Are you thinking about changing your accounting software? What are your reasons for thinking that this is needed at this point in time? Usually, businesses would need to sometimes change the software that they are using and there can be many different reasons for this.

However, when you are migrating you need to be sure that you have analysed the need to do so in the correct way so that you are making an accurate and informed decision. Here are some of the main reasons as to why you may have to change your accounting software.

Your Bank Does Not Support the Software That You Use

If your bank does not support the accounting software that you are currently using, it could mean that you will have some challenges. Being able to download the transactions from your bank via your accounting software when they support it is really helpful and will help save you a lot of time. So, if this facility is not available, you may have to speak with your bank and change to a software that works with both them and you well.

What Are the Costs That Are Incurred?

You may have to think of something like convert MYOB to xero if you want to factor in the costs incurred for the software. This can actually go both ways. You may have more money in hand and would be looking at investing a little bit more as you feel that the business will need it.

On the other hand, if business has been slow, you may be looking to cut down on support and overhead costs and trying to move to something a little more affordable. In either case, make sure that you do not compromise on quality and that you also get the complete set of functions and features that you need.

How Reliable Is the Security Factor?

This is something that you really need to think about. Access will need to be restricted for some users if more than one person in your business is using the software. One or a few people may need complete access to the software but on the other hand, others will not really need access to all of it. If that happens to be the case, you may need to see if your accounting software will give you the facility of restricting access for some users so that you can define who gets what level of access. This will help keep security in place as well.

Consultations with Your Accountant

One of the other factors that would primarily cause you to think about making this change, would be if your accountant actively told you that you need to think about this. Since they are the personnel who work the most with the system, they will be in the best position to advise you on how and what needs a change and that could give you all the right insights to make this call.