Advivo explores the top 10 things you need to keep in mind when you are choosing an accounting platform for your business.
Tracking your accounts and expenses is one of the most important aspects of building a successful business. Because of this, it is crucial that you select an accounting platform that you can trust to accurately track your finances, while also keeping your private data secure. Below are 10 things you need to consider when selecting what accounting software is best for your business.
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Is my sensitive data safe?
Understandably, making sure your sensitive financial data is safe is a priority for most business owners. While you’re shopping around, it’s worth investigating the measures each platform takes to ensure your precious data is safe.
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Is it easy to use for accounting beginners?
Not every business owner is a skilled accountant! If this is the case for you, it’s important you select a platform that is user friendly. If you need more hands-on help, Advivo is a Gold Level Brisbane Xero Partner.
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Does it suit the size of my business?
Businesses of different sizes have different requirements for their accounting. Thus, you should select a platform that is designed to cater for the size of your business. Xero is a great platform, that can support sole traders right up to 200 employee businesses.
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Does it include the features I need?
Depending on your business, there may be certain features that you require your accounting software to include – so it’s worth making note of what you need for your accounting and finding a platform that fits.
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Does it include the integrations I need?
Oftentimes it is essential to integrate your other business software (such as your CRM) with your chosen accounting platform. Because of this, it is important that you check that your chosen platform can be integrated with the platforms you already use for your business. Advivo, offers accounting-based software integration services, if you need help with this.
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Does it provide easy access to support?
Being able to quickly and efficiently seek help from platform support is important for when you run into roadblocks. Advivo is MYOB and Gold level Xero Partners, so if one of these platforms is what you select, you can receive local, Brisbane-based support.
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Does it include automation?
Platforms that automate simple or recurring tasks for you can save you a serious amount of time. This can include automatic recurring transfers, auto-charging and payment reminders. If this sounds appealing, it’s worth investigating what tasks each platform can automate.
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Does it provide comprehensive reporting?
Regular and detailed reporting by accounting platforms can help business owners stay on top of their finances. Research into each platform’s reporting capabilities is essential.
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Is it mobile-friendly?
Business owners are spending an ever-increasing amount of time doing work from their mobile devices. If this sounds like you, it’s important to consider whether your chosen platform performs well in mobile form or has an easy to navigate app.
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Is it budget-friendly?
Different businesses have different budgets for what they’re capable of spending on accounting, so it’s important to factor this in when selecting a platform. Make sure to do some research and review whether the monthly or yearly costs of using a platform fit into your budget.
