5 Factors to Consider When Choosing Accounting Software

Choosing an accounting software is more than just considering the price or its features. You need to look into at least five factors so you can avoid the common mistake of investing in the wrong software. The last thing you would want to do is to struggle with your wrong choice or convert to a different software, which can be a much more costly move.


Scope of Business

Your choices of accounting software in the market come in different types and features. Some are suitable for small- to mid-size businesses, while others are designed to fit the complex accounting structure of larger companies. The second factor to look into is the scope of your business, whether it requires basic or advanced accounting tasks. Make sure you evaluate the accounting requirements of your company, and list particular tasks you want the software to handle. Examples of which are available in rockbell accounting software in Singapore include inventory management, cost accounting, or payroll. You also have to consider the future of your business, as your software should fit not only today’s demands, but also tomorrow’s.


In business, once you invest in something, you have to be certain that you will have return of investment. If you will not be able to gain something out of a risk, that is considered a loss on your part. The first factor to look into is the cost of the rockbell accounting software. Aside from the overall cost of the software itself, you must also check the fees for annual licensing, upgrades, and support. Moreover, check if you can perform the installation of the software yourself. If not, get estimates for installation and add that into the overall cost.

Knowledge Required

All accounting software packages in Singapore market have one purpose, and that is to make bookkeeping and accounting tasks easier, faster, and more accurate. However, you must keep in mind that powerful software cannot be maximized if your staff cannot learn to use it. The third factor to take into account is the difficulty of the software and the education level of your staff. Some software needs high-level accounting background for installation and use, while some packages are designed to fit those who minimal accounting knowledge.


Access and Portability

One of the best things about rockbell accounting software is that you can choose to have it in one computer or in a network of computers where more authorized users can access your financial data simultaneously. The fourth thing to consider is your location. If you have only one business location, you can have any accounting program that installs on a network server. But if you have multiple locations, you need to think of how employees can access your software when they are on field. In this case, consider having an Internet-based software.

Modules Included

Another factor to consider is the modules included in the accounting software of your choice. Find out what modules are included in the base price of the software package, and determine what modules come with extra cost. For instance, other software vendors in Singapore have additional charge for a payroll module. If you are planning to get more modules, note the total cost of the package, as well as the individual modules you intend to have, so you can better compare various software packages.

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