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Require good accounting software for my new practice

Require good accounting software for my new...

Looking for a cheap accounting package for upto 5 clients. I like quickbooks, Sage and TAS but they are too expensive.  I wasnt  impressed with VT as it didn't seem to be particularly user friendly. 

Want to pay around £200.

Would appreciate any inputs.  I wondered if there was any new accounting software in the market that someone could recommend.

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By seitler
02nd May 2013 23:18

Have another look at VT+

and reconsider your decision

Thanks (3)
03rd May 2013 07:54

Agree
With seitler. Spend a bit more time on VT.

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03rd May 2013 08:16

Agreed.  VT is fine, and at

Agreed.  VT is fine, and at the right end of the spectrum for your needs.  If your clients are companies you will also need a CT package.  Look at Taxcalc and BTC.

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03rd May 2013 08:30

VT

Its a must have in your locker for any small practice.

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By Monsoon
03rd May 2013 09:26

VT is lush

We use VT and love it.

As bookkeeping software, I like Sage, old-style QB, Xero, Solar etc. If you like any of these, you should get to grips with VT. I think it's really user friendly and easy to pick up.

Seriously, for the price you're looking for, it's the only option - AND it links directly to final accounts. From a perfect set of books in VT T+ you're looking at less than an hour to get a final set of company accounts in simple cases. What's not to love?

 

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03rd May 2013 11:45

VT

If VT didn't seem user friendly ... spend 5 minutes looking at the user manual ... It really is the easiest to use software I have come across

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By chatman
03rd May 2013 16:14

VT

I agree. Have another look. I have not found anything more user friendly. There is a VT users group on AWeb where people are always willing to help out with queries.

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03rd May 2013 16:31

What do you want?

What sort of clients do you have?

Could you do it on Wave(free), Kashflow or Freeagent?

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07th May 2013 10:25

QuickBooks is multi-company at no extra charge

Hi there,

I head up the accountant programmes at Intuit UK, and was wondering if you knew that QuickBooks is multi-company at no extra charge?  You can set up as many sets of accounts as you wish, for the one licence fee (as long as you are the only person accessing those accounts.)

The ProAdvisor Programme would be your best value because it includes about £1800 worth of software, payroll, unlimited UK-based tech support, etc, but at £32/mo is a bit out of your price range.  But you can usually pick up a copy of QuickBooks Pro at one of the online retailers (Staples, Amazon, etc) for around £150. 

Please let me know if you need/want any additional information?

Sincerely,

Alison Ball

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07th May 2013 10:44

VT & BTC

Hi there

I also swithered about VT but stick with it and now happy with the interlink between VT & BTC for my corporation tax calcs. The good thing is if you are hoping to grow then the cost does not increase.

Sincerely

Melissa

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07th May 2013 11:06

QuickBooks

yes if you join the profesional advisers program you get a great deal at a cost of about £30 permonth. i differ from many i think the functionality on QB, if you need it it, is far far superior to VT  -the question is do you need it and integrated payroll is thrown in . I RECOMMEND QB

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07th May 2013 11:09

AND CAN YOU CLARIFY

exactly what type of software are you looking for  bookkeeping , stat acs or other

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07th May 2013 11:27

Try Money Manager (Moneysoft.co.uk) it is multi currency and can be used for more than 1 company - the problem at they have recently introduced a new version of Money Manager - the bookkeping system - and are developing its final accounts package  these are seemlessly interlinked for preparing annual statements / accounts etc.  The original two programmes worked well.

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07th May 2013 12:22

serendipity

I emailed George @ moneysoft this morning re this. Final Accounts upgrade will be ready later in  the year. Money Manager is a great program as well BUT I would like to see the 2 combined at some stage . I also have some issues with FA so I must address these with George , but yes as a value for money multi-co feature rich bookkeeping product you cant really beat it and it copes with flat rate VAT

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07th May 2013 14:37

gotta be sumfink for IOS . . . . surely?

