I'm Looking for Accounting Software, Any Recommendations?
This is a question, but it doesn't fit within any of the classrooms so I've posted it as a blog post.
For years I have been managing my money manually via spreadsheets. I recently submitted my tax return, and that got me thinking that I could do with some good software to make all this easier.
I need something that I can use to manage my personal finances as well as business finances. So it needs to be able to:
- Track my spending on my credit card.
- Track incomings and outgoings to my current account.
- Be able to distinguish between personal money and business money in the same accounts.
- Track earnings from multiple sources.
- Submit my self-assessment tax return to HMRC (the UK equivalent of the IRS).
Is that possible?
I was chatting to an online sales person for Quickbooks, but it seems like it wasn't able to do everything I wanted it to do. I'm now looking at other options such as Sage. But I'm just wondering what other people use?
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I use quickbooks pro. It sounds like you need to setup
a separate checking account for your business stuff. It makes it so much easier and then you don't have to differentiate between your personal and business money. If your business isn't self-sustaining yet, you can transfer money from your personal account to your business account should you need more money in it.
Hi Marcus, this is the first time I am completing my self assessment and I am also in the UK.
Because my account is a complete mess, with ingoings and outgoings that I didn't track for over a year, I am scared to make a mistake.
I thought about getting a software, but still I believe there are many details that I can miss, I suppose.
Do you think I should hire an accountant, or it's not so difficult as it looks?
Thanks
If you find it all overwhelming, and you think you can afford to get an accountant, it is probably worth getting one. For a one-man business, it should be quite quick and easy for book keeper to sort it all out.
I used Quickbooks pro for my bricks and mortar business. Excellent software, especially for someone who isn't an accountant.
Thanks Jeff.
The sales person in chat said I can only use it for one source of income and can't submit my tax return with it. Is that true?
I use Quickbooks. Awesome software. use it for 3 different businesses. Works like a dream and the support is great
Here are several Marcus. I have heard most about Quicken which isn't on the list! http://www.softwareadvice.com/accounting/
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Hi Marcus, I am reluctant to make a recommendation for legal reasons. There are many packages on the net. Irv.