SMALL BUSINESS ACCOUNTING SOFTWARE

One of the most important decisions a small business needs to make is your choice of accounting software. One of the biggest mistakes small business owners make is that they purchase accounting software beyond their business needs and level of accounting skill. This can lead to considerable frustration and records that amount to nothing more than a 'computerised shoebox'.

With so many software options available it is easy to become confused, and they range in functionality and sophistication with a price tag to match. To assist you we provide the following guidelines:

• If you don't understand double entry accounting (i.e. debits, credits and journal entries) then avoid sophisticated accounting software programs. If you need to use such a program then consider a training course at a local TAFE that runs for around 14-20 hours at a cost of around $350.
• Don't buy software beyond your business needs. If you don't need inventory or a fully integrated general ledger system don't buy a 'Mercedes' when you only need a 'Holden'.
• Your software should be compatible with our general ledger system to allow easy transfer of electronic data. This can save time, money and assist with meeting the various lodgement deadlines.

Like to know how Cash Flow manager can help streamline your business then call Majestic Bookkeeping Accountants today and we will be happy to answer any questions you have.