Choosing the right accounting software is critical. Merely buying accounting software that has GST features is not good enough. Businesses must ensure that the accounting software meets their business requirements. Different types of business require different type of accounting software.
Some of the factors to consider include:
a. features required to support the business such as billing, inventory control, generate the required financial reports, analysis capability etc)
b. technical support by the software vendor
c. ease of use and simplicity (so that staffs can use the software with confidence)
d. flexibility (able to scale as the business grows)
e. brand reputation of the software (how long has the software been around? how many companies are using the software etc)
f. ability of store documents within the software (this will enable easy retrieval of documents for reference or audit purposes)
g. cost of the accounting software (need to balance between cost and features)
Companies must also be aware of "inflated" software price, as reported in the Star newspaper on 2 Jan 2015.
Our opinion was also sought in the article. Here is the excerpt of the article:
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