It feels like there’s a new contender every day — a new software package, a new way of doing things. So how can you decide which is the best system for you and your small business accounts?
I could wax lyrical for hours about features or functionality but actually it usually boils down to one thing…
The best accounting system is one that you’re actually going to use.
I’ve seen people using old-school cash books and paper-and-pen based systems who have an excellent grasp of their finances because they’re meticulous about recording their data. On the flipside I’ve seen people invest heavily in the latest cloud-based offering and then flounder because no one in the business really knows how to use it or bothers to update it regularly.
So the first thing to consider when you’re considering a new accounting system is: am I actually going to use it, and use it properly?
Other factors you should consider when choosing an accounting system
Beyond that, you might find it helpful to consider things like:
· Is there help available for your particular system if you encounter a problem?
· What support does the software provider offer?
· Do you have friends who use the system and could they offer any advice?
What accounting system does your accountant or bookkeeper recommend?
It’s also worth checking in with your bookkeeper or accountant if you have one. Many accounting professionals will have their own preferred systems which can be beneficial in a couple of ways.
Firstly, if they’re anything like me, they’ll have plenty of experience with multiple systems. Personally, I went through a period where I changed my own system every two to three months, which gave me an excellent overview of the various cloud offerings, their functionality, and what it’s like to use them on a day-to-day basis.
Because I’ve done the research I know which systems are likely to suit individual businesses and can offer a better service.
And secondly, a bookkeeper or accountant might have a commercial license for your preferred system and will be able to get it for you cheaper.
Futureproof your bookkeeping
Another thing to think about is where you want to go with your business. While you might not need a system with all of the bells and whistles right now, your business goals might mean that you’ll need additional features, integration, or functionality before long.
Conversely, you might find that your 5-year plans are completely compatible with a simpler accounting system. Either way, by thinking ahead you can choose something that’ll align with your future plans, saving you the hassle of chopping and changing as your business evolves.
Take advantage of a free trial
Once you’ve found something that sounds like it’ll fit your needs, take advantage of any free trial offers so you can get a good feel for how it’s all going to work for you. And once you find something that does work for you and your needs, stick with it! Get it set up, learn how to use it and how to make the most of its features, and then commit.
Because a system that you’re actually happy to use, really is the best system.
Still not sure? Ask for advice
If you’re still not sure what you should be looking for in an accounting system, ask a professional for advice. Many of us offer free consultations, giving you the perfect opportunity to find out about the various systems that will suit your unique needs. It also means that when you’re ready for more professional help with your finances, you’ll be in a great position with the right systems already in place. If you’d like a schedule a free consultation, I’d be more than happy to help.
