4 out of 5 people get lost while searching for the most suitable accounting program for financial management within their companies. Do you know why? 🤔

Simply because they do not choose the accounting program according to the criteria that we will talk about in this article; and thus they are surprised that they are facing a big problem and a waste of their money in a financial accounting program that does not meet the needs of their companies and institutions.

In this new article on our blog, we will convey to you the experiences of officials and business owners like you who have succeeded in choosing the most suitable accounting program for the needs of their companies according to specific criteria.

What are the criteria for choosing the most suitable accounting program for any company?
There is a major challenge facing many business owners and decision makers within various companies and institutions, which is choosing the accounting program that meets the needs of the institution in an ideal way. Therefore, the choice must be based on basic criteria and attention to several indispensable factors. Here are some proven procedures and tactics that can help you choose the best:

Define your business needs
A basic and pivotal step before searching for programs, which is to accurately determine what you need in the accounting program. Or more precisely, what your business needs from the software that will take over the financial management completely.

For example, do you need a financial system that can manage invoices, salaries, and track expenses? Or do you need a more complex and comprehensive program that covers tax management and advanced financial analysis?

The more clearly and accurately you define your needs and the needs of your business, the easier and faster it will be to choose the program.

Consider the size of the company or organization
The size of the company is one of the most important factors that control the choice of accounting software; because the size of the company is what controls the needs of the business and the needs of financial management in particular.

For example, small companies and businesses may need basic accounting programs such as QuickBooks or Fekra POS or Zoho Books, while the type of programs that large companies need varies depending on their somewhat complex needs; therefore, they resort to more advanced and comprehensive programs such as Fekra ERP or SAP and other large and advanced accounting programs.

Ease of connection and integration with other systems
In today's digital transformation era, companies of all sizes need to connect all their systems to facilitate automatic synchronization and sharing of data quickly, easily and securely. Accordingly, you must ensure that the accounting software you may choose supports easy connection and integration with other business systems, such as human resources management systems, inventory management, customer relationship management, enterprise resource planning and management, and other systems.

Technical support and continuous system updates
Software generally needs continuous system updates, especially with technological developments and the development and growth of companies and thus the continuous change in their needs. Therefore, look for an accounting program from a service provider that provides good technical support around the clock and continuous system updates. A company that provides strong support will help you solve any problems you encounter quickly, and system updates mean that you will always have the latest technologies and accounting standards.

Ease of use
Look for an easy-to-use accounting program that does not require users to have programming experience or specific technical skills to benefit from and use the program. In addition, make sure that the program supports a clear user interface, especially if you do not have a team specialized in financial accounting. Software that is easy to use and has a simple and clear user interface can facilitate your financial operations, enhance your team’s productivity, and save a lot of time and effort.

Data Security, Integrity, and Reliability
Security and reliability are at the top of financial management’s priorities; because they deal with sensitive and very important data and information; therefore, you cannot ignore an element like this. According to this criterion, you must ensure that the accounting program provides high security standards to protect your sensitive data from any breach or loss. Cloud-based accounting programs provide high levels of security, but you must ensure the reputation of the service provider.

Cost and Budget
Cost is a very important criterion compared to the rest of the criteria we explained; therefore, do not forget to consider the cost of the program. Make sure that the program you choose fits your company’s budget and provides value for money. While searching for the best accounting programs, you will find that some of them offer flexible payment plans, such as monthly or annual payments.

In this regard, you must clearly determine the budget that your company can afford to purchase a professional financial accounting system.

Compliance with international standards and compliance with local legal and tax regulations

Absolutely and categorically avoid managing the finances of your organization, company or whatever your business is through a financial accounting program that does not comply with international financial accounting standards, and is not compatible with the legal and tax regulations in the country in which you operate. This will protect your business from committing financial violations and imposing severe penalties on your company or organization that will incur huge losses and may even lead to the closure of your company and the suspension of its work forever.

So be very careful in this part and make sure of this matter categorically.

And know that regulations and laws differ from one country to another and from one province to another; so make sure that the accounting system you use or will choose is compatible with the laws and taxes of this country.

Free Trial
A final very important criterion that ensures that you do not waste money on an accounting program that is not suitable or appropriate for your company's financial needs, is the free trial of the program before subscribing or purchasing and contracting.

In general, before committing to purchasing a specific program, try to take advantage of the free trial periods offered by many companies. Most software companies offer a free trial period of up to 14 days for their software in order to effectively test the system and make sure it is suitable.