Changing your accounting software

5 things to consider before you change your accounting software

If your business has evolved and expanded over time, chances are you may have outgrown the accounting software you started out with.

A software upgrade is an important business strategy that can take a lot of time and effort to carry out, and could end up costing more if you get it wrong. It’s important to take the time to understand what you need from your accounting software, so you can choose the solution that best suits your business needs now and also for the future.

Here are five things you should consider in your decision-making process.

  1. What do you need from your software?

The easiest way to determine what functionality your business will require from the software is to make a list. Ask your team what they would like from the software to help them perform their jobs. For example, will you or your team require remote access?

  1. What is wrong with your current software?

As with determining what you need from new accounting software, you should make a list of what your current program is lacking and what frustrates you about it. By establishing the cons of your existing setup, you will have a better understanding of what you need from a software upgrade.

  1. Do you have a budget?

What do you currently spend, and what is your budget for the upgrade? Do some research and seek advice on the average cost of software solutions for small businesses, and compare this to what you are currently being charged. And, although you might have budgetary constraints, don’t let price solely dictate your decision. You don’t want to go through the time and effort of a software upgrade to end up with something that does not match your business’ requirements.

  • How many users will you have?

In most cases, the number of users will affect software costs as many software programs charge per user. Make sure to factor in a scenario where all of your users are logged in at the same time, and assess if this with affect speed or access.

  • Will you need software integration between other programs?

Do you have other programs that your accounting software will need to integrate with? You may like to seek some advice to make sure any other crucial software programs you are running for your small business will be compatible with the new software.

These five points are just some of the things we recommend considering before you change your accounting software. Planning is vital, and we’re here to help. Speak with your Figure 8 Accounts expert today for advice on the accounting software that’s best for your business.

Related posts

Tips for DIY bookkeeping and accounting 1. Get clear bookkeeping guidance throughout the year When you are working with a...
Changing your accounting records in the cloud What you need to know about cloud accounting technology Remember when all transactions...
Why hire a professional bookkeeper? If you already use cloud software solutions like Xero or MYOB, you might think outsourcing...