How Can You Pick the Best Accounting Software for Your Small Business?

Contact Infiniwiz today for more information on our IT consulting services or to set up an initial consultation for your accounting and other technology needs.  

Infiniwiz is an IT managed service provider with small to midsize business clients in Chicago and the surrounding areas. We can help you choose the right accounting software for insight, tax, and operational transparency. Price, convenience, and functionality all play an important part in your final decision. However, the first step is identifying your unique needs and finding an experienced IT company that can help you implement the software on your computer and other devices.

Before combing through the list of software and contacting the companies, there are a few things you should do to support your search.

What Is Your Budget?

You can get basic packages starting from $7.00 a month to an average of about $20 a month. More advanced packages can be had for well under $100 a month and are powerful enough to support your business as it grows.

Before you look at a single software package, figure out what you can afford to spend on bookkeeping. Include the cost of labor if you plan to bring in someone else to handle the numbers. Leave wiggle room in your budget in case you decide to upgrade your package to add additional functionality.

What Do You Need Your Accounting Software to Do?

While setting up your budget, consider bringing in a trusted local IT company such as Infiniwiz to evaluate your current business setup to help you decide what you need your accounting software to do.

For example, do you want a platform that tracks inventory and receipts? What about sales tax? We can help you make a list of current and future requirements so that you can choose accounting software that meets your needs well into the future.

How Do You Ensure the Software Meets Your Needs?

It’s easy to get distracted by the different features in the accounting software. However, consider core functionality first. The software needs to be able to handle the volume of transactions and complexity demanded by your business.

Don’t pay for features that you won’t use. For example, if you don’t do business outside the United States, you don’t need software that handles exchange rates or customization for global teams.

Refer to the list of needs you prepared often and ask the following questions regarding each software package:

  • How secure is the software?What other costs or might you encounter?
  • Does the software make it easy to back up your system and data files?
  • What is the quality and availability for the customer support team? (If you contract with Infiniwiz for your IT needs, we can handle the troubleshooting for you.)
  • What pain points do customers experience with the software?

What Are Best Accounting Software Packages for Small Businesses?

The final selection is the best solution that works in the long term. Otherwise, you could end up back to the drawing board within six months. Infiniwiz consultants help you vet out several tools and provide a final recommendation that best meets that needs of your business now and for years to come.

What’s the Best Accounting Software for Small to Midsize Businesses in Chicago?

Here are the top 10 recommendations for your consideration:

1. Intuit QuickBooks Online

2. FreshBooks

3. Pabbly

4. Wave

5. Sage 50cloud

6. Xero

7. Zoho Books

9. Kashoo

10. AccountEdge Pro

Contact Infiniwiz today for more information on our IT consulting services or to set up an initial consultation for your accounting and other technology needs.