A recent Wall Street blog post pooh-poohing Microsoft’s 0% financing for Dynamics accounting software left out one key point: Those not qualifying for 0% may still find themselves a sweet deal.

The post notes, “If free money in the middle of a credit crisis sounds too good to be true, that’s because it probably is. Only qualified customers will get 0% financing and, as a Microsoft spokeswoman tells us, ‘the guidelines are pretty stringent.’”

Even if sweet interest rates aren’t in the offing, there are still the Economic Stimulus Act incentives that effectively can reduce the purchase price by double digits.

But, here’s the most important point of all: While we all want to save money in a down economy, it’s important to get the accounting software that will serve your needs—deal or no deal.

If your buying decision for any accounting system software ultimately hinges on the type of deal you can negotiate, you’re buying it for the wrong reasons. Accounting software is too important to a company’s continued operation to be evaluated on the “sweetness of low price.”

That said, there are deals to be found on Microsoft Dynamics® GP and SL accounting software. Just like everyone else, Microsoft is trying to move product. As the WSJ blog added, “…this is just a hook to get people to consider buying software at a time when they might otherwise delay purchases.”

Before comparing prices, incentives and perks, first vet accounting software to qualify potential accounting solutions for your company’s immediate and future needs. Once you’ve identified one or more accounting solutions that can meet your needs, then—and only then—see what kind of deal you can negotiate.

Making the wrong accounting software decision inevitably will cost your company much more than any savings effected by sweet financing or other inducements. Those costs, ultimately, will make that sweet price turn sour.

Score a win-win: First and foremost, decide to buy software that will best serve your needs. Then, and only then, negotiate your best deal.

Decisions, decisions. When the economy’s down, stress goes up. What better way to alleviate all that tension than endlessly examining and evaluating potential business solutions?

It’s a great way to pass the time, and gives the thinker a productive diversion from negative Wall Street and Main Street reports. “I’m not just sitting in limbo. I’m carefully considering all the options, to make the best buying decision in these tough times,” the analyst will rationalize.

Careful evaluation and in-depth investigation is healthy and responsible. Never-ending decision-making is analysis paralysis—a malady that’s cropping up more frequently as economic conditions go down.

In many ways, analysis paralysis is worse than downsizing. As Theodore Roosevelt said so eloquently, “In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing.”

Be incisive, then be decisive. Especially when it comes to accounting solutions, you don’t want to make the wrong decision. But doing nothing may lead to your undoing. Here are some ways to help drive effective decision-making about accounting system software in these decidedly unclear times:

1. Set an accounting system software decision deadline at the outset. Put yourself on a specific timeline, and stick with it. Don’t be arbitrary with setting the deadline. Make sure you give yourself enough time to complete a careful accounting services evaluation; just don’t set the deadline so far forward that it disappears amid all the other important issues.

2. Establish your “wish list” of accounting services. Give yourself a finite, concrete list of prospective accounting solutions at the outset. Along with a timeline, this will help define your responsibilities—and minimize the possibility of accounting software analysis paralysis.

3. Give yourself an accounting software “allowance.” As a starting point, find the “book rates” for accounting system software that you’re considering, then establish your top tolerance for pricing. For example, if you’re considering Microsoft Dynamics® GP, first get pricing from Microsoft and/or a Microsoft partner. Once you’ve figured out what you’re willing to budget, then you can start shopping for deals. And, believe, me they’re out there.

By putting some form around the accounting software search at the beginning, you can come much closer to assuring yourself of a happy ending.

As a rule, company decision-makers aim to do business with those they like and trust. The issue of trust encompasses a sense of honesty, ability to deliver on commitments, and security.

A bad economy tends to exacerbate problems in trust areas. Normally reliable companies may react fearfully, and unpredictably, in turn driving dishonesty to cover up both actual and perceived weaknesses.

Also, faltering financial strength can render companies incapable of following through on their commitments.

Companies concerned about cash flow may settle for more elementary online security protection—potentially exposing confidential client data to intruders.

How can you help create and maintain trust in these challenging times? One “bedrock” showpiece that establishes trustworthiness can be your accounting system software. Here’s why:

1. Accounting software that meets—or optimally exceeds—established norms helps reassure a prospective client that you mean business, and mean to stay in business. The fact that you’ve invested in top-drawer accounting system software makes a statement about your company being first class and committed to first-class infrastructure.

You may be wise to consider buying software more advanced than currently needed—a system to “grow into” as your company expands. So, instead of QuickBooks® or QuickBooks upgrade, de facto choices of many small businesses (and therefore not particularly noteworthy), consider such mid-market accounting solutions as Microsoft Dynamics GP or SL.

In addition to providing a highly competent infrastructure, such mid-market accounting solutions also offer multi-level security versus the more entry-level measures offered by such programs as QuickBooks.

