A Guide in Choosing Accounting Software for Small Businesses

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Published on: July 20, 2013

Whether you’re new in the industry or a well-renowned establishment, keeping all accounts organized and readily available when needed is a challenging task for business owners and managers. When it comes to business accounting tasks, many businesses hand over everything to an accountant. However, if you install accounting software in your system, it would be a big help, especially to small Singapore businesses, in saving a lot of money and time from hiring an accountant. If you’re among those owners with businesses still on the rise, here’s a guide on how to choose the right accounting software for your business.

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1. Evaluate Whether You Need it Or Not

By using Singapore accounting software, one can save a lot of time from manually handling bookkeeping tasks. This is because of the automated features of the software that eliminates redundant data entry, such as encoding the customer’s detail, work order, and then the invoice. If you are the only administrator, with no staffs, low inventory, and just a handful of customers, using an accounting application may not be of a great demand, or you can take advantage of free or low-cost software options available. For owners of small businesses, who carry inventory, with more employees or customers, you can save time and keep accurate records with accounting applications.

2. Decide On the Features Needed

In order to narrow down your list of software options, decide on the features that your accounting software should include. Most small business accounting have comprehensive UBS accounting software from Singapore that has features like inventory management, merchant account support, estimates, payroll, budgeting, business tax reporting, and manage client details. It would also be helpful to choose an application that focuses on the kind of industry your Singapore company is geared to. Some software is designed specifically for manufacturing, construction, and wholesale distribution. Another thing to consider is if the software offer free trial and security features that restrict access to some users.

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3. Support Options

Do not forget to inquire about the support system of your accounting software. Some software provides fee-based support through phone or email by the time you start using the software. However, many accounting software for small businesses provide free support for a specific period of time so you can ask any question regarding the “how-tos” of the software when you first use it. After that time has lapsed, you may need to pay for the support quarterly, annually, or on a per usage basis.

Another thing to know is if the accounting software has a free online forum where you can interact with other users. This is a good option to a fee-based support when your queries are just about how to use a certain feature.

4. Do Not Pay For Unnecessary Features

Smaller businesses need fewer accounting features than large businesses do. No matter how alluring those extra features are, fight the temptation to spend more for something that you don’t need. For small business owners, there are now a lot of options for just enough accounting software with upgradable features that over buying is no longer needed.

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