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How to Choose the Right Accounting Software for Your Startup

We live in a digital world, which means that your small business is going to get left behind if you are still tracking expenses with pen and paper. If you don’t already have a good accounting software program, then it might be time to implement these changes so that you can boost your reporting and tracking.

Overcoming the Overwhelm and Indecisiveness

A search for “accounting software” on Google will uncover a seemingly endless list of possibilities that might be used for your company. One common problem is that small business owners start reading reviews and information about these different software programs… and then quickly get caught in “analysis paralysis.”

Even though there are many options available, this decision doesn’t have to be stressful or complicated. Choosing the right accounting software is easy when you lean on the advice and expertise offered by an experienced accountant. Don’t be afraid to ask for advice or information while you are comparing the various options in the accounting industry.

Ask Questions about What You Need

You will struggle with choosing the accounting software if you don’t have an end-goal in mind. Ask yourself: what are the features and details that need to be available in the program? Asking a few questions about your goals and needs will help you steer the decision in the right direction.

For example, if you only hire contractors and don’t have any employees on the payroll, then the payroll features might not be important to you. But don’t overlook the possibilities that you might need payroll processing in the future

Consider the Future

As you get clear about your goals, you can consider the features or things that you might need in the future. It is important that the software program can grow as your company expands. You don’t want to face the headache of changing accounting software during the stressful time of business growth in the future.

So, make sure that you don’t cut corners right now. Choose a good software program that meets your current needs and will allow you to expand in the future. A good accounting program will help to minimize the growing pains while keeping you informed about the financial health of your company.

Price Points and Value

How much do you want to pay for the accounting software? It might be tempting to choose a product based on price alone. You are choosing to organize your finances to manage cash flow, so it makes sense that you are trying to save money on the expense.

Instead of only looking at the price tag, evaluate the value that is available from the software. What features will save you time? Decreasing the time that is spent on accounting and bookkeeping tasks is the same as saving money because you can redirect that time for other business activities.

In fact, choosing a cheap software program could potentially cost more money in the future. You might use the software for a while, only to find that you run into problems because you don’t have the necessary features. As a result, you will likely lose both time and money when you decide to switch to a different software. Not only is this future change time consuming, but it can also be stressful.

There’s no question: choose a program right now that will handle everything that you need in the present and future. You should never cut corners when choosing the right systems and organization for your startup company.

Talk to Industry Professionals

It is important to talk to an accounting team about the recommended software programs in the industry. This information can be valuable to help you select a system that will improve your company. Have a conversation about your current and future needs and ask for advice about the ways that you can simplify the implementation of a new tracking system.

In addition to simplifying your finances, you also need a robust computer software that will generate the reports and data that is required. You can use these reports to determine the right decisions in the future regarding cash flow, expenses, and other financial milestones that need to be met.

Make sure that you are working with accounting professionals who understand your industry. For example, if you are just starting a company, then you will be well-served to choose an accounting team that specializes in startups. While a corporate accountant can assist with the services that you require, their expertise isn’t as honed in as someone who is working with small businesses on a daily basis.

One important note: if you are working with a CPA and/or bookkeeper, then it is wise to choose the software preferred by your provider. This financial pro is an integral part of your team and will help with the costly decisions that need to be made in the future. Ask about the software they prefer to ensure they have the system that will enable the best data analysis and reporting down the road.

Cloud-Based Storage

Have you ever had the frustrating experience of having your hard drive crash and losing all of your files? It can be exhausting to recreate the system after everything is lost due to hardware failure. Using an accounting software where the files are only stored on your computer is a risk. If the computer is lost or damaged, then you will also lose all of the accounting information.

A better solution is to choose an accounting software that has a secure system for cloud-based storage. Keeping the information online means that there is no reason to stress if your hard drive goes down. All of the files will still be accessible from the cloud.

Plus, a cloud-based accounting software makes it more convenient if you choose to hire an outsourced accountant. You can take advantage of the skilled accounting services that are available without the need to have someone in your office.

While many accounting software services are cloud-based, there are still old systems that require an on-computer install. Use this feature as a filter to help you choose a program that will last for many years.

