Accounting Software? - Construction CIS? VAT?

Gareth83

What's the latest recommendations for accounting software?

Small Ltd surveying and maintenance Project management company ie. Myself

I used quickbooks in my last company or rather they did but as a start up I want something cheap to produce quotes and basic invoicing with VAT

There will be no direct employees just labour only subcontractors.

What's your recommendations?

Pennywise?

fenwick458

not sure about the accounting software, I just use excel spreadhseets for that, But for the invoicing and quotes I use Express invoice
https://www.nchsoftware.com/invoice/index.html

Pennywise

We recommend freeagent for "simple" businesses like that. Written for freelancers/consultants etc.

00ec25

agreed, we have hundreds of clients on FreeAgent

it handles CIS on sales invoices reasonably intuitively, but you may need a bit of guidance to set up a robust CIS for subby invoices.

Of course that rather depends on how involved is your project management activity compared to the non CIS surveying work.

Gareth83

Seems quite pricey mind at £29 + VAT a month I thought? Unless of course I wouldn't need an accountant?

That nchsoftware looks reasonable and free! Could then do subcontractors wages on moneysoft or similar?

Not sure what I'd be gaining with something like free agent?

00ec25

Gareth83 wrote: »

Seems quite pricey mind at £29 + VAT a month I thought? Unless of course I wouldn't need an accountant?

That nchsoftware looks reasonable and free! Could then do subcontractors wages on moneysoft or similar?

Not sure what I'd be gaining with something like free agent?

either you want an accounting package or you want a glorified version of Word to make pretty invoices.

sub-contractors do not have wages, they are not your employees, they are creditors of your business.
You do not pay them through a payroll package - unless you intend to embroil yourself in false self employment litigation and tax demands from HMRC for employer costs, and the Pension Regulator for possible auto enrolment evasion.

BTW FreeAgent is free for life if (big if, and with other caveats) you have business banking with Nat West...

Gareth83

What's the best way to pay subcontractors then where CIS is also due?

Pennywise

Gareth83 wrote: »

What's the best way to pay subcontractors then where CIS is also due?

They're suppliers so they give you an invoice, you enter it as a purchase invoice in your books. Then you deduct tax as per HMRC's CIS system and pay the contractor net of tax, the tax being paid to HMRC. You use HMRC's CIS system which is loosely linked to a payroll/PAYE system, but not the same, so you don't need payroll software as such as that's just for employees, not suppliers.

Gareth83

Excellent thanks, so if I don't need a payroll system then isn't freeagent a bit expensive compared b to other programs?

Pennywise

Gareth83 wrote: »

Excellent thanks, so if I don't need a payroll system then isn't freeagent a bit expensive compared b to other programs?

Other systems don't have running totals for current year corporation tax and personal tax liabilities - that's FAC's USP. Most aren't as easy to use and user friendly either. Why not try a few free trials to see how they compare?

You'll need payroll for your own wages anyway.

Gareth83

What would be your option 2 and 3 for me to look at and compare?

Many thanks