Things to Consider while Choosing the Right Accounting Software for Your Business

When it comes to accounting, you’ll be hard pressed to find a person who enjoys bookkeeping. Sure, there are those who do, but they are as rare as unicorns.

Often small business owners run into problems when it comes to accounting. Either they don’t automate, or they don’t take the time to choose the right automated bookkeeping software for their needs.

If you aren’t automating your accounting you need to, the benefits are numerous, and your company will benefit from a streamlined accounting process. However, you need to choose the right option for your business. Keep reading to discover how to choose the right accounting and inventory software for your business.

Software Cost

One of the big things to look into is the cost of the software. The cost of automated accounting software can vary greatly depending upon the features offered. Some will be more expensive than others, but the cost doesn’t necessarily relate to quality.

Don’t just opt for the more expensive option because of expensive means better. Instead, look at the budget you have available for the cost of the software. Can you afford $10 a month or $60? Being able to afford $60 doesn’t mean you shouldn’t choose the $10-month option and pile on added features.

Choose the Features You Need

This is another way of saying to identify your business accounting needs and what you want the software to do for you. Remember the software is a computer program that will only do what it is told to do. If you don’t know what you need it to do, the software won’t be of much use.

Some companies will offer consultations to help determine the needs of your business and what features you’ll benefit from most. Botkeeper is an automated bookkeeping software provider who is known for the tag line “better than humans, better than machines, automated bookkeeping with a human touch.”

If you aren’t sure of what you need from the automated bookkeeping software than having a provider that will offer a human consultation is the best way to go. They’ll help you develop a plan for handling your accounting needs with ease.

Tax Preparation

One of the biggest things to pay attention is to when choosing automated bookkeeping software is tax preparation. Finding accounting software that assists with taxes as well as bookkeeping is essential.

The best ways automated bookkeeping software can assist with your taxes is with features like automatic tax calculations, multiple tax rates, and tax reporting. The automated accounting software you choose should also be able to provide your tax accountant with relevant data within your system.

This can be invaluable come tax season and making sure you don’t suffer any unexpected penalties or large fines.

Third-Party Integration

Whether you already use some accounting software or not you should find automated bookkeeping software that integrates well with other applications and programs. Botkeeper is a great example of third-party integration.

They offer integration with a variety of popularly used apps and programs like PayPal, Quickbooks (click here to get Quickbooks enterprise Canada exclusively), HubSpot, Stripe, and Bill.com.

This will allow you to keep using the programs you already know in other areas of your business while still benefitting from streamlining your accounting process with automated bookkeeping software.

This can help to streamline all your processes by integrating all apps and programs to talk to and work with each other. The ultimate goal, of course, is to streamline and automate as much as the business as possible. This would free you up to focus on the growth and expansion of your company. Instead of pouring over boring financial reports and accounting ledgers.

The Right Automated Bookkeeping Software for Your Business

Choosing the right automated bookkeeping software for your business comes down to your budget and the features your business needs. Be sure, however, to also choose automated bookkeeping software that will assist with tax preparation. You’ll thank yourself and so will your tax preparer come tax season.

Finding providers that also integrate with already popular and existing software is also something you should keep an eye out for. By easily and seamlessly integrating all your apps and programs with each other, you’ll be able to automate a vast majority of your businesses processes.

This will free you up to focus on business growth and expansion. Automate your bookkeeping needs today and focus less on accounting and more and business growth and expansion.