Small Business Accounting Software: How to Pick the Right Program
| 12 | Jul 2010 |
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CREDIT: Dreamstime
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Choosing accounting software for your business is not just about picking the "best" program. It's about choosing a system that works for your business, and that system could be very different if you're running the show by yourself or if you have a full-time accountant and/or a bookkeeper on staff.
Importantly, you need a setup that you can run, rather than a setup that runs you.
"It's very easy to get overwhelmed and spend more time managing the computer than managing the business," says Jeff Duck, Founder of the Wooden Crates Organization.
If your business is very small and you have no employees, and you plan to use an accountant annually to do your taxes, you might get away with a manual record-keeping system — small businesses did that for eons before the advent of the PC. But most businesses stand to benefit from a computerized accounting system , especially if there are employees involved.
"Keeping up with payroll and its taxes can be a bit of a chore," says Amy Dailey, a Certified Bookkeeper and Tax Preparer in Irvine, CA.
A review of accounting software by our sister site, TopTenREVIEWS, considers these factors in determining the best programs:
- Ease of use
- Accounting modules, where you put the numbers
- Reporting categories, for a range of reports
- Help documentation
No. 1 in the review is Peachtree Complete, notable for being well designed with convenient tools that are easy to use. The No. 2 spot is held by MYOB Business Essentials, which stands out for having customizable forms and the ability to import online bank statements easily. QuickBooks Pro, one of the most widely used accounting software packages, comes in at No. 3. All three are under $200 with MYOB being the cheapest.
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