(Add to Favorites | View All Articles | Resource Directory)
|
|
|
Do You Need Accounting Software for Your Small Business?
If you're anything like me then you dislike with a vengeance doing your accounts and taxes. So how can you make this process easier, less painful and cut your accountancy fees? Well buying an accounting software package is one way. First of all you need to decide whether you are going to keep your accounting records manually, that is using pen and paper, or whether you are going to computerize the process. If you decide that computerizing the process is the way to go then you need to decide whether to buy an accounting software package, for example Sage or Quicken, or whether a spreadsheet, such as Microsoft Excel will suit your needs better. As a general rule if you are a cash business that just needs to record income and expenditure then you are better off using a spreadsheet. So, should you choose an accounting software package? Yes if: 1. You have customers to whom you extend credit and you buy goods in the same way 2. You process in excess of 50 transactions per month 3. Your business is an Incorporated Company (Limited Company in the UK) and: 4. You are computer literate or are willing to learn! Before choosing the accounting software, speak to your accountants - they will be familiar with the various accounting software packages on the market and will be able to advise you. Most accountants use software in their office to process the bookkeeping for their clients and will have a working knowledge of the accounting software package they use. It may be cheaper for you to use the same one they do, because they can advise you how to get it up and running and will be on hand to answer questions, plus at your financial year end when your accounts need preparing it will be less expensive, believe me to have a compatible program. I also recommend doing some research yourself, you may be able to obtain a demonstration disk or download of the most popular accounting software packages and this will give you an idea of how they work and if they are user-friendly. The cost may also be an issue, so you need to decide on your budget. But consider how your business is likely to expand - you may outgrow that budget accounting software quickly and end up buying the more expensive one anyway. Accounting software providers may also try and up-sell you a maintenance contract. Save your money! In my experience the established software providers will not have bugs in their systems. They will also try and upgrade you to the next version on a regular basis, but if the software is doing everything you need then there is no need to upgrade. Of course, you could also pay someone to do your accounts for you, either your accountant or a bookkeeper - the payoff being you don't have to do it yourself and it frees you up to actually run your business! Copyright © Jakki Francis, 2005 This article is copyrighted. Please feel free to use it in it's entirety including copyright information and information about the publisher. Jakki Francis operates the website http://www.accountingsoftware-reviews.com For news, information and resources on all types of accounting software.
MORE RESOURCES: News provided by Yahoo! News and Google News Six small biz tips from a CEO who flies right - BloggingStocks Wage Increase Will Hit Some Small Biz Hard - NBC4i.com Smallbiz Brain Presents America’s Best Companies - PressReleasePoint (press release) US Celcos Urged To Create New Small-Biz Programs - Telecomweb Online, Direct to Grow as 26% of Small Biz Ups Ad Spending - Media Buyer Planner Poll: 25% of small-biz owners worry about survival - Bizjournals.com $1M goes to Mass. small biz supporters - Bizjournals.com Apple Reworks iWork for Small Biz - bMighty.com |
|
|
|
RELATED ARTICLES
Boat Cleaning Business Case Study: Entrepreneurship 101 How do marine type businesses start? Have you ever thought of turning a hobby into a business? Let me tell you a story of how I got into the Boat Detailing Business when I started our in the car cleaning business which grew into a franchise system. So often we read in business books to study markets and develop business plans when in reality it does not exactly work that way. Why is My Restaurant Not Full Every Monday Night? In a quest for customers and to keep those customers, restaurants are now compelled to develop a marketing plan. Marketing plans are a crucial component for anyone who has the desire to make their restaurant a success. Learning and Growing As you reflect on this year and prepare for next year, what are the lessons you have learned in business and how do you plan to use those lessons to grow your business in the year ahead?And remember, in every challenge there is opportunity for growth so even if you had a challenging year it can be a stepping stone to success.I know the hustle and bustle of the holiday season can seem overwhelming when you try to factor in end of year business planning. Eight Key Steps to Selling Your Business and Cashing In This year, some 700,000 American businesses will be sold. Most will be small and mid-sized businesses like yours. How to Manage Your Pipeline How is your pipeline structured?I assume most of you have heard about the sales pipeline. Your pipeline is what keeps your business going. Work fascintes me - I can watch it for hours I love work, I can watch it all day.I am not scared of work, I have been known to approach within arm's length of it on a number of occasions. We Know Who THEY Are Am I the only one that does not have an "A" button on my computer? I have looked on the keyboard, monitor and hard drive I can not find that darn thing anywhere. Nobody will tell me where it is. Private Investigator Tactics A Private Investigator is a professional trained in the art of investigations and surveillance. Otherwise known as Private eyes or, these professionals are for hire 24 hours a day 7 days a week. Business Relationships Defined What makes a business relationship?What really makes a business relationship? This may be very hard to define as it goes beyond just meeting the person and chatting about something you have in common. A relationship is developed over a period of time and usually does not happen instantly. Home Based Franchise; What About Future Expansion? As a franchisor I am always asked by new and existing franchisees about future expansion. I find this to be a most wonderful question because I admire the strength of today's entrepreneur. 11 Things Small Business Owners Can Learn From The Miracle On Ice 1. Know Where You're Going - Coach Herb Brooks had a strategic plan for assembling the American team. How to Use Graphs and Charts in Your Business Plan Many people ask how many graphs or charts they should have in their business plans. As with most other business planning questions, the answer is "it depends. Self Serve Car Washes in the United States In the 2003 Auto Laundry News Survey it was determined that only 10% of the Coin-op Car Washes had a web site. So if you are doing lots of individual research on car washes that are self serve, do not expect to find a lot of data on the Internet. Consistency Builds Trust You know your prospects need what you sell. You know they want what you sell. S Corporation - What Is It? For many small businesses, the "S" corporation is the business entity of choice. The "S" in S corporation refers to a tax designation. Motorcycle Detailing Procedures Manual Sample Outline If you are a motorcycle detailer and need to expand your business you will need to have several crews working for you. Each team will need a team leader and/or manager. Professional Car Care Businesses You Can Start If you are in the professional car care business you may be looking to expand your business, for that no one can blame you. But which add on service makes the most sense? You will have to make an honest assessment of your current clientele and decide that for your self. Deciding what kind of franchise to buy You'd like to go into business for yourself, and believe that the best way for you to become your own boss is to buy a franchise. You know it will takes time and money to be successful, and that's OK. 10 Ways to Start a Business on a Budget If you've been thinking about starting a business, but are held back due to cash-flow issues, there are plenty of ways you can get your plans off the ground. Though your vision may be to own a big store, restaurant, warehouse, or office, consider starting on a smaller scale. Get Out Of The Rut And Back On the Track Do you sometimes find yourself just going "through the motions" of your business from day to day? Has the excitement gone out of your daily routine?What happened? Remember way back when you began doing this? You were excited and enthusiastic about what you were going to do. What went wrong? Where did the excitement and enthusiasm go? More importantly, how do you get it back?Of course, this may be a signal that it is time for you to make some changes or to "move on.
|
| home | site map | articles |
| © 2006 |