Accounting software is designed to save you time and to make your life easier, not harder. The more automation offered, the better. What features and automations are on your wishlist? What extras would you add if possible? You might want auto invoicing either single or in a batch at any time of the month (not just month-end). As well as bank imports and auto bank reconciliations.
When you decide to change your current way of doing your books, you need to know why you are looking to change. Is it because your current system does not help you achieve your goals? Are you relying on old technology? Maybe your firm has grown so much that an excel sheet does not do what you require from it any longer.
Think carefully about what does not work for you and make a list of what isn’t working. This will be a good start when choosing new software.
When you understand what is working and what is not, you will be able to choose new software.
What features do you need to achieve the goals you set out for your firm? Herewith a list of features you might need:
And the list goes on.
Most legal accounting options in South Africa is based on a monthly rental agreement. When choosing your option, make sure it includes updates and support. Monthly rental agreements vary from vendor to vendor. Cheaper is not always better and the same applies to the more expensive options. Look at the options on offer and decide what you require for your firm. Also, remember, the software must grow with your firm.
Decide what your needs are. When deciding to go with the cloud-based option, remember that the speed is depending on your internet speed.
Some of the vendors offer integration into other software products. If you require any integrations, ask them if they can do the integration.
Now that you have your list of requirements, you need to ask the software vendor the following questions:
It must have a double-entry system. This ensures that all entries are debited and credited in the same transaction. It must be designed for legal firms.
Trial balance, Income & expenditure reports, Trust surplus reports etc.
Client balances, ageing reports etc.
If it does not, it is not a product designed for legal firms. When using an off the shelf product, it will require more time to ensure your trust and business side is in order.
Bank imports. Integrations with other software products.
There should be no hidden costs
How are backups done?
Call the clients on the vendor’s website for a referral
Will I get support when I need it? How long does a support call take?
Updates are required to ensure you get access to all the new features on offer
Did you like the way the product looked when you saw a demonstration?
A manual task is automated.
The most important aspect when choosing accounting software, is this, do you like using the software? If you don’t like it, you will not use it.
When you test the software, ask yourself the following questions:
It all comes down to what you like and what will work best for your firm.
Call us on 083 395 8271 or visit our website at www.quantim.co.za. We can offer all of the above and more.