How To: Select Accounting Software for Your Small Business

how-to-select-small-business-accounting-software
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Invoice Generation and Tracking an Important Feature

Being a business owner doesn’t mean you’re a pro at every aspect of the business. Accounting, for example, takes a specific skillset to really master it effectively.

Good news, business owners: You don’t have to be an expert accountant to do your bookkeeping efficiently and correctly. All you need is good accounting software to help you.

Since selecting accounting software is half the battle, Direct Capital is will help guide you towards the best one for your business.

What to Look for in Your Accounting Software

  1. Invoice generation: You want your invoices to be as professional as possible, right? There are accounting platforms out there that generate them for you, building trust and credibility with your customers. Plus, when you have the generation capability, you’ll also get tracking. This way, you’ll know which invoices have been paid and which ones are outstanding.
  2. Easy Integration: If you are using project or time management software already, you want accounting software that can easily integrate right into it. This way, you can have one central spot to run your business.
  3. Accessibility on the go: There will be times when you want to access your data from someplace other than your work desk. Make sure the software you choose is accessible from a mobile device or tablet, as well as a desktop, so you can grab it from home or anywhere else on the go.
  4. Online Payment Capabilities: Keep your cash flow intact and get paid quickly! Finding a software program that allows your customers to pay you online will speed up the end-to-end sales process.
  5. Reporting: What makes all of your accounting data worthwhile is a good tracking tool. You should always know where you stand and how your business is performing. You should look to install a piece of accounting software that allows you to access, input, and analyze data right from one place!

What’s Next?

Now that you have a good idea about what to look for, you need to go ahead and buy that software. Since programs that have all of the above capabilities don’t run cheap, you may be wondering how you’ll pay for something that expensive up front. More good news for you, business owners: You don’t have to.

Direct Capital does more than provide business tips and advice; we’re also a nationally-known company that provides payment solutions for our customers. When you need inventory or equipment for your business, Direct Capital will be there to finance it for you. We want to help your business grow and succeed any way we can, starting with giving you the funds you need to access revenue-producing business assets.

To learn more about what Direct Capital can do for your business, or to get started today, give us a call at 866-777-0117. We can’t wait to work with you!

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1 Comment

  1. Great article! I think those are all really great and important things to look for when deciding what accounting software to get. Sometimes I feel as though we just choose the most popular software out there instead of looking at all our options or understanding what we should really be looking for in the software.

    A few other things that I believe are good to keep into consideration when choosing what accounting software is the best fit would be the:
    1. Necessary functions (as you have mentioned above)
    2. Cost
    3. Local internet speed (or as you stated it in #3 and #4)
    4. PC capabilities
    5. File size
    6. Security concerns
    7. Number of shared users
    8. Need for simultaneous access

    Although that’s a longer list, I believe it’s still good to keep at least a few of those in mind when choosing an accounting software.

    Do you have any specific software to recommend to your readers?

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