If I'm right VT+ is designed for Windows . . . . Quickbooks too (I think) . . . . is there anybody who can recommend decent accounts software for a Mac?

Chris.

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By chatman
to Steven Briginshaw
07th May 2013 14:58

Accounting Software for Macs

lh3f9764bg1g wrote:
is there anybody who can recommend decent accounts software for a Mac?

Xero and Kashflow, because they are cloud-based. There is also Quickfile, which is free, and also cloud-based.

I think one of the problems with Macs, though, is that you are always going to have difficulty finding specialist software for them.

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08th May 2013 11:03

Accounting Software for Macs

Hello,

Alison again from Intuit - We also have QuickBooks Online UK which is Mac compatible because it is cloud-based. 

If you would like to gain access to our free ProCloud Partner Programme, which includes QuickBooks Online for Accountants at no charge, please go to this site to learn more: 

http://www.intuit.co.uk/quickbooks/accounting-software/accountants/procl...

Cheers!

 

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08th May 2013 13:28

access, download and convert!

Many thanks, Alison, for the link. However, I'm not sure that QuickBooks is the type of thing that I'm interested in (excellent though I'm sure it is). The reason I say that is because I think that whilst the results may be excellent and the process easy enough to navigate I just wonder whether it is likely to actually save any time in a nuts and bolts kind of way. I'm looking for something very basic and flexible. An incomplete records process rather than a complete records process that is easy to use, save time and which produces a good end "product". I need something that is as clear and flexible to use as an analysis pad used to be . . . . but which saves me the time that I would have once spent in the days of analysis pads. I have a sneaking suspicion that VT could be the answer . . . . but because it is neither cloud nor Mac based it would seem not to be an option. Ah well! Many of our clients nowadays use online banking . . . . therefore there's alot of information already gathered that ought to be at our fingertips. But is there any software that can (given the necessary authorities from clients) access, download and convert into spreadsheet form this information? Not that I can see! How much time a product like this would save!

Chris.

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to lesley.barnes
20th Mar 2014 15:06

Incomplete Records - Convert statements easily

Hi Chris,

Such a product exists that saves accountants plenty of time in ‘a nuts and bolts kind of way.’ This accounts preparation software is specifically developed for accountants in practice who deal with incomplete records clients.

Using AutoRec it is very easy to make any changes to your transactional information that you need. For example you can easily select cheques or lodgements and mark them as the previous period. You can then export only the transactions for previous or current period. Or you can search for all your debits and exclude your cheques and export that data all in seconds. The system is very similar to excel but easier to filter. You can easily filter any information that you need and simply export that information to a digital file. You can also simply make any changes to descriptions, values or any other information that is presented on your client’s bank statements.

The main benefit of AutoRec is that it is easy to use, saves you time and allows you to export your data to your accounts production software, such as VT, Sage, Quickbooks, CCH, Xero, Digita and many more. Our clients use AutoRec to save time compared to manually typing up transactions from bank, online or visa statements.

To give you an idea you can reconcile 50 pages of bank statements and complete a payment and receipt analysis in about 25 minutes using AutoRec.

If you had a sample of about 10 – 15 statements I would be happy to show you how AutoRec will convert the information to a simple spreadsheet such as Excel, CSV or XML?? I’ll send you the converted file after also so you can see how the information is exported.   

Regarding your issue with Mac, you can use AutoRec on a Mac once you have a windows operating system. One of our developers uses a Mac with AutoRec and it’s no problem.

You can additionally have a look at these other discussions that address this issue of dealing with incomplete records clients specifically.

https://www.accountingweb.co.uk/anyanswers/question/bank-statement-reader

https://www.accountingweb.co.uk/anyanswers/question/bank-rec-software#comment-611741

Hope this helps Chris! 

Thanks,

Karen

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By chatman
08th May 2013 15:00

QuickBooks

I