So you have come to the decision to join the future of accounting, and ditch the traditional methods. Let me be the first to congratulate you on this important step in your business. However, finding the perfect platform isn't quite as easy as it sounds. On the surface, it may seem that all companies offer the same product, but they actually all have different features tailored for different purposes. You need cloud accounting that suites your business needs, so these are the 3 most critical factors that your business must consider before you pick the best software.
One of the most important aspects to look at while picking your cloud accounting platform is just how easy is it to use. If you pick up software that is essentially just as complex as doing an excel spreadsheet, then what was the point of switching? Whether you are a simple SME, or a large corporation, you need to find a cloud accounting software that is streamlined to make the transition as smooth as possible. You also need dashboards that you can create for data analysis, catered for your business. Are you able to access the account on any device, such as a smart phone? It would be awful being in a meeting and having to excuse yourself to go back to your desktop computer, and gather some invoices, when you could have just pulled them on your phone.
While yes, any cloud accounting software will be cheaper than hiring an actual accountant, that doesn't mean they are all excellent deals. What you should be looking at is what they offer for what you pay. How many invoices are you allowed to have? How many plans does the company offer you? This is important, as you can upgrade as soon as your business grows. Is the payment plan monthly, or is it paid in one big annual payment? Does it offer customer support, or do they throw you in the deep end once they have your money? Each company should clearly state how much a business is paying, and what they will receive in return. Remember, it is still possible to overpay on cloud accounting, so choose wisely!
Just what exactly do you need out of your cloud accounting? Are you the sole employee at your business, who is looking just for something simple, or are a multinational company, and need cross-border accounting. Does your company require have your preferred language, or are you going to just be stuck to using another language? Not all cloud accounting is created equal, and many are tailored to fit the different needs for your company. How many users are allowed access to the account and have full control? Businesses should prioritize what they need when searching for the perfect software.
There are multiple other factors that every SME should look at when finding the perfect cloud accounting for your business. However, these are by far the 3 most important factors that should make your decision on the perfect one for your company. So think carefully before you buy, and once again, welcome to the future of accounting, and happy accounting.