketers providing these modules as add-ons for additional costs. Before investing in accounting software, get a fair idea of the basic features and contents of each program. Calculate cost of accounting software based on its core modules and try to understand the cost of each optional function or add on.

More often, the cost of fully-fledged accounting software seems more at the time of initial investment. However, with time, your business flourishes and the same software easily accommodate the complexity of your accounting needs. With a specialized accounting solution for your organization, you get enough time to focus on running your business efficiently and effectively. Thus, a heavy investment in the initial stage can be worth in the future, Think about that too.