2. Accounting software that interacts seamlessly with other applications, such as Customer Relationship Management, further makes a case for competence and accuracy. Apprising a prospect of supply chain continuity helps address many common questions from prospective clients.

3. Accounting software choice makes a strong statement to would-be clients about your overall business philosophy. If your company doesn’t cut corners in its choice of this most important of company systems, it establishes a sense that you will perform at a high level in other business dealings.

While initial investment in highly robust and scalable accounting software may be higher than that for entry-level applications its use as a business development tool—in addition to a financial tool—can make up the difference in no time at all.

Software-as-a-Service (SaaS) is gaining accounting software traction as an affordable, easily maintained, and easily upgraded web-based alternative to on-site server accounting solutions. It’s also referred to as “Cloud Computing.”

With SaaS accounting solutions, your data resides on the provider’s designated server, and it’s typically a pay-as-you-go service set up as a subscription.

Since it’s hosted, you don’t need to purchase the server. All maintenance, including regular backups, and upgrades are included—lessening internal IT needs and overhead. For these reasons, SaaS accounting services can be economically attractive, particularly to companies impacted by the economic downturn.

Plus, timely accounting software upgrades help ensure staying on top of the latest regulations and financial requirements.

Following are other key issues to investigate if considering SaaS accounting solutions:

Provider stability and track record. You don’t want your SaaS vendor going out of business with your data residing irretrievably on its server. Make sure to find out how the provider backs up its primary storage systems in the event of a catastrophic event—whether act of nature or business failure.

Security. In addition to baseline security, check out what additional layers of security are available to meet your requirements. If there’s a fit, buy just what you need—no more, no less.

Service Level Agreement (SLA). Make sure that the SLA offers adequate uptime and transaction speed provisions, as well as addressing other issues that your company considers critical. Don’t leave anything of major importance to chance. If it’s covered in the SLA, you have recourse; if not, you don’t.

Accounting services options. Build in a level of SaaS redundancy. Ask such questions as, “Do they offer a hardware option if you want it?” and, “In a pinch, how easy is it for you to get your information?” Ask these questions even if they’re covered in the SLA, then compare answers to make sure they line up. If not, find out why.

Ability to customize. Traditionally, SaaS accounting solutions have been more suited to out-of-the-box than highly customized applications. That is changing as the industry evolves. Confirm that the level of customization you need is currently offered, and determine what additional levels are being developed.

Scalability. As your business grows, how robust will the SaaS accounting services be? Can the hosted application support adequate numbers of concurrent users? What options exist for backup in the event it cannot?

SaaS accounting solutions are growing rapidly, and merit serious consideration—as long as they’re keeping up with your needs now, and as you grow.

As Dorothy discovered in the Wizard of Oz, who’s behind the curtain doesn’t necessarily match up with all the grand displays and promises.

This is particularly poignant as we watch such behemoths as CitiGroup trim 50,000-plus jobs from the roster.

When vetting new and improved accounting solutions, make sure the company you’re looking at can sustain itself and its products for the long-haul. Otherwise, you could wind up buying the world’s best accounting software—only to discover later that ongoing support, upgrades and advances have stopped dead in their tracks.

Given current economic volatility, who can you trust long-term to provide both the best accounting solutions and sustainability? Following are some ways to help answer “here today, here tomorrow” questions:

1. Look at company presence as a future predictor. Bluntly put, Microsoft is unlikely to go out of business—even under the worst of circumstances. It’s ubiquitous and has myriad resources to shore up problem areas. Not to put too fine a point on it, but Bill Gates alone has financial wherewithal to solve many of Microsoft’s future financial challenges. Even though he’s stepped away from a day-to-day role, don’t for a minute believe he would let the company he built get torn down.

Microsoft’s staying power is unusual. Look at any company’s accounting software in a similar light, and determine just how much of an economic storm they can withstand—before your accounting software starts suffering.

And don’t figure that past power is necessarily an indicator of the future. As proof, I need say no more than the words, “Big 3 automakers.”

2. See how “bad” bad is. Ask for at least three “negative” recent accounting software references and follow up on them. No, that’s not a typo. All accounting solutions have their detractors and vulnerabilities. By requesting three sources who aren’t happy, you can get a baseline of present drawbacks to view in light of potential future problems. If the accounting system software is fundamentally failing now, don’t expect a magical positive change in the near-term—especially with a faltering economy.

As part of this process, also research blogposts and other online articles/reviews—remembering to view comments with a grain of salt until/unless you can establish their veracity.

3. Look harder at core competencies. For example, accounting software that has “made its bones” in the manufacturing industry before branching out may decide to go back to its roots if the economic going gets too tough. If its roots are in manufacturing, and you’re a manufacturer, this can be a big plus. If you’re a retailer, you may want to locate accounting software rooted strongly in your industry.

