Alas 2006 is upon us! Time for your businesses to spring out of the blocks with your best foot forward and turn those creative ideas into new product and/or service offerings. The New Year brings about a time of change for the small business owner and this may be a good time to see if you are getting the most out of your small business accounting software investments. Your accounting software plays an integral role in your profitability and in the growth of your business as a whole. This is why it may be a good time to see if you have outgrown your small business software and need to move to the next level – “Mid Range Accounting” software.
Entry level packages provide the small business owner with all the necessary tools they may need to track expenses and invoice clients. They also give the small business owner insightful reports to make business decisions. These systems are good for small business owners that typically enter the data themselves or have a part-time bookkeeper to assist them. However what if your small business has recently experienced unprecedented growth and there is more information to enter. The small business owner may need to hire additional staff and the number of transactions within your existing small business software may be too much for the software to handle. This is where mid-range accounting software may make your operations more efficient.
Mid-range accounting software is typically for small businesses that have 25 or more users that need simultaneous access to financial information. It also provides the small business owner with more detailed analysis features, dashboard snapshots, and continuous updates as changes are made within the system. Most mid-range accounting systems are “modular” in nature meaning that they are purchased in parts or modules. The most basic modular system typically includes a company manager, general ledger, accounts payable, account receivable, and payroll. The more robust modules will include inventory tracking, CRM, and web capability. Mid-range accounting software does not require a total technology overhaul either. Many software packages can be run on your existing client/server configurations and this will definitely be a relief to your IT department or IT consultant.
Take a look at the following options if you are in the market for a mid-range accounting software platform:
Cougar Mountain Accounting 10
Quickbooks Enterprise Solutions 6.0
Turning Point 4.0
Sage Business Vision V. 7 & Sage BusinessWorks 6
To Your Prosperity
Brian N. Stovall
Consultant – Accounting & Business Advisory
The Brico Group, Inc.