#27 Are You Wasting Your Money on the Wrong Accounting Software?

In today’s episode, we explore whether you’re wasting money on the wrong accounting software. I give you insight and tips to check if what you’re using is the right software for you.

I know there are spreadsheet users out there, but to grow your business, accounting software is non-negotiable. My personal advice is to use software from the start.

If you’re already on accounting software and feeling like it’s not the best one for you but you’re not sure what you should be looking for, this episode will help!

My practice, Accounted for You, is Xero software only, for lots of personal and business reasons. I explain why, after comparing the usability, features and add-ons, we made the decision to go Xero-only.

As a business owner you need to do the same thing – work out what your business needs and which software you enjoy using.

I run through the considerations you need to weigh up when choosing your software. I discuss considerations to consider including inventory management, complex payroll systems, foreign currency conversion and your bookkeeping skills. Essentially, you need to note down what you need for your business and make sure the software you choose has those things.

Bookkeepers can help you work out the best software for you. I also discuss how, if you’re keen to look after it yourself and are tech-savvy, there is a lot of information available online to work out what’s best for you and your business.

And of course, consider cost as part of your decision-making process, but don’t make that the deciding factor. I explain why the free accounting software doesn’t have the reporting and other features that you need.

Keeping track of your finances can be challenging enough – don’t make it harder than it needs to be. After listening, you’ll feel confident about the importance of good accounting software and how to find the one that works best for you.

LINKS MENTIONED:

Payroll add-ons: Microkeeper  /  Deputy and Wage Easy  /  Keypay

Xero File Setup video

Previously mentioned episode:

Ep #10 – Should you Outsource or DIY your Books

HELPFUL RESOURCES:

Download the FREE P&L Generator here

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Check out my blog here!

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Connect with Lisa Turner:

Instagram: @accountedforyou
Website: https://accountedforyou.com.au/

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