Do your homework to help make sure your accounting software wizard can deliver on promises for tomorrow, as well as today.

How will President-elect Obama impact small business accounting services? Let me count some of the ways that the next Administration will both heighten accounting-related requirements and offer rewards that, likewise, will increase needed tracking of finances:

1. Taxation. As the new President grapples with myriad economic woes, you can bet that one priority will be greater oversight of tax bills by the IRS. Given that current revenues fall short of what’s actually owed, look for more government involvement in your accounting services to put more money in the US Treasury. Make sure your accounting software is up-to-date, properly customized to your needs, accurate, and readily accessible.

2. Regulation. Greater government involvement means more rules for small business. Being able to stay on top of them (which the proper accounting software can help do) and comply with them (also a function of the right accounting services), will result in much stress relief going forward. Start asking questions of your present or prospective accounting software companies about how they plan to address regulatory issues and requirements going forward.

3. Incentives/Lending. Look for small business stimulus incentives with the new Administration. These may pose both an opportunity and a challenge: A new/extended Stimulus Package could make buying/upgrading accounting software and other hardware/software much more affordable. Keep your eyes open for expanded lending through the Small Business Administration, micro-lenders, and peer-to-peer lenders—all fueled with government backing. Stay aware of accounting software that will be needed to efficiently capture data and develop financial reporting enabling your company to take advantage of these opportunities.

4. Jobs. Both in the public and private sectors, look for new jobs and incentives for hiring. Accounting solutions that can reliably capture data and create salient reporting around hiring opportunities will help ensure full compliance to keep the incentives coming.

And this is just the cursory overview. Fundamentally, small businesses that make their accounting services a top priority are much more likely to generate top-notch revenues

You may have heard increasing discussion of international versus US accounting standards. Given proliferation of international trade, now coupled with an international financial crisis, it’s only logical that domestic and international accounting standards would invite side-by-side comparison.

The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) are holding round-table discussions to address “financial reporting issues highlighted by the global financial crisis…” (source: IASB Nov. 3 press release).

The release elaborates, “The round tables are intended to help the board identify any accounting issues that may require the urgent and immediate attention of the boards to improve financial reporting and help enhance investor confidence in financial markets.”

Even if you own a US company with no direct international ties, these discussions ultimately may impact your accounting software’s reporting requirements and standards.

I know. Many of you are asking, “I have plenty of time before this affects me, so why concern myself with it?”

Here’s why. There’s a perfect regulatory storm brewing in the accounting services sector. First, there’s the domestic quagmire created by the current financial crisis. Second, the ongoing comparison and contrasting of US and international accounting services standards will produce changes regardless of the present economy. Third, a new Administration and Congress will want to appear gung-ho about undoing harm created, in part, by the sub-prime mortgage mess.

And, you don’t think your accounting system software will be scrutinized? As the pendulum swings quickly toward more government oversight and regulation, no one is immune. By way of analogy, think airline security. No matter who you are or what you do, you can’t carry that unsealed bottle of water aboard.

Given these circumstances, make sure your accounting software is heavyweight enough to address any or all of these accounting services issues. And do it now, not when new regulations are being implemented—and you’re already behind the proverbial eight ball.

So, how do you know if your accounting system software—present or prospective—
is safe and sound? Start by asking the manufacturer for specifics of present and planned accounting software features to address today’s regulations and tomorrow’s changing accounting services landscape. Look for more than reassurance—look for substantive answers that demonstrate knowledge of, and ability to deal with, what’s coming regulation-wise.

And, if that lower-priced accounting software doesn’t quite seem to measure up, move up to more robust and scalable accounting solutions that can take care of your needs now and as you move forward.

After all the campaigning, rhetoric and spin, the choice of our next president boils down to numbers and their reporting. And what has the entire campaign been about, if not numbers—polling numbers, calculations of electoral votes, use of those numbers to motivate constituents, and the like?

How the numbers themselves are determined has been a subject of much discussion and controversy. Different analyses have yielded highly divergent results.

Think about this the next time you view your company’s accounting services as ho-hum. In reality, much of what goes on in a national election process is a macrocosm of what happens—or should happen—every day in your business.

Data must be collected. It must be reported and recast in ways that are pertinent to different audiences. It’s information critical to evaluating how your company is doing, what trends to be aware of, and how resilient you can afford to be in these challenging times.

Your company’s accounting services also are the critical link to financial backers. And it’s not just the raw numbers. It’s how they’re reported, recast and recorded.

Given the weighty role that accounting system software plays in your business, you would think that companies would employ the most effective accounting solutions. Instead, the decision-making process often hinges on finding the most well-known accounting services, often at a lower price. Only after embracing this popular accounting software does a company realize there are shortfalls they didn’t consider.

