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Choosing the right accounting software for your company is important to your productivity, accuracy and overall bottom line. The right software will keep all of your business and financial data accessible and organized. New software is constantly being developed and marketed to large corporations and small businesses. It can be hard to understand software before you get a chance to use it. Evaluate accounting software by determining what kind of features you need for your own accounting, getting reliable demonstrations on how the software works and asking other users how well the program performs.
Steps
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1Identify your accounting requirements. Make a list of all the accounting functions your business conducts.
- Consider your global needs as well as domestic requirements. If your company does business all over the world, you will need a program that includes various currencies and can support international financial transactions.
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2Look at the features provided by the accounting software you are considering. They should cover all of your basic needs and provide options that might help your accounting and financial functions run smoothly.
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3Determine whether the accounting software is compatible with your operating system, network and other computer programs and applications.
- Have your information technology department work with the accounting team to establish whether the accounting software can be integrated into the current system.
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4Find out if the software is user friendly. In most businesses, everyone from the Chief Financial Officer to the Accounts Payable Clerk uses the accounting software in place. You want it to be easy to understand and use for everyone.
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5Assess the amount of support you will get from the vendor. You want to make sure you buy accounting software that will be updated and upgraded when necessary.
- Understand the process of getting help when you have problems with the software. There should be a support line available to you, with a live person ready to help troubleshoot whatever problems you might encounter.
- Look for online and desktop support as well. A good accounting software program will have screen tips, a help index, tutorials and online demonstrations. Look for printed and digital user manuals that are clear and easy to access and understand.
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6Evaluate the software program's security. Your financial data is sensitive, so you want to make sure security and confidentiality is guaranteed. This can be complicated when most accounting software is web-based.
- Expect advanced security features, such as login authentication and data encryption.
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7Request a demonstration. Vendors are often willing to come to your office and provide a demonstration on how the software works.
- Have several different people on your team try it out. Compare it to how your current software works as well as other programs you are considering.
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8Ask for a free trial. Some companies will allow you to try their software free of charge for a few weeks or months. The only way to really know if the software will meet your needs is to use it on a daily basis for a while.
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9Read reviews and talk to other customers. This will help you establish whether the accounting software delivers on its promises and determine whether there are challenges to anticipate.
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10Think about your budget. Compare the prices of each accounting software program you are considering and measure what you get for your money.
