My experience as an entrepreneur, without adequate accounting knowledge has brought experiences to me to manage accounts with excel spreadsheets . It is no fun to do book keeping manually, with the torment to update spreadsheet after spreadsheet. Trust me, the source is not reliable as one simple mistake can cause hours to rectify and not to mention to face penalty charges for late filing etc.. I did struggle for a couple of years before deciding to “Move My Cheese” and that was when I started to explore options on computerized accounting software. From that day on, I never looked back, and I have more time now to grow my businesses as book keeping just takes care of itself naturally.
With the extensive range of products in the market, you have to do careful research and evaluation to find a suitable, user friendly and low cost maintenance system. Personally, I recommend three brands namely, Autocount, MoneyWorks and MYOB , which are operating well and steady in my organizations. I said “organizations” as I work with a couple of different types of businesses.
So, in this article, let me share some tips on choosing the right software and how to make comparisons wisely.
An off-the-shelf computerized accounting system typically provides a full set of accounting modules, from Account Receivables (AR), Account Payables (AP), Cash Book, Financial Reports (Profit and Loss, Balance Sheet, Trial Balance, General Ledger) and GST reports.
For many of us, who are running an SME business with inventory stock control, it is recommended to choose a system that can automate your daily business processes. From generating a sales quotation, to tracking customer sales orders, to issuance of delivery orders and sales invoices- all the tasks should be managed from one central system.
As an amateur, it is wise to engage a professional in the field to help setup & implement your accounting software, even though many software packages claim to be user-friendly and easy to setup. It is better to leave this part to an experienced company. And be sure to ask for the training program and curriculum. Try not to cramp your schedule in continuous full days as the chances of forgetting is relatively high unless your brain is wired with a recorder to absorb everything at one go, so be sure to ask for after sales support, where you can seek support when you get stuck. Not forgetting to check the credentials of the company you are going to deal with. Ask for case studies related to your business industry and ask the experts to share tips and experiences that can streamline your business processes further.
Licensing Models
There are a few types of licenses for your business needs. Some vendors offer “Software-As-A-Service”, or “Install on Premise” Software-As-A-Service, also known as “SAAS” is a subscribed model, which the users will be required to pay a yearly subscription. “Install on Premise” is a perpetual license which provides an installer CD for the user.
For the types of user licenses, there are “concurrent” and “named” users. The word “concurrent” refers to users whom are logged in simultaneously to update information on the same database. Therefore, each user login is deemed as one license. Another type called “named users” refers to the “usernames” created in a database and usually is not transferrable.
Modules
Get to understand the types of modules available and find out the scalability and the cost for future upgrades. Most off-the-shelf products provide the standard accounting modules where you can make comparisons by running the reports and find out how “customizable” the report engine can produce. As “Data is King”, it is important to produce reports that can help your business analysis to make sound advices on business costings. All business processes are designed differently in every piece of software. Do ask for a system demo and request the salesperson to bring along a business flowchart for the software they represent. Try & simulate your business processes to work with the system and then see how extensive the system can perform to incorporate your business processes.
Training
There are mainly 2 types of training offered; either classroom or onsite training. Classroom training is more conducive and the course syllabus is designed in a uniform and orderly manner. Try not to cramp the training dates too close to each other. Give yourself some time to absorb and hands-on with the system after the training. For those who prefer onsite training, do make a list of the training scope you wish to achieve and hand it to the trainer one or two weeks in advance before he/she starts the first lesson. A well planned training curriculum can refrain learners from coming up with impromptu questions during the lesson and thus achieve a productive session for the training.
After-sales support
Do ask for after sales support and find out who is the actual company providing the support. Is it the software developer or the company providing the deployment on the system? Well, it is really up to your individual comfort level to choose between the two. But personally I will go with the company who provided the initial setup and training as they are the people who know your business processes best. Thus, you save your efforts to explain to a 3rd party over the phone. A more effective way to carry out the troubleshooting is best to adopt using remote software where the support engineer can understand your problem and solve it effectively.
