Would you run your septic service or portable sanitation business without the essential tools for the job – a vacuum truck, restrooms or an adequate supply of wrenches?

Of course not. What you might not realize, however, is that business accounting software is nearly as important to your operation as any of those pieces of hardware.

Sure, you can keep your books on paper – I hope you’re at least doing that, and not just stuffing receipts and bills into a shoebox somewhere. But if you restrict yourself to an old-fashioned ink-on-paper ledger, you’re probably burying tons of important information about your business that the right software could help you unearth and learn from.

A wide range of business management and accounting software products are available, with prices ranging from less than $50 to well over $1,000. Probably the biggest challenge will be deciding exactly which one is right for your particular business. This column offers an overview of some of the more broad-based, general management programs. Specialized, industry-specific products also are available for consideration.

Quicken, Quickbooks

Quicken is a hugely popular program that allows you to keep your checkbook register on your computer. Several versions are available, including Quicken Home & Business (http://quicken.intuit.com/personal-finance-software/home-and-small-business.jsp, $79.99 discounted), which just as the name sounds is for organizing both personal and small business finances. It includes budgeting features and reminders for bills as well as income, and it helps track business expenses.

With Quicken Home & Business you can probably get by and even have a leg up on your paper-based system. But just as you need more than your checkbook and ledger to run a business, Quicken has limitations.

If you want a computer-based business application that also includes invoicing – and you really should at least consider that – you’ll need to step up to QuickBooks Pro (http://quickbooks.intuit.com, $183.96 discounted). In addition to tracking all your sales and expenses, QuickBooks generates invoices and also maintains a customer contact database.

For significantly more – $249.95 a year, or $29.95 monthly – you can upgrade to QuickBooks Pro Plus. This version allows you access to your data from a smartphone and provides regular updates to the program as well as round-the-clock telephone support.

Yet another variation is QuickBooks Online (http://quickbooksonline.intuit.com, $12.95/month to $63.16 a month, online). The easiest way to explain this version is to say that it’s like using a website to read and store your email instead of downloading it to a program like Outlook Express. With QuickBooks Online, you can log in and manage your business finances from any computer, so long as you have an Internet connection. It also has smartphone access.

Sage/Peachtree

The Sage Group, a global marketer of business management software based in England, has two basic product lines for small businesses. Sage Simply Accounting (http://us.simplyaccounting.com, $79.99 - $2,699.99, depending on features and number of licensed users) comes in several versions. The most basic focuses on managing your ledger of income and expenses. Pro includes invoicing, cash flow management and project management features, while premium adds inventory management, forecasting and other features to the mix.

Sage also owns Peachtree, another long-established accounting management software provider it acquired in 1998. Sage Peachtree Accounting (www.peachtree.com, $229.99 - $2,549.15, depending on features and number of licensed users) also comes in multiple versions. The Peachtree line is priced at a higher tier than Simply Accounting, based on a richer complement of features, which can include utilities for tracking inventory, managing labor costs and progress billing.

There is a less expensive version, Sage Peachtree First, priced at under $130 MSRP and under $50 on Amazon, but reviewers have complained of poor customer service and early obsolescence with the bottom-rung version.

A low-cost solution

Bookkeeper (www.avanquest.com, $39.95) is surprisingly inexpensive, but reviewers at the online site TopTenReviews.com reported that it is a bargain with good features. Besides the usual check-register functions, it provides invoicing, inventory management, payroll and purchasing features.

“We found Avanquest customer service to be extremely responsive and the software comes with full embedded support as well as a 318-page user’s guide,” TopTenReviews reported. One missing feature, however, is “a comprehensive tool for tracking fixed assets.”

Labeling software to assist in sending invoices and checks is included, along with a card reader for credit and debit card transactions.

At the other end of the spectrum are a number of specialized companies, including ones that produce software tailored to or customizable for specific businesses. Evaluating those is beyond the scope of this column.

Making a choice

With such a wide variety of options available, it’s easy to get overwhelmed when picking an accounting software solution, but you don’t have to go it alone.

Check with your accountant or financial services professional to see if he or she has a preferred application. If you know other people in service businesses, find out what they use and whether it has particular benefits for your business – or drawbacks that you’d find especially unsatisfactory.

The low-priced alternative may suit you fine, and if it’s low enough, you can probably afford a certain amount of trial and error in making a selection.

But the cheapest approach isn’t always the best, and there is another alternative: Many software packages provide a 30-day free trial if you download them – although usually with much more limited functionality. That can be enough to get your feet wet and help you judge whether the program you’ve selected works for you.

If you decide to go with a more expensive, customized option, of course, the same rules apply as with any major investment in a professional service: Get to know your provider, get good references, and perform a due diligence inquiry before signing a long-term contract.

Whatever product you ultimately choose, get to know all the features and make the most use of it. You’ll find that it really is as important to your business as anything in your garage or toolbox.