The factors to be considered when buying accounting and inventory software depends mostly on the specific needs and priorities of your business, but there are several important factor each system has to meet to be worth the money you are investing in it. Here are some factors you should be looking for:
AN INTEGRATED INVOICING MODULE
Irrespective of the key operations, your accounting system should be complete (inventory management, for instance) and, if possible, you should always buy an accounting software that offers at least some basic billing and invoicing functionality. By doing so, you will relieve yourself the stress of purchasing additional software or moving data to another system.
There is no system that can do all your accounting needs (in fact, this is one of the most diversely targeted software category), and the reason for that is that each company runs their own finance calculations and adheres to a different set of rules. If you can't find a specific system that matches your type of business (which I doubt will ever happen), go for a flexible program you can adjust to fit in your business operations, one that is able to grow with your business.
EASE OF USE
There is nothing simple regarding accounting procedures and calculations, therefore, the least your new accounting system out to be ready to do is to give you an intuitive surrounding to work in. This means information ought to be organized neatly and functions should be accessable on one dashboard. You should complete operations within minutes following a navigation pattern you are already used to.
As we already noted, accounting systems play around the most sensitive data of a business, namely the numbers it depends on. In order to ensure that making calculations and sharing data within the system is safe, buy from a reputable vendor and check security mechanisms in advance before payment.
At the point where you are purchasing an online accounting solution, you will already have an array of software pieces to put up with it. In order to avoid changing your entire software infrastructure because of a single program, do things the opposite method—get a system that integrates with the tools you have got, or, in the best scenario, offers open API for you to connect it with any system you would like.
Mobile-ready accounting systems are no longer a luxury only enterprises can afford, so why not choose one for your needs? Nowadays, most popular vendors offer native Android and iOS apps for their users, where operability is almost the same as with the desktop version of the system.
The software logic applies again: the more work which a system can do, the higher the price it will cost, therefore if you can afford a fully-featured and ahead-of-its-time suite, buy it! You should know, nevertheless, that quality accounting systems can be purchased at a fraction of that price, and some of them are even available for free.
Most accounting software vendors parade themselves with knowledgeable and responsive teams, but the truth is until you have actually had an issue to be sorted out, you won't know how efficient they are. To avoid some disappointment for the money you have spent, test support in advance.