Thoughts and opinions on accoutaning software
Discussion
The problem is that many very small companies have no staff as such and it is the proprietor who does the actual postings. Many of these individuals do not have the time or the inclination to go beyond basic posting - which is fine by me - as long as THEY understand and recognise the limitations of the data they are going to retrieve from the system.
Once they are aware of these issues, they can usually get the best out of the system - for them.
My clients always know that I am at the other end of the phone if they are feling brave and actually WANT to make a journal entry, or are unsure anout the correct nature of a posting.
Once they are aware of these issues, they can usually get the best out of the system - for them.
My clients always know that I am at the other end of the phone if they are feling brave and actually WANT to make a journal entry, or are unsure anout the correct nature of a posting.
Having started from scratch 3 years ago, My wife and I (shes an accountant) looked at sage50 or 100 and I was amazed how its function had not seemed to have changed in 10 years, which was the last time I used it.
We went with a system called Hansa, Office2 giving us a full stock, purchase, sales, CRM, Calendar and Email system in one package.
Well worth looking at, very intuertive (spelling) and being able to drill down through reports to actual transactions is so usefull.
HansaWorld UK has also just been shortlisted for the mid-tier Software Package of the Year in the Accountancy Age Awards 2006. They even have a mobile version for smartphones!!!!!
www.hansaworld.com
We went with a system called Hansa, Office2 giving us a full stock, purchase, sales, CRM, Calendar and Email system in one package.
Well worth looking at, very intuertive (spelling) and being able to drill down through reports to actual transactions is so usefull.
HansaWorld UK has also just been shortlisted for the mid-tier Software Package of the Year in the Accountancy Age Awards 2006. They even have a mobile version for smartphones!!!!!
www.hansaworld.com
So coming back to this....I'm currently running the OH's self employed income from two separate sources (driving instructor and IT consultant) on a MS Excel workbook with a separate spreadsheet for each separate "occupation" that all gets added up onto a front sheet which has totals and shows a gross profit.
What would you guys recommend? Quickbooks from the sounds of things?
(like many lawyers I'm pretty crap with numbers but I've done a number of accountancy modules so understand most of the principles but struggle with the detail!).
What would you guys recommend? Quickbooks from the sounds of things?
(like many lawyers I'm pretty crap with numbers but I've done a number of accountancy modules so understand most of the principles but struggle with the detail!).
Not so much a software point but a tax one -
When completing the Self Assessment tax return, make sure that the two activities and related profits or losses are shown separately as they are two separate "trades". Two sets of "Self Employed Income Supplementary Pages" will need to be completed.
When completing the Self Assessment tax return, make sure that the two activities and related profits or losses are shown separately as they are two separate "trades". Two sets of "Self Employed Income Supplementary Pages" will need to be completed.
Piglet said:
So coming back to this....I'm currently running the OH's self employed income from two separate sources (driving instructor and IT consultant) on a MS Excel workbook with a separate spreadsheet for each separate "occupation" that all gets added up onto a front sheet which has totals and shows a gross profit.
What would you guys recommend? Quickbooks from the sounds of things?
(like many lawyers I'm pretty crap with numbers but I've done a number of accountancy modules so understand most of the principles but struggle with the detail!).
I have looked at becoming a driving instructor as well. Financially there is not comparison to IT consultancy, but I was attracted by the idea of getting to meet people. I've been too busy with IT stuff though to make it happen, even though in theory I only have three days a week paid IT work - somehow the other two get swallowed up anyway. What would you guys recommend? Quickbooks from the sounds of things?
(like many lawyers I'm pretty crap with numbers but I've done a number of accountancy modules so understand most of the principles but struggle with the detail!).
Is it working out for you?
Eric Mc said:
Not so much a software point but a tax one -
When completing the Self Assessment tax return, make sure that the two activities and related profits or losses are shown separately as they are two separate "trades". Two sets of "Self Employed Income Supplementary Pages" will need to be completed.
When completing the Self Assessment tax return, make sure that the two activities and related profits or losses are shown separately as they are two separate "trades". Two sets of "Self Employed Income Supplementary Pages" will need to be completed.
Thanks for that Eric, that's one of the questions on my shopping list for the accountant over the next couple of months. I've been keeping the figures separately so it should be pretty straightforward to transfer the data over. Cheers
victormeldrew said:
Piglet said:
So coming back to this....I'm currently running the OH's self employed income from two separate sources (driving instructor and IT consultant) on a MS Excel workbook with a separate spreadsheet for each separate "occupation" that all gets added up onto a front sheet which has totals and shows a gross profit.
