Investing in efficient accounting software like Peachtree Quantum is an excellent option for your small business, especially if you aren’t exactly in a position to hire a team of accountants just yet.  Currently, many people are still on the fence about the benefits that a digital accountant can offer them.  Conversely, their doubt can be eliminated with some insight and new knowledge.  Here are some facts you should know before you buy or upgrade your software:

Assess your software

This tip is for those who already have a system in place but feel that the progress of their business is starting to outgrow the utility of their software.  Check if your programs can still accommodate the current number of users who should be given access to it, or the sheer weight of work being done simultaneously— if so, it might be time for a change.

Identify your needs

Huffington Post writer Barbara Weltman explains how to know which tools you should be looking for in a software:

Take the time to figure out what types of software, online tools and mobile apps can help you keep it all straight.

Keep records.  Keeping records of your income and expenses is a sound business practice that’s also required for tax purposes.  Select an accounting option that meets your needs — you can choose from software as well as online programs.  Compare features, costs, ease of use and take advantage of free trials. […]

Track and organize time slips, receipts and other documents. If you bill by the hour, you’ll want to log in your work carefully so you can bill accordingly.  You also have to track travel and entertainment costs, noting the kind of information required for tax purposes — the date of the expense, cost, business purpose, name of customer, vendor or other business associate for meals, entertainment or gifts, etc.

Look for demos.

When choosing software, be sure to check it out for yourself before actually buying it.  Look for demos as you would look for test-driving options when browsing a dealership for a car, since this is the only way to be sure that you’re comfortable with what you chose.  Running a demo is a great way to ensure the software includes the features you need.

Comprehensive Peachtree Quantum software from reliable distributors like Quantum Buyers is just one of the many accounting software you should be on the lookout for. Note, be sure to give your choice as much thought as you can before signing on the dotted lines.

(Source: Tax And Accounting Software: 5 Things You Need To Know, Huffington Post, February 10, 2011)