How to Choose the Right Accounting Software for Your Business

Posted by Link4 Team on 04/07/2018

Looking for a New Accounting System? e-invoice can help Whether you already have an Accounting software and are searching for a better provider or if you are looking to transition your business to a Cloud Accounting solution, it’s always a difficult decision to make.

Thanks to Software Connect and their insight into Accounting software buyer trends, we can help! We’re sharing some tips you can keep in mind when you’re looking for your next Accounting solution.

What functions do you need?

Software Connect found that 1/3 of their clients were looking to replace their dated Accounting software, with the driving factor being that they needed more features in their Accounting system.

While times have changed and most Accounting software now contains more than just the basic Accounting functions. It’s important to ask yourself what exactly does your business need and how this translates to the extras you will be looking for.

  • Do you want better analysis and reporting features?
  • Do need to operate your payroll within your Accounting software?
  • Do need to be able to send invoices from your Accounting software?
  • Do you often work from home or out of the office and need to be able to access your software on the go?

After answering these questions with your business needs in mind, you’ll probably have a better idea of the features that are the most important to you and whether you should consider moving to the Cloud.

Cloud vs. Desktop

One of the most important considerations you’re going to make is whether you want to move to a Cloud-based Accounting software. If you are a mobile worker, a desktop Accounting system may no longer be the right fit for you.

Being able to work from home, while travelling and even while you’re out accepting deliveries and making orders is becoming more common. Being able to access invoices, make payments and compile reports while on the move is made easy with Cloud-based software.

As with desktop versions, each Cloud-based Accounting solution has its own specific features. While it’s important to choose a system that gives you the most features you need at the best price, with Cloud-based systems, there are add-ons that can enhance your software even more. But what’s important to remember here, is that additional features will often equal a greater cost. This will mean doing your research to find the right balance and therefore the best solution for your business.

Looking at Add-Ons

It’s important to remember that your Accounting software won’t be able to do everything for you, as every business has different functionality requirements which can’t always be fully met. This is where software add-ons come into play.

While you may have found the Cloud Accounting solution that has the best-inbuilt features based on your businesses needs, there a probably a few more features you would like to be a part of your software. Add-ons provide these capabilities, such as the ability to make payments and exchange invoices, to enhance your experience and improve your business processes even further.

You can normally find compatible add-ons with your Cloud Accounting software under the ‘Marketplace’ on their website. Here you can find categories of add-ons and more information about how they can help you and your business.

The final say

Here at Link4, we want to help businesses perform at their best, especially when it comes to processing invoices and making sure your business gets paid on time. We are able to send invoices from one Cloud Accounting software to the next as well as send the PDF version via email because we understand that some people prefer desktop solutions or other means of Accounting.

We believe what works best for one business may not work for another. This is why it is important to look at your individual business needs and find a solution that can best match these needs. An Accounting system that does just that is critical to ensure your business can perform at its best.

So on that note, we hope you keep these things in mind when you’re looking to upgrade your Accounting software or transition to a Cloud-based Accounting solution. Happy shopping!

Read more about Software Connect’s buyer trends in their 2018 report here.

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