Too much information? Maybe it looks like that, but the topics covered are all important in making the right decision. You need to make the choice to get the best software for your business. But only with expert advice you will make the right choice. Call us ………Write to us for a free demo and consultation.
Article contributed to SME Software Solutions.
With the extensive range of products in the market, you have to do careful research and evaluation to find a suitable, user friendly and low cost maintenance system. Personally, I recommend three brands namely, Autocount, MoneyWorks and MYOB , which are operating well and steady in my organizations. I said “organizations” as I work with a couple of different types of businesses.
So, in this article, let me share some tips on choosing the right software and how to make comparisons wisely.
An off-the-shelf computerized accounting system typically provides a full set of accounting modules, from Account Receivables (AR), Account Payables (AP), Cash Book, Financial Reports (Profit and Loss, Balance Sheet, Trial Balance, General Ledger) and GST reports.
For many of us, who are running an SME business with inventory stock control, it is recommended to choose a system that can automate your daily business processes. From generating a sales quotation, to tracking customer sales orders, to issuance of delivery orders and sales invoices- all the tasks should be managed from one central system.
As an amateur, it is wise to engage a professional in the field to help setup & implement your accounting software, even though many software packages claim to be user-friendly and easy to setup. It is better to leave this part to an experienced company. And be sure to ask for the training program and curriculum. Try not to cramp your schedule in continuous full days as the chances of forgetting is relatively high unless your brain is wired with a recorder to absorb everything at one go, so be sure to ask for after sales support, where you can seek support when you get stuck. Not forgetting to check the credentials of the company you are going to deal with. Ask for case studies related to your business industry and ask the experts to share tips and experiences that can streamline your business processes further.
Licensing Models
There are a few types of licenses for your business needs. Some vendors offer “Software-As-A-Service”, or “Install on Premise” Software-As-A-Service, also known as “SAAS” is a subscribed model, which the users will be required to pay a yearly subscription. “Install on Premise” is a perpetual license which provides an installer CD for the user.
For the types of user licenses, there are “concurrent” and “named” users. The word “concurrent” refers to users whom are logged in simultaneously to update information on the same database. Therefore, each user login is deemed as one license. Another type called “named users” refers to the “usernames” created in a database and usually is not transferrable.
Modules
Get to understand the types of modules available and find out the scalability and the cost for future upgrades. Most off-the-shelf products provide the standard accounting modules where you can make comparisons by running the reports and find out how “customizable” the report engine can produce. As “Data is King”, it is important to produce reports that can help your business analysis to make sound advices on business costings. All business processes are designed differently in every piece of software. Do ask for a system demo and request the salesperson to bring along a business flowchart for the software they represent. Try & simulate your business processes to work with the system and then see how extensive the system can perform to incorporate your business processes.
Training
There are mainly 2 types of training offered; either classroom or onsite training. Classroom training is more conducive and the course syllabus is designed in a uniform and orderly manner. Try not to cramp the training dates too close to each other. Give yourself some time to absorb and hands-on with the system after the training. For those who prefer onsite training, do make a list of the training scope you wish to achieve and hand it to the trainer one or two weeks in advance before he/she starts the first lesson. A well planned training curriculum can refrain learners from coming up with impromptu questions during the lesson and thus achieve a productive session for the training.
After-sales support
Do ask for after sales support and find out who is the actual company providing the support. Is it the software developer or the company providing the deployment on the system? Well, it is really up to your individual comfort level to choose between the two. But personally I will go with the company who provided the initial setup and training as they are the people who know your business processes best. Thus, you save your efforts to explain to a 3rd party over the phone. A more effective way to carry out the troubleshooting is best to adopt using remote software where the support engineer can understand your problem and solve it effectively.
Too much information? Maybe it looks like that, but the topics covered are all important in making the right decision. You need to make the choice to get the best software for your business. But only with expert advice you will make the right choice. Call us ………Write to us for a free demo and consultation.
Article contributed to SME Software Solutions.