One of the many early problems that new businesses often run into is choosing a system of software for operation. What makes this hard is that there are currently a lot of service providers in the market, each with inviting offers and benefits. In this entry, we’ll write down a checklist of things that we think business owners should keep in mind when it comes to selecting accounting software.
1. The software is easy to use (for you)
Most people often look for something with the most features out-of-the-box as possible. We know features are great, but it’s not always the first priority. What you should consider more, is that if the features are easy to use and would be something you enjoy using.
Well, the main purpose of your selection to work with accounting software is to make your financial reporting less of a mess, right? If you can use the software with ease, you’ll get benefits out of it.
Look for videos that show how the software works, ask yourself a few questions, other than the obvious “Does it have the functions I need?”:
- Does its UI appeal to me?
- Am I comfortable the workflow of the software?
You need to know how it works, how you can manage your data. You need to see through the working environment of the software.
2. It includes multi-currency transaction support
With the Internet, we are able to work and run businesses with overseas partners and customers without any hassles. But that also means sometimes we have to handle more than one currency at a time. Most modern accounting software should be capable of handling multi-currency transactions.
3. Is it cloud-based or not?
This is entirely based upon your preference, so we’ll just leave a few quick comparisons.
Whether your software is cloud-based or regular has a deciding factor as to how your data can be accessed.
The first point is that if you can access an accounting application from several devices, it is great. That brings to you a chance to work in a different location. For example, when you are not at your office, you also can go to check your data with your cell-phone.
To sum up,
A cloud-based software should you more mobility and accessibility. Being an online software, you can access your database more easily. This should be convenient for you if you want to have access to your database on-the-go or your sometimes need that access in case of emergencies. If you can access your accounting application from several devices, you have a chance to keep check of your data. For example, when you are not at your office, you also can go to check your data with your cell-phone.
License-based software limits accessibility. Only machines with copies of the software can access your database. This helps you manage and protect your data better because you have control over who can access your database. In terms of security, this is a better option since you’d only be assigning your crucial data to the people you trust.
5. It has good security measures
To make sure your private data cannot be known by other people, you need to check out the security.
The web-based accounting software brings to us the convenience but it also has the bad side. When you use the Internet into your accounting job, you may run the risk of leaking information. For example, hackers can hack the website and take out a lot of useful data.