Ease of Use

You don’t have to have an accounting degree to navigate the software program. While you are considering the features that are available, also think about the ease of use for each of these features. It is important that the program is user-friendly and a simple solution for people who don’t understand the manual accounting calculations.

For example, many software programs provide a user-friendly admin area with tutorials and simple instructions. You shouldn’t have to do manual calculations for payroll taxes or invoicing. Instead, the right software program will make it simple to plug in the numbers so that you can get the results that are needed.

Additionally, consider how many users will be accessing the software. Not only do you need access to the information when it is time to run financial reports, but you also need to provide access to your accountant. There might be other people in your company who can also benefit from accounting software access, such as an assistant or bookkeeper who is responsible for invoicing. If the person needs to access the computer software regularly, then you should ensure that you have sufficient access logins for the software.

Make sure that each person has their own credentials when logging into the system. The risk of fraud goes up if you have multiple people using the same username and password. If something happens, then it can be difficult to determine the culprit. Keep things clear by separating access for each person who needs to use the accounting software.

Perfect Recipe for Success: Accounting Software and a Good Accountant

Even if you choose the best accounting software, you’ll run into problems if you don’t have the right team to help with the implementation of the computer system. The software is only as good as the person who sets up the system. So, the best thing that you can do to ensure a successful future for your startup is hiring the right accountant to help with setup and implementation.

Combining the right software with an experienced accountant will give you the peace of mind that you are creating a strong accounting system that will last for years. Rest assured knowing that you don’t have to try to figure it out by yourself. Instead, lean on the experience offered by someone who understands the industry.

At Easier Accounting, we specialize in small business accounting services. Our team offers quality, trustworthy accounting services for startups and small business owners. By focusing on services on the smaller companies, we can ensure that you are working with someone who has hands-on experience with other companies similar to your business.

We are happy to answer your questions and help you choose the right accounting software to support your business needs. For more information, you are welcome to call us anytime to talk to an industry professional. Contact Easier Accounting at (888) 620-0770.

What Should I Consider When Choosing an Accounting Software?

Have you experienced the overwhelming feeling of trying to manage the finances for your small business? Business accounting and bookkeeping are much more than just collecting money from customers and depositing it into your bank account. There are many important factors that you need to consider to ensure that you are protecting the financial health of your company.

One of the foundational decisions that you need to make is regarding the type of software that you will use to track the financial information. Here are a few things to consider when making this decision:

Why Manual Accounting Practices are Outdated

Before the invention of computers and the internet, most business owners kept a ledger to track transactions and cash flow. This information was recorded by hand and reconciled manually as needed.

These practices are ancient in our modern, digital world. If you are still recording transactions by hand, then it means that you need to get with the times and implement a software program. Even basic Excel spreadsheets aren’t sufficient to track your information with accuracy.

Manual accounting practices and data entry increase the risk of error, which can have a long-term impact on the financial future of your company. It is essential to ensure that the information is correct so that you always have accurate details about your business finances.

Think about the Future When Choosing Accounting and Bookkeeping Software

You are focused on the current needs of the company, but don’t overlook the way the software will be able to manage future growth and development. The chances are that you will find multiple programs that will meet your current needs. Just because your current requirements are met, doesn’t mean that you will have the accounting power needed for the future of your company.

If you are planning to go through the effort of implementing a new software program, then it makes sense that you should choose something that is designed to last. It will be frustrating to get a few years down the road and find out that you need to make the transition to a different software system. So, get it done right by choosing a program that will accommodate future needs.

The main reason that business owners are driven to use the wrong software is that they want to save money on the costs. Even though there are other software programs that seem to be effective for your current needs, it won’t be worth the savings if you encounter big problems in the future. Upgrading to a new software program will be the last thing you want to deal with when your business is booming, and you are expanding to accommodate the growth of the company.

Support for the Software and Your Business Efforts

The only way the software will be useful is if you have good support for implementation and ongoing transaction management. So, make sure that you choose a company that offers continuous support for the source code. New versions will be released as the industry needs to change, helping you to stay up-to-date at all times without the painful experience of moving to a new software program.

