What should you look for when choosing accounting software?
1. Usability – If your business is just starting out, you tend to wear many hats. Of the tasks you need to do, bookkeeping/recordkeeping is of critical importance, yet often it falls by the wayside. If your software is too complicated, you are not going to use it. An Excel spreadsheet can track the basics (income, expenses) and keep you on track. Dome Bookkeeping has a great paper journal for your recordkeeping. Simple to follow and everything gets recorded – we highly recommend if you don’t want to use software.
2. Compatibility – So you’ve picked a little known software provider or a software designed for home recordkeeping, now what? When it comes to tax time, your tax preparer may not be able to get useful reports from your software, which may cost you more money in the long run if your tax preparer has to put everything together to prepare your return.
3. Price – Software can be expensive. Monthly subscriptions look great to start off, but quickly add up to more than twice the price of the desktop version, and that’s just over the course of the first year of use.
Paragon Small Business Solutions uses and recommends QuickBooks because it meets all of these criteria and so much more. Whatever you choose to use, always spend an hour or two consulting with a bookkeeping professional to ensure your books are done right.