There are quite a few points you must to look into when choosing accounting software for your business.
#1 Know your industry.
Which industry are you in? Did you know that there are specialized accounting software suitable targeted towards specific industries?
For example, Sage MAS 90 & MAS 200 are targeted towards industries in the field of Manufacturing and Distribution such as Light Manufacturers, Distribution Companies. Distribution durable goods, Professional, consulting & business services, construction sub-contractor, commercial and service, finance, banking and insurance, distribution food and medical, construction general contractor, manufacturing job shop and made to order operations, retail soft goods, manufacturing made for stock operations, most of which fall under the Small and Medium Businesses(SMB).
#2 Whether the software you have selected has all the features you would like to have.
You may want to select particular software but does it have all the features and modules you would like to use? First check out the features of the software and eliminate the ones in which the features are lacking. Note down the merits and demerits of the software.
#3 Is the cost of the software is within your budget or not?
It would be better if you can do a cost analysis on the software you are going to invest in. Does the software really bring you benefits immediately or how much time would it take for you overcome the money you have invested on the software?
#4 Is the software User Friendly?
The software you have chosen may have all the features but is it easy to use. Sit and discuss this with the employees who are going to use this software. Are they comfortable on training on the software and using it ? If not, what is the alternative?
#5 Is the software flexible enough? Can it be customized according to you needs?
If your business is in the growth stage and have plans to expand your business. Can this software be improvised to cater to your future needs? How easy is it for you to customize that particular software for it to serve you in the future?