You know you need it for your business, but what is the best way to sort through all the accounting systems out there? These days there are many different ways to purchase accounting systems. Here are the main ways to find and purchase accounting systems today.

Partner

Many accounting software companies sell their products through partners, who are often referred to as VARs or Value Added Resellers. The main benefit of purchasing your software from a VAR is that they are typically located near you and can provide training and implementation help, and can also help support you as time goes on. Sometimes VARs will be listed on a software company’s Web site, or else you can simply call the company and ask if there is a VAR near you.

Retail Stores

Most basic accounting systems can be purchased at retail stores these days, such as office supply stores. You may get a better price on software when purchasing it from a retail store, but you also may miss out on some of the services you could get by purchasing through a VAR or other reseller. And without talking to a company representative, VAR or reseller, it is hard to know whether the system can handle your specific needs. The more complex accounting systems won’t typically be found at retail stores.

Accountant

Your accountant could be a great resource in helping you select the right accounting system for your business. A great advantage to working with your accountant on this is that he or she knows your business and what kinds of special features and needs you have that accounting software could help with. Accountants usually have the experience and knowledge of available systems, and which one would fit best for you. Some accountants are resellers or partners of software companies, and others simply make recommendations.

Online

The term “accounting software” is searched for in Google about 40,000 times per month! People are going to the Web to do their research to find out which accounting systems are out there. However, searching for the term ‘accounting software’ does not give you a neatly organized, comprehensive list of accounting systems. Instead of doing a Google Search, use www.findaccountingsoftware.com or www.capterra.com. Both of these Web sites help you narrow down your search by plugging in your price range and the features you need. You can even talk to representatives of the Web site via phone and have vendors contact you. These Web sites can save you many hours and give you a comprehensive list of companies, so you can find the one that is right for you.

Amazing statistics from the growing online advertising industry. Five companies control 64% of it, and Google itself controls 46%. See the chart by following this link: http://read.bi/ss0lJy

Many businesses start out with basic financial management software, or bookkeeping software consisting of general ledger, accounts payable and accounts receivable. As the business grows, managing inventory becomes essential to the profitability of the business. Three software modules work together to provide excellent inventory management: inventory, order entry, and purchase orders. What are the signs your business is ready to start looking at an inventory management system?

1. You sometimes forget to ship backordered items. Without a system to track items on backorder, it can be easy to forget to ship those backordered items. An order entry system allows you to ship the items that are available, and keep track of those unshipped items, so you won’t forget to ship them once available.
2. You are unsure about when to re-order, and how many of each item to keep in stock. With an inventory system, you can run reports that show demand for each item within the time period you choose, so you’ll know when you are running low, and have a gauge for how many to keep in stock. For example, in the busy sales months you can maintain inventory levels for your customers, but in the slower sales cycle you won’t have a shelf full of obsolete items.
3. You are unsure which items you sell are the most and least profitable. One item seems to be flying off the shelf, while another has minimal sales revenue. Not knowing of which of those two items is more profitable is a huge mistake. If the slow seller is more profitable, a smart idea would be to focus on increasing sales to improve overall profitability.
4. When a customer places an order, you cannot tell whether those items are in stock. If you constantly have to walk back to the warehouse or call somebody to physically check on the stock status of an item, you are doing your customer and yourself a disservice. Checking stock manually wastes your employees’ time. It can also result in broken promises or delayed shipping to your customer. Adding a computerized system for checking inventory can greatly enhance your customer satisfaction, and can improve the efficiency of your business.
5. You have different pricing levels for your products which are currently accessed from a paper file. If you are keeping pricing information on paper, it can be hard to tell which pricing is the most current, and sometimes the correct sheet can even disappear. Having your software keep track of multiple pricing levels is a much more secure and organized way to keep track of pricing. By assigning each customer their respective price level, your orders will automatically show correct pricing when the order is entered into the system.
6. Order entry and order invoicing are currently done in two separate systems. If you have one system to keep track of orders, and another separate system for entering the accounts receivable invoice, you are spending double the time entering the same information. You can save time and reduce manual errors by electronically entering orders and creating invoices.
7. Do you have items that can be sold in different units of measure? For instance, you get a discount for purchasing items by the pallet, but your customer buys them by the carton. Having an inventory management system allows you to receive the items in the unit of measure you choose (in this case, by the pallet) and then sell in another unit of measure (i.e. by the carton). The system will also keep track of the item’s purchase price, and the cost of goods sold, in the unit of measure specified.
8. You track serial or lot numbers on paper or in a spreadsheet. You are tracking serial or lot numbers for a reason, and that reason is to keep track of who got which items, in case of a faulty lot or recall. Having the information on paper can be risky because papers can get lost or damaged. An inventory system allows you to track this information electronically, so you can always run a report to see who got what.
9. Are you wondering why your profitability is down? With inventory management, you can run reports by item, product line, or sales category showing each item’s profitability, so you’ll know along the way the trend for each of the items you sell. That way you can fix the problem early and maintain your profitability.
10. Your inventory is running you! The right inventory accounting software can provide the tools your business needs to increase efficiency, provide excellent customer service, and help you to take control of your financial management.

Looking for the Top Accounting Software Systems? Read this before you start your search.