Once again, this sounds eerily like the nation’s election process. In the rush to embrace popular technology, our country faces uncertainty about how well voting machines will perform, how accurate they will be, how vulnerable they are to tampering.

Popular accounting solutions are just that—popular. It doesn’t mean they are right for your business or unique needs. So, before investing in any accounting system software, investigate the following as part of your overall assessment:
1. Security. Consider multiple versus single layers of protection. Assess how valuable your accounting data may be to a competitor or disgruntled employee, then make sure to protect yourself adequately;
2. Power. If you have employees waiting around to use the system, that’s a problem (in some ways, not unlike voters waiting for hours at under-powered polling places). Think of the lost productivity employers suffer on Election Day because of those long waits—then think about how much money is going down the drain when employees are waiting around waiting on slow or balky accounting system software;
3. Reliability. Evaluate whether or not present or prospective accounting services give you what you need, when you need it, in the ways you need it. Think about connectivity with other critical systems, such as customer relationship management (CRM). Think about ability to tailor reports to various departments (e.g., salespeople and accountants generally do not read off the same page).

Numbers, and how they’re accounted for, are a critical part of any corporate structure. Staying on top of them by using the right accounting software will keep your company at the top of its game.

When a prospective lender or investor asks for specific financial data and reports, what do you think happens if you provide more detail and greater clarity than requested?

Likely, two mindsets get ingrained in the stakeholder’s head: You know what you’re doing; and you’ll continue providing the type of accounting system software information needed efficiently and predictably.

That sets a positive tone from the outset, and conveys a sense of professionalism and competency that will go a long way with just about any astute businessperson.

This is just one of myriad examples of how top-notch accounting software can pay constant dividends. These are the type of hidden benefits that await savvy accounting software buyers.

Here are just a few of the ways that appropriate accounting solutions can continue to impress stakeholders:

• Ramp up report generation. If your investor wants quarterly updates, provide monthly ones—and look that much more astute and aware. With the right kind of accounting software, this process can easily be incorporated into a regular routine.

• Encourage “surprise inspections.” Another way to impress stakeholders is to offer reactive as well as proactive accounting services reporting. Make it known that you stand ready to provide salient information whenever they need it.

• Tout the software itself. If you’ve installed prestigious accounting solutions that demonstrate your commitment and ability to expand within an accounting system software framework, that in and of itself can impress stakeholders. Not to denigrate homegrown or entry-level systems, but such powerhouses as Microsoft Dynamics GP or SL likely will instill confidence—and reinforce a sense that your company, and its information, can be trusted.

• Demonstrate data “flexibility.” Show CPAs highly technical financial reports, and they’ll likely be satisfied. But what about the potential investor who made his or her money as a salesperson? Or the financier whose top passion is customer relationship management? Being able to generate reports that can provide data relevant to the recipient’s knowledge base and comfort zone can make the difference between a warm reception and a cold shoulder. Being able to recast that data accurately and efficiently for a variety of different audiences also is critical.

If you don’t think more regulation is coming, think again. Just today Bloomberg reported, “Former Federal Reserve Chairman Alan Greenspan said a ‘once-in-a-century credit tsunami’ has engulfed financial markets and conceded that his free-market ideology shunning regulation was flawed.”
Increased regulation, regardless of form, undoubtedly will affect corporate financial recordkeeping. Small to mid-sized businesses lacking accounting software that provides accurate and in-depth financial reporting had better start rethinking their accounting solutions now—before regulatory requirements force them to rethink—and revamp—later.
So, what do you need to help ensure compliance with regulations not even enacted yet?

• Ask questions about what’s coming—then evaluate. Do online research, visit online social/business networking sites where pertinent topics are being discussed, query industry trade organization authorities, read pertinent articles, talk to trusted advisors. Get educated about what’s likely coming, so you can stay ahead of developments.

• Beef up accounting software to meet future requirements as well as today’s needs. As we all know, when government ramps up regulation, resulting mandates don’t always appear logical. So, make sure your accounting system software can handle anything even remotely on the radar screen post-election. This means accounting solutions that can handle “heavy lifting” today, and can be updated as new developments dictate.

• Don’t be pennywise and pound foolish. In the rush to belt-tighten, don’t pinch pennies on under-powered, under-performing accounting software. It doesn’t take many hours of CPA or legal fees spent dealing with regulatory non-compliance to offset any savings from buying lower-priced accounting solutions. To get specific, look at a QuickBooks Upgrade. If you have a small company whose financials can easily be handwritten on a spreadsheet, you’re likely okay with QuickBooks, upgrade or not. But, if you have any degree of complexity, a pattern of company growth, multi-level security requirements, multiple concurrent accounting software users, or any other expanding scenario—look at such heavy duty solutions as Microsoft Dynamics GP or SL.