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Page 15
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Accounting Packages
Ah, the poor accounting package —
no one gets excited thinking about accounting software (and if you do,
well, I'm sorry but you're a little odd). But your accounting program is
vitally important. As one e-tailer so aptly stated, "this business is
all about numbers." You can't track that ever-important profit and loss
statement with pen and paper (although some small merchants try to, to
their great detriment.)
Again, there are integrated e-commerce platforms that come with their
own accounting package; the advantage is that the accounting software is
integrated with the inventory tracking software — a huge plus.
However, if you're looking for a stand-alone program, the key is
"simplicity," notes Jeff Binder, CEO of Saffron Rouge and an expert in
e-business setup. "You want to buy software that gives you what you need
to grow, but is not incredibly cumbersome to operate."
Specifically, it's important that your accounting package be
upgradeable; as you take on more employees, or more business functions,
your number crunching software must grow with you. What does it cost to
upgrade?
It's worth your while to find out what
package your accountant or tax person uses. If you can simply send them
data in the format they already use, that can lower your tax prep bill.
Be aware that some accounting software companies offer phone support,
for an added fee. This option can be worth its weight in gold if you're
in crunch time and you need information from an expert.
Perhaps the default small business accounting package is QuickBooks,
made by Intuit. "QuickBooks is relatively easy to use — it's a very nice
basic package," Binder notes. Intuit claims that QuickBooks 2006 is a
big step forward from its previous QuickBooks releases.
Microsoft hopes to take a large chunk of Intuit's small business
accounting market share with its new Microsoft Office Small Business
Accounting package. Microsoft's obvious advantage is its accounting
software's interoperability with the existing Office suite. Industry
observers expect the Microsoft accounting app to offer stiff competition
to QuickBooks.
Binder is a big proponent of NetSuite's accounting software, which is
sold on an ASP basis. "I've used it for three years, and I've never used
anything that can compare with it."
But don't stop your shopping with QuickBooks or NetSuite. The list of
well-known packages includes Peachtree, Simply Accounting (both
Peachtree and Simply Accounting are owned by Sage Software, and MYOB.
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Online Money-Making Opportunities
Several Systems to make real money via
Internet
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