Choosing the Right Accounting Package for Your Company (Part 5 of 6)

accounting software In previous articles of our blog series on Choosing the Right Accounting Package for Your Company we covered: Part 1 Questions to ask before choosing the package Part 2 Why use an accounting package Part 3 How much are you willing to pay for an accounting package and what type Part 4 What features does your business require in an accounting package Today we will consider the question:

How data is stored

You will need to investigate how the accounting package handles sales and purchase transactions: a) What level of detail can you input on a particular customer/supplier, and how flexible is the accounting packages drill down ability b) Can you categorise different items according to cost centre or department c) Can you define how your accounts are allocated or are you limited to just the interface that the software package allows d) Can you structure the coding or order of how your assets, liabilities, income and expenditure appear e) In essence, the more flexible the accounting software is, the more you will be able to tailor it to your business

What questions do you have?

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