ACCOUNTING ARTICLES

Number 13: What to look for in a good Accounts Package

When you are buying any new software, there are always questions to be answered. When you look at the accounts software, you might be looking at the terminology on many boxes wondering what it all means.

There are two things you should look for when buying accounts software: easy of use and price.

Now that does not tell you what else you need, but you do not want to spend hundreds of pounds on an accounting package that you will find difficult to use.

A lot of the features you will need will be common sense.

Does it calculate VAT? If you are registered for VAT, then you need to have accounts software that can calculate the VAT for you automatically.

What about changes in VAT rates, will the software automatically be changed to accommodate that? This is particularly useful in recent years when the VAT rate changed from 17.5% to 15% and then back up again.

Are you involved in the construction industry, do you need to keep a record of all your Construction Industry Scheme (CIS) payment vouchers? Does the software that you are looking at do that for you?

Is the software easy to use, can you quickly and easily input your data, and then generate all the reports you need?

How easy is it to make a backup of the data, and can you restore from any point?

Are you able to know instantly who your debtors and creditors?

These are the types of questions you should be asking when looking to buy an accounts package.

Cash is King is produced by Four Software Limited