An entrepreneur who decides to fully or partially manage the accounting of his company needs to be equipped with efficient accounting software. A substantial range of applications is offered by several publishers and it is not easy to make the right choice. Entrepreneurs’ Corner gives you several tips for choosing your accounting software correctly.
How to choose your accounting software
If you have no idea which accounting software to choose, here are simple steps to help you:
1. List the features you need,
2. Select the software that meets your criteria,
3. Test and choose the software that suits you best.
When you are accompanied by an accountant, do not hesitate to ask him for advice in choosing your software.
List the features of the accounting software
Before embarking on your search for accounting software, we recommend that you make a list of the features you need to manage your business’s accounting.
As a guide, here is a list of the most common features:
● Depending on the size of your business, do you need a TPE, SME, or large business solution?
● Do you need software specific to your industry?
● How much budget do you have for your accounting software?
● What is your operating system (Windows or Mac in particular)?
● What type of software are you looking for (single-user, multi-user, online…), and for how many users?
● Do you need to create several users with different rights?
● What modules do you need (accounting, management of quotes, management of purchase orders, invoicing, dashboard, management of fixed assets, edition of accounts, establishment, and sending of the tax return, VAT declaration, etc.)?
● Do you have to link your software to a sales management application to pass data through it?
● Do you have a chartered accountant? Should he have access to your accounts and be able to import / export data in a specific format?
● Are you going to automatically integrate your bank details?
● Are you going to automatically integrate payroll data?
● Do you need assistance? training for using the tool?
Select the software that meets your criteria
Once the list of essential functions is established, it is advisable to select multiple software and to retain those which meet your criteria. Without selective sorting, the choice is more complicated given a large number of applications on the market.
You will obtain all the information necessary to carry out your checks by going to the publisher’s website and by consulting the product sheets.
Test the selected software and choose the one that suits you
Once you have selected one or more accounting software that meets your criteria and falls within your budget, it is worth testing them.
Normally, the software publisher offers you a trial version before asking you to purchase or subscribe to the application. We advise you to keep in your selection only software that offers you a trial period without obligation.
Some tips for choosing your accounting software
If you are followed by a chartered accountant, we recommend that you seek their advice on the choice of your accounting software. Sometimes your accountant works with an editor or has an app in-house that you can access.
It is very important to test the software before committing, some are more functional and easier to use than others.
Then, you should preferably opt for a solution offered by a recognized publisher, this normally offers you certain guarantees in terms of updating, compliance with regulations, and assistance in the event of a problem.
Make sure that the software chosen allows you to edit the mandatory accounting books and generate the computer file of accounting entries, which can be requested by the tax administration.