Ganibade
Verified member
Accounting software selection is critical for small businesses because the wrong one can result in significant financial loss as well as lost productive time and other business opportunities due to time spent learning and implementing the system. Here are some guidelines to consider when comparing various accounting software packages on the market:
*Cost
Most accounting software is available for a one-time fee, while others require yearly or monthly payments. There is free accounting software available, but it typically lacks the support and updates that paid programs provide. Similarly, open source accounting software, like any other open source program, must be customized to meet the specific needs of a business, which entails hiring computer programmers or specialists.
Remember that you should not base your purchase decision solely on price. We all want to get the most bang for our buck, but this does not always imply that the cheapest software is better. It may be worthwhile to pay a premium for accounting software that is better suited to your needs.
* Usability
An easy-to-use system is ideal for small business owners because every minute spent on accounting is time lost from running or growing the business.
Simpler systems will most likely have a lower learning curve, and the faster you learn how to use a software package, the faster you will reap its benefits.
*Cost
Most accounting software is available for a one-time fee, while others require yearly or monthly payments. There is free accounting software available, but it typically lacks the support and updates that paid programs provide. Similarly, open source accounting software, like any other open source program, must be customized to meet the specific needs of a business, which entails hiring computer programmers or specialists.
Remember that you should not base your purchase decision solely on price. We all want to get the most bang for our buck, but this does not always imply that the cheapest software is better. It may be worthwhile to pay a premium for accounting software that is better suited to your needs.
* Usability
An easy-to-use system is ideal for small business owners because every minute spent on accounting is time lost from running or growing the business.
Simpler systems will most likely have a lower learning curve, and the faster you learn how to use a software package, the faster you will reap its benefits.