Aging Tech

The Top Features to look out for in Accountancy Software

Being technologically aware of the ways in which accountancy software can benefit you, or your small business is very important in the modern day. There is a wealth of accountancy software out there, and can be considered essential for any small business.

Before you choose an accountancy software, it is important to establish what you want and need. Certain software will offer different services, such as FreeAgent, which focuses on invoicing, time tracking and expense management; a software that is focussed towards freelancers and smaller businesses. Or if you need software for VAT then choose one like that offers the very latest features. Checking the features of each software, and how they can benefit your business, is vital before making the plunge and parting with your money.

Another thing to consider is how user friendly the software is. If you have a small business, and only employ one or two people, the software that you choose may be different to a business where five or six people need to learn how to use the software. Throughout the year you may expect staff turnover, and therefore retraining would be required on the aforementioned software. However, if you are not expecting staff turnover, you may wish to choose a slightly more advanced accounting software. There may be more advanced accounting software available, however you nor your small business will see the benefits if they are difficult to use.

Customer service is another feature that needs to be considered. A lot of accounting software will offer full support, be that e-mail, phone, or online support. Each vendor is different, however, and some will offer this service for free, and some will offer technical support programmes for a fee. Again, it’s simply a case of working out which is the best for your business, and which will suit your needs adequately.

One of the key features of accounting software in the modern era is the use of The Cloud. These let you monitor your accounts and business services from anywhere, on a variety of devices. The majority, if not all, accounting software vendors will offer this service, and will cover the backups of the accounts remotely as well. However, this brings up another feature which must be considered. Data protection in 2019 is paramount, due to the recent data breach of Facebook in 2018, companies now focus a lot of their attention on GDP. Certain businesses require higher levels of security than others, such as healthcare accounts, where potential security violations could be crippling to your small business. This is something that should also be taken into consideration when purchasing accounting software.

In conclusion, there is a variety of accounting software out there, all with different features and price points. Doing your research is vital, in order to ensure you are getting the best value for money; and also that you are making the most of any accounting software that you decide to purchase.