Working with numbers is one of those necessary evils that all of us in business haveto deal with. Recently, I realized that I was at a point where I needed to rethink the way that I was doing my accounting, and I ended up changing the software so that I could keep up with the demands of my growing online business.
You may be in a similar boat. How can you determine whether or not you’re in a position where you should start looking for an upgrade to your accounting software? Here are 4 big reasons that you may be looking at this sort of thing for yourself.
Reason 1: Your current system is pen and paper based
This is, obviously, one of the biggest reasons that you may be looking to upgrade your software – you just don’t have any. Now that we’re in the 21st century, it is actually more difficult for us to use a pen and paper based system (complete with receipts and log books) than it is to just go ahead and put together a system that utilizes spreadsheets to do the same thing.
Reason 2: Your current software is not the same system that your accountant uses
If you have an accounting firm that deals with your system (and if you run a business, you should), then you want to be sure that you are using the same software that they are. Not only does it make it easier for them to deal with your accounting at the end of the fiscal year, but it also makes it easier for you to come to them with questions that you have about the system and your financials.
Reason 3: Your current software is difficult to use
You shouldn’t have to stumble through using software every single time that you log on – that was the problem that I was having before I decided to switch what software I was using for accounting. There are many programs out there, with some of them more streamlined and simpler to use than others. Why give yourself extra stress when there are alternatives?
Reason 4: Your current software is outdated
When was the last time that your current software got an update? If it has been a year or two, the software that you’re using may no longer be supported and, therefore, outdated. If you have outdated software, you can miss out on important changes in tax code, have bugs that aren’t dealt with, and any other number of problems may end up coming along as a result of that.
Look into the software that is out there. Your best bet is to do what I did. I talked to my accountant to see what they recommended so that I could figure out what to get and why it was a good choice. See what your accountant has to say and move forward to get the software that is best for your particular needs.