Accounting Software

Types of accounting software

Most small businesses would start with a business software solution like QuickBooks® or a similar product from another supplier to do basic accounting, manage payments, and perform payroll functions. Intended to work alongside spreadsheets and printing calculators, software for accounting helps small businesses stay organized. As businesses grow, it's possible to add additional software packages to perform specific functions, such as business reporting, payroll, tax, and printing checks.

Cloud or on-premise business software

Users have a choice between downloading software onto their personal computers or working online with cloud-based software. Downloaded solutions may offer increased security and privacy as no-one else can access the software. Be careful to choose the correct version for your operating system as some suppliers offer different versions for Windows®, macOS® and Linux™ operating systems. This restriction doesn't apply to online solutions that work through an internet browser. Benefits of an online solution include that it's possible to access packages from anywhere using a variety of devices, including computers, Chromebooks™, and mobile devices.

Subscription and license payments

Like all software, business software requires a license. The usual license arrangement for downloaded software is an annual prepaid license that's included in the initial purchase price. This license must be renewed annually. In exchange, most vendors offer free updates to the latest software version and provide online support. Online solutions usually work on an affordable monthly subscription fee. This has the advantage of spreading the cost through the year and also means that subscribers aren't tied into yearly contracts.

Number of users

Before purchasing, consider the number of people who will need access to the software. Options include:

• Single user: This is ideal for a home or small business with only one person responsible for accounting
• Three concurrent users: Best for a business with a small accounting team as this allows people to perform different functions
• More than three users: Suitable for medium-sized companies that don't want or need full-blown corporate software solutions.

No matter what your needs, you'll find the right accounting software and computer accessories for home and small business use at Quill.