Choosing the Right Accounting Package for Your Company (Part 5 of 6)

accounting software

In previous articles of our blog series on Choosing the Right Accounting Package for Your Company we covered:

Part 1 Questions to ask before choosing the package

Part 2 Why use an accounting package

Part 3 How much are you willing to pay for an accounting package and what type

Part 4 What features does your business require in an accounting package

Today we will consider the question:

How data is stored

You will need to investigate how the accounting package handles sales and purchase transactions:
a) What level of detail can you input on a particular customer/supplier, and how flexible is the accounting packages drill down ability
b) Can you categorise different items according to cost centre or department
c) Can you define how your accounts are allocated or are you limited to Read more

Posted on October 4, 2016 by Cooney Carey

Choosing the Right Accounting Package for Your Company (Part 4 of 6)

accounting software

In previous articles of our blog series on Choosing the Right Accounting Package for Your Company we covered:

Part 1 Questions to ask before choosing the package

Part 2 Why use an accounting package

Part 3 How much are you willing to pay for an accounting package and what type

Today we will consider the question:

What features does your business require in an accounting package

Before focusing in on one specific package, you need to consider what your business objectives are:

1.  Are you aiming to grow your business significantly over the next 5 years, are you limiting yourself now, by choosing an accounting package that may not be able to handle the volume of transactions 5 years down the line.
2. What employees within your firm are going to use the new accounting package. What would they like to see built in to the system that could better streamline their workplace productivity
3. What information to you wish to ascertain from the accounting package that would be deemed crucial to the daily/weekly operation of your business.
4. Does your business have unique requirements that an off the shelf accounting package may not be able to handle. Talk to your potential software providers about tailoring add-on packages unique to your business, that would enhance or automate your company’s sales or stock management etc.

What questions do you have?

We are happy to help. Please post your comment below or contact our friendly and knowledgeable team on 01 677 9000. 

To keep in touch, connect with us on Linkedin.

If this article helped you, please share it with other businesses.
Posted on August 23, 2016 by Cooney Carey

Choosing the Right Accounting Package for Your Company (Part 3 of 6)

accounting software

In previous articles of our blog series on Choosing the Right Accounting Package for Your Company we covered Questions to ask before choosing the package – Part 1 and Why use an accounting package – Part 2. Today we will consider the question:

How much are you willing to pay for an accounting package and what type

Accounting packages suitable to your business needs does not need to be an expensive cost, but you are likely to incur costs when setting up the system and training your employees to use it. Broadly speaking there are 3 main types of accounting software:

  1. Cloud computing software, which is accessed over the internet. With this option all your data is stored by the software provider, so you can sign in and use it from anywhere. Cloud software is usually paid monthly, so the cost to you is spread over a longer period. One caveat to mention is that you should ensure you have sufficient broadband capabilities as your effectively accessing an offsite database which may take longer than if it were in-house on company servers through an intranet system
  2. Desktop accounting software, which is installed on your computer, Generally, you can only use it on that computer and all of your data is stored there. There are however inherent risks with only using a one computer approach, in that if that computer crashes you need to ensure that a backup is available.
  3. Server-based software, that runs in house within your business. This means it can be accessed by several people at once. Server based software is quiet popular amongst medium to large companies, as different access levels and security protocols can be set.

What questions do you have?

We are happy to help. Please post your comment below or contact our friendly and knowledgeable team on 01 677 9000. 

To keep in touch, connect with us on Linkedin.

If this article helped you, please share it with other businesses.
Posted on August 18, 2016 by Cooney Carey

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