Like anything else, not all accounting software is alike. Oh sure, there are the basic essentials such as tracking and analysis. But there are also additional features that aren’t as widespread and aren’t included in many accounting software programs.
Here are some accounting features you might want to explore the next time you are in the market for new or improved accounting software.
To protect the integrity of your company’s information, you’ll want to be sure your accounting software has an automatic backup option. If, for some reason, the software crashes, you can revert back to the previous information state of your data.
You have enough to manage with your business, so worrying about the integrity of your financial data shouldn’t be one of them.
With so many tasks at hand, businesses need to ensure they have a fully automated accounting software system. This means not just covering the simple financial tasks, but complex ones as well. Look for accounting software that will manage tasks such as purchase orders/requisitions, specific department budgets, and a company’s complete financial overview.
Can your accounting software track, analyze, and integrate data from all your company’s divisions or departments? Insist on top-of-the-line seamless integration as well. If you use numerous programs in your business, is your accounting software flexible enough to integrate with all of those programs and meld with them in such a way that data is extracted, assimilated, and processed without delay?
This feature is not a luxury in this day and age of business, it’s a necessity. It is senseless to utilize a handful of software programs in your company but not have the ability to connect the processes together for accurate tracking and analysis.
One relatively new feature for accounting software programs is e-commerce integration. Most businesses have an online component to their brand, sales, and marketing. It’s important to combine traditional business products and services with online offerings to track the overall financial picture.
When you select new or upgraded software for your accounting department, insist on a program that is complex enough to track both areas of your business and provide you with a comprehensive picture for brick-and-mortar as well as online sales.
Multiple Payment Processing Options
Look for modules available for accounting programs that can help manage both credit card payments, debit card payments, and Automated Clearing House (ACH) payments from clients. One such program is XCharge, a company that has nearly three decades of experience in the payments industry. Compliant with current security industry regulations, XCharge now offers modules for some accounting programs that perform in tandem with other accounting tasks.
Accounting software should work for your business, not against it. The key is to ensure your accounting software helps you work smarter, rather than harder. Look for new software developments on a regular basis so you can take full advantage of them as soon as possible. Doing so will reflect innovation in your work and leave your clients with a positive impression of your company.
Bev Sninchak is a veteran freelance writer with 16 years of experience producing content for both print and online publications. She writes about many subjects, from Spokeo removal to mastering the latest social media strategies. She lives with her husband, kids, and a menagerie of pets in the beautiful Rocky Mountains of Colorado.