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How To Compare Different Accounting Software for Your Needs

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If you’re looking for an accounting system in the Philippines, you’ll typically have a wide variety of choices available, from free software to custom-made solutions. However, while they all broadly perform the same purpose, each accounting solution has sets of features that make each of them more or less suitable for your organization.

It can be difficult to compare different accounting software, simply because they may use different approaches, are meant for a certain type of customer, or occupy different pricing tiers. Hopefully, by comparing the different areas below, you can better compare different solutions offered by vendors as well as those recommended by people you trust.

1.) Budget

It’s usually not fair to compare free accounting software with solutions priced at tens of thousands of pesos. For a more fair comparison of different systems, it makes sense to compare them with their acquisition price in context.

2.) Training and user support

Accounting systems are only as good as the people who use them. A system that’s theoretically powerful is useless in reality if you’re unable to use its true potential. This makes it especially important to look for vendors that can provide user support and training. If it’s a free software solution, there should likewise be extensive and accessible documentation readily available for reference.

3.) Customization solutions

Different organizations have different needs. While there are plenty of accounting systems that will work well out of the box for most users, some level of customization is often necessary to make them suitable for a business.

However, some customization options are more difficult or expensive than others. Some accounting suites have a simple modular design, while others may need extensive modifications to suit a particular business operation. In any case, you want to choose software that doesn’t need extensive modification to work.

4.) User interface

A system with an intuitive user interface will be easier for your organization to transition to and require less training to master. Better user experience will also tend to reduce user errors as well. Better layouts will also reduce the frustration of needing to relearn a new system from the ground up.

5.) Reporting

The way accounting software presents data can be critical in helping a business understand its current status. Reporting should be simple and fast. Many accounting software suites allows real-time reporting or something close to real-time, which can be handy for businesses in fast-paced environments.

6.) After-sales support

If you buy your accounting software from a vendor, see if they can provide extended support. This can be critical for preventing excessive downtime and helping you maximize the utilization of your purchase.

7.) Deployment (cloud vs on-site)

There are different advantages and disadvantages to both cloud and on-site hosting for their accounting system. These days it makes sense for most small and medium enterprises to go with a cloud-based solution. However, some larger businesses may see some advantages in maintaining on-site servers. Either way, it pays to do research on which deployment method works best for your business before you commit.

8.) Developer reputation

Some developers have a reputation for not standing by their products and others are known to be slow to roll out fixes and patches. In any case, it’s important to do your homework on the developers of the software you’re shortlisting, as this can help you better understand the risks of committing to a particular piece of software.

Conclusion

Knowing how to compare different account software solutions is an important first step before making a purchase that may impact the direction of your business for the next decade. Take your time to compare your accounting software options as your organization will be feeling the impact for years to come.

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