You should keep the following in mind to ensure you choose the accountancy system that's most appropriate for your business.
Size, cost and complexity: You must keep in mind the size of your organisation, and the resulting scale of operations. For a medium-sized company, purchasing a small business accounting software package will amount to too little, too late. However, a larger system may be unmanageable and inefficient for a small business. Some types of software are intended for personal or home use and are not suited to the needs of even a very small business. A larger, more complex system is better suited to an organisation that has in-house support and the resources to afford customisation.
Future growth: It is important to take your growth plans into account when purchasing an accounting application. Your business is likely to be looking towards expansion and your systems should be ready to sustain that growth when it comes. Therefore, it is best to look for products that are scalable or upgradeable.
Skills, resources and training: Make sure you think about the skills available within your organisation. Will your current employees be able to manage the system? Just how much training will you need to provide to your employees? You also need to take into account the costs of training and how long it will take to migrate from the previous system. And make sure you consider and compare the cost of recruiting new employees to manage and maintain the accounting system.
Accountant familiarity: Don't forget to check whether your accountant has a good working knowledge of the accountancy system that you're thinking of buying. This is particularly important if you don't have an in-house accountant.
