Introduction: Accounting software allows small business owners the capability to manage all of their business’s financial transactions. There are many different types of accounting software packages for a small business to consider and invest in with various advantages and disadvantages. Selecting the most appropriate accounting software can be one of the most important decisions a small business must make. Almost all accounting software packages will deliver simple bookkeeping while other accounting systems may have the capability to manage much more with the scalability to expand. Understanding accounting software and the full functionality thereof can contribute to the overall success of a small business over and above minimization of costly bookkeeping mistakes.
Step 1: Introduction
Begin with an introductory paragraph that describes how accounting software can be used to track business finances and contribute to the quality of record keeping management.
Explain what must be taken into consideration when selecting such software.
Step 2: Research and Content
Research the Internet and identify three accounting software packages that you would consider for a small business.
Explain what must be taken into consideration when selecting small business accounting software
Follow-up with multi-paragraph responses for each accounting software package (advantages and disadvantages)
Document if the accounting software packages selected can or cannot be used as a strategic business management tool (historical data, reporting, forecasting, etc.)
Compare and contrast the three software accounting software you have selected with a focus on record management.
Step 3: Conclusion Summary
For the conclusion paragraph state why the quality of record keeping is so important and can be used to track business finances for accurate record keeping. Highlight the key discovery of your accounting software research. Conclude with a statement how accounting software can be leveraged as an effective strategic business management tool.