As your business grows, it will outgrow its software – your new needs will no longer be met with small business accounting software – and it will be time for an enterprise resource planning (ERP) system. An ERP system is integrated business management software that manages data across multiple business activities, including accounting, project/service management, inventory control, human resource management, timekeeping, customer relation management, ad-hoc/dashboard reporting and much more.

While QuickBooks software by Intuit is a necessity for many startup companies that can't afford an expensive accountant, there comes a time when something that handles more complex tasks is necessary. A business that outgrows QuickBooks and doesn't update its software will find itself losing ground to the competition until it shifts gears and gets a more robust platform.

Your company may be in danger of slowing itself down by staying with the software, but how do you know you have outgrown QuickBooks?

You've grown your business to its current state with basic software, and that's great – but as you continue to grow in both size and complexity, you'll need to find an accounting product that can "stretch" to provide for your new needs. With so many products on the market, it might seem overwhelming, but we have a few recommendations to help you find the best accounting software for you.

Editor's Note: This post was originally published in September 2014 and has been updated for freshness, accuracy, and comprehensiveness.

Poor money management can spell the end for any business. Good money management includes saving records, managing payroll, protecting your information, and budgeting for your expenses as well as a “rainy day.” The best way to practice good money management is with a good software accounting system. Accounting software is a safe, reliable way to manage your business's finances and achieve financial stability.

Every organization operates differently, and not all systems provide the same features and benefits. However, you don't need to recreate the wheel. Taking a moment to understand current business requirements and future goals will allow you to prioritize your “wish list” and create a detailed roadmap that leads to implementation success.

In business, it’s all about the bottom line. So how do you make sure that you're staying in the black as the year progresses? The answer is easy – the best accounting software that makes it easy to track your finances and keep you on the profitable side of the revenue line.

As an owner of a construction business, it wasn’t long after you opened your new branch in other regions that you saw the need to ditch your antiquated accounting system for one geared exclusively for contractors.