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Accounting Software Selection and Evaluation

accounting software evaluations imageAccounting Software Applications for companies large or small can cost a few hundred to many thousands of $$$.

It is essential that when finding and choosing your software you make the right decisions. Failure to do so can obviously have a significant effect on your business.

 

Evaluating Software Applications for Accounting

The free software evaluation spreadsheet can be used to help you find the right financial management software or to help you choose accounting software.

Some of the features that you may need to consider are the General Ledger Features, Budgeting Features such as tools to help you develop your budget, hypothetical, "what if" scenarios, History and Comparisons, Audit trail and Reports.

For your fixed assets you will have to consider how you enter your transactions, Depreciation and, once again, reporting functions. For accounting of costs you should look at the formats used for coding, transaction processing and reports.

Calculator for accountingIn addition to the above you will certainly have to consider the accounts payable and accounts receivable issues. I am not an accountant so it would be silly of me to try to suggest any further what is right for your organisation.

Suffice to say that Accounting software is one of the most difficult applications to evaluate, unlike more straightforward applications such as database software and CRM software.

Do your homework first. Ensure that you have read up on the packages that are available for the level that you require. By this I mean if you are a small or medium enterprise don't waste time looking at software that is intended for major enterprises, e.g. SAP.

Check out the features you require and add them to the free evaluation spreadsheet if they are not already included. Involve other people in your organisation and get consensus on the features that you require. Finally, best of luck!

 

Go to the Spreadsheet for Evaluating Accounting Software

Find Accounting Software Search on Google

Find Financial Software on Google

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