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Thinking of purchasing an accounting software system? If so, there are a number of questions for you to consider.
If you are a service business do you need a time reporting and billing system? Retail businesses will want to track inventory; do you also need the inventory system to be updated at the point of sale? Construction and manufacturing companies may need job or project costing systems. Do you expect to have a large number of assets? If so, you may want an accounting system that includes a fixed asset package.
Will you be setting up the system or doing the accounting yourself? Consider what type of product support is available for installation and setup, using the system as well as technical support. Do you need to be able to prepare special reports or will the standard reports that come with the system be sufficient for your needs?
What are the growth expectations for your business? Off-the-shelf packages are easy to set up and use, but may have a limit to the volume of transactions or number of concurrent users.
Overwhelmed by these and the many other questions that you want to ask? Talk to industry trade organizations and find out what packages are commonly used in your industry. There are many products available with a wide array of features and capabilities, and price ranges vary widely too. You can surf the WWW to evaluate your needs and here are some sites to get you started with your evaluation:
Completion and submission of an online form will give you information that may help you narrow the scope of your search for an accounting package. This site is maintained by SBT Accounting Systems.
Accounting systems locator information. This site contains a short informative article on selecting accounting systems and also identifies a number of available packages by price range.
Once you've narrowed down your search, you should also talk with your accountant and get her to help you with the final selection process.
The following list of software products is included just to give you an idea of the types of packages and companies available. The Online Women's Business Center is not recommending or endorsing any of the following products or companies, we are simply interested in helping you get started with your search for tools to help you run and manage your business better.
Peachtree Accounting Software was one of the first comprehensive packages designed for a small business. You may choose from several products, including one with fixed asset system and job costing. This system may be a little more advanced than what is needed for a start-up business. (Windows or DOS).
Quickbooks is easy to use for those who are just starting out with an accounting software package. A business will outgrow this package if it has the need for subsystems such as inventory, fixed assets, etc., but it's a nice starter system. The Quickbooks website also has an FAQ section organized by subject that is helpful. (New versions are Windows based)
Business Works is a comprehensive accounting system designed for the business that has outgrown one of the off the shelf packages. It is sold in modules so that you can implement the systems as your business requires them.
Software Business Technologies has accounting systems designed for small, medium or large companies. SBT also states that its products provide the capability to transact business over the internet.
DacEasy offers both comprehensive mid-range accounting systems and "instant" accounting packages for small businesses. It includes, Point of Sale, Order Entry, and Payroll systems in addition to basic accounting.
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