Which accounting software fits your organisation best?
There are a lot of options for accounting software out there. But which one is the best fit? As with any organisation decision, you’ll want to make sure to select accounting software that is a good fit for you.
Use these tips to choose the right accounting software for your operation.
Assess your needs
When shopping for software, it’s tempting to focus on each program’s features. While differences in feature sets will help you to differentiate one program from the next, it’s much smarter to first determine what you really need.
What are your core needs?
Start by figuring out what’s important to you. What are your core needs?
Are you GST registered? If you have assets or stock to keep track of that will need to be factored in. Think about the reporting you will require.
By identifying your must-haves before even looking at accounting software, you’ll be able to quickly build a list of viable programs—and you’ll also be able to quickly eliminate programs that don’t measure up.
While most accounting software will organise your financial information, you don’t want to pay for features you don’t need or buy software your team will reject. Remember, the most expensive or popular options aren’t necessarily the best for your organisation.
With your needs in mind, you’ll want to ask about these features before purchasing any accountings software.
If you employ staff, a payroll option is going to be a must.. Even if you outsource payroll, you’ll want accounting software that supports payroll processing so that you can stay in control of the process and share your payroll data with your service provider.
Does it use NZ tax?
The last thing you want is to have to figure out tax on top of managing your accounts. Thus, the software you choose should automatically work under NZ tax regulations. It should also automatically update whenever tax rules or figures change.
Can it be shared with your accountant?
Since you’re going to be handing all of your financial data to your accountant for the end-of-year tasks, your accountant needs to be able to understand the software and how you’re using it.
They’ll also need to be able to work with your data, making it important that your accounting software is compatible with your accountant’s needs.
What’s it like to use?
The best way to experience any software is to get your hands on it, ideally for several weeks. Most software will offer free trials so you can test it out.
While two accounting applications may have similar features, hands-on usage could reveal that one is easier to use than the other—or even easier on the eyes.
As you evaluate each program, consider the following:
We know it can be overwhelming with all the options available, so we can help you work out the best software for your organisation. Call us now to discuss it.
"I have had regular monthly coaching with Michelle for two years, I found Michelle kind and thoughtful, also analytical. It is helpful each session to review the numbers, budgeting and discuss forecasting with the different events that are occurring in the trust regularly. Each meeting our discussions resulted in myself as CEO to understand the numbers more and receive helpful tips towards improving our financial reporting to make them more readable and understandable to the board."
