How to select the best accounting software
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Transcript of How to select the best accounting software
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How to Select the Best Accounting Software
Basic Points to consider before
choosing a Accounting
Software
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• Try and test free solutions if you have just started your business.
• If your business is growing rapidly, its time to select a more efficient and a scalable solution
• Consider your pressing needs for buying / replacing existing accounting software
Size
Stage
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Routine Accounting task
Automated processes
Templates for creation of estimates and proposal
Tax preparation
Multiuser access
Multi device access
Third Party Acesss
Basic Features
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Select C loud Based Accounting Software
If your company is small
Your employees are working at different location
If you are Short On Budget
Select On Premise Accounting Software
If your company is growing
For High Data Security, On premise is preferred
If you are looking for a Long term solution
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Steps for Selecting and Accounting software
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• Choose a Optimum Budget for the
Software
• Incase you are not sure about the
software try free solution Available online
• Based on the requirement, select the
features and match it with the budget
Step 1: Decide a Budget
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Step 2: Ask Questions to Vendors
Which size of business their solution caters to?
Is their solution fit for your industry?
Do they offer customized solutions?
Security measures for securing the data.
Types of customer support and its availability.
Pricing for different packages and discounts.
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Step 3:Shortlist Vendors
• After asking different vendors about their solution, look for the most preferred solution based on features
• Check the pricing and quotation given by the Vendors
• Based on the above two parameters , prepare a list of vendors who are preferable over the others
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Step 4:Competitors and Industry Analysis
Find out what your close competitors are using
Find out what other business in your industry are using
Find out all positives and negatives of the solution they are using
Search internet groups and blogs specific to your industry for different option
AVOID lots of search to avoid confusion
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Speak to your accountant about
the shortlisted choices
Discuss the parameters and the
reasons for the choices
Check if any points have been missed
during your analysis through your staff
Final Step
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Still Confused ?Visit us
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Source of Article: http://www.smemaxx.com/single-post/2016/09/18/How-to-select-the-best-Accounting-Software-for-business-
http://www.smemaxx.com/accounting-software