Accounting software for small businesses, and how to choose the right platform
Migrating to a new accounting platform can be a daunting task.
However, in our experience, this hesitation is completely unfounded. In this article, we show you how choosing the right cloud-based accounting software platform can change your life.
Are you interested in implementing a new accounting software platform? TAS Tailored Accounting Solutions is here to help. Our expert accountants can help you streamline your accounting processes—and possibly even change your life.
Why get Accounting Software?
It's more than a nice to have if your small business uses accounting software. It simplifies the entire accounting process for your business. In order to grow your business successfully, you need to choose the right platform.
Why should you get accounting software?
Simply put, it simplifies your accounting. As a result, your accounting practices can be consolidated and simplified across the board.
You can run and manage your business, and your finances, with every good software platform.
However, there are many of them out there. You can choose from a variety of paths that will provide you with improved flexibility, comprehensive analysis, and powerful reporting tools.
Finding the right accounting software platform that fits your business and offers the features you need is the key.
Accounting software questions to ask
Here are some deciding questions you should ask yourself when looking at accounting software for your business if you're not sure what you want.
- What areas of our accounting need to be streamlined? What’s holding us back? Look at activities like reporting, payroll, PAYG withholding, invoicing and billing, and similar. If these activities take up valuable time throughout your day, then it’s highly likely that accounting software can help to simplify your processes.
- How do we perform key accounting activities on a daily basis? It’s important that your new accounting software actually meets your business requirements. Don’t just go with the cheaper option as a way to manage budget. Work out exactly what you need to perform, and then base your decision on this.
- How many employees work for the business? Some platforms are better suited to small businesses, while others provide usability for 100+ employees.
- How big is my business? Is it looking to grow? Ensure you choose a platform that’s built to enable growth, and can scale as your business does.
- How much are we willing to spend to streamline our accounting activities? Similar to understanding the key functionalities of your software, cost is also a big However, when looking at cost, don’t just focus on the face value. Instead, think about how much time and money streamlining your activities can save you in the long run.
Platforms that are most popular in the accounting industry
Accountants have access to a variety of accounting software platforms, each of which performs different tasks.
Accounting platforms are popular for good reason: they're the most reliable, with the most features.
The following are the most popular accounting platforms on the market today. You can implement each of them as an accounting solution for your business with our help.
In the cloud accounting space, Xero is a leading innovator. You can manage your day-to-day accounting with ease thanks to their intuitive and easy-to-use platform. As your business evolves, you can further augment your service with a wide range of useful add-ons. Xero is ideal for businesses with heavy accounting needs.
Intuit QuickBooks started as a desktop software platform, and for a long time has been a big player in the US market. Designed to be as easy to use as possible for small and medium businesses, the platform evolves as you start using it, allowing you to uncover more features as your needs grow.
MYOB has been providing accounting services since 1991, and their experience shows. Their cloud accounting software comes with a range of user packages, and inventory management solutions that suit all different types of businesses.
At TAS Tailored Accounting Solutions, we’re a Xero Gold partner. This means we’ve been specifically chosen by the platform itself to deliver expert advice and support on how to use this software. As such, our platform of choice is Xero, and we can help you get the most out of implementing and using your Xero platform.
There are many factors to consider when selecting accounting software for your business
Getting the right support is crucial when transitioning to new accounting software to ensure that all your data remains accurate.
You should make sure the platform suits your needs.
TAS Tailored Accounting Solutions can help you understand what each platform can offer your business. We can work with you to determine your key accounting activities, now and in the future. Then, we’ll guide you through a range of options that suit your requirements, and your budget. We can even implement the transition to your new accounting software for you.
Thank you for reading!
Should you have any queries in regards to the above please contact our office on (03) 9728 1448
The TAS Team
3/653 Mountain Highway, Bayswater VIC 3153
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