When you add up all the time you spend sorting through paperwork, compiling data into spreadsheets, and importing inventory receipts, the idea of bringing on additional tools may seem overwhelming. Fortunately, the right accounting software will save you time, money and resources while better enabling you to grow your business.
But how do you choose among the many accounting platforms available and determine which is right for you?
Read on to learn how to decide what type of accounting and invoicing software is the most compatible with your business.
Doing Your Research
As you research accounting software options, you’ll want to look at a few big-picture functions before diving into the smaller details and features. Your primary goal should be to see if the software supports your type and size of business, the number of employees you have, and the size of your client-base and/or inventory.
After your initial evaluation, here’s what else you should consider:
How Do I Balance Functionality vs. Cost?
First, you should consider whether you’d be paying for more software features and elements than you’ll actually use. If a program designed for a larger business has lots of detailed features you don’t need, move on to a more streamlined program that meets your needs without going over budget.
Next, you’ll want to look at the specific features and tools offered. If your invoicing and financial software needs are more complex, pay attention to how the program will be able to organize your books, payments and contract data.
Be sure to take advantage of any free trials or limited feature options so you can evaluate a solution by actually using it. Once you’ve tested out a certain platform and see how it works, you can choose whether you’d like to add on additional features or upgrade to a plan within your budget’s price point.
If you have an established business and understand your accounting needs, there’s no reason to pay for features you will simply never need.
Is It Compatible With Your Existing Software?
Another deciding factor is the ability to sync to existing resources or databases. Many businesses and accountants rely on QuickBooks and don’t necessarily want to start from scratch with a whole new platform. InvoiceASAP’s accounting software syncs directly with QuickBooks, to reinforce and streamline what’s already working for your business.
Another consideration is mobile payment apps. For instance, if you’re offering remote payments from the Clover app, you might want compatible accounting software that keeps track of all those transactions in one place.
Does It Offer Enough Flexibility?
There is a wide range of features and tools at your disposal when using accounting software, and you’ll want to evaluate the type of reports, analysis, and data management system you need.
While a small plumbing or landscaping business that works directly with homeowners may focus more on invoicing software and customer management reports, a large beer and wine company focused on selling products may be more interested in software that can create inventory reports and smart budgeting guides.
Overall, you’ll want to choose a program with the ability to meet the specific needs of your business today while giving you some flexibility to adapt to meaningful future changes. If you’re not completely sure which types of accounting software features would be best, don’t hesitate to reach out to a company’s customer service team or sign-up for a free trial.
Can You Use It On-the-Go?
Given the ubiquity of mobile apps and wireless internet, you’ll want to choose accounting software that travels with you in the field. This can be especially useful if you have multiple techs or other professionals updating invoices and payments offsite. You’ll want a program that can collect this information remotely and automatically update the information across your entire system.
Having immediate digital invoicing when working with a client will also help you get paid faster and can offer a wider selection of payment options for your customers. When your software is able to track this information, you easily get an overall look at your contracts, invoices and payments in real-time.
Powerful Accounting and Invoicing Software from InvoiceASAP
The amount of money you’re looking to spend on accounting software is obviously a very important factor when making your decision. You shouldn’t commit to an additional monthly-cost without first considering your budget.
InvoiceASAP offers a FREE basic account to help you see if this platform works for your business. And, when you agree to accept electronic payments, you get automatically upgraded to a Premium account for free, Overall, we also offer some of the lowest monthly rates compared to our competitors. Learn more about InvoiceASAP today