Accounting Software Selection
Accounting Software Assortment Resources
Accounting software is used majorly by businesses that cannot afford to seek advice from services of big accounting firms. Even so, there are many things to consider when deciding on software that is needed by a firm. While carrying out research online I found several resources that can help in selecting the right accounting software. They include information on the following: the project proposal, vendors of the software, software demonstrations, project’s information guide, project’s proposal guidance, and systems’ trends, criteria of the software and an outline of technology conferences, exhibitions and expos.
Accounting Software Selection Process
There are steps that need to be pursued in selecting the software and who to involve in the selection procedure is vital. It is fundamental to recognize the persons that are going to use the software. The users of the software should be put into consideration in the process. The software should be easy to be used by all the workers that will be using it. Accountants also need to take part in the software to be chosen. This is because the accountant needs to ensure that the software will generate all the information needed at the conclusion of year. It is also important to involve a consultant to help verify what you will access from the software.
Criteria to Be Taken In Evaluating Potential Accounting System
A number of criteria need to be taken account into in choosing software. They include:
- Software functionality
Excellent business software ought to have a high functionality. It should carry out all the needed accounting purposes of a firm.
- Management information criteria
Accounting software should give management information required by the firm. It should have ‘search and select’ facilities and provide desirable reports.
- Vendor criteria
The software should come with necessary maintenance and support, and execution backing.
- Cost of software
The price of the software must be reasonable. Its maintenance should also be as budgeted or less.
- The software should have a scope to grow with the firm’s business.
- It should be able to contain changes that could occur in the business.
Steps To Pursue In Selecting Suitable Accounting Software
Randolph in his article; a strategy for finding the right accounting software, puts down the essential steps of choosing accounting software. The processes are as follows;
- Establish a technology advisory committee
According to Randolph, this is a crucial step and the committee should involve the managers, directors and accountants of the firm. The committee should verify on the whole process.
- Prepare a needs analysis
This includes finding the problems of the firm. The software should work out those troubles.
- Consider engaging an independent consultant
Finding some much experienced in the field so that they can advise on the correct choice.
- Talk to your current vendor
Give your vendor the comprehensive breakdown of what you need so that they can help you out if they can.
Having steps to follow will help save you money and time and ensure you acquire the needed software. Gelinas, Dull, and Wheeler states that: “the outcome of selection process will support either the support or development of the software” (641).
Large enterprises have a lesser problem acquiring the software compared to small businesses. This is because larger organizations consult the help of big consulting firms.
Choosing the right
software reduces workload and also makes work easier. On the other hand, selecting
the wrong software could present a lot of work due to the mistakes that can
Gelinas, Ulric, Richard Dull, and Patrick Wheeler. Accounting Information System. Boston: Cengage Learning, inc. 2011. Print.
Randolph, P. Johnston. Journal of accountancy: A Strategy for Finding the Right Accounting Software. 2003. Web. 14 Oct. 2014.