Not getting along with Quickbooks

Not getting along with Quickbooks

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I recently purchased quickbooks due to the posts on here saying how wonderful it was.

Up until that point I had been using excel but with more Limited companies to work for I decided a software would be better.

I am not really getting along with quickbooks and although I use most of the data I can from it, I have still ended up using excel to complete draft accounts.

I might not be doing something right but quickbooks doesnt seem to like the fact that a client charges 20% VAT yet only has to pay 13.5% to HMRC.

Does anyone have any dealings regarding this above matter using a different software?

If so I would be interested to hear about it.

Regards

Replies (11)

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By MissAccounting
02nd Aug 2012 11:12

Debit the VAT account for the total output VAT for the year/period and credit sales, then post the VAT flat rate payment to a new nominal in COS*

 

*There was a huge debit on the correct treatment of the VAT flat rate scheme so feel free to chose an alternate method but the principle is the same.

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By Pelican
02nd Aug 2012 12:19

thank you
 
miss accountant.

thank you

 

miss accountant.

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By User deleted
02nd Aug 2012 21:51

I HATE

QUICKBOOKS - there, I've said it

IMVHO it is the spawn of the devil, it is the book-keeping equivalent of knitting fog!

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By Pelican
02nd Aug 2012 22:27

I brought it due to everyone raving about it on here. Now I'm not so sure.

I'm not that keen on sage but haven't used it for a couple of years so wonder if it has got better?

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By User deleted
02nd Aug 2012 22:34

SAGE 2012 is OK

I believe SAGE 2103 going to be better, but have a look at Xero and IRIS openbooks

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By k3accounting
02nd Aug 2012 23:02

Quick books
Hello Pelican,

I like Sage 2012 and use it for all my bookkeeping clients that are VAT registered. It handles Flat Rate VAT really well......even giving you a cost/benefit analysis of the scheme at the click of a button.

For my non vat registered clients I use VT Transactions following the many recommendations on this forum. I had to have two goes at it purely because of the interface as compared to Sage. It is, however well worth persevering with it and it can be downloaded as a free trial. I love it, but not particularly for complex clients especially flat rate vat ones.

I do know many will swear by quick books so horses for courses, I've never tried it as no need with the solutions I have.

Hope that helps.

Ken

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By taxhound
03rd Aug 2012 06:42

Dislike sage AND Quickbooks

Would not recommend either.

VT Transaction + gets my (and lots of other people's) vote

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Replying to PERMON:
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By jaybee661
03rd Aug 2012 08:15

@taxhound

taxhound wrote:

Would not recommend either.

VT Transaction + gets my (and lots of other people's) vote

... totally agree, did use QuickBooks many moons ago and the mess it made of the VAT account was UNREAL... so I vowed NEVER again - as for Sage, well, the less said about that, the better... Xero for me!

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By Lesley22
19th Sep 2012 13:56

Software package for small hotel

Hi,

I am looking for a software package suitable for my country inn, with 8 letting rooms (which require separate records to be kept for b&b guests food and drink in order to qualify for VAT hotel flat rate scheme while still keeping normal records for bar/food sales).  I had a go with quickbooks but quickly came up against its problems with VAT and its helpline/forum was of no assistance.  Sage takes up too much memory and is overcomplicated for my purposes.  I used to work for an accountant and was involved in trials for access accounting package so am not a complete novice.  Any suggestions?  I've just finished my year end and would like to stop using my excel spreadsheet system.  Thanks for any advice.  My accountant was unable to help.

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Replying to lionofludesch:
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By jaybee661
19th Sep 2012 16:20

@Lesley22

... firstly, how come your accountant was unable to help - might be time to switch!

I would highly recommend Xero and use it across my practice now - the 'tracking' feature on it may well be just what you're looking for with regard to keeping separate records for letting rooms as you can assign a category to each invoice if you wish.

Xero's help centre is fantastic, there is always an answer within 24 hours in my experience.

PM me if you would like some more information.

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By Lesley22
19th Sep 2012 16:57

Software package for small hotel

Thank you for the reply - we just changed to these accountants in March 2011 - our previous accountant had been ill for some years.  They are a large company here in the south west and we are still 'getting to know each other'.  With the chaos inherited from our previous accountant I think I need to stay with these at least until the tax situation is sorted out!  I did ask them for recommendations for a software package but didn't receive a reply.  I will have a look at Xero, the cost seems reasonable...... 

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