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.

---

Predicting Business Retirement Satisfaction for Business Owners

Most business owners do not think of selling their companies... Read More

Do You Love Food? - Then Maybe Opening a Restaurant is Not Such a Crazy Idea

The restaurant industry in the United States employs an estimated... Read More

How To Choose A Franchise

You'd like to go into business for yourself, and believe... Read More

5 Tips for Hiring a GREAT Bookkeeper

Bookkeeping?the "dreaded" word is something we all have to worry... Read More

Why Small Businesses Need Both A Logo And An Identity System

Experts urge small business owners to "brand" their business ?... Read More

Janitorial Cleaning Service: Getting Started

A janitorial cleaning service is one of the best businesses... Read More

Lubbock TX Good Market for a Service Business

We very much like what we see in Lubbock, TX... Read More

Pet Grooming Business

Do you like animals? Would you like to work for... Read More

Small Business Essentials: Start Here

Thinking of starting a business on line? If so there... Read More

Making a Donation to Bring MORE Business

How a donation is different from a sponsorship and what... Read More

Effective Customer Interviews Make Life Much Easier!

One of the critical success factors for service-related businesses is... Read More

How to Profit from Business Consulting Opportunities

Business consulting opportunities might be just what your are looking... Read More

Small Business Failure? Nuts!

Pardon my enthusiasm, but a large part of your small... Read More

What are the COSTS Associated with joining Leads Groups?

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

Getting Grant Funding For Your Nonprofit Organization

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

Family Business and Conflicts

What is a Family Business? A family business is basically... Read More

Become The Squeaky Wheel and Watch Your Business Skyrocket!

Providing high quality customer service is a must for any... Read More

Eight Key Steps to Selling Your Business and Cashing In

This year, some 700,000 American businesses will be sold. Most... Read More

Why are Reverse Mergers Often the Victims of Short Sellers?

There is a great deal of abuse going on in... Read More

Creative Marketing Tips: Simple Things You Can Use In Your Business To Attract More Clients

The single most important activity you can do in your... Read More

A Day in the Life of a Self Employed Professional

It's Monday morning and Connie the Consultant sits in her... Read More

The Skills Gap: It Pays to Use Experts

By outsourcing to skilled professionals you'll be able to grow... Read More

Presentations and Sales Automotive Detailers

Many auto detailers fall short in their sales presentations. I... Read More

Effectively Completing the Operations Plan Section of Your Business Plan

The Operations Plan is a critical component of any business... Read More

Business Development Is Not An Event

Cash flow. To stay in business, you've got to keep... Read More

Yeah, It IS Lonely At the Top

Sometimes when you run a business you feel as lonely... Read More

Too Many Lawyers in Franchising Today

Attorneys and Lawyers are ruining the franchise industry. It is... Read More

Where To Get Money For a Franchise Idea

How often have you thumbed through a business opportunity magazine,... Read More

Sexual Harassment - Its just not on!

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

Secrets Revealed To Having The Most Professional Staff On The Telephone!

Do you have all the customers your business can use?The... Read More

Boat Hull Cleaning Procedures for Owners and Detailers

For really tough boat hull cleaning you will need to... Read More

Do Home Businesses Complicate Small Business Debt Collection Laws?

The home-based business market, sometimes called the SOHO (small-office/home-office) market,... Read More

Small Business Success: Thriving During Change (And Landing On Your Feet!)

If I had $1.00 every time I heard someone say... Read More