How to choose your accounting software?

How to choose your accounting software?

Do you have a startup project? You will need to set up accounting and tools to manage it. Started by appropriate software. There is no shortage of accounting software on the market: Quickbooks, Sage, Dext, Cegid, Oracle, etc. How to make a choice? Based on what standard? Libeo gives you the keys to choosing the right accounting software.

What is accounting software used for?

It is a set of computer programs designed to perform mandatory accounting operations and business tasks. In other words: Manage recurring payments and suppliers; Cash flow monitoring; Bank reconciliations; Account bookkeeping Income statement. Money is the driving force in trade wars, and executives, CEOs, CFOs and other financial decision-makers must choose their weapons wisely. However, considering the challenges of business accounting, choosing online accounting software is not easy. In addition to the existing wide range, there are also compatibility issues between the software and the company’s existing solutions (billing, management, administration, etc.). Some companies choose to develop their own software in-house, while others prefer to purchase licenses from distributors. The third option is to use a SaaS (software as a service) solution.

Concretely, what is it for?

Much progress has been made since the 1960s, but it may not have been achieved with the search for imitative human AI. Rather, as in the case of the Apollo spacecraft, these ideas have often been hidden behind the scenes and have been the work of researchers focused on specific engineering challenges. Despite not being visible to the general public, research and systems creation in areas like document retrieval, text classification, fraud detection, systems for recommendation, personalized search, analysis of social network, planning, diagnostics and A or B testing have been a great success . These advances have driven companies like Google, Netflix, Facebook and Amazon.

Choosing your accounting software: questions to ask yourself

1. What is your budget ?

For high-performance software with all the functions necessary for accounting, you probably have to pay the price. Depending on the formula, the average price of accounting software is different: Standard discount of 10 to 20 Euros per month; Between 20 and 50 euros per month you can get more premium discounts;

2. What is your sector of activity?

The accounting management of a company requires different requirements, depending on its size, but also its business challenges. Certain industries require specific software. This is for example the case in the catering sector. In fact, restaurants and hotels have a specific chart of accounts with appropriate expense and income accounts.

3. Is your accounting internalized or outsourced?

Many businesses choose to outsource accounting, that is, entrust management to a chartered accountant or accountant. Accounting management is undoubtedly an activity that requires maximum transparency and easy access to all the company’s financial indicators. If you have a remote bookkeeper with you for bookkeeping, please ensure they have access to the software they have set up.

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