In addition to the support from the software company, it also helps to have support from an accounting team. For example, our team here at Easier Accounting can help with the implementation of your new software program. At the same time, we will provide the ongoing services that you need to improve the results that are available from the software.

We know the nuances of working with an accounting software. We will combine our experience with the power of the software program to offer the best options for your company.

Consider the Security of the Software

One reason you need to choose a software with a good reputation is to ensure the security of your financial information. Encryption and digital security measures need to be in place to reduce the risk of hackers.

Not only do you need safe information sharing from your bank to the accounting software, but you also need to be sure that your outsourced accounting team is using the best security practices in the industry. When you choose Easier Accounting, you can rest easy to know that we are always proactive to protect your information and reduce the risk of threat or fraud to your company.

Desktop or Online Accounting Software Programs?

Upgrade to a software system that allows remote access from anywhere in the world. Limiting the software program to your computer or laptop increases the risk of losing the information if the hardware fails. For example, if the computer is damaged or stolen, then you will lose all of your financial records.

Plus, you won’t be able to take advantage of outsourced accounting services if you aren’t using a cloud-based software program. The internet will allow you to bring in the skills that will optimize your team and improve the future success of your company.

Another benefit of online accounting is that you can access the information when you are away from the office. If you are on a business trip and you need to make a big decision that impacts the financial future of your company, then you can quickly pull up the reports to see a real-time picture of your financial situation. Your accounting team will also be available to offer tax planning advice and other information that needs to be taken into consideration.

Can I Restrict Access for Certain Users?

If multiple people will be accessing your accounting software, then it sometimes makes sense to restrict the information that can be viewed. You don’t need to provide full access to everyone who will be using the system. For example, you might provide data entry access to some people, while a few select people have access to full reports and the overall financial picture of the company.

What Accounting Software Features Will You Use?

One problem that you might encounter is buying a robust accounting system that offers many features that will never be used. If you have a small business without a lot of complexity, then it might make sense to keep things simple with a less-complicated software program. Investing in a robust financial system that includes features you don’t need will result in higher costs that are not justified for your business model.

As a business owner without accounting experience, it can be hard to know which software programs will match the current and future needs of your company. So, the best thing that you can do is consult with an experienced accounting team to learn more about their recommendations. Here at Easier Accounting, we will gladly discuss your current accounting system and help you see the benefits of choosing a software program to match the needs of your company.

Are Outsourced Accounting Services Right for You?

At Easier Accounting, we are here to help you make the transition to a new accounting software that will help your company grow. We have many years of experience in the accounting industry, and our goal is to ensure that you have the right system to support your ongoing needs.

Not only will we help you move to an accounting software that will be right for your business, but we also offer the continuous support that you need. These services are designed to create the best financial future that will set you up for success.

We understand the nuances of small business accounting. So, we are always here to offer advice and help you miss some of the common roadblocks that are encountered along the way. As you learn more about us, you will see that we offer a full range of accounting and bookkeeping services that can be catered to match your needs.

If you have questions about small business accounting, don’t hesitate to reach out to our expert team. We are always here to answer your questions and help you learn more about the benefits that are available for your company. We offer the financial support that you are looking for so that you can focus on the other responsibilities that are required for business growth and ongoing management.

Is it Time to Upgrade Your Accounting Systems?

Whether you are looking to upgrade your current accounting practices or you need to implement a brand new program, we are here to help. We can provide support for start-ups as well as seasoned small businesses. Our specialties are focused on small business accounting and services for entrepreneurs. You can choose from a variety of ongoing accounting packages, as well as one-time accounting services as needed. We are always here to cater your services to match your requirements.

Are you ready to learn more? Then you need to talk to the experts here at Easier Accounting. You will see that we are leading the industry by offering top-notch accounting services for small business. Talk to us today to see how we can help with the growth of your company: (888) 620-0770

Questions to Ask Before Hiring a Payroll Service

Whether you have two employees or two hundred employees, it is important to have a solid payroll system to ensure timely payments to your staff. Many business owners agree that it can be a burden to keep up with payroll processing, but it is a necessary part of owning a business.

