Evaluating accounting software for your business can be a daunting proposition with over 4,400 common features found in today’s top accounting software products. There are certain approaches that can help determine which one is best for your company.
J. Carlton Collins, a highly respected CPA speaker has devised his own approach in aiding this process. This 20-minute technique starts with an initial review and if it passes a list of tests followed by a more detailed evaluation.
He breaks this initial evaluation process down in 7 steps:
- Print a financial statement to the screen.
- Customize a data input screen.
- Enter an inventory item.
- Process a sales order.
- Evaluate the account number structure.
- Drill down and around.
- Integration to popular add-on report writers and tools.
After evaluating the above system capabilities the next stage involves determining whether additional evaluation time is warranted. If the system fails this simple test, he advises you to finish testing and discard the software.
If the accounting software had passed initial testing then the next stage would involve a more detailed evaluation. These tests are listed below.
- Search or Look Up capabilities.
- Notes and comments.
- Event-triggered reporting.
- Data slicing and dicing.
- Set up a customer.
- Set up an employee.
- Contact management or CRM
Source: J. Carlton Collins
LedgersOnline provides affordable bookkeeping services for any business anywhere.