4 Key Points to Consider When Selecting an Accounting System

June 9, 2022

Do you keep track of your invoices for tax season? Manually tracking everything on a spreadsheet can get annoying and lead to errors. Accounting systems address this problem and simplify your accounting. These systems provide detailed reports with a few clicks and store your invoices. They also come with several other features and can be specialized for your industry. Not worrying about accounting gives you more time to grow your startup.

While an accounting system can help any small business, not all of them are viable for your business. Consider these factors before selecting accounting software for your small business.

Sit Through Multiple Demos

Demos let you see the software in action. You can get a feel for the dashboard, features, and simplicity. Sitting through the demo by yourself isn’t enough. Leadership in key areas of the company should join you on the demos if they are available.

Watching demos for multiple accounting software providers gives you a better perspective on each choice. You can review price, features, and other elements with a simple search, but demos provide an inside look at each resource.

Assess the Company’s Viability

A company owns the accounting software. This company will handle your questions and update the tool to have more capabilities. The company’s viability provides extra certainty or a significant layer of risk. If the software’s underlying business struggles to stay open, it may have insufficient customer support and upgrades. Eventually, the company may pull the plug on the software because they can’t afford to maintain it.

Look for software founded by startups with many years of experience. You don’t want to pick a fantastic software only to search for another one in a year. A sustainable company results in sustainable software.

Hop on the Cloud

Accounting software with a cloud feature makes it easier for multiple people to edit and access data at once. If your company utilizes an accounting team, each member can access data from their computers and smartphones instead of relying on a single device at the office.

Employees can access data in the office or at home, making remote work possible. Remote work helps you attract a wider talent pool and offer more perks to retain existing talent.

Get Your Accountant Involved

Accountants like to see P/L in a specific format. They can review the system to ensure it provides correct formatting and has sufficient features. You can get a few software recommendations from an accountant to minimize your search.

Narrowing your list to an accountant’s favorite software will save time and help you find the right solution for your small business.

aACE Software can jumpstart your accounting and help your business to reduce sales tax audit risk, streamline revenue recognition, create budgets for any office or department, and more. Browse our feature highlights to learn more about what aACE can do for you.

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