4 Things to Consider Before Purchasing QuickBooks - CFO Source
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4 Things to Consider Before Purchasing QuickBooks

Whether you are just starting out or have been running your business for a while, you’ve probably heard about QuickBooks’ reputation as the leading accounting software. It’s used by business owners and accountants alike, and our Maryland QuickBooks experts at The CFO Source know everything there is to know about it. We’ve helped many people make the switch to QuickBooks and are happy to share a few things you should consider before taking this leap.


Have a Goal in Mind

In order to get the most out of QuickBooks, first you need to determine what you are trying to accomplish by switching to this software. Do you want a more organized bookkeeping? Do you want to give several employees access to the system? Are you in it for detailed reports? Robust accounting software such as QuickBooks can be used to improve your business on many levels by identifying problem areas in your cash flow or other systems. But you have to have a goal in mind in order to select the right version of software for your needs and have it set up for maximum efficiency.

Assess Your Training Needs

There is a learning curve involved in mastering any type of software. And when it comes to your finances, you can’t just guess or assume you are doing things right. Accounting mistakes can be costly. Evaluate your need for QuickBooks training, as well as the needs of your employees who will be using the software. Start looking for a company that can provide such training, as well as help you set up your company profile. If you need QuickBooks training in Maryland, look for a QuickBooks Pro Advisor affiliated with the Maryland Association of CPAs (MACPA).

Decide on the Version

As we mentioned in our first point, there are different version of QuickBooks available. They differ in the range of features they offer, the number of reports you can generate, as well as the number of people who can access the software. However, even before you start analyzing the features, you need to decide between a desktop and an online version. To keep up with the times and with the demand for cloud-based services, QuickBooks has launched QuickBooks Online, a platform you can access from any internet-connected device. There are pros and cons to both the desktop and the online versions, so it might be worth to contact a company that offers QuickBooks consulting services.

Set a Realistic Timeline

As you probably realized by now, switching to QuickBooks is not exactly a walk in the park. It requires time, patience and commitment. Don’t expect to buy the software and have your business fully switched to QuickBooks the same day. Set realistic timelines for installation, setup and initial training. Keep in mind that it might take a while for you to grow into an advanced QuickBooks user. This platform is so rich in features and the types of data it aggregates that there is always a new trick or technique to learn.

And if you have problems or questions at any point in your journey from choosing the right QuickBooks platform to improving your financial situation, feel free to give The CFO Source a call or contact us online.


What Our Clients Say...

"We struggled for several years with high turnover in our bookkeeper position, which resulted in missed billings and duplicate payments. Craig Kershaw was able to locate a high caliber person who quickly took over the accounting and is now helping to expand the business into new markets. I no longer worry about whether my accounting is being done properly."

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