What To Consider When Choosing An Accounting Software

Choosing accounting software today is a decision that you have to be very clear about when defining your business idea for your company. You must bear in mind that this tool will play an important role in the development of your SME. Therefore, we are going to show you some tips that you have to take into account when looking for accounting software.

Key Factors For Choosing An Accounting Software

Multi-Company Compatibility

We start by listing some of the first characteristics that you have to take into account when choosing accounting software, you must make sure that it is multi-company and multi-user, when we refer to multi-user we mean that the software allows different people to use it. You may think that this is not your case, but if you have more than one company or are in control of more than one, this feature is crucial. There is no use having limited software that you cannot use in other projects. As we have commented previously, being able to define various user profiles with different access permissions and different hierarchy ranges, must allow having administrators and users, each with their permissions and access credentials.

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Easy To Use

It’s easy handling and intuition is another important factor when it comes to opting for software, with this feature we are looking for anyone with minimal notions on the subject to know how to use the program without hardly having to be trained. With this, we want to avoid the complex learning curves that demand valuable time that our business does not have. The facility to enter accounting entries, the introduction of repetitive entries, easy and simple access to accounting accounts, search options, printing reports, etc. are as we said at the beginning influencing factors.

Create Accounting Reports

Having software that periodically takes out balance sheets, profit and loss accounts, or any other information that may be of use to third parties. Another point to take into account is to be able to present VAT settlements, IRPF models, annual accounts, income and expense books, Commercial Registry, and be able to export them in different formats.

Generate Audit Logs

Being able to perform audits on any entity is a point to consider since it will facilitate the work. Having the information on who has accessed the ledger, when and who has been able to delete data, consult information, and have edited it, is a point to take into account to control the movements of the users of the program.

Modular Configuration Flexibility

Configure the functions you need within the interface to gain efficiency and performance. It must be easy to configure and adapt to the needs of the different companies that are part of the economic sector. It will be useless to have software with options that you will never use.

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Scalability Options

Not having to learn to use a new tool in the future is a factor that we must bear in mind. We must choose a tool that is capable of adapting to the possible growth of your company. Therefore, software for a certain size of a company is most likely to become obsolete as soon as it begins to grow.

Task Automation

Automating work is a fundamental aspect of software of these characteristics. For example, the automation of invoice creation, payroll payment, customer, or supplier payment. Accounting software has to be able to take data and execute it on its own, of course, it is always under your supervision since human errors exist, and being able to detect them quickly is a task that is highly demanded by accounting programs. Our software has to detect by itself where there is a failure, since leaving everything in the hands of the user can be counterproductive. It must be ensured that its characteristics include detecting and alerting the user when there is an error.

Secure Data Storage

Here we enter a somewhat delicate issue such as data storage. We cannot just settle for the program to save the data locally. We must bear in mind that the software is capable of saving backup copies in the cloud, avoiding loss of information if the computer suffers damage or a virus enters it.

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