Best for on line book keeping

Best for on line book keeping

Didn't find your answer?

Just looking at some on line book keeping providers.

I use VT Transaction+ and trying to streamline the process of clients providing their books. Is there anyway of a client entering their records online and feeding directly into VT+?

If not, any suggestion of the next best option?

Thanks.

Replies (9)

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Teignmouth
By Paul Scholes
29th Apr 2010 19:12

FreeAgent

Hi - I've been looking at online systems for a year now and have decided on the above as it best fits my client base, ie they are not accountants!  Xero also looked good for the same reasons.

They are a friendly bunch and I'm sure can advice how easy it is to integrate with VT+ or any other package.

Cheers

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By excelaccounting
30th Apr 2010 13:05

Online spreadsheets ?

As you are using VT as your accounts package why would you then want to replicate this with an online system? Also online packages like Kashflow and Free Agent charge a monthly fee (around £15).

Why not use an online spreadsheet such Google Docs or Microsoft Live Mesh? Your clients could fill in a pre formatted template which you could then import directly into VT.

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Adrian Pearson
By Adrian Pearson
30th Apr 2010 13:55

What kind of service are you looking to provide?

The answer to your question really depends on what you are trying to achieve.

Are you just looking to streamline your year-end accounts work, or are you looking for a solution that will allow your clients to get more out of their bookkeeping time - and maybe allow you to provide an ongoing management accounting service?  I wrote about this distinction recently.

If the former, then online spreadsheets, as suggested by another contributor, would do the trick but, in my opinion, clients get little, if any, business information value from spreadsheet records compared with using a proper bookkeeping package.  So, you are asking them to use their own time just to save you some.

Alternatively, if you help them with an online bookkeeping package, you can demonstrate that there is something in it for them too - better financial and management information and automation of processes like raising, sending and collecting payment for invoices, for example.

If you are changing your working practices, why not try to add some value at the same time?

Adrian Pearson, Top Accountants

 

 

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By User deleted
30th Apr 2010 16:30

Why online?

I may be stating the obvious here but whats wrong with clients using VT cashbook or VT Transaction and giving you that date to import - now that makes life very easy.

 

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By Ken Howard
30th Apr 2010 17:35

Kash Flow

We're migrating as many clients as possible onto Kashflow. 

It's revolutionising our way of working.  We spend time teaching them how to use it and then sit back letting them do the work.   Periodically we log in to see what's going on, discuss progress, etc., but most importantly to check they're doing it right.  When it comes to the year end accounts, we spend just a fraction of the time we used to spend.  We're far more proactive throughout the year.  Clients have given very positive feedback.  We don't charge for it - we absorb the training time and KF subscription but that is easily made up with spending far less time at the year end.

It used to be a nightmare with clients using a variety of software, various different versions of Sage & Quickbooks, etc.  We'd get emails, disks etc with corrupted data, or the client would have simply copied the wrong back up file.  Complete pain in the neck.  We really hated Sage & QB in particular as the clients would never want to pay for training and so produced a load of rubbish.  Kashflow is far easier and takes only an hour or so to set up and train so it's easily absorbed.

We're moved onto provided a "service" rather than just the year end accounts.  We're tieing our clients into ourselves by using a very good product - the benefits of online accounting are a bonus.  Clients no longer see a direct link between our time and their fee - which facilitates value pricing.

We also use Freeagent for freelancer/contracting clients.  We have looked at others, particularly Xero which is impressive, but we had to stick with one main supplier and we chose Kashflow at the time and havn't looked back. 

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Teignmouth
By Paul Scholes
30th Apr 2010 17:53

Why online?

Hi - My clients use a variety of methods to keep their records, ie everything from Excel through QuickBooks, MYOB etc etc to Exchequer.  With a handful of simple clients we do the bookeeping and with some others they handle it just fine and we import their data straight into IRIS at the y.end with little if any need to change it. 

The vast majority however are somewhere in the middle and regularly, or at odd intense times, we have to offer support, reviewing & correcting their books, explaining how & why etc etc.  With many of these they email spreadsheets, data files or reports and that is when the wasted time commences because of the back & forth.

So much easier for one set of books online accessable by us & them.

Many of my clients are mobile, ie travel & do business home, clients, holiday etc etc and again, so much easier to access if online.  Similar for me but not on hols!

Finally, with accounting packages various versions it can be a nightmare making sure we and the clients are up to date, whereas with an online system, there is only ever one version, the current one.

Several other reasons but these are my main ones.

Cheers

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By Ian Kent
01st May 2010 10:29

Online accounting

I believe that online accoutning is the way of the future.  I have looked at a number of systems and I have 4 on offer to clients depending on business size and circumstances (with 2 particular favourites  - 1 for micro busiensses and 1 for larger).  I am happy to discuss with other accountants with similar aims and can be contacted through www.silverliningaccounting.com

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By ALECP
06th May 2010 14:11

Who is going to break away from the bunch

There are loads of good online accounting tools, Xero, Liberty, KashFlow etc etc... but not one you can really pin down as as a benchmark for the rest. They are all OK but all have next to zero (no pun) brand presence outside of techy accountants.

I cant believe someone like Sage, MS or say Google have not cottoned on and nailed the market. It is there for the taking I think.

 

 

 

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Teignmouth
By Paul Scholes
06th May 2010 15:05

Away from the bunch?

Hi ALECP - having reviewed several systems, and despite all the hype, I think it is still early days.  I would imagine that at the forefront of developers minds is that with the vast range of internet speeds they have to be ultra cautious and balance complexity & sophistication with time constraints.  It only takes a few seconds delay in a keystroke or mouse click these days to hack people off and they can't afford it.

This is maybe one of the reasons why Online Sage had to be pulled (I'm guesing) and why, I would guess again, QuickBooks and others are waiting & watching.

Consequently, I have seen nice basic systems with uncluttered screens that are a real step up from manual books & spreadsheets and where each developer has to decide the bits that are valuable to their market, leaving out what they regard as not added value.  So, rather than there being a front runner, all singing all dancing, fits all system, I am faced with having to decide which one best fits the needs of my client base, accepting that I can put up with stuff they don't cover.

I have a couple of Sage/QB users who struggle and who will benefit from switching to the online services but, in the majority of cases I don't feel they are competition for full-blown Sage & QBs but it will come I'm sure.

I can also fully understand why a developer would target accountants rather than the business community, ie one firm can have hundreds of potential users.  It's still also the case that a large number of accountants don't trust this and so best to sell through a re-seller who believes in the concept. 

Possibly why green cars were so slow to be taken up in the business community! (sorry couldn't resist).

 

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