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  • Writer's pictureMatt Bontrager

The Right Software + the Right Bookkeeper: How to Propel Your Business with Tech

In today’s digital age, the importance of having the right software for your bookkeeping business can’t be understated.

However, with the plethora of options and sub-options out there, choosing that perfect fit can be a daunting challenge. What if it doesn’t have the features you want or need? What if it costs too much? Or it doesn’t integrate well with the way you perform your work?

These are common questions when it comes to searching and finding the right software for your business, and this blog will guide you through the essential considerations and steps to make sure you select that perfect fit.

Understanding Your Needs

Before you start delving into the maze of different software options, you need to understand the specific requirements of your business.

A small business owner has a different set of priorities than someone running a service with multiple clients, so it’s essential you take into account the size and score of your business operation when determining the features you may need.

So what exactly should you look for once those needs have been determined?

Feature #1: Usability

Consider how many users will need access to your software. Some solutions will allow you to add multiple users or work with a team. Be aware that the price point for those solutions may change depending on the size of your team or users (typically the more users, the more it costs)

Additionally, consider if you want a cloud-based solution that can be accessed anywhere or a desktop version that can only be installed on specific types of computers (Windows, Mac, Linux, etc)

Feature #2: Core Accounting Features

For any software that you choose, it goes without saying that it should be able to handle the essential daily tasks for managing financial transactions.

Accounting tasks like invoicing, expense tracking, and financial reporting should be a part of the included software features.

Feature #3: Integration with Other Tools

Your bookkeeping software should easily integrate with other tools in your business, like payment processors, time-tracking software, or inventory management systems. These are essential elements that can help to save you time, and money, and help to reduce errors.

Feature #4: Scalability

As your business grows, your bookkeeping needs start to change as well.

Ensure that you’re choosing software that can grow with your business needs and that allows for an easy upgrade to a more robust plan or the ability to add additional features.

Feature #5: Security

In a time where companies and institutions are becoming commonplace victims of hackers and data breaches, it’s crucial that your bookkeeping software complies with industry standards for data protection and security.

You’re going to want to ensure that whatever system you operate in has backup options to ensure your data can be restored in case of an emergency.

Feature #6: Customer Support

The last thing you want to happen during critical business hours is when your software stops working.

Being able to contact support and getting a response in an efficient manner is key to making sure your business downtime is only a few minutes versus a few hours or a few days.

It’s important that regardless of which software you decide to go with, you don’t skimp on these 6 essential features.

Researching and comparing the different options available can help narrow your choices down. Some of the more popular and common bookkeeping software out there include:

  • Quickbooks

  • Xero

  • Freshbooks

  • Zoho Books

If you aren’t sure how the software will work with your business, take advantage of any free trials to test the product. You can have a week, 2 weeks, or sometimes a month to try it out so use that opportunity to see how integrations work and what your day-to-day will look like using it.

You’ll also want to evaluate the pricing structures of the software you’re considering. Some programs might have a low monthly subscription, but charge extra for add-on features and additional users.

Others might offer a package that includes everything but at a higher cost.

Sometimes, a free trial offer might have an introductory price for new users for a set amount of time. For example, new users to Quickbooks users can get 50% off for 3 months if they sign up for the popular Plus version.

Additionally, you can also consult with other bookkeeping professionals and CPAs and learn what software they use, which they like, and which ones they stay away from.

Once you’ve made a decision, ensure that your team has adequate training on using the new software, integrations, and other features so there aren’t any hiccups when using it.

Choosing the right software for your bookkeeping business is a critical decision that can impact efficiency, accuracy, and growth. By understanding your needs, doing the research, comparing options, testing, and consulting with others, you can pinpoint the choice that will serve your business.

Remember – your choice doesn’t need to be set in stone.

As the market continues to evolve and your business grows, be ready to reassess and focus on what your business needs and make those changes. With the right software, you can streamline your bookkeeping process and do what you do best.

If you’re looking for more insight into your bookkeeping business, I can help you! I’d encourage you to consider joining a community where you can have a mentorship to boost your bookkeeping skills and help your business thrive.

Grow your business.


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