Here are some of the important features to look for:
Adaptability: Small businesses in particular tend to change over time, and you need to make sure that the software you are buying today will be just as useful tomorrow. Are upgrades offered? How much trouble and expense is required to upgrade? How often are upgrades offered? Today's software is likely to be obsolete in 5 years.
Support: How much support is offered? How effective is it? Is local service available or will you be restricted to dealing with a call center in India?
Price: Software packages vary greatly in price, not only among brands but also among merchants. Choose an appropriate package and then shop around for the best deal.
User Friendliness: How easy is it to use? If you are a sole proprietor, try using it yourself. Otherwise, have your accountant try using it and get his/her opinion.
Features: Don't pay for features you don't need, but look ahead 5 or 10 years when deciding which features you're likely to need. If you don't need them now, you can always check and see if your package can be easily upgraded to add features you may need in the future.
QuickBooks is by far the most popular accounting software, but then again there are many versions of Quickbooks available on the market. QuickBooks comes in Basic, Online, Pro, and Premier editions. The Pro Edition features tools such as the Cash Flow Projector and the Vehicle Mileage Tracker. Peachtree offers a premium small business accounting software package with over 125 functions including as in-depth inventory, time and billing and job costing features. Other popular accounting software packages include MYOB Plus Accounting Software and Microsoft Office Small Business Accounting.
