Balancing the books is a burden that all businesses have to bear. Small businesses, in particular, should prioritize handling their accounts in an efficient way. There are plenty of desktop accounting software platforms built to do this today. But, the question you need to answer is whether your company actually needs them, or whether you should outsource to an accountant.
The first thing to mention is that desktop accounting software isn’t all identical. Especially, in terms of the features they include and the target audience.
For example, when comparing Xero vs MYOB, it will quickly become obvious that these are platforms built for finance professionals. However, alternatives like Parpera are more for business owners and sole traders.
This means you cannot really consider your need for desktop accounting software based on just one platform. Instead, it is better to know that you definitely require the right package. Thus, you simply have to select the solution that is the best fit for your organization.
Another major selling point of modern accounting software services is that they can take the hassle away. They can handle many everyday aspects of running a business. From issuing invoices for work completed to clients, to tracking expenses that employees accrue. Or, use it to collect the information needed for tax return filing. All of this and more can be encompassed without the stress, and without monopolizing your precious time.
Even if you are working with an external accountant, the software can streamline the sharing of data All while still ensuring complete security for this precious information.
Indeed many accountants will expect their small business clients to have some form of software for management purposes. So, it is a case of keeping pace with the times as much as anything else.
The days of being limited to software that only runs on desktop devices, and only after it has been painstakingly installed and set up, are well and truly over. Modern business software of all types, from accounting programs to collaboration tools and beyond, now supports a broad range of desktop and mobile devices. However, they also offer cloud capabilities to their users.
With this, you can keep on top of your accounts from any networked device from any location in the world with web access.
Aside from the flexibility, the other perk is that there is no need to worry about keeping the software up to date yourself. Instead, this all happens on the server-side.
Clearly, there are potential problems that could emerge from relying on a cloud software solution. For example, vendor downtime leaves you in the lurch. But these concerns are more than eclipsed by the advantages offered to small businesses in particular.
Following on from the discussion of the benefits of cloud-based apps for small business accounting, it makes sense to touch on the inexpensive nature of these software packages. For just a few dollars a month, you can get enterprise-grade accounting capabilities at your fingertips. Not to mention, excellent scalability to boot.
As your business grows, good desktop accounting platforms will grow with you. Thus, making the leap to an alternative service is also straightforward.
So the short answer to the question of whether small businesses need desktop accounting software is yes. The longer answer is that you should still be discerning in your choice. Be eager to compare the features and pricing from different platforms to get the best deal.