Choosing accounting software for your business can be a daunting and overwhelming task, and you don't want to under state the opportunity for unexpected growth that forces an upgrade moments after you pick a system. Planning, planning, planning at this stage can help you avoid having to change software too soon.
The first steps needed before deciding on accounting software is what you will need to know about your business. Make sure your team of employees our your outside consultant is "somewhat financially literate." One of the mistakes businesses makes in believing that they don't need to know anything about accounting as the software will just take care of it.
Several ways you can become proficient in understanding what data is needed to make better business decisions and what reports are needed to make decisions. Reading books, taking classes, internet research like this article all help. Garbage in and garbage out won't give you the result you're looking for if you don't understand what real data is needed when you putt it in.
Another consideration is the type of business you operate. And what specialized modules or add-on packages may support your company needs. If you are a manufacturer, you may need to have an understanding of inventory and handling of parts and labor as an example.
Talk to your accountant
If your business has an accountant or uses an outside accounting firm, you would be wise to consult the expert before you take the plunge.
Your IT department is equally important as your accountant. Understanding the hardware that is needed is vital to the application. What servers will you need, will we host the application or use a SaaS (software as a service). Accounting software packages use big databases, consisting of large data tables all working together. As your accounting data grows, the more room it will need.
Good luck with your selection we would be happy to help you navigate these waters to ensure you make a good selection for your organization that doesn't leave you broke.