Choose your accounting software for better management of your business

Choosing your accounting software is often difficult; it is a key step for your business. There is a multitude of software allowing you to do your own accounting. If you are a young entrepreneur, acquiring accounting software can be very expensive.

Choose your accounting software

Add to that the very expensive cost of accounting software, especially if you invest in high-end software. The mistake that many make is to be too perfectionist, we want the best software, to be as efficient as possible. The problem is that for a start of activity we have low needs in terms of accounting and that the majority of entrepreneurs are already linked to a chartered accountant who takes care of all their procedures. The advantage of having an accounting software is to be able to integrate your data quickly to communicate it to your accountant. Chartered accountants often have solutions that adapt to their clientele, it is up to you to find out whether yours has such software that would simplify data exchange.

Learn about accounting software for better decisions

In order to determine the right software, you have to ask yourself the right questions. If you have an accountant (as said earlier) ask him if he has accounting software to offer. It can be of good advice in the choice of your software.

Now you need to focus on the functionality of your software. Do you have specific needs? What tasks are taken care of by the accountant and what tasks you still have to do. Depending on the tasks you will have to do, you can ask the supplier of your software to customize it according to your needs.

Take into account your budget, an accounting solution may be more or less expensive depending on its size and the features it incorporates.

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Knowing the number of users is important, depending on the solution, you will have access to a certain number of user accounts on the same solution. User accounts may have rights depending on the responsibility of the person. Right of viewing on certain aspects or right of modification. It's up to you to define your needs.

The most requested aspect in management software is, above all, dashboards. The essential tool for managing and adapting your decision-making according to the results. Now you have access to very advanced dashboards with various functionalities that will allow you to make your decisions with precision.

The type of accounting software according to the size of your business

Before investing Customized accounting software in Dubai, you must try to visualize the need of your company. You have three types of software depending on the size of your business:

Software for very small businesses: this type of software is mainly aimed at small businesses that have a small management of accounting. The majority of the accounting activities of this type of business are carried out by a chartered accountant. This type of software is also very standardized and is much less expensive than custom software.

Software for SMEs: here, we arrive at a company that has between 10 and 250 employees. In this type of business, it is best to have a dedicated accounting department. We will always stay on standardized software, but much more complete. Our objective will be to be able to manage the VAT declarations as well as the sending of the tax package. The objective is that the company can move forward independently.

Software for large companies: here, we are faced with a company of more than 5,000 employees, so a colossal need in terms of accounting organization. This type of business has a very specific need, so you will need a personalized tool. A personalized tool needs a long development of a lot of money and it is a large-scale project which requires a steering committee and a person dedicated to the project.

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Micro businesses are not obliged to keep accounts and will be able to use very easy and intuitive solutions. But in no case is it mandatory for this type of business to have one. You can therefore do as you see fit according to your needs.