201512.02
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Small business accounting software

How to choose small business accounting software? 

The technology age has brought to us many things among a few are new cars, new smartphones and a new way to manage your business transaction by introducing small business accounting software.

As a result, we are in a constant change to get more efficient, to small business accounting softwareget better results and to break the locality of our operations.

The introduction of new cloud-based accounting software is the name of the game these days.

The major players in the industry have been putting most of their effort in creating the best small business accounting software cloud-based solutions. Aiming to attract the mainstream of users. that will be done by focusing on security, User interface, User experience and great customer service.

There are so many factors to consider. how will you decide?  well, the answer for that is “it depends on the individual”.

Different people will use their past experience to value different aspect as most important for them. based on those they will decide how to proceed.

I do want to stress out: switching an accounting solution is very hard for the users, so you must get it right the first time.

Deciding criteria #1 – online Security: 

Online security is a big deal when it comes to cloud-based accounting software. the reason for that is that like an online email account it may be vulnerable for a hackers attack. 

The term cloud security best described as the technology that is used to protect data that is stored on remote servers, such as cloud-based accounting software.

 Deciding criteria #2 – Integration with the ATO: 

The more shortcuts you can have regarding the communication with the ATO the better. The accounting platform today relies on the advanced systems used by the ATO to better communicate with the taxpayer, and, as a result, automation of the reports needed by the ATO was created.

I must stress out this is a must, the more automation, the less valuable time wasted on creating and lodging these reports.

Deciding criteria #3 – Customer service: 

I assume here that you are open for all options, therefore, you will need on your side the best customer service.

when we say customer service here, you need that the representatives will master both the software and the tax and bookkeeping knowledge.

Deciding criteria #4 – Simplicity: 

Most business owners do not want to spend time creating reports and recording data, that is a fact.

The reason for that lies within accounting practice, which is to report the past, and who in business has time for the past, most of you don’t have a time for the present.

This is why simplicity is a key success factor in the accounting software industry, and you should put it top on your list as well.  

Deciding criteria #5 – Established software company: 

The accounting and tax law are changing constantly and pose challenges to the software companies.  

As a result, of that, you need that your software package will have the resources needed to update the software at reasonable intervals so your advantages you hold today will remain in the future.

Deciding criteria #6 – Cost: 

Money should be a factor, but make sure you understand the other factors before you get to this criteria.

The reason for that is how you value your time, usually the better the solution the less time it takes you to implement, and that is money in your pocket.  

Main software solutions pricing :

Xero Standard

AUD PER MONTH

ONESaas plans

AUD PER MONTH

MYOB Essentials

AUD PER MONTH

QuickBooks Essentials

AUD PER MONTH

RECKON ONE

AUD PER MONTH