You’ve probably started your search for top accounting software systems and realized it’s hard to find a comprehensive list of accounting software providers. And once you find them, then what? How do you efficiently sift through them to find the best option for you? First, you must realize one thing: finding software that fits your company’s specific needs is more important than researching every top accounting software system available. Start your search by reading these tips, and you will be on your way to a smarter, more effective search!

• What do the Top Accounting Software Systems include?

  Below are some of the most crucial elements included in top accounting systems. Of course, none of these mean anything unless they can help your business. Use our hype-free, non product specific accounting software checklist to help you put down on paper exactly what you are looking for. Just enter your needs and save or print it. (Don’t worry; it’s not cluttered up with stuff you don’t need. And, you can get it without giving us your e-mail or anything else.) That way you’ll be able to start your search completely prepared to speak with vendors!

  • Double entry accounting
  • Audit trail
  • Customizable reporting
  • Easy data entry
  • Variety of training and installation options
  • Excellent help and support
  • Meaningful enhancements and upgrades
  • A company representative to help you decide if their system is right for you.

• How do I find Top Accounting Software Systems?

  Have you noticed that most of the lists you find of the top accounting systems vary greatly? This is because many of the lists out there are actually lists of software companies who paid for that placement. Therefore, you will notice that no two lists are the same! After all, if they are not paid lists, the lists of top accounting software vendors are in fact only created by somebody’s opinion anyway. That’s why it’s much more useful to write down your needs and conduct a search based on those needs. For instance, do you need to track income and expense by project? Would you like your system to include bank reconciliation? Will you need to track sales commissions? How about creating quotes and turning them into orders? All of these are just samples of things that are included in some accounting systems, but not all of them. Here are some ways to get unbiased information about top accounting software available.

  • Conduct a search at: www.Capterra.com.

    This site lets you enter your needs and then view products based on your criteria. Results are non-biased. Alternatively, you can provide your criteria and speak with a software representative, and then wait for vendors to contact you directly, based on your needs. In fact, this site allows you to search this way for all types of business software, not only accounting software.

  • Conduct a search at: www.FindAccountingSoftware.com.

    This is another non-biased site where you can put in your parameters and sort through vendors. Alternatively, you can enter your criteria and speak with them to get a thorough needs analysis, and have vendors contact you directly, based on your needs. This site is obviously focused on accounting software and its closely related products.

Alternatively, you can check out our accounting software! We’ve developed and distributed top accounting software programs since 1979 to thousands of growing businesses across the United States and Canada. Click here to join an online demo of CenterPoint Accounting Software and see if it’s right for you.

Looking for payroll solutions?

Payroll is an important part of your business. Staying compliant with payroll tax filing and paying employees on time are both crucial functions. The right payroll solutions help businesses stay compliant with taxes, keep employees happy, and streamline payroll processing.

Here are some of the first things to think about on your journey to finding good payroll solutions, and more specifically, the right one for your business!

Basic, Medium or Advanced Payroll Solutions

Basic: most basic of payroll programs can often be purchased easily off the internet or on the shelves of retail stores. These programs often work very well for business that are just starting up and have only one or a few employees. Remember, you will need to get updated tax information so your tax forms are up to date. Once it’s time to get updated tax forms, this will typically incur a cost. Also, once you reach a certain number of employees or other data, the software provider may require you upgrade to a paid service to accommodate that. One popular provider of basic payroll is Quickbooks Payroll by Intuit. They offer several basic options. Signs you need a basic payroll solution:

• You only have one or a few employees.
• You are just starting to run payroll.
• You don’t have any special payroll needs.

Medium: When your business grows, you start growing in your payroll needs as well. Adding more employees means more employee garnishment types, more ways to pay employees (such as salaried, commissioned, piece rate, and more), and maybe even the management of multiple company payrolls. These are just a few of the signs you need a better payroll solution. Many companies start tracking information by hand and quickly find it frustrating and inefficient. Medium payroll solutions can usually handle the tracking of that information for you, streamlining your job and ensuring accurate payroll data. For medium solutions, you should write down your specific needs and work with a company representative to be sure their software can meet all you are looking to accomplish. Check out CenterPoint Payroll Software by Red Wing Software, which helps thousands of businesses in the U.S. accommodate their growing payroll needs. Here are just a few of the signs you are ready to move to a medium solution:

• Spreadsheet tracking of payroll information is cumbersome.
• You need to enter and track payroll information for multiple locations or multiple states.
• Functions such as pay or deduction codes are more complex than your system can accommodate.
• Your system is bogged down, slow, or experiencing crashes and lock-ups.

Advanced: If yours is a very large business, you may start to require more advanced functions than small or medium payroll solutions can offer. Detailed human resources management, employee and manager self-services resources, and time management are just a few of the things large companies may require for the efficient management of payroll. For advanced payroll solutions, you will likely work at length with a company representative or team about your needs. Implementation and training may take weeks or even months. Check out Lawson Software. Some of the signs your business needs advanced payroll:

• Standard systems just cannot handle your business needs, so software code changes are required.
• You are using several different systems that don’t work well with each other.
• You need much more detail than offered by a payroll solution, such as human resource management, benefits administration, or a multitude of other functions.