Choosing an Accounting Software for your New Business
Recently I received the below question on my web-site asking “My dad wants to start a small business. What accounting/bookkeeping software would be appropriate?”
As a general rule I would suggest QuickBooks HOWEVER that is akin to diagnosing a patient without seeing them. Please feel free to give me a call and we can give you a more directive response as you may have very particular needs that need to be addressed in making an informed decision such as:
-Processing of Payroll
-Point of Sale Systems
-Cost of Goods Sales Analysis
Though choosing an accounting package is a important decision, it is frequently less important than:
-Choosing to have an outside payroll service handle all of your payroll processing and reporting needs.
-Choosing the right entity for your business. Frequently business owners will select to be either an LLC or an C Corporation, when an S Corporation might be able to provide an overall lesser tax.
-Setting up a qualified (tax deductible) retirement account for long range and quality of life issues.
Seeking advice for all important business decisions is essential especially as you are rapidly growing or in the start-up phase of your business. So be sure to work with a local CPA about your business tax and reporting needs to help guide and direct you in selecting the right software your business.