In these times of economic instability and unemployment, good money management can save at-risk businesses and protect those businesses that have been lucky enough to stay afloat. One key move your business can do to save money in a time when the economy is in such a state is to choose the right payroll software.
Accounting and Bookkeeping Software Overview:
Accounting Software Available To You On The Market
When you want to keep track of your records regarding financial matters with your computer you will need quality accounting or bookkeeping software. There are many to choose from on the market. Many have different features. If you have a business or personal life that requires a certain specialized system you may be able to find it already available to use with a software program that has been created. The trick is finding the right one for your needs.
The software ratings on the market will give you an idea of the types of products that have the highest ratings. This does not mean that it is the right fit for your needs, but it will give you an idea of what you can find. These different ratings include the ease of use by those who have rated it.
They also include the features that a program has. This of course includes accounts receivable and accounts payable. But it also includes features such as payroll, inventory, banking and timed billing. You can also find the basis on a product’s use and containment of invoicing, general ledger and even its ability to accept credit card transactions for you.
The number one rating on the market today is Peachtree. This software ranks the highest for usability by consumers and those who tested all of the top selling products. Out of all of the software features listed, the only two items missing were electronic deposits and taxes. So if you need a program for electronic deposits then this top rated program is not for you.
Rated second on the list was MYOB Business Essentials. These were rated just like every other accounting software program. This program does not allow you to track fixed assets or calculate shipping costs. So again, if these are needs you have for your business then it may be a great program, but not the one for you.
Third on the list, and most likely the best recognizable brand, is QuickBooks Pro. This is the professional versions, as there are many different programs that the company makes for different levels of use. It is interesting to not that Peachtree average price is around two hundred dollars and MYOB is a hundred dollars, while the third rated program is in between the two at an average price of one hundred fifty dollars.
Rated fourth and fifth on the list is interesting as well. These are NetSuite Small Business and Cougar Mountain. The price rises significantly on the price list, though they are not in the top three. Both of these programs cost on average over a thousand dollars.
Rated on the list in the following order are Bookkeeper, Simply Accounting, CYMA IV for Windows, DACeasy and Bottom Line Accounting. One item that lowered them on the scale was the ability to handle fixed assets. Peachtree is the best at it while Bottom Line Accounting does not support it. Pricing did not seem to have an effect on the rating in the accounting software that was reviewed.
A suitable accounting or bookkeeping software for your business should have the features your business needs. For example: do you need inventory tracking, or does your business requires detailed reporting to submit to share holders. There are programs on the list starting at less that forty dollars on up to programs that cost over a thousand. The best thing is to know your needs before investing in any program. Then you are sure to get exactly what you want and what you need.
Jay on behalf of Nooshin
Issue: When restoring Simply Accounting CAB file, you encounter an error.
There might be various reasons for this. In my case it was due to these points:
1- I was backing up my data from a directory that had some unknown files in that directory (folder), like ibdata1, iblogfile, and errorlog.txt.
2- The directory name that Simply Accounting data files located in were called something.SAJ. The folder name with the extension of SAJ is a special name Simply Accounting uses for its data. I think it will cause problem, if I create a folder name with that structure myself.
How to fix this problem:
1- When creating a folder to save Simply Accounting data, give it a name without SAJ extension. For example you may want to save your data as mycompany.SAI in a folder you created as: C:\mydocuments\data. You basically end up with a file named mycompany.SAI in the folder of: C:\mydocuments\data and you also end up with a folder created automatically by Simply accounting called: mycompany.SAJ in the folder of: C:\mydocuments\data. What you don’t want is creating a folder called: C:\mydocuments\data.SAJ
2- If restoring still gives you error: Open up your original data. Click on File and save it as a different name in a different directory. Now back up it up. The resulting CAB file should be ok now. To make sure, try to restore it.
3- If restoring is still problamatic, clear the option of verify data during backup.
The days for paper-based ledgers to track your daily receipts are gone. Now there are several accounting or bookkeeping software available. Accounting software can become your friend and help your business in many ways: save time, reduce errors, customer and supplier organization, make payroll simple and keep track of inventory.
Every business needs to know where their money is going. There are some top selling accounting software programs that will simplify your small business accounting tasks and provide hundreds of reports so you can see at a glace how your business is performing.
Before you choose which bookkeeping accounting software to buy, keep the following in mind:
1-can it be upgradeable as my business grows.
2-is it easy to use and learn.
3-does it cover all the features needed for my business.
4-does it have the specifications to run on my computer.
5-does it have network capabilities.
6-will the supplier offer online and phone support.
7-is the price within my budget.
1. Simply Accounting by Sage Software
Simply accounting is a full accounting and payroll package with all the features any small business needs, including internet and e-commerce. This small business accounting software provides screen tips and drags and drop functionality making the accounting program easy to learn. Professional versions include a time and billing module as well as project costing.
Simply Accounting premier 2010 includes two-user license. The Canadian version will calculate GST/HST and PST/QST and prepares government T4s, ROEs through print and efile capability. Simply Accounting is available in first step, pro, premier, enterprise and accountant edition, with prices and software capability to suite every small business.
2. QuickBooks by Intuit Canada
QuickBooks is a full featured small business accounting software available in basic, online, pro and premier edition. The 2010 pro and premier versions have new features such as document management so you can store all your business documents in one place, customize invoices, cheque deposits and over 100 reporting options.
Like Simply Accounting, QuickBooks can also track Canadian taxes, print T4s and ROEs.
3. Peachtree Complete Accounting Software
The complete version of this small business accounting software includes over 100 reports and has in-depth inventory, time and billing and job costing. Peachtree Complete Accounting Software is multi-user ready and the value pack offers 3 or more users. The 2010 version includes business analytics that let you compare your business to the competition and examines key data. Peachtree is also available in premier and first accounting version.
4. MYOB Premier Accounting Software
MYOB offers three accounting systems, one for Mac users and two for windows users. The basic version of MYOB handles simple accounting needs, including banking, sales, expenses, and customer management. MYOB has more comprehensive accounting software with tools such as forecasting, budgeting, sales and receivables, purchase and suppliers, time billing, inventory, payroll, contact management integrated with Microsoft outlook, and logo design.
The four accounting bookkeeping software all have one goal in mind, to provide good accounting functions and reporting for your small business. The trick to buying software is the ease of use, support, and capability to upgrade.
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