What would you guys recommend? Quickbooks from the sounds of things?
(like many lawyers I'm pretty crap with numbers but I've done a number of accountancy modules so understand most of the principles but struggle with the detail!).
I have looked at becoming a driving instructor as well. Financially there is not comparison to IT consultancy, but I was attracted by the idea of getting to meet people. I've been too busy with IT stuff though to make it happen, even though in theory I only have three days a week paid IT work - somehow the other two get swallowed up anyway. What would you guys recommend? Quickbooks from the sounds of things?
(like many lawyers I'm pretty crap with numbers but I've done a number of accountancy modules so understand most of the principles but struggle with the detail!).
Is it working out for you?
Hi Victor, OH has only just started instructing after just over a year of tuition. He's still got his part 3 test to go having failed it the first time. He's been able to take a 7 month lease on a school car and is now up and running and quite busy (after 4 weeks).
He is only getting around 3 to 5 days IT a month and subject to the company he works for giving him enough notice it is fairly straight forward to blank the IT days out of his driving diary. He is working with two other guys and I'd imagine if he had a pupil with a test that he couldn't do they would take it on for him - he's certainly done that for them.
I'll stop there rather than litter up this thread, drop me a pm if you want any more specific info. We're away the weekend so I might not yet back to you until next week.
octanebooster said:
As an accountant in practice, I use and recommend Quickbooks as I find it suits me and my clients.
We moved to the full Sage (100?) so that the results could easily be transferred to our auditor's software (supposedly saving us a few quid come audit time).
Dont you guys have audit software that will take data from different accountancy programs (Quickbooks/Sage etc)?
I use Iris as my practice software. As far as I know it cannot read other software directly and the only way to enter data is to manually code up the client's draft accounts or trial balance and enter it line by line. In reality, this is a mere ten minute job. The real problems arise when trying to interrogate the client's software. If I don't have his/her software on my computer, I will need to interrogate his system on site or else obtain as many nominal ledger printouts and schedules as possible before I take the books and records to my office.
Practice software is really set up to ensure, as far as possible, that the final accounts prepared are compliant with accounting and auditing standards, tax regulations and Companies Act requirements (if a limited company).
Iris is brilliant in this respect and frankly, I wouldn't be able to function without it.
Practice software is really set up to ensure, as far as possible, that the final accounts prepared are compliant with accounting and auditing standards, tax regulations and Companies Act requirements (if a limited company).
Iris is brilliant in this respect and frankly, I wouldn't be able to function without it.
FUBAR said:
octanebooster said:
As an accountant in practice, I use and recommend Quickbooks as I find it suits me and my clients.
We moved to the full Sage (100?) so that the results could easily be transferred to our auditor's software (supposedly saving us a few quid come audit time).
Dont you guys have audit software that will take data from different accountancy programs (Quickbooks/Sage etc)?
No, its not worth the cost. Simply using the same software as your clients is much more straightforward, and I haven't come across anything that I need as an auditor that a good knowledge of quickbooks can't provide me with. Dealing with SAGE is probably a different matter because of no drill down facility or real windows functionality, but I've got nearly all my clients on QB for this reason.
Edited by octanebooster on Sunday 5th November 20:51
octanebooster said:
FUBAR said:
octanebooster said:
As an accountant in practice, I use and recommend Quickbooks as I find it suits me and my clients.
We moved to the full Sage (100?) so that the results could easily be transferred to our auditor's software (supposedly saving us a few quid come audit time).
Dont you guys have audit software that will take data from different accountancy programs (Quickbooks/Sage etc)?
No, its not worth the cost. Simply using the same software as your clients is much more straightforward, and I haven't come across anything that I need as an auditor that a good knowledge of quickbooks can't provide me with. Dealing with SAGE is probably a different matter because of no drill down facility or real windows functionality, but I've got nearly all my clients on QB for this reason.
Edited by octanebooster on Sunday 5th November 20:51
Our auditors are fairly big, so I guess they run several different sofware packages to pick up most of their clients' account info?
Eric Mc said:
I use Iris as my practice software.
Me too
As for what software it is best for a small or medium sized business, I like it when a client is using Sage, but that is in part because that is the package I have the most experience with.
For a smaller client not wanting the expense of Sage something like QuickBooks should be fine, but some of the worst records I have seen were maintained on more basic packages, such as Dosh.
Rather than using a programme that doesn't offer a nominal ledger printout in my experience the client would be better off just keeping a cashbook in excel. Both for their own benefit and to keep accountancy fees down.
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