5 Checklist to Consider: How to Evaluate Accounting Software before Buying?

5 Checklist to Consider: How to Evaluate Accounting Software before Buying?

How to Evaluate Accounting Software

Published: 09/8/21

The accounting system of any business represents the collection, storage, and information process. The organization’s main goal is to use an accounting system that fits all financial purposes. However, it is hard to evaluate the accounting software that the company plans to use. Why? What’s best for your competitors may not always work in your favor. As the organizational work culture progresses, certain changes will occur that affect your plans for the accounting system too. 

So what you need is accounting software that works for you in the long run, no matter the size of your company. 

But for many, it can be a confusing thought. In this article, you will find ways how to evaluate your accounting software before you pick one that will help your business in its prosperity and growth. 

Evaluation Checklist

Checklist About How to Evaluate Accounting Software for Businesses 

My CPA Dashboard is one of the professional accounting software that works for all businesses despite their size. 

As the service provider, we do understand that choosing the accounting software is a critical moment for businesses. The fate of entrepreneurs and new start-ups relies heavily on the technology used for growth and sustainability

Choosing the accounting software is a BIG decision. 

The good news: there are factors you need to look out for. By learning these factors you will understand how to evaluate accounting software in a better way. 

  1. Generating Reports 

One of the most crucial aspects of any accounting software evaluation is related to the reports. The basic factors to evaluate is about; 

    • How much data is entered manually vs how much data is extracted by the software
    • Availability of type of report formats vs availability of customized formats 
    • Does accounting software generate a graphical report with text and what types of graphs can be generated?
    • Does it allow the report analysis
    • Is it easy to change the report with updates and changes? Etc. 
What My CPA Dashboard Offers 

Report generation is one of the accumulated features offered to clients. Accountants and bookkeepers are free to generate a fully custom report with the right information. 

The reports can be generated bi-weekly, bi-monthly or quarterly, according to the work schedule and client’s demand. The reports are arranged in chronological order (date-wise) so that it is easy to find them in the folders. 

Business Processes

  1. Internal Business Process 

It is important to learn how much the internal business process is dependent on the accounting system. For accounting software evaluation you need to learn its limitations as well. 

Compare the two – the internal business process and the accounting software required. 

    • Has your business grown with time? What will be the potential growth using the accounting software? 
    • Is your existing internal business process working at its full efficiency? How much of a gap can be eliminated with the help of software? 
    • Does your business have excessive paperwork? How much of it can be reduced by the accounting software? 
    • Does each department use a different process? Would the software be used for standard department use as well?
What My CPA Dashboard Offers 

Stability in the business processes is another crucial feature of My CPA Dashboard. The accounting software is not only limited to generating financial reports but also is useful in tracking and work task automation that helps improve each department’s work quality. 

When learning about how to evaluate accounting software you will gather an easy user experience, even for non-technical users. It will help the accounts to collaborate with a team of other departments as well. 

  1. Functional Features 

The features of every accounting software will vary. Some offer highly incredible customer support while some have easy-to-use interfaces. Now every feature installed in the software performs a specific function. 

The more featured modules are offered in the software, the more tasks can be performed. Each module needs to be evaluated individually. 

So how to evaluate accounting software based on these modules? Keep the following list in mind. 

    • Does the accounting software provide the functional features you need? 
    • Is the software updated? 
    • Do you require any custom-built features for your work? 
    • Will you need extensive training for employees to use all functions with expertise?
What My CPA Dashboard Offers 

The best part of using this accounting software is that My CPA Dashboard is popular for its easy dashboard use. 

What does this mean? 

The accountants, bookkeepers, and CPAs do not need to have the technical expertise to use My CPA Dashboard. 

Due to easy to understand and easy to functioning modules, the user does NOT require any extensive training. A short demo available on the website will let you learn about the major features and how to use them. 

Integrated Systems

  1. Integrated System 

It is necessary for accounting software evaluation to be based on the integration as well. Each software is best known for its functionality. Each software also has its limitations due to which data is entered manually multiple times. 

It affects work efficiency. The more manual information is added the more time taking tasks will become. 

When all business processes are streamlined, it demands software integration. Some of the valuable aspects of system integration include; 

    • Does an accountant need to use different software to compile a final report using accounting software? 
    • Does the software offer an “export” option or does data need to be entered manually?
    • Is your data available on the desktop or cloud storage? 
    • What is the main priority; save time or integrate the software with other applications? 
What My CPA Dashboard Offers 

The complexities of work automation and data enrollment are real. They do exist. With the help of My CPA Dashboard, you can streamline the business process. It helps the user to avoid using various software to pile up financial information.

Work task automation, billing, and plans, payrolls and tax preps, etc all are integrated within each feature. The accountant does not have to rely on other software to use My CPA Dashboard. 

Cloud-based storage offers to eliminates the need to save financial data on a desktop. Because of this feature, the high risk of a breach in information and documents is eliminated. 

Software Pricing

  1. Cost of Software 

The last but not the least factor for accounting software evaluation is based on the cost. The total cost of ownership (TCO) is most recommended as the analytical tool to evaluate software and learn whether it needs replacement or not. 

Usually, the TCOs are time-consuming, and also lack solid information which makes them hard to qualify. 

So you must consider the following factors to evaluate the cost of using accounting software. 

    • What is the software license? 
    • How much does the installation, configuration, training, and documentation cost?
    • Does the software offer future updated features?
    • What is the best pricing plan for the accounting software?
What My CPA Dashboard Offers 

When you want budget-oriented accounting software, My CPA Dashboard fulfills all necessary criteria. The pricing plans are created keeping the client’s budget and demands in mind. The offered pricing plans are competitive and therefore allow you to handle a varying number of accounts for various clients using the same dashboard interface. 

Accountants, even if they freelance, can benefit from using the basic package. All users are welcome to try the 30-days free trial to ensure they make the right choice. 


Evaluating accounting software is a must. You can always switch from one choice to another real quick but before doing that, it’s best to learn in detail about the accounting software’s features. 


My CPA Dashboard brings the current market needs and demands under a one-stop solution for the accountants. Users can evaluate My CPA Dashboard with the first-hand experience. Today’s financial management is going digital, so this is another chance for you to upgrade your accounting system.

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