Managing accounts and performing accounting operations are always a hideous task. It was once leather-bound journals and spreadsheets that had a greater chance to be getting lost and of lots of mistakes. It was necessary to have an aid that can simplify this entire hideous task and accounting software evolved to fill this void. Accounting software is single entry programs that are used for individual record-keeping which can process accounts receivable, accounts payable, payroll and inventory functions. Time had changed and gone are those tons and tons of paper days. Now everything is completely digitalized and accounting software too became the same. Through the digitalization of accounting systems, business data can be accessed from anywhere at any point of time. Now no businesses rely on a paper-based accounting system; even small businesses had changed to spreadsheets for their financial planning and budgeting. And there is even accounting software for small business by providing with a greater flexibility and strength to the business services.
Accounting systems are digitalized and they had made the task simpler and easier. They allow options to select the software based on the type of business you run; whether it be an accounting firm, manufacturing firm, or construction firm you can select the accounting software based on your need. If you own multiple businesses, they also provide within a single system so that you can access the business data within the same place. So the need for accounting software is a must. Your small business may require low-cost accounting software to do business and your fast-growing business may require an accounting system that can grow with your business.
Many organizations work with their current accounting system for a too long period of time as they are comfortable with what they have prior knowledge. They don’t want to experiment with new and unknown things. The cost to change the existing software and the time needed to learn the new system are also another fact that withheld people from changing their accounting software. But for the success of your business, it is important to update your existing accounting software.
Criteria for choosing Accounting Software
The challenges to successfully choosing, installing and implementing new accounting software are many. But so are the opportunities to gain greater control of your organization’s financial
affairs, to make better decisions, and to improve cash flow, among others. The remainder of this guide describes the six steps to successfully selecting accounting software:
Collect the needs of functional groups
Accounting software works for your entire organization; it is not dependent on a single department like the finance department. Before purchasing accounting software, collect the information and requirement from the functional groups within your business. This will help you to select, implement and use the best possible financial software service for your business. The functional groups include system users, system managers, system customers and system sign-offs etc.
Define the challenge
While selecting accounting software for your business you should try to know the capabilities and weaknesses of your financial department. If you know more about the challenges the software should cover, the more accurate will be the decision you will make. Note down the challenges you are experiencing and then make a list of things you need to cover with new accounting software. This information will be the base of your needs and according to this list, you can purchase new accounting software. Accounting software could be customized according to the business needs and provide flexibility. Rather than changing the way of your business for accounting software UAE, make sure that the accounting solution you choose should be flexible enough to fit your business requirements.
Choose a consultant
You need someone’s help to install the accounting software for your business; it is too good if you have someone within your organization to run it; if else you should look for a consultant to analyze, purchase, install and maintain the accounting system. Consultants are paid helping hands who could help your organization in various ways like evaluating and select the best accounting system for your organization, to save time and money during system installing and subsequent training and also to get the best out of the new accounting system based on the capabilities of the system and the requirements of your organization. The best consultant to work with is someone who has prior knowledge in installing accounting systems for business enterprises which are similar in size to yours.
Evaluate application performance:
The fact is that every accounting software providers in Abu Dhabi perform the same functions; they just differ in the way they perform specific tasks. The momentous difference within the programs is based on the kinds of information they deliver and the difference between the modes of showcasing it. Good accounting system offers valid choices between services and with notification messages.
Choose a software vendor:
When you have shortlisted different possible accounting software, the next step is to make the right choice. Good software suppliers would update their software frequently and also will help to fix bugs quickly and easily to their respective customers. Before making a final decision makes it sure that your desired software publisher provides maintenance facility and also provides you with new updates for a smooth functioning.
Implement the system:
When you had fixed the product you want and purchased it, the next step to perform it is time to install the solution. Make sure that more than one person you’re your organization knows how to run the system provided with skills and experience with computers and other operating systems. During the implementation phase make your employees aware of the new system; don’t surprise the users. Let everyone know the changes within the organization. Let the consultant or the software vendor arrange a training program for the employees which will help everyone to get adapted to the changes and learn quickly.
For most of the organizations, it is hard to make a decision on selecting the appropriate accounting software for their fast growing business. The accounting software in UAE should serve the best for its current needs and also serve the future needs. Best Accounting Software in UAE could include all these factors. If the wrong purchase is made, the company may suffer from the loss of time and money and could be a complete disaster for the organization. With a great deal of researching all the aspects of the software, you can select the most appropriate one for your business.