If you are overwhelmed with keeping up with your business payroll, then you might consider the benefits of hiring a bookkeeping or accounting service to assist. Outsourcing these tasks can relieve your stress and help you focus on the other essential tasks that need to be addressed.

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Hire an Employee or Outsource Payroll?

Hiring an in-house bookkeeper or accountant might be a good solution if you need support with payroll processing. But, you need to look at the overall costs of hiring an employee to see if it is worth the cost. Not only will you need to pay their salary, but there are other expenses such as benefits, office space, training, onboarding, and more. It is essential that you look at all of these hidden costs before deciding to bring another employee into your company.

An easy way to skip these extra costs is by hiring an outsourced payroll service. This solution allows you to hand off the burden of processing payroll, while still keeping your costs low. Payroll outsourcing is one of the best ways that you can free up your schedule and improve your business financial systems at the same time.

Automating Your Payroll Processing

Payroll processing is not only time-consuming, but it can also be costly to keep up with everything. When it is time to cut the paychecks, it is much more than just calculating the number of hours worked by each employee. Not only do you need to calculate the gross payment, but you also need to keep up with the current payroll taxes and withholdings. Then, these payments need to be sent to the government along with the appropriate reporting forms.

Additionally, there are quarterly and annual taxes that need to be considered, as well as the management of benefits withholdings and more. It can be a full-time job to keep up with the financial details for your payroll system!

As a business owner, there is no reason for you to spend your valuable time on this busy work. Hiring a payroll outsourcing team can allow you to transition to a full-service, cloud-based system that frees up your time to focus on other aspects of business management. You can sleep easy at night knowing that payroll is done and you don’t have to worry about the data entry and tedious work.

Instead of viewing payroll services as a “luxury,” it is time to switch your thinking and see that a reliable payroll management service could save your company thousands of dollars.

Questions to Ask Your Payroll Provider

When you make the decision to hire a payroll provider, you need to ask a few questions to ensure that the services match the needs of your company. Here are a few questions that can help you choose a provider for your needs:

  • What services are included in my accounting package? Most accountants will offer a specific scope of services included in a monthly plan. The best solution is to find an accounting team that will handle the payroll processing and the tax preparation as well. These two services go hand-in-hand, so it makes sense to hire someone to help with both. Payroll processing should include tasks such as payroll tax calculations, automated new hire reporting, deductions for benefits, tracking paid time off, and as-needed adjustments for reimbursements, bonuses, commissions, garnishments, and more.
  • How will the employee payments be sent? Make sure that direct deposit is available, as well as a check option if needed. Most employees prefer direct deposit, although some people want to pick up a printed check.
  • Is it a cloud-based system? Even though you are hiring an accounting team to manage the responsibility for payroll processing, you still need the option to see the reports and transaction details. A cloud-based system will give you access to oversee the details. But, make sure that the system uses the latest encryption technology to ensure the safety of the information. Also, the account information should be secured with firewalls and two-step authentication.
  • How much will I pay per month? Factor in costs for the cloud-based software as well as the accounting services. Make sure that you understand the payment breakdown based on the size of your company. Some accounting services charge a flat fee for the entire company, while others charge a fee for each employee. Compare these costs to the expenses of hiring a full-time accountant, and you will see that it is more affordable to outsource payroll processing.
  • How do I get started? Find out the best way to setup the system and start moving forward. During your initial conversation, you should discuss your current payroll system to find the best way to make the transition to the new system. An experienced accounting team will be able to offer the support that you need to make it as easy as possible.
  • Will all payroll taxes be handled? The simplest solution for payroll outsourcing is to hire a full-service accounting team. Make sure that the payroll service will include required forms such as W-2’s and 1099’s at the beginning of each year. Also, ask about practices that are in place to manage compliance for federal and state taxes, including payments and forms that need to be submitted throughout the year.
  • Can I see what the check stub will look like? Asking for an example of the check stub will allow you to see what your employees will receive. Make sure that the important details are included, such as deductions, taxes, paid time off, and more.
  • What is the policy for payroll changes? The hope is that all applicable information will be updated in the system before payroll is processed. But, you need to understand the policy if changes need to be made. If mistakes occur on an employee timecard, will you be able to update the system before the checks are cut? Be clear on the timeline to ensure that all employees and managers met these deadlines for each payroll cycle.
  • What are the customer support services that are offered? If you have a question about payroll or tax payments, then you deserve to have an experienced accounting team to answer your questions. Ask the payroll provider about customer service and preferred methods of communication. It is essential that you always have a reliable point of contact to call if you need help with anything for your business finances.
  • How much experience do you have in the industry? Research the accounting company to learn more about the experience of the team. Not only do you want to be sure that the company is reputable, but you should also consider the applicable experience in the payroll industry. Find an accounting team that has experience working with other companies that are similar to your business. This hands-on experience is essential to ensure that you are getting the best services that are available.

