Happy Monday, everyone, just following up with our Monday morning tips. This morning I’m going to just briefly talk to you about choosing the right software package. If you are moving from one software package to another or you are a new business starting out, the choice of software package is really vital.
It can’t be something that you just delve into willy nilly based on pricing or what your friend said that they’re using. This is something that you really do need to have an informed decision about.
The decision should be based around things like:
Is the business structure suitable for this software package?
Is my accountant OK with using this product?
The accountant does need to extract information from the software package for your end of year tax returns and also to help with tax planning. So they do need to get information out of the software package.
There are some people that go out and choose something from the internet, something like Invoices Go, something very simple online.
When it comes time to produce valuable financial reporting for the purposes of getting some finance, those products sometimes just can’t produce the reporting that we need. So that means that all that information that’s in there is just wasted.
So my suggestion is to make sure that you have a conversation with a trusted expert who knows a lot about different types of software packages, or your own bookkeeper, or your own accountant. Once you start using a software package, and you find it is not suitable you will find it is very costly to migrate into something else.
To avoid any unnecessary additional costs, it is best when starting out to get great advice on the software for your business.
For more information please visit www.flexiblefinancialsolutions.com.au or call for a FREE no obligation meeting / zoom call.