NEW ORLEANS – Every small business needs reliable accounting software, but choosing the right one can be daunting.
"The first step is to figure out what you're trying to accomplish with the software," Liz Moreau with Broussard Poché, LLP said. "It's no replacement for professional help but the right software for your businesses can greatly increase efficiency."
Accounting software can be expensive, Moreau said, so keep in mind these five tips before making the large purchase:
• Basic Accounting Tasks: Sticking to the basics will probably work well for most small businesses. Look for invoicing, income, financial report generation and basic client management.
• Payroll: You need to be able to enter time sheets, calculate pay and print checks.
• Automation: This is a feature that becomes hard to live without, once you have it. Things like automatic billing, recurring payments and past-due notifications will save you time and money in the long run.
• Quote and Estimates: Look for a software that offers premade templates to create quotes and estimates for clients. Most templates will automatically convert to invoices.
• Tax Prep: This will make your life and the life of your accountant easier. Find accounting software that includes automatic tax calculations, multiple tax rates, and tax reporting. Also, a feature that will instantly email data and files to your accountant is a plus.
There are other features that may work better for your business, Moreau said, like mobile access, ease of use and expense tracking but the 5 features outlined above will work for the majority of small business owners. While deciding on accounting software, consider calling your financial planner to get some advice on what they think will work best for a business your size.
Broussard Poché, LLP started out as a small firm in Crowley, LA in 1953. Since then, they’ve continued to expand throughout Acadiana — from tax and audit offices in Lafayette to offices in New Iberia and Crowley. They’ve served thousands of people and businesses in the region — helping them stay organized and make sound financial decisions. Today, the company operates four offices around Acadiana and staffs more than 60 employees.
