Today small businesses accounting software is becoming extremelypopular. As the number of small businesses increase to more than 25% ofall businesses, owners are looking for accounting software. Smallbusinesses have their own specific needs, requirements , taxcalculation structures, and specific operating standards. Choosing theright software is crucial.The 5 most popular small business accounting software are IntuitQuickBooks Accounting Software, Simply Accounting Accounting Software,MYOB Plus Accounting Software, Peachtree Complete Accounting Software,and Microsoft Office Small Business Accounting.Microsoft Office Small Business Accounting is quite popular because thesoftware can be integrated with Microsoft Office. Features include theability to add data from Excel or Outlook and Business Contact Managerthat allows the user to stay up to date with accounts.Intuit QuickBooks is full featured small business accounting softwareproduct. QuickBooks is available in Basic, Online, Pro, and Premiereditions. The Pro Edition includes options to track vehicle mileage andcash flow.Small business accounting software from MYOB, the MYOB Plus AccountingSoftware is another fine choice. A double entry small businessaccounting software system that comes with a user-friendly interfaceand over 100 financial and management reports. Also included is aProfessional Time Billing Module that is ideal for small service sectorbusinesses. A great feature is The Officelink which allows directaccess to MS Word and Excel with just one click.Peachtree Complete Accounting Software is another small businessaccounting software worth looking at. The full version offers over 125reports and features. Popular features are job costing,inventory, time keeping and billing. Peachtree is alsoavailable in First Accounting and Premier editions.Simply Accounting small business accounting software has all thefeatures most small business owners will need. Included in the softwareare e-commerce and internet features. The screen tips and drop and dragfeatures of the software make this program easy to learn. A time andbilling module is included in the professional version.Purchasing the correct small business accounting software is crucial.Things to consider are business compatibility, is the software userfriendly, are the software features easy to use, can multiple users usethe same program, and product support. Small business owners that have standard accounting needs will want tochoose less complex programs. If your business is more unique look forprograms that have optional customizable features. For the smallbusiness owner in the service related sector look for time and billingfeatures.User friendly small business accounting software is an importantfeature. Nothing is more frustrating than buying a software productthat is hard to use and understand. Trial versions of software areavailable for many accounting software programs. Testing a free trialversion before purchasing allows the buyer time to find out how userfriendly the accounting software program will be.Small business accounting software should have an optional multi useroption. Buying multi-user licenses is less expensive than purchasingmultiple copies of the same program. Product support for small business accounting software is an importantfeature. A help button on the software interface is standard. The helpbutton will most generally open the user manual. Look for productsupport that has an actual ticket system or better yet a chat systemwith technical support.
Small Business Accounting Software
Your PC dealer could be your general adviser with regard to the purchase of small business accounting software. But he can't be the expert adviser. Not even your Chartered Accountant can do that. The computer technology is updating itself so fast that before making any worthwhile investment for accounting software you need to take the professional advice.
For, with the introduction of right accounting software, your small business is not going to remain small. It is bound to expand!
Publications like CTS Guide to Small Business Accounting Software have been reportedly used by hundreds of business establishments to select software. It constantly compares and reviews with reference to quality and rates some of the important software packages doing rounds in the market. Some of them are:
Net Ledger Advanced Accounting, Business Works Gold, Quick Books Pro, Microsoft Business Solutions- Small Business Manager, Peachtree Complete Acting plus Time & Billing, MYOB Complete Accounting.
These packages are reviewed for the important aspects of small business accounting needs such as general ledger, accounts receivable and order processing, accounts payable, inventory control, purchase orders, job cost, payroll, and global features module.
The module-by-module report with illustrated screen shots, for each package detailing strengths/weaknesses/operational issues and performance ratings for 350 features given by the report are of immense help to you to take the decision with regard to introducing the software in your establishment.
Study charts on pricing, operating platforms, support policies, make your tasks of comparison very easy. Even calling for quotations, studying and analyzing the information is a time-consuming process. Moreover, your selection can not be an expert's selection. So, the opinion of the impartial competent analyst, who has the necessary expertise, is likely to prove profitable to you in the long run. You can tailor your needs in relation to the budget from the various options available.
Some of the important applications covered by the Magazine are General Ledger, Accounts Payable, Accounts Receivable, Sales Order Entry, Inventory Control, Job Cost, Order Processing, Report Writing, Purchase Order, Fixed Assets and Pay Roll. These will define the software needs for your small business.
But consider one important point. Any given information is what it is. Do not rush to the newly introduced products offering high discounts, unless they are from the well-established companies having proper warranty system. It is better to pay the higher cost and buy the best instead of going for some immediate profits and suffer eventual loss.
Both Richard Shryack & Ashish Jain are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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