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.

---

Over Disclosure Hurts Businesses

Many investors and business ethics professionals are calling for more... Read More

Does Your Small Business Marketing Suffer From The Bulldog Effect?

If you're an entrepreneur responsible for your own small business... Read More

Passion Is Key To A Successful Business

Passion. Passion alone can make your business successful. As an... Read More

Build Credibility, Value, and Trust on a Shoestring

Setting priorities in your business? Your first job is to... Read More

How to Start Home Based Travel Businesses

Home based travel businesses are no longer the wave of... Read More

Does Your Business Need a Toll-Free 800 Number?

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

Is a Small Business Web Site a Wise Investment?

One of the greatest pitfalls in e-commerce is Field of... Read More

Expanding A Mobile Car Wash Business

What is the best time to expand a mobile car... Read More

Sex Up Your Business Growth

A top executive called up me late in the night.... Read More

Speed Kills on the Web!

I only have to point to the 555 plus failed... 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

There Are No Dumb Business Questions, Not!

Q: I'm curious. What is the dumbest business question you've... Read More

A Business Tail: Veterinarian Foams at Mouth, Chases Tail, Learns New Tricks--Case Study

Many self employed professionals find themselves overwhelmed, frustrated, and confused... Read More

Small Business Planning -- Three Myths

Are you -- like 70 percent of small business owners... Read More

Shortcuts Will Kill Your Business

Think of your business as a living, breathing, organism. It... Read More

What are the COSTS Associated with joining Leads Groups?

When it comes to cost, how much can you afford... Read More

11 MONSTROUS Small Business Marketing Mistakes and How To Avoid Them

Increase your profit potential by identifying ? and avoiding ?... Read More

Buying a Business

Start thinking about buying an established business if you want... Read More

Create a Win Win for Your Small Business

Discover How Specialized Cost Containment Creates A New Win-Win Position... Read More

How to Protect Yourself & Your Business

As a business owner, you already know how important it... Read More

Small Business Publicity -- Worth It?

You bet it's worth it. Publicity via news releases, along... Read More

Build Credibility with Expertise

As an Investment Representative you've worked hard to build trust... Read More

Truck Detailing Shop Business Case Study

As an entrepreneur you can learn a lot by following... Read More

One Of The Best New Business Opportunities May Be Right In Your Home - A New Daycare Business

The day care industry is expanding. There are now more... Read More

Franchises Must Meet Legal Definition to be an Actual Franchise

All franchises must meet the legal definition of a franchise... Read More

How the Humble Ice Cube Made Business History

Gather round while I tell you the story of Kennebec... Read More

How Is the LEGAL SYSTEM Dishing Out JUSTICE in Your Town?

Thankfully, most of us will never find out. That is... Read More

Grab Your Consumers Attention in a Cluttered World of Marketing Communications

A cluttered world of marketing communications diminishes the ordinary. The... Read More

What is Business Process Automation?

Business Process Automation or BPA for short. This was a... Read More

Get Approved for a Franchise

Deciding to start your own franchise is just one of... Read More

Attributes Of Companies You Don?t Want To Buy!

There are no "rules of thumb" in the pursuit of... Read More

Small Businesses with BIG NAMES: Protect Your Trademarks and Reap the Rewards

You're a small business owner with a hot new product... Read More

Look Like Sizzle, Be The Steak

You've heard marketing and advertising gurus quip, "Sell the sizzle,... Read More