How do you do your small business accounting? Do you have a literal set of books that you balance with a calculator? Do you use a simple spreadsheet program? Do you have an abacus?
Whatever your methods, there comes a time when you need to go from spreadsheets to cloud based accounting software. The tough part is figuring out which software is right for your needs. There are a ton of factors that contribute to choosing the right software, from capabilities to compatibility.
The first thing you want to think about as a business owner is what you need your new accounting software to do, ie what are the capabilities of the software. To do this, you need to think about what your business might need from your software. That depends largely on the nature of your business. For example, a growing advertising firm might need to focus on hourly billing while a jewelry business needs to focus on invoices for physical supplies and products.
Like all entrepreneurs, you want your business to grow, and you need your accounting software to grow with you. Plan for growth when you first choose your software package, that way you’re not constantly downloading upgrades or calling their tech support asking how to expand. There are programs that offer easy upgrades, accounting software packages that actively encourage growth, or packages built for larger business from the get-go. Choosing easily expandable software allows you to save money on the front end and stress in the long run.
Whether it’s just some humble spreadsheet or a software bundle meant for personal finance, you already have some type of accounting system. Switching everything over can be incredibly time-consuming and endlessly frustrating. When choosing a real business accounting software program, you need to make sure it will be easily compatible with whatever system you’re using now. Remember that it also needs to be compatible with your general operating system, too.
As with everything in the business world, cost needs to be a consideration. Only you know where your business stands, so you should be able to decide whether you can spring for an expensive expandable software bundle that will save you money in the long run, or cheap software with fewer options that will get you up and running for now. Always remember that accounting software will always save you money because it will make your processes more efficient, so it will return on the investment.
No matter what kind of business you have, it’s always a good idea to keep meticulous accounting records. If you don’t keep good records now, you can’t understand where your money is coming from and where it’s going.
This is vital information that can show you how you can make even more money, and the best way to keep good track of your business finances is to get some professional accounting software. Going from spreadsheets to accounting software can be scary, but it’s well worth it when you see your business grow. If you need help choosing the right software to do your cloud bookkeeping, contact us.