Which Accounting Software is Right for You?
As a general rule of thumb, I’d say the more tailored and specific your business is, the more specialised your software solution should be.
That said, there are a number of different solutions on the market that cater for all kinds of businesses, as well as businesses at all levels of growth. The most common options are: FreshBooks, Sage, QuickBooks, Zoho Books….
Based on my research and review,
I find the following options good enough for small business in South Africa ✅:
List of Best Accounting Software for Small Business South Africa
- FreshBooks
- Zoho Books
- Sage Accounting
- QuickBooks
- Myob
- Pabbly
- Wave
7 Things to Consider when Choosing Small Business Accounting Software South Africa
The core of what you do can with a specific accounting system often determine which business accounting software is best for your company.
Most importantly Look for the features offered vs. what you need.
The wrong software can make it difficult to keep track of your finances, which can lead to costly mistakes and even legal issues. Also, switching all your records from one system to another often doesn’t work that seamlessly.
So to figure out the right one for your business, sign up to a few choices on a free trial, and play around with them until you are comfortable with one. Here are good accounting software you can try out for free:
1. Does your business need a Cloud Based or Desktop Software?
The answer to whether or not your business needs a cloud-based or desktop accounting software depends on the type of business you run. The two types of accounting software are very different, and they both have advantages and disadvantages.
- 1. Cloud-Based Accounting Software is online based and accessed through an internet browser. You simply log in from any computer or mobile device with an internet connection, and all of your data is available to you.
This can be convenient for businesses that have employees who work remotely or for people who travel frequently (or most dynamic and self reliant entrepreneurs), but it does mean that you need to have reliable internet access wherever you go in order to use the software effectively.
- 2. Desktop Accounting Software requires installation on your computer, but once it’s installed, it will run locally on your machine without requiring access over the web.
This means that if you don’t have access to WiFi or a good cellular signal while you’re traveling, you won’t be able to use your accounting software until you get back home again—but it also means that it doesn’t require any sort of ongoing subscription fee like cloud-based solutions do!
- Zoho Books
- FreshBooks
- Sage Accounting
- Myob
- QuickBooks
- Pabbly
- Wave
- Sage 50cloud
- Freshbooks
- QuickBooks Enterprise
- AccountEdge
- ZorroSign
- Dancing Numbers
- HR Trace
- Transaction Pro
- Hubble
- Spire
2. Consider How Big Your Business Is
When choosing an accounting software, it’s important to consider how big your business is. Will you be able to use all the features of the software that comes with your package?
If you are a small business and are just beginning to grow, it is important to look for accounting software that offers features that can grow with your needs. Some features may be necessary for small businesses and others may not be needed until the business grows larger.
For example, if you want to manage multiple locations or employees then you will need to look for accounting software that has those features available at no extra cost.
If not, then you may have to purchase an add-on which may cost more money than what it would have cost if the feature was included in the original package.
3. Budget
Accounting software can be a great tool for small businesses, but it can also cost you thousands of Rands.
Before you invest in accounting software, make sure you have a good idea of what features you need and how much money you’re willing to spend on them.
You may be able to get by with free or low-cost options, but if you want more features, you may need to pay for a premium package.
Some of the most popular accounting software packages are QuickBooks Online and Xero. Both packages offer free trials so that you can try them out before committing. Here are some more options with associated monthly fees.
Best Accounting Software for Budget
3. Integration with Other Business Software
When choosing an accounting software for your small business, it’s important to consider how well it integrates with the other business software you use.
For example, if you use QuickBooks to keep track of your finances but also use Google Drive for email and collaboration, then you’ll want to make sure that the accounting software you choose can integrate with both of these services. Likewise to your store platform, Point of Sale software etc.
In addition to being compatible with other business tools and programs, it’s also important that the accounting software is compatible with your operating system.
If you’re using a Mac computer and an iPhone/iPad, then it’s important to make sure that the accounting software can be used on a Mac OS platform and the Apps for that software are available on the Apple App’s store.
Likewise, if you use Windows computers exclusively, then make sure that the accounting software is available for Windows operating systems and you can also install them on your smartphone/tablet.
4. Level of Customer Support and Ratings
When choosing an accounting software for your small business, Customer support is especially important when you’re just starting out with your new software.
If you struggle to figure out something on your own. You’ll want someone from that software company to always be available to answer your questions, help you get set up, and make sure that everything is working properly.
The best way to find out about a company’s customer support reputation is by looking at their online reviews.
Here, I’ve gathered a summary of all the online reviews on some of best accounting software providers:
5. Training and Guides Provided
When choosing an accounting system for your small business, it’s important to consider the training that comes with the software.
The best accounting systems will provide training on:
- Accounting, in general. This will help you understand what you’re doing and why you’re doing it, which is essential when you’re getting started in bookkeeping and accounting.
- Bookkeeping specifically, so that you can get up to speed quickly on how to use the software and provide high-quality service to your clients.
6. Currencies Supported
Before you choose an accounting software, consider the currencies supported. If you don’t use the same currency as your clients, it can be easy to lose money by not having the right accounting software in place.
7. System Security
When you are choosing accounting software, it’s important to consider how secure the system is. If your business is very small, you may not have a lot of sensitive information that needs to be kept safe and secure.
However, if you have a lot of financial data or other information that needs to be kept private, then you need to make sure that the software can keep it safe from hackers and any other threats.
Final Takeaways
That’s a lot to think about when choosing accounting software, but it should aid you in your decision-making process.
Be sure to try out each solution out for yourself first and see which one you like best. You shouldn’t expect a perfect match or the end-all-be-all of solutions. As with most things in life, you’ll come across some pros and cons to every option.
Ultimately though, whatever solution you go with will be worth it in the end if it helps your business small business thrive.
- FreshBooks
- Zoho Books
- Sage Accounting
- QuickBooks
- Myob
- Pabbly
- Wave
