business/accounts software

[robsparky1975]

Hi people,i have just started up on my own(sole trader),just wondering how you guys and girls do all your paperwork,software package etc,send to accountant at tax year end,any recommendations on what to use,just want to keep all things in one,tidy easy to use formation,thought id ask on hear first before going out and wasting my cash on something thats not what i need.

 

[IQ Electrical]

We use Sage 50 Accounts, an amazing tool for keeping track of almost everything that you'll need to keep track of!

We have a self employed book keeper that comes in at the month end for a few hours and enters the VAT stuff and 'closes off' the month.

My involvement in this side of things is famously minimal other than looking at the balance sheet!

Most packages do a 'try before you buy' but it's quite daunting to start with!

 

[robsparky1975]

thanks mate,i will look that up,not sure if i need to go vat,will check up on the hmrc site.take it you are limited then,i was advised to go sole trader,should be going on a free 1/2 day business course,better pay attention when im on that lol.

 

[IQ Electrical]

thanks mate,i will look that up,not sure if i need to go vat,will check up on the hmrc site.take it you are limited then,i was advised to go sole trader,should be going on a free 1/2 day business course,better pay attention when im on that lol.

It looks like a minefield when you first start but keep this site: Business support, information and advice | Business Link in your favourites, there is more information there than you will probably ever need and in an easy to understand presentation.

 

[robsparky1975]

cheers budddy,by the way my eyes nearly popped out my head and no it wasnt the missus in a see through neglige but the cost of sage accounts lol,£560 + vat oooouch,that must be the dogs doodahs of software.perhaps i can find a cheaper option,will have a look about,thanks again IQ

 

[IQ Electrical]

cheers budddy,by the way my eyes nearly popped out my head and no it wasnt the missus in a see through neglige but the cost of sage accounts lol,£560 + vat oooouch,that must be the dogs doodahs of software.perhaps i can find a cheaper option,will have a look about,thanks again IQ

If you haven't yet opened a business bank account, check with Barclays, they were offering free business accounting software for new startups.

 

[brucelee]

yeah my mate went with Barclays to get the free software it was £20 a month for business banking not sure if it was free for first 12 month the software was Quickbooks
alliance and leicster do one also which has a business plan software also

 

[Octopus]

I use Intuit Quickbooks Pro, (having tried the free version first). It allows me to do estimates, all my accounts and invoices too - all in one place and at year end does all the reporting you need for your accountant.

 

[white armour]

Hi Rob, I am a 1 man band trading as a Private Limited Company. Find that getting myself a ring binder and clear wallets is the way to go for me, put each weeks paperwork into a separate wallet. Keeps everything tidy and presentable for accountant at end of year.

I also use the Simplex 'D' account book as it is well laid out and easy to use and stay on top of things. Find that if I can save the accountant a little time by presenting tidy paperwork it saves me a little money.

Attended the half day course too, found it very informative and was presented in a very relaxed manner with plenty of other support available if needed.

Best of luck.

Regards wa

 

[white armour]

Forgot to add that I also bank with Alliance & Leicester (now Santander), think that they offer free business banking as long as there is £1000.00 going through the account each month.

Regards wa

 

[Voltimax]

You really don't need such fancy accountancy software when starting out and a one man band. It's a waste of money that should be spent in other areas of your business. A simple spreadsheet will suffice in the beginning, I run a limited company and use two paper ledgers still to this day. It's all you need, keep it simple and save your pennies. Remember look after the pennies and the pennies will look after the pounds!

 

[robsparky1975]

I use Intuit Quickbooks Pro, (having tried the free version first). It allows me to do estimates, all my accounts and invoices too - all in one place and at year end does all the reporting you need for your accountant.

i shall look it up,thanks for the info

 

[robsparky1975]

You really don't need such fancy accountancy software when starting out and a one man band. It's a waste of money that should be spent in other areas of your business. A simple spreadsheet will suffice in the beginning, I run a limited company and use two paper ledgers still to this day. It's all you need, keep it simple and save your pennies. Remember look after the pennies and the pennies will look after the pounds!

Sound advice,im keeping a beedy eye on the finances at the moment as been getting things sorted out,and as you say dont want to chuck good money after bad,did not realise how expensive these software were going to be,good old pen and books will suffice.

 

[robsparky1975]

Big thanks to everyone on your helpful info.

 

[DurhamSparky]

Been trading for Over 1 and bit years now..!!

started of with spreads and stuff which were brill then just moved on to Sage Instant Accounts+ for this financial year and onwards!

after been show how to do it properly by my bookeeper im impressed and actually like loading the system up as its so easy once all the ground work has been inputted... Ok its bit advanced for what i use it for but HEY!! i intend to grow my company and hopefully if i ever have to change to a VAT reg then im all set up!

but nothing wrong with accounts on paper or old fashioned spreadsheets!!