When to Consider a New Accounting System?

March 4, 2022

Whether you run an accountancy firm or are an SME who handles their own books, the thought of changing accounting software can seem a little daunting. Maybe you have used your existing system for so long that you can’t imagine another- even if it does not meet demands as your business grows.

Knowing when is the right time to look into new accounting software is simpler than you may think. Like all business decisions involving an investment, the most critical factor is to weigh up what it will cost you to do it and what it could cost you if you don’t!

Questions to Ask Yourself

Is Your Accounting Software Up to Date?

Your previous accounting system may have been all the rage when you first implemented it, but software ages rapidly. Outdated software can create serious issues for accountant businesses or independent SMEs. Review the functionality of the program you currently use and take note of where it fails and what the potential downsides could be.

Are You Working to the Maximum Potential with the Current System?

New accounting system implementation could overhaul your entire business. If your standard system procedures are dated or limited, it could hold you back from reaching your business best. You may be struggling with the current data management, handling reports, or having enough time to complete your daily tasks. 

Can the Accounting Systems You Use Now Handle Your Existing Data Entry Needs?

The importance of data migration in an accounting system is paramount. Financial reporting relies heavily on the imported data from all accounts having a stable input platform. If things get overloaded, it can lead to inaccuracies and sub-optimal performance.

Take into consideration how much data you handle in an average month and determine if your current accounting systems can support it all. If not, a new system is the best solution.

Top Choices for a New Accounting System: NetSuite vs. QuickBooks

If you are ready to move to a new system, these two systems are worth a look. Both are excellent potential providers and are definitely two of the better systems on the market. Here are a few of the best points of each.

NetSuite

• Manage everything from inventories to enterprise resource planning all in one place.
• Work with a NetSuite Experience Manager to ensure you get the best setup for you.
• Handle all transactional, source, and historical data in one streamlined, user-friendly interface.
• There is a cloud-based program available for easy data storage.
• Larger organizations have no trouble working with NetSuite as an implementation partner because of its high capacity.
• Analytics and reporting are highlights of the software.

QuickBooks

• Manage open invoices with ease.
• The QuickBooks customer support is excellent.
• Collaborative teams can share resources, data, and transactions in an open shared platform.
• The application syncs and downloads everything every night, so you never need to worry about losing the database.
• It is more affordable than NetSuite.
• Accountants love QuickBooks and the services it offers.

Either of these programs would be an excellent addition for anyone looking to move forward with their accounting software conversion plan.

Investing In a New System Is Investing In Your Future

Suppose your current accounting system does not lend itself fully to your everyday business operations and is not optimized to make data conversion a priority. In that case, it could be time for some new software.

New accounting software does more than just make your life easier: it also makes for more compliant and productive business processes and supports your company’s growth.

Say goodbye to the old system that could be holding you back and invest in accounting solutions that meet your requirements and can enhance the way you operate.

About SaaSDirect

SaaS Direct is a multi-award-winning official QuickBooks Service Provider (QSP) in the US and Canada. A leader in data conversions with 20+ years of experience with clients across North America, Asia-Pacific, Europe & the Middle East. We move data error-free with zero downtime across 50+ major accounting systems and ERP. Talk to us regarding your data conversion needs for a session of expert advice.