Bookkeeping Software

What Sort Of Bookkeeping Software Should I Be Using?

When it comes to record keeping or bookkeeping for your business or company, decent computer software can make the process a lot easier. In the past, most records were kept on paper in a filing cabinet or in files. However, this leaves them susceptible to things like fires and water damages. Physical records can also take up a lot of space, especially after a couple of years.

In the modern age of technology, more and more people are choosing to keep electronic records rather than physical ones. When it comes to doing this, there are a whole lot of different computer programs out there that are designed to make it easier than ever to keep accurate, useful records. Some of the more popular include:

Xero:

Xero is undoubtedly one of the best, if not the best accounting program out there. It is used by small businesses everywhere every single day. Although it was originally designed to be used solely by businesses to keep records, it has recently been upgraded to include functionalities that allow accountants to import a client’s records directly.

One of the main downsides of Xero is its cost. For any sort of decent bookkeeping functionality, you will have to pay upwards of $50 per month, which is understandably out of some people’s price range. However, it does comes with a free trial, so it could be worth testing out before you buy.

MYOB Essentials:

Although it will set you back almost as much as Xero ($25-50 per month), many people choose to use MYOB Essentials as it is the favourite program of many accountants. It allows for most bookkeeping and accounting functionalities, and it is simple and efficient to use.

In the past, MYOB was seen as very difficult to use, and was predominately an accountants tool. However, it has improved now to the point where it rivals Xero in terms of users. The inclusion of cloud accounting features lets you update your records in a manner that is immediately accessible to your accountant.

Reckon One:

Reckon One is known to be extremely user friendly and simple to use. Starting at just $5 per month, it is also one of the cheapest bookkeeping programs out there when it comes to things that will do everything that you need them to. Things like invoice creation, account management, and expense tracking are super easy, and the program is streamlined to allow for fast, simple BAS reporting.


How do I choose a program?

When it comes to choosing the right accounting program for your needs, you need to consider exactly what you are planning on using it for. Speak to your accountant (if you use one) and see if they have any preferred programs. Ultimately, the best thing to do is to sign up for as many free trials as you can to help you decide which programs you prefer using.

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