One of the biggest benefits of operating a
home-based business is that it doesn't
require any formal training or experience.
After all, some of the most successful
individuals never attended a single
business-related class or workshop.
The only drawback to having a lack of
experience and/or business education is
that it can make tracking your company's
finances difficult. Even accountants who
spend their lives working with numbers
often find bookkeeping a tedious chore.
But no matter how mundane keeping track
of your company's revenue and expenses may
be, it is also necessary for several
reasons:
1) You need to know at a glance if your
business is spending more than it is
earning.
2) You need to have all of this
information documented for tax time.
3) You can use this data to help you
establish your budgets and to adjust your
spending.
Of course, just knowing it's important
doesn't make it easier to accomplish. In
fact, you really have two options if you
want to reduce your accounting stress:
A) Hire a professional to help you or
B) Invest in a helpful accounting
software program.
While hiring a professional would be
the easiest route, it's also more costly.
For most home-based businesses, the most
effective choice is to use an accounting
software program.
Before you spend a dime, however, there
are a few things you need to know.
1) Know What You Need The Program To Do
The accounting programs currently
available can handle a wide array of
business related tasks, such as tracking
expenses, creating invoices, handling
payroll, and printing checks. The more of
these tasks a program can do, the more
expensive it will be.
For that reason, you should know
exactly what you are going to use it for.
That way you can get a program that meets
your needs without paying for features
you'll never use.
2) Know The Details Of Your Computer
Before you buy any software, you need
to know your computer's current
statistics, such as what operating system
you use, how much hard drive is available,
and how much RAM your system contains.
If you buy a program that won't work on
your system, you won't be able to return
it and get your money back once it's been
opened. Checking in advance will protect
you from getting stuck with software you
can't use.
3) Do Your Homework
Any type of business-related purchase
requires careful consideration, so be sure
to investigate before you buy. Explore all
of the software programs available and
find out what other people are saying
about them. Sites like Epinions.com and
CNET.com can provide you with product
feedback from both consumers and
reviewers.
Pay attention to mentions of difficulty
levels since you want a program that is
easy for you to learn and to use. Also,
take advantage of software demos. Nothing
beats a hands-on preview. You should do
some research into the companies'
technical support and customer service as
well. If you ever need help, you want to
know it's readily available.
4) Be Aware Of Costs
Another thing you need to know is how
much you can afford to spend on the
program. The costs for accounting software
run from $30 to $600 or more depending on
the features included.
Knowing what you need and can afford in
advance will prevent you from paying too
much. Shopping around for a particular
program won't do much good, however.
Whether you buy a program online, from an
electronics store, or from a retail
outlet, you'll pay about the same price.
Watch for rebates or special offers,
however, because they can cut your costs
considerably.
Here are a few suggestions if you find
it difficult to identify the right
accounting software program for you:
* Peachtree Accounting 2003
Peachtree is one of the most recognized
names in business accounting. This program
allows you to manage your accounts
receivable, accounts payable, inventory,
payroll, job costing, fixed assets, even
general ledger. Other valuable features
perfect for small or home-based
businesses, such as Internet postage,
credit card service, direct deposit, and
contact management are also included.
This version costs $199.95, but others
are also available. You can learn more
about Peachtree's line of accounting
software at http://www.peachtree.com
* Quicken Home & Business
At $89.95, Quicken Home & Business is
one of the most budget-friendly accounting
programs on the market. Even though its
price is low, its packed with features,
such as creating custom estimates and
invoices, generating business reports,
setting up a Merchant Account, managing
taxes and expenses, and keeping track of
your cash flow.
You can also use the program to
download your transactions and pay your
bills online. Other versions of Quicken
are also available through the company's
web site http://www.quicken.com/quickensw/
* Microsoft Monday 2003 Deluxe &
Business
With this software, you can take care of
most of your accounting needs without
breaking your business's budget. At only
$64.95, the software still comes with a
wide range of features including the
ability to create customized invoices,
estimate tax payments, compare financial
data, balance your checkbook, track cash
flow, and pay your bills. Additional
versions of the the program are available
for sale at http://www.microsoft.com/money
Knowing this useful information will
help you find an accounting program that
will make your job easier, less stressful,
and more efficient.
Vishal P. Rao is the owner of Home
Based Business Opportunities - One of
Internet's leading website dedicated to
starting, managing and marketing a home
based business.
Article Source: http://EzineArticles.com/
Return
to Index
