Small business accounting and expense app -? Quick books
Discussion
Hi Pistonheads
Does anyone have experience of the Quickbooks app please?
I need to get up on top of my book keeping and am hoping something like this application will help. I have a small consulting type business and I am the sole employee - I have 3 clients, I also plan to run two other separate businesses.
I am looking for an app where I can upload expense receipts and refer to invoices etc and my bank accounts, so I manage my books for each business better.
At the moment I have a box file of receipts for the year to upload on my spreadsheets... but I am really behind and so am looking for an easier way of keeping on top. (At the moment there isn't enough work for a book keeper and I would like to try and manage myself)
Your thoughts, experiences and opinions greatly appreciated
Many thanks
Sparky
Does anyone have experience of the Quickbooks app please?
I need to get up on top of my book keeping and am hoping something like this application will help. I have a small consulting type business and I am the sole employee - I have 3 clients, I also plan to run two other separate businesses.
I am looking for an app where I can upload expense receipts and refer to invoices etc and my bank accounts, so I manage my books for each business better.
At the moment I have a box file of receipts for the year to upload on my spreadsheets... but I am really behind and so am looking for an easier way of keeping on top. (At the moment there isn't enough work for a book keeper and I would like to try and manage myself)
Your thoughts, experiences and opinions greatly appreciated
Many thanks
Sparky
If you're a consultant and bill time then get Harvest for time and expenses tracking. Feed that into Xero for accounting.
Both are easy to use cheap / free.
The great thing with Xero is that you have plenty of other Apps that you can integrate to and may appreciate in the future if things get a little more complicated.
Both are easy to use cheap / free.
The great thing with Xero is that you have plenty of other Apps that you can integrate to and may appreciate in the future if things get a little more complicated.
I have a business which sends out about 100 invoices a year and pays about 150.
I do it all with excel and three paper folders, invoices in, out and bank statements.
I find that level very easily managed and rarely spend more than 5 minutes a day keeping all up to date.
There is a lot to be said for a simple, transparent and easily picked up by a third party system.
I do it all with excel and three paper folders, invoices in, out and bank statements.
I find that level very easily managed and rarely spend more than 5 minutes a day keeping all up to date.
There is a lot to be said for a simple, transparent and easily picked up by a third party system.
Sparkysea said:
Hi Eric
Why? would it conflict with apps?
It may - or it may not.Why? would it conflict with apps?
It depends on what app you are talking about and whether it will comply with HMRC's requirements - which they haven't set yet.
Apps are not magic,. It will still take some understanding by traders of basic accounts record keeping and some accounting principles (the difference between capital and revenue for instance) as well as some tax rules knowledge for them to be able to submit their data correctly. And that has nothing to do with the apps. The old computer saying "garbage in.. garbage out" will be very much the hallmark of Making Tax Digital.
Eric Mc said:
It may - or it may not.
It depends on what app you are talking about and whether it will comply with HMRC's requirements - which they haven't set yet.
Apps are not magic,. It will still take some understanding by traders of basic accounts record keeping and some accounting principles (the difference between capital and revenue for instance) as well as some tax rules knowledge for them to be able to submit their data correctly. And that has nothing to do with the apps. The old computer saying "garbage in.. garbage out" will be very much the hallmark of Making Tax Digital.
That is true but as many apps (eg Kashflow and Xero) already allow you to directly seliver your VAT return I don't think this is a big deal. It depends on what app you are talking about and whether it will comply with HMRC's requirements - which they haven't set yet.
Apps are not magic,. It will still take some understanding by traders of basic accounts record keeping and some accounting principles (the difference between capital and revenue for instance) as well as some tax rules knowledge for them to be able to submit their data correctly. And that has nothing to do with the apps. The old computer saying "garbage in.. garbage out" will be very much the hallmark of Making Tax Digital.
Put it this way - anything is better than Sage.
DeadInside said:
Eric Mc said:
It may - or it may not.
It depends on what app you are talking about and whether it will comply with HMRC's requirements - which they haven't set yet.
Apps are not magic,. It will still take some understanding by traders of basic accounts record keeping and some accounting principles (the difference between capital and revenue for instance) as well as some tax rules knowledge for them to be able to submit their data correctly. And that has nothing to do with the apps. The old computer saying "garbage in.. garbage out" will be very much the hallmark of Making Tax Digital.
That is true but as many apps (eg Kashflow and Xero) already allow you to directly seliver your VAT return I don't think this is a big deal. It depends on what app you are talking about and whether it will comply with HMRC's requirements - which they haven't set yet.
Apps are not magic,. It will still take some understanding by traders of basic accounts record keeping and some accounting principles (the difference between capital and revenue for instance) as well as some tax rules knowledge for them to be able to submit their data correctly. And that has nothing to do with the apps. The old computer saying "garbage in.. garbage out" will be very much the hallmark of Making Tax Digital.
Put it this way - anything is better than Sage.
In order for MTD to work, traders will be FAR more occupied analysing and detailing their income and costs compared to what they have to do for VAT purposes.
The word on the street is that MTD will eventually be integrated with VAT, so that the fairly lightweight analysis currently required for VAT will be abolished, with the much more detailed analysis required for MTD taking over.
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