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The right accounting software for you

Accounting software has gained momentum in recent years. Companies that use these software programs ensure efficiency in managing their accounting functions, but do not complete the costs, unlike the hire of qualified and licensed accountants. Basically, accounting software works like a true accountant who manages receivables, receivables, payroll and trial balance. In addition, the software may include other features that are usually managed by a staff. It also serves as an accounting information system. Accounting software is diverse as its relevance depends on the company's revenue or specialty.

first Software categories

– Low End
Software from this category only performs general business accounting functions. These are cheap application software. Best to start a business.

Software in this category is capable of meeting the needs of multiple national accounting standards and allowing multiple contracts to be accounted for. The arrival of these products is in fact integrated or supplemented management information systems and may target one or more markets.

– High End
Software in this category is one of the most complex and expensive business accounting software. Typically, they are part of an intensive software package, often referred to as Enterprise Resource Planning or ERP software.

– Vertical Market
The software associated with them belongs to the respective business types, because the functions required for the industry have already been integrated

2. Setting Up and Installing

It's very important to have a selection process because you need to find the right product that suits your needs. This can be complicated, but it should be kept in mind that installing a new accounting system is very costly and the wrong selection can end. You are now committed to the biggest flaw in your life, but there's no room for crying out spilled milk. Think in another light; maybe the purpose of this accident is to give you the opportunity to refresh your business process. You may have to redesign the process. But before you go over the whole renovation, you need to follow a few steps.

3rd Steps to follow

– Creating a Technology Advisory Committee (TAC). This committee manages the entire operation – from product selection to implementation. The members of this committee should be from the company's main departments to take into account all aspects of the business. However, members of the group may be limited to seven members. The TAC must be a senior manager in the group to authorize the head of the accounting department and the IT department representative. The leaders participated as much as possible.

– Analysis of needs. First, ask the heads of each division to make an analysis of their department, which includes things that do and classify properly from the most serious tasks. In order to support the list, ask them to draw flowcharts for each task. This allows us to get a complete picture of how things are going on within the organization. This will help you identify whether all of these tasks can be performed by the accounting software of your choice. It is much better to collect the samples of each form and make the previous software. In addition to software, it also includes systems that perform additional tasks. All of these documents and analyzes help you define the requirements – a detailed document that determines what your business needs are from your accounting application. Once you've done these things, you'll now get a complete reference guide to your purchasing decision.

– Consult an independent consultant for advice. This person will guide you through the process. But just make sure that you are not in contact with one of the company's auditors or that all of your lines are on the sales pitch. After receiving the outsider to objectively look at things, you can now ask someone who might be close to the seller and who has used the software several times.

– Talk to your current supplier. Now it is time to consult the software manufacturer of the previous software unless you buy a new product. Introducing the detailed analysis you have just prepared and asking you if there is a need to update the company to meet your needs.

4th Budget Preparation

– When preparing your budget, consider the other costs you need to install the software, such as hardware requirements.
– Be aware that the company can afford to spend and plan the timing.
– Creating a table matrix that lists the most important features of your product. Start by removing the obviously wrong choices.

5th Final Evaluation

– Prepare an official offer (RFP) or less formal request (RFQ) from the seller.
– Ask for a product presentation. Don't let the treated demonstration run. You have to see that the software is live.
– Ask for a reference list to call past and current customers. Be aware of those who cannot respond directly to product issues.
– Examine the prototypes to find out if systems and data are compatible with the software and identify problem areas.
– Visit the seller or agent.
– Review the contract before making the final decision. Ask a counselor to do it. Support the contract or include all negotiated agreements, RFP or RFQ and documented communication.

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