Why is the risk of outdated accounting software so important?
In the late 1980s credit crunch, the main reason contributing to business failure was inadequate financial systems. Being complacent about accounting software in the current economic climate could also result in many businesses experiencing a downturn in their own activities. 4. How do you fix the problem? MYOB and Quickbooks are suitable for very small business operators. However, if your business has doubled or tripled in revenue since Y2K or the introduction of GST, then it is likely that you are not receiving the most current business reports available and that your business has outgrown off-the-shelf packages such as MYOB, QuickBooks and old DOS-based software. In the past, the only next step available to businesses was expensive SQL-based packages such as SAP B1, Microsoft Dynamics and Exonet. Mid-market accounting software packages – typically suited to businesses with three or more network users up to 100 network users – have resolved this gap and are recommended for growing sm
