Tips in Selecting an Accounting Software for your Business

With a lot of things to take into consideration, looking for the right accounting software program for your business isn’t that simple or easy. You’ll need to consider the software’s features, functionality, ease of use, and especially its costs and extra charges – since you can’t afford to spend a lot on such software when you’re just starting out your entrepreneurial journey in Singapore.

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The good thing is you don’t have to be overly stressed out in looking for the right software. To relieve you of all the stress, we’ve listed a couple of tips that you can use to identify an accounting software that meets your specific needs and is within your budget too.

1. Gather your employees who will be using the program. Instead of doing things by yourself, it would be wise to gather your employees who will be tasked to use the program and share their thoughts about what features the accounting software should have. If you’re running a fairly sizeable company, you can assign a committee to handle this task instead. Either way, the end goal is still the same – have the accounting department or a number of the employees involved in this task to share their inputs as to what basic or complex functions they expect the accounting software to perform.

2. Prepare a detailed analysis of what functions your business needs from the program. Have each manager or employee of your company prepare a detailed flow chart of how their tasks are performed from start until the end, as well as a needs analysis to determine what functions your business is looking for from our target software. You can also consider million accounting software for companies in Singapore as a good choice. These flow charts and analysis should show detailed procedures that each business unit is following on their day-to-day operations.

This will provide you a full-dimensional map as to how information flows in your organization. The more detailed the flow charts are, the better you’ll see how your accounting software will handle and manage these tasks and duties.

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3. Establish or set a budget for the accounting software. Establishing a budget range will help you in cutting down your options for your accounting software, making the selection process easier. Set a budget range on the prices that you’ll consider purchasing, so that the prices for accounting software programs that can automate more tasks – but are quite expensive – are justified. Also if you can, look for vendors in Singapore who are willing to sell accounting software packages at a discounted price.

4. Consult a public accountant or technology consultant in Singapore to help you in choosing a program. A certified public accountant has knowledge of what accounting software programs are used by businesses similar to yours, and might even have first-hand experiences in using such programs. Meanwhile, an I.T. consultant will be able to give you an idea about the technological issues that you might encounter after implementing the new accounting program. Such issues include the software’s compatibility with outside programs, as well as ensuring that the program runs properly.

Soliciting opinions from these people will help you in identifying accounting software programs that meets your accounting needs, allowing you to closely check and look into the particular program.

5. Demo the program that you shortlisted. Before deciding on the accounting software that you’ll purchase, you should consider putting it on demo first to ensure that it really meets the accounting needs of your business. You can use the needs analysis and flow charts provided by your employees to test if the particular software can really perform the tasks you want it to perform. If possible, you can also try requesting a free trial of the program from its vendor, and have your employees run their daily tasks on the trial version to get an even better idea as to how each software performs against its competitors.

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