Small Business Accounting Software
The Benefits of Computerising your Accounts
Having a computerised accounting system will save you time and, hopefully, also money. Anyway that you can make cost efficient ssvings in your business should be welcomed.
You may not, for example, need to employ the services of a bookkeeper. instead, you will need a member of staff who can use the software program. You will no longer need to keep vast amounts of paper-based records. All of your finances can be organised in the computer's memory. With a few simple actions you should be able to gain information on all your customers' accounts, complete with an analysis of their payment records. In essence, a computer-based accountancy system will give you greater control.
What Choice of Software do I have?
The choice of software that you make will depend on a number of factors including:
- the type of computer hardware that you have
- the size of your business
- whether you have, or envisage having, any employees
- whether you are, or will be at some stage, registered for VAT
The real question you need to ask is exactly what it is that you want from the software. You need to decide what functions are essential, what would be nice to have if possible, and perhaps even what you do not need at all.
There are software packages available from a wide number of software houses. Some of the most common are:
- Sage
- TAS Books
- Pegasus
- Intuit.
The choice that you make must be the one that is the most appropriate for your business. Most of these software providers produce a range of software based on the size of the business that will be utilising it. Sage at present have a number of accounting packages from the most basic, 'Instant Accounting' up to the most comprehensive, 'Sovereign'.
One of the most important considerations to remember when making your choice is that the software must be capable of growing with your business. Most businesses start out small and then grow over a period of time. It would be pointless to purchase a software solution that did not offer the same facility. Once you have made your choice, and entered all of the opening information, you will not want to use that system for a few years only to find that it becomes obsolete and you have to start again. Make sure that the chosen package allows for upgrades or the addition of further features without you having to enter all of your data again.
You may decide that you need to purchase the most complex software solution in order to guard against obsolescence. Nothing wrong with that but, one word of warning, it will also probably be the most difficult to use.
