There are many software packages for Small businesses and they all serve their purpose. In order to decide which one is the best small business accounting software for you, we will need to draw a clear profile of your needs. You will need to clearly answer the following questions and more:
– How many employees does your company have?
– What does your company do? Are you manufacturing something, are you into research or buying and selling different products?
– Where is your company located? (This is because tax laws differ from state to state and country to country)
– How much are you willing to invest in accounting software?
– Do you have an existing accounting system and, if so, do you wish to integrate it in a new one? Most companies already have a working system. It’s just that, with growth, it slowly becomes obsolete and it needs an upgrade.
– Does your accounting solution need to be scalable? A scalable system can be deployed according to resources. Let’s say, you start small and have three computers. Later, as your orders start flowing in, your accounting system will need to accommodate an increased workload. A traditional system comes with a maximum number of users, managed items and so forth. A scalable system will allow you to seamlessly add one more computer to your existing network and spread out the workload better.
– Do you need your accounting management to be configurable? The more flexible, the better. Laws change, and new products arrive and become obsolete all the time. Operating systems get upgraded every so often.
– What is learning curve for your system? Remember that accountants are good with numbers and not necessarily with computers. Especially the older CPA’s that are set in their ways.
– How reliable do you want your system to be? Does it perform automatic back-ups and easy restores?
– Is your computer network homogenous or are you working across different platforms? Ideally, your accounting software should be cross-platform, so that you are not locked into the world of one computer manufacturer and one operating system.
– Do you want your software to use open source technologies? They come at a lower price, usually.
– Is there technical assistance readily available? If your system gives an unexpected error at 2 AM on Saturday morning, will there be somebody available to answer your phone call, or will you have to keep trucks waiting in line at your warehouse?
– What is the operating system of your choice in your company? Although Windows 7, Vista and XP are predominant on the market, there is also Mac OS and Linux.
MYOB Small Business Accounting Software
Many accounting solutions are readily available for download and you can experiment with them for a trial period. A name that appeared on the American market in the late 1980s is MYOB (Mind Your Own Business).
The initial software served the accounting needs of a small business. Since then, MYOB expanded greatly into the POS software arena, asset management, payroll, and later to e-commerce. Products run on both Mac and Windows and range in complexity from entry-level accounting to multiuser distributed environments. Nowadays, MYOB is a multinational corporation. In the US accounting market it offers the FirstEdge and the AccountEdge packages.
QuickBooks Small Business Accounting Software
You can also consider the simpler QuickBooks from Intuit among the best small business accounting software. Another good one is Sage Peachtree.
According to complexity, prices for accounting packages range from hundreds to thousands of dollars it just all depends on what you are looking for with small business accounting software.