Accounting software

[1socrates1]

I am self-employed, and want a very simple accounting program that I could buy to sort out my finances etc for the online self assessment. I have no accounting background and want something very user friendly. Any recommendation? Thanks

[BAA1]

A spreadsheet program like Microsoft Excel or MS Works should be all that you would need.

You could create a spreadsheet file for each tax year, enter your invoices, your expenses, etc. then put in relevant calculations to work out your profits.

You could even print your invoices directly from the spreadsheet, Excel comes with some templates built-in which include (Expense Statement and Invoice), you could use these as a starting point and tailor them to your own requirements.

If you designed the spreadsheet to calculate each value that you need to enter onto the online Self Assessment system, then you would be able to complete the SA system easily from those values.

You could even create a sheet to work out the tax calculation as per the Self Assessment online system.

The calculations are fairly simple, just based on percentages and the tax allowances and thresholds that are set for each tax year.

These spreadsheets could then form your records which you need to keep anyway.

[1socrates1]

Yes, but what I am really after is one with the macros built in that are easy to use for a person with minimal accounting knowledge, I really do not want to create macros myself. But thanks anyway.

[slenderkitten]

yeah i'm looking for this too want something simple that adds up everything and some level of automation

[1socrates1]

A huge level of automation, exactly what I am after..

[noodle]

If the records you need to keep really are simple enough that you think you can do it all yourself despite no accounting knowledge.. then Excel will be fine. You don't need any macros or anything else too clever. Accounting is mainly just a fancy word for 'adding up'.

[Pennywise]

Not free, but quite cheap is an online system www.freeagentcentral.co.uk which works out all taxes for you based upon very simple data entry of each transaction - ideal for those who don't want to engage an accountant.

[howzurfath3r]

Use excel, there are some great templates avaialbe free online

[Elaine_Wilson]

How are you keeping your records at the moment?

I am with most of the replies in that Excel (or its Open Office equivalent) will probably be adequate. It is difficult to recommend anything without knowing more details of your business. Do you want an inbuilt invoicing facility or is it just bookkeeping that you need?

Most of my self employed clients basically keep a cash book (or books). This is a record of money received and money paid out. When I move them to a spreadsheet I generally use two worksheets for this but the format is the same as a manual system. The only venture into entering formulae is to use the SUM command. It doesn't take that long to learn.

VT Software do a free program called Cash Book. Have a look at it and see if it does what you want. I have their full package so have not used this but I have heard a few good reports.

Remember that accounting, and preparing accounts, can be complicated but it all boils down to four items that you need to record.

The first two have been mentioned - the "ins and outs".

In addition you need to be able to say how much you owe and how much is owed to you at the end of the year. This can sometimes be managed by keeping a file of unpaid invoices and moving them to another file when they are paid.

Oh, I suppose another item is stock on hand at the year end but for many this is fairly inconsequential.

[NeverInDebt]

post 10

[tyllwyd]

I use a software programme called Personal Accountz for my personal finances, and the same company do Business Accountz software.