Most accounting teams will offer an initial consultation so that you can see if their services are a good fit for what you need. This consultation is a great opportunity to ask these questions so that you can learn more about the company and make sure that you are hiring the right team.

Getting Started with a Payroll Service

You will be amazed to see the many benefits that are available when you choose to outsource your payroll processing. This service is one of the best ways that you can optimize your business finances, free up your time, and improve the accuracy of the paychecks that are being distributed.

High-quality payroll processing helps to avoid costly mistakes that could add up every month. For example, if you miscalculate payroll taxes or deductions, then it could be costing your company thousands of dollars. The investment in a payroll service can ensure that you aren’t missing these important details that could be costing you money.

As a business owner, there is no reason that you should be carrying the responsibility of payroll processing. Right now is a great opportunity to outsource this task so that you can spend more time on business development and other management activities.

Are you ready to learn more about how your company will benefit from payroll processing and other accounting services? Then, you need to schedule an appointment with us at Easier Accounting. We want to make it as easy as possible to improve your business finances. So, we will gladly discuss your situation and find the right services to meet your needs.

If you have any questions or you are interested in learning more, we encourage you to call us for a consultation. We are here to help with anything that you need! Contact Easier Accounting for the best small business payroll processing service available: (888) 620-0770

Should You Use a Desktop Software or an Online Program for Your Accounting System?

Whether you are setting up an accounting system for the first time or you are updating an old system, it is important to consider how the software will carry your company in the future. Having the right accounting system provides a foundation that impacts many aspects of your company. If you don’t have the right financial tracking program in place, then it is possible that you might be hindering potential business growth.

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Desktop Software vs. Online System

For years, accounting software programs were designed to be installed on a desktop computer. The software program could be run using the processing system on the computer, and all of the files were stored on the hard drive. This system was revolutionary compared with the old manual processing systems that were used before computers were invented.

The accounting industry has continued to transform, and now many accounting programs offer a cloud-based platform for your business finances. Instead of storing the files on your computer, all financial details are tracked on a cloud software that can be accessed from any location.

Advantages of an Online Accounting System

It is important that you keep up with the times, which means that you should implement a cloud-based software program if you don’t already have one in place. Here are a few of the advantages of using an online accounting system instead of a desktop software:

  • Easy Access: You can be anywhere in the world and have easy access to your financial reports and transactions. These cloud-based programs allow you to manage your finances from many different devices. All you need is an internet connection.
  • Protect Your Files: If the accounting files are stored on your computer, then it is possible that you could lose the information if something happens to the computer. A loss of financial records can be very damaging to your company. Protect your files by using a cloud-based system that maintains backup records of your files. If your computer crashes, then it’s no big deal because you can still access the information from another computer.
  • Online Accounting Services: Instead of handling all of the financial management in-house, there are benefits to bringing on an outsourced accounting team. You can save money and still have access to top-notch accounting services for your company. To take advantage of these services, you must have an online accounting system in place.

As you can see, there are many benefits to online accounting. If you are planning to implement a new system, then make sure that you have a team of professionals to get it set up right. Call Easier Accounting for more information about the services that we offer: (888) 620-0770