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Friday, February 27, 2009

Choosing Finance Accounting Software For Home Or Small Business

By Steve Russell

Whether you are just looking for help to keep your home finances in order, so that you can keep track of your expenses and what paid out each month, or whether you run a large business with several employees, you will find finance accounting software that will be sure to suit your needs.

If you are looking for finance accounting software for your home then any basic program should do. The home accounting software will allow you to keep track of money earned as well as monthly expenses and other basic accounting needs you may have.

For the small business you will want some reporting facilities available within your finance accounting software, but even the lower cost basic packages have some reporting availability.

Basically for the smaller business you will want your finance accounting software to have options to keep control of your bank accounts, to issue invoices for work you have done so that you can be paid, to be able to keep a record of which bills you need to pay, and when you need to pay them. There are many home accounting software options available to you, and these will possibly have all the functions needed for a small business, especially if you are working from home.

The basic accounting package should have these core elements, with the more advanced packages having the core elements as well as extras.

Professional accounting software packages such as Quickbooks and Peachtree are ideal for the small business with employees. This accounting software will enable you to keep records of paid salaries as well as deductions.

An added bonus with accounting software is that you can keep a close eye on your finances. At any time, with just a few key presses, you should be able to see just how your business is doing. You will be able to pull up all invoices issued but not paid so that you can keep track of the delinquent accounts. You will also be able to see what bills need to be paid so you can make sure you keep all your payments correct and keep your suppliers happy.

If you are in the retail business then the more professional software packages for accounts will enable you to keep your stock levels recorded, which is especially useful for your business.

Business accounting software will come with many handy functions. So if you are doing the bookkeeping yourself you should find that any accounting software will make your life easier with less hassle when you go to do the month end procedures. Likewise if you get your bookkeeping sourced by someone else you might consider looking into doing it yourself with the help of an accounting package and save yourself some money.

Do not be put off by thinking you will need to be experienced in this line, there are plenty of accounting books that will provide adequate training for you. Two of the largest suppliers of business and home software, Sage and Intuit, provide very good manuals that are easy to understand. You can even buy separate training courses for a very reasonable price, so learning the accounts package you choose should not really be an issue.

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