Accounts programme

Chaoscounter · 4 July 2012 at 8:33AM

I have a very small business, it is basically money in and overheads out, no wages or anything like that, but even so have managed to get in a muddle with accounts. So far i have used an old ledger style book and try to write things down BUT sometimes i forget and i often have to use money from my personal bank account to pay for things so theyre not on my designated bank account- i admit this is bareley a business
Anyway can anyone come up with ideas to sort me out and or a (free) simple computer programme to try and keep me in line and yes i know i will still have to remember to enter the amounts:eek:
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badmumof1 · 4 July 2012 at 9:45AM

I i use a program called. very simple bookkeeping
but you.must remember why to keep onto of things

Pennywise · 4 July 2012 at 10:24AM

Software won't help you if you forget about a payment. Garbage in, garbage out.

Get back to basics, and sort out your administration, i.e. get yourself organised. When you pay for something, get a bill/invoice/till receipt and file it properly - that way you won't have to try to remember.

People say book-keeping and accounts is hard. It isn't - it's actually very basic and simple. The difficulty lies right at the outset with poor housekeeping - i.e. lost receipts, forgotten cheques, paying the wrong amount, confusing business and private accounts, etc - all of which conspire to make it hard.

An extra minute or two doing things properly at the time of the transaction makes the world of difference and saves hours of stress at the year end.

There's no magic bullet, no magic software. Just make yourself be more organised.

fishybusiness · 4 July 2012 at 5:58PM

but even so have managed to get in a muddle with accounts.

Sounds familiar, I did the same when I started, borrowed money from myself by bank transfer, didn't pay wages often, when I did it was cash, and trying to integrate it was a nightmare.

I tried all sorts, went through all of the software packages, Pennywise hits the nail on the head, there is no magic, but being methodical helps.

Two years later I ran in to VT Software and spent some time learning the basics and watching their videos. It worked for me, gave me a fairly easy way to record transactions, issue invoices etc.

I made myself a system based on VT's strengths and at year end printed out all the totals for my accountant. It also helped keep the accountancy fees low.

Understand what you want, use software if it will help, set aside time to update your records, and know what you will need at year end before you get there, it will stop the panic and stress

nickj_2 · 4 July 2012 at 6:17PM

just use an excel spreadsheet

LianneCarlaS · 4 July 2012 at 11:28PM

What Pennywise said, systems only work if you work them.

1. budget to make sure that your business account has enough to deal with expenses and try to keep a little buffer in there just in case things cost more or sales aren't as much as expected. Avoid your personal accounts as much as possible unless it's capital invested and drawings

2. build a system into your business. Monday morning priorites should be
-reconcile reciepts and invoices
-set your goals for the week ahead
-marketing
-providing your product/service

This way you get your accounts in order week by week as you go along making it simpler and turn it into a habit. You then use your knowledge of what is happening financially to set your goals for the week. Next, you market your business to keep cash flow steady and work towards your goals. Finally you provide your product/service for the majority of the working day.

Chaoscounter · 5 July 2012 at 7:41AM

You are all right When i can get myself out of the mess that is this years accounts i wil get sorted

Taverman · 5 July 2012 at 2:06PM

We use an online accounts package called Kashflow. Being web based it is accessible from any computer, though has a monthly subscription of £14.99 + VAT

There is a free package available named Quick File accounts that may be sufficient for your needs.

Regards

Taverman

LianneCarlaS · 5 July 2012 at 3:12PM

How do you find using Kashflow? I have heard it's not very intuitive to use which is not good for non-tech minded people, it also required me spending a few hundred pound to have the accountants version which has a dashboard to manage clients accounts. If I have a few clients who use kashflow or a big enough one to make it a worthwhile investment then I will.

Pennywise · 5 July 2012 at 3:52PM

KF is built for business owners, rather than accountants, so is designed to be a lot more user friendly and intuitive than the likes of Sage. We have about 20 clients using it and feedback is almost wholly positive and we find it very quick to teach clients how to use it. We have a few niggles with it, but that's more a matter of what accountants want rather than what the clients want - they tend to place more importance as to what their business users say they want, rather than what their accountant users say they want - presumably to keep it user friendly.

Re the accountant's "club", I understand you either pay a yearly fee and then get heavily discounted subscriptions for each client user, or if you don't want to pay a high annual fee, you can get client subscriptions at or near normal commercial pricing. So it's just a question of how many client subscriptions you'd have to determine which way is best for you.

LianneCarlaS · 5 July 2012 at 3:57PM

Thank you.

Accounts programme

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