Before Selecting Accounting Software 10 Noticeable Things

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Before Selecting Accounting Software 10
Noticeable Things
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Hope your company has outgrown your accounting
software but you need a more rich accounting
software package. So here are top 10 things which
defiantly robust your Accounting Software.
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1.
Chart of Accounts
Your chart of accounts is the backbone of entire
accounting system. Be sure while you are on topic
start using account numbers, it has been seen
that many companies not using account numbers.
Believe me, it help to keep things organized and
allows for better financial analysis. If you have
account numbers, you can refer them in all
Supporting Documents. Make sure your accounting
software allows you to customize the numbers.
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2.
Classes/ Job Costing
After maintaining the chart you should create
class system so that you can create a financial
statement for each of your services and products.
If you have these arrangement then you got job
arrangement is an easy task and very necessary
when you have a business that offers a few type
of services or products. Depending on your
Business you may or may not need this. If you
are not sure why Job Costing is important, know
about it anyhow.
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3.
Reporting
There is always a need of certain report which
you would like to see on a monthly or quarterly
basis. Make sure your accounting software is able
to easily produce this. Some reports you always
built in excel but your Accounting Software
should handle the majority.
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4.
Industry Specific
You should aware of the specialty software
packages in case if you are not having very
specific software that will make things much
easier. You should ask your Vendor that what
makes their software package the best of your
industry and what type of tools differentiates
them from their commentators.
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5.
Accessibility/Cloud
Most probably there are a lot of people who is
needy for your accounting application, internally
or externally. There are a lot of benefits like
saving of time and less knowledge sharing with
parties if you have been put your Software at
Cloud.
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6.
Updates/Backups
It gives you pain to update your software all the
time for which you should check the update policy
before choosing your software.  You dont want to
lose all your Accounting Records due to
computer crashes so backup are also extremely
important. To protect yourself make sure you have
perfect back procedure, if it does not backup
automatically to the cloud.
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7.
Easy Navigation
You should always take a test drive before
purchasing new software. Any new software always
will have a learning curve so you will need to
see how Easy to Software is to navigate and how
it handles the main function of your business.
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8.
Payroll
If you are using or going to use an outside
vendor for payroll, you need to run Payroll
Through Software. But make sure it is in your
price.
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9.
Software Integration
You should know about software integration
because newer accounting packages will integrate
with your Bank and Credit Cards. Many time it
seen that integration does not work perfectly and
it takes extra time to back and tries to figure
out the issue.
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10.
Invoicing Functionality
If I am not wrong, you need to get paid. So make
sure how you want to customize the invoices
exactly. If you typically Email your Invoice,
this will be a big time saver as well because
many of newer packages allow you to email your
invoices directly from the software.
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