|The best accounting software packages on the market today are extremely powerful, versatile, and affordable, and make them a wise investment for any small business. The question is what is the best accounting software package for your particular business needs?|
How to Choose the Best Small Business Accounting Software for Your Business
The three main questions to ask when you begin to compare accounting software for your business needs are:
1). Is it easy for you to use?
2). Is the accounting software program one your accountant can work with?
3). Do you have any specific business needs that require specialized software or software add on options?
The easiest way to answer these questions is to download a free trial of the accounting software package you are considering. Most manufacturers offer free trials of fully functioning accounting software for 30 days so you can decide which accounting software package is best for your small business needs.
Ask your accountant about special features your business may need, and test-drive the accounting software package during the free trial period before committing to the full purchase price.
Accounting Software Reviews
When considering the best accounting software for your business needs, the best accounting software packages each offer powerful reporting features and options to analyze your business. Though the details may differ, the standard and customizable reports offered in each of the best small business accounting software packages provide businesses with powerful reporting and analysis tools and are therefore a wash when considering the best accounting software.
Additionally, each of the best accounting software packages below are highly customizable to your business needs, each offering excellent set-up procedures for your specific business and industry.
The main difference is in the features listed below, and which ones are the most important for your business.
If you have substantial amounts of inventory, consider Peachtree or AccountEdge (MYOB) accounting software, which received the highest inventory management marks in our accounting software reviews.
Overall, Peachtree has the most complete inventory management and tracking tools, and is a standout feature in the below accounting software reviews.
Fixed Asset Management
Peachtree offers the most complete fixed asset management module. If you have many fixed assets to manage, consider Peachtree Premium ($499) that can track 200 assets with various depreciation methods.
If you have few to no fixed assets to manage in your business, then this module is not necessary and is in fact not offered in some the best accounting software packages listed below.
AccountEdge (MYOB Business Essentials) does not offer a fixed asset module.
QuickBooks offers limited fixed asset tracking, from which you can record when the asset was purchased, and other asset details. This information can be forwarded to your accountant to create depreciation schedules, but is not part of the standard QuickBooks accounting software packages for business (only QuickBooks Premier Accountant offers detailed depreciation schedules, which is used by accountants).
Accounting Software Reviews: The Best Small Business Accounting Software
|Best Accounting Software||Strengths||Weaknesses||Price||Overall Rating|
|Peachtree Complete Accounting Software||
|QuickBooks Pro Accounting Software||
(Formerly MYOB Business Essentials)
When you know the needs of your business, you can make the most of small business accounting software reviews by identifying the most important accounting software features for your specific business needs, while not paying a premium for features you may not use or rarely need.
You can also spend wisely on those features that will save you the most time and money, such as payroll tax filing options and other cost-effective features offered in today’s best small business accounting software.