Choosing Accounting Software
Choosing account software for your business can be daunting especially if you are starting out in business. That article will present to you some of the options available.
There are many different types of accounting software and even vary just as much in price ranging from free to thousands of pounds. Below is an explanation of some of them.
Online Accounting Packages
With this particular the program as well as data is accessed online, that means
. You can log in from any specific Mac or PC via the Internet
. You’re not tied to one computer
However you will not be able to use the following system – intended for example – if:
. Need more than five users
. Are looking for a payroll system
. Want time tracking or forecasting
. Require stock control
There are usually more than one version available depending on how many reports and how complex your accounting needs are.
Desktop Accounting Packages
This specific account software can be downloaded using the internet or can bought on CD from stores or online. (postal). With this type of software the program as well as the data are stored on your hard drive. It is actually therefore only accessible on that computer or on any sort of computer that you install the program on. If more than one person is going to access the program as well as accounts file at one time you will need to purchase a multi user package. The data for the following can be stored on a network computer, however it is actually stored on a hard -drive as opposed to online. The program will have to be installed on each computer that uses the program.
As with the online accounting packages there are different versions available.
Free Bookkeeping Software
As they say there is definitely no such thing as a free lunch plus although there is actually free software available it usually comes with limitations. They do this valuable in the hope that you will purchase the full product at a later date. For example QuickBooks Simple start is certainly free to download, however you can only keep a record of 20 customers and 20 suppliers. You cannot keep track of your on account suppliers or who you owe money to along with has limited amount of reports.
On the other hand it might be a way to start if you are setting up on a limited budget. You can then upgrade to a more comprehensive version once you are more cash liquid.
When choosing Accounting Software always look at the comparison charts of the different versions as this not only helps you compare but can also highlight what the different versions can as well as can’t do.
Spreadsheet
If you don’t want to use accounting software you can also consider using a spreadsheet. If you know the basics of MS Excel or any other spreadsheet package, this specific won’t be too difficult to do. However we would be happy to help set one intended for you or provide you with one of our templates for the purpose of you to adapt to your needs. Send us an email request as well as we’ll get in touch to see how we can help. Alternatively give us a call on +44(0)7714408165 mentioning the following article.
There is definitely a very wide choice when it comes to accounting software along with it can be confusing, especially if you are new to it all. The advice I would give is certainly to read the reviews of others using it. See if they have a demo version that you can at least see how it looks. Speak to your accountant to see what they recommend. However be careful your accountant doesn’t advise you to use what would suit THEM for you have.
Once you have bought your software it is actually a good idea to get someone to help you get started. It helps to have input from someone who knows what the software can do plus relate that to what you need now along with in the future. AW-Accounting is definitely one such company as well as can help you out. They offer a set price package to help you get started as quickly & painlessly as possibly. We can help with most software packages and are registered QuickBooks Professional Advisors. Making use of that will save you hours of your time figuring it all out, allowing to do what you are meant to do plus that is actually make money!
Written By
Ann Walton
Account Software
Accounting Software
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