best free accounting software - is it necc?
Discussion
No it is free in the UK, 60 day trial in the US. I am currently trialing it as I have a simple business as a time based consultancy. It works very well. Does invoices, accepts bank downloads, does VAT (but not flat rate) and produces some useful reports.
I am impressed with it so far.
I am impressed with it so far.
Liszt said:
No it is free in the UK, 60 day trial in the US. I am currently trialing it as I have a simple business as a time based consultancy. It works very well. Does invoices, accepts bank downloads, does VAT (but not flat rate) and produces some useful reports.
I am impressed with it so far.
hmm im doing flat rate does that make it useless or can u get round it?I am impressed with it so far.
thanks
Can't you simply adjust the VAT rate used in the calculations? After all, even under "normal" VAT rules thre are a number of VAT rates in existence.
You do need to be careful if you are using Flat Rate VAT. Most computerised book-keeping systems operate on the basis that you are not a Flat Rate operator and you therfore have to "tweak" the software to some extent to make it give you the right outcome. Even Sage needs some fettling.
This is crucial if you are using the system to generate sales invoices instead of just recording already produced invoices.
Even under Flat Rate VAT you MUST issue Standard Rated Invoices to your customers. Therefore, if using a computerised book-keeping system, those invoices will be generated by the computer and Standard Rate VAT will be calculated and allocated to the VAT account automatically. If you are on Flat Rate, you will probably need to manually enter a journal to alter the VAT calculation to reflect the lower amount actually payable to the VAT man.
You do need to be careful if you are using Flat Rate VAT. Most computerised book-keeping systems operate on the basis that you are not a Flat Rate operator and you therfore have to "tweak" the software to some extent to make it give you the right outcome. Even Sage needs some fettling.
This is crucial if you are using the system to generate sales invoices instead of just recording already produced invoices.
Even under Flat Rate VAT you MUST issue Standard Rated Invoices to your customers. Therefore, if using a computerised book-keeping system, those invoices will be generated by the computer and Standard Rate VAT will be calculated and allocated to the VAT account automatically. If you are on Flat Rate, you will probably need to manually enter a journal to alter the VAT calculation to reflect the lower amount actually payable to the VAT man.
Eric Mc said:
Can't you simply adjust the VAT rate used in the calculations? After all, even under "normal" VAT rules thre are a number of VAT rates in existence.
You do need to be careful if you are using Flat Rate VAT. Most computerised book-keeping systems operate on the basis that you are not a Flat Rate operator and you therfore have to "tweak" the software to some extent to make it give you the right outcome. Even Sage needs some fettling.
This is crucial if you are using the system to generate sales invoices instead of just recording already produced invoices.
Even under Flat Rate VAT you MUST issue Standard Rated Invoices to your customers. Therefore, if using a computerised book-keeping system, those invoices will be generated by the computer and Standard Rate VAT will be calculated and allocated to the VAT account automatically. If you are on Flat Rate, you will probably need to manually enter a journal to alter the VAT calculation to reflect the lower amount actually payable to the VAT man.
Yes you can set up different VAT rates, and mark customers as outside of EC for VAT purposes. There is an inbuilt chart of accounts, which can be amended and there is journal functionality. Invoices can be produced by stock item sales or service based sales.You do need to be careful if you are using Flat Rate VAT. Most computerised book-keeping systems operate on the basis that you are not a Flat Rate operator and you therfore have to "tweak" the software to some extent to make it give you the right outcome. Even Sage needs some fettling.
This is crucial if you are using the system to generate sales invoices instead of just recording already produced invoices.
Even under Flat Rate VAT you MUST issue Standard Rated Invoices to your customers. Therefore, if using a computerised book-keeping system, those invoices will be generated by the computer and Standard Rate VAT will be calculated and allocated to the VAT account automatically. If you are on Flat Rate, you will probably need to manually enter a journal to alter the VAT calculation to reflect the lower amount actually payable to the VAT man.
For a free product it is really comprehensive. The only draw back is there are a few adverts for Microsoft products and it prompts you to upgrade to the Professional version, which does a few more complex things.
Interesting thread, have just downloaded a copy and am having a play, was going to start using Quickbooks but if this is close to being an equal and it's FREE (the magic words for a man like me with Scottish blood) then sounds ideal. Gotta be better than my cumbersome old excel spreadsheets.
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