Help with choosing the right accounting software


With so many options and feature sets to choose from, selecting the right accounting solution can quickly become an overwhelming task, according to Software Advice, a resource for software buyers by Gartner, an international information technology research and advisory company.

“Most small businesses will want to consider cloud-based accounting solutions. Because these systems are hosted online by the vendor, they eliminate the need for you to have a dedicated IT team for managing and maintaining your own server. Conversely, an ‘on-premise’ deployment means the software is hosted locally, on your company’s own servers (which you are responsible for maintaining), says the company on its website, where it also offers reviews on available accounting software.

“Choosing a web-based system drastically reduces upfront investment and installation costs. In addition, these systems typically offer monthly subscription pricing, which makes them scale well for fast-growing companies that need to add additional user licenses or features down the road. On-premise systems, on the other hand, come with a steeper, one-time fee to use the software in perpetuity.

“At present, some businesses may still see savings with an on-premise system, especially if they already have the necessary hardware to host the software on-site. While on-premise solutions usually require purchasing an expensive perpetual license up front, this may still be the cheaper option if you use the same system over an extended period of time. However, keep in mind that with on-premise solutions, you might also pay additionally for upgrades, customizations and maintenance.”

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