Do You Need Accounting Software for Your Small Business?

If you're anything like me then you dislike with a vengeance doing your accounts and taxes.

So how can you make this process easier, less painful and cut your accountancy fees?

Well buying an accounting software package is one way.

First of all you need to decide whether you are going to keep your accounting records manually, that is using pen and paper, or whether you are going to computerize the process.

If you decide that computerizing the process is the way to go then you need to decide whether to buy an accounting software package, for example Sage or Quicken, or whether a spreadsheet, such as Microsoft Excel will suit your needs better.

As a general rule if you are a cash business that just needs to record income and expenditure then you are better off using a spreadsheet.

So, should you choose an accounting software package? Yes if:

1. You have customers to whom you extend credit and you buy goods in the same way

2. You process in excess of 50 transactions per month

3. Your business is an Incorporated Company (Limited Company in the UK)

and:

4. You are computer literate or are willing to learn!

Before choosing the accounting software, speak to your accountants ? they will be familiar with the various accounting software packages on the market and will be able to advise you. Most accountants use software in their office to process the bookkeeping for their clients and will have a working knowledge of the accounting software package they use. It may be cheaper for you to use the same one they do, because they can advise you how to get it up and running and will be on hand to answer questions, plus at your financial year end when your accounts need preparing it will be less expensive, believe me to have a compatible program.

I also recommend doing some research yourself, you may be able to obtain a demonstration disk or download of the most popular accounting software packages and this will give you an idea of how they work and if they are user-friendly.

The cost may also be an issue, so you need to decide on your budget. But consider how your business is likely to expand - you may outgrow that budget accounting software quickly and end up buying the more expensive one anyway.

Accounting software providers may also try and up-sell you a maintenance contract. Save your money! In my experience the established software providers will not have bugs in their systems. They will also try and upgrade you to the next version on a regular basis, but if the software is doing everything you need then there is no need to upgrade.

Of course, you could also pay someone to do your accounts for you, either your accountant or a bookkeeper ? the payoff being you don't have to do it yourself and it frees you up to actually run your business!

Copyright © Jakki Francis, 2005

This article is copyrighted. Please feel free to use it in it's entirety including copyright information and information about the publisher.

Jakki Francis operates the website http://www.accountingsoftware-reviews.com For news, information and resources on all types of accounting software.

---

Local Search and Internet Yellow Pages - A Whole NewVocabulary for Small Businesss

Buyers want both online and local information about where to... Read More

Earn More Money in Your Small Business by Creating a PIG

If you really want to earn more money with your... Read More

Frodos Journey: What It Can Teach You About Marketing Your Small Business

Just recently, I took a break and caught "The Return... Read More

Business Valuation is Critical

What is Business Valuation? The term business valuation is the... Read More

Street Wars Between Mobile Car Washers and Mobile Auto Detailers

There is much competition in the mobile auto detailing business.... Read More

How To Get Slightly Famous in Print

Early in my career, I wrote an article for a... Read More

Sexual Harassment - Its just not on!

Sexual Harassment is a disturbing part of employment life in... Read More

City Wide Garage Sales: Hidden Riches!

Most of us remember going to at least one garage... Read More

Tell Me The Reasons Why I Should Believe You?

Have you ever heard the phrase, 'PREPONDERANCE OF PROOF'?I recently... Read More

The Joy and Hazards Of Finding Your First Office

Q: I have outgrown my home office and need to... Read More

Genius Time? It Matters

I frequently give presentations at small business gatherings, providing me... Read More

How Most Business Owners Sabotage Their Success

Owning a business is a challenging endeavor. If you're like... Read More

But This Is Just My Opinion

Hi, Charles...here, Your Cap and t-shirt guy From Texas. How... Read More

Financial Dose for Business

The goals of businesses have undergone much evolution from the... Read More

Competition Relations in Auto Detailing

There is significant competition in auto detailing and car washing.... Read More

Does Your Business Need a Toll-Free 800 Number?

Should your business have a toll free number for customers... Read More

Computer Related Habits From Small Business Owner - Be Prepared, Avoid Despair

Aside from the fear of losing a spreadsheet or research... Read More

More Business Card Marketing

If you are worried about how many different business cards... Read More

Cashing In Your Chips & Pastures New

No, I'm not talking about gambling or dairy cows ?... Read More

Postcards Make It Rain Referrals

One of the simplest ways to expand your marketing efforts... Read More

Dont Wait - Sell The Future Now!

Just as you are about to say "good-bye" to your... Read More

Mobile Car Wash Market Opportunities in California

The current lack of industry leaders represents an exceptional opportunity... Read More

The PR Commitment to Small Business

We're birds of a feather, public relations and small business.... Read More

Self Serve Car Washes in the United States

In the 2003 Auto Laundry News Survey it was determined... Read More

Self-Employment: Do you know the Difference between Rates and Wages

The difference between rates and wages is not always clear... Read More

Starting a New Business in a Small Town

Q. I am a former pastor who left the ministry... Read More

Small Business Survival Tips

No matter what kind of small business you have, you... Read More

Getting Grant Funding For Your Nonprofit Organization

Do you need grant funding for your nonprofit organization? If... Read More

Simple Business Tactics Are Your Key To Success

In a world full of complications sometimes we overlook the... Read More

1-2-3 Steps To A Successful Joint Venture

A successful joint venture marketing effort is the goal of... Read More

Big Successes Never Happen Overnight

Treat your business as a serious, full-time business and be... Read More

Secrets of Cleaning Truck Trailers in Your Fleet from a Veteran Truck Washer

Cleaning the trailers towed by big trucks is not easy,... Read More

A Key to Success: Be Consistent

Over the years I heard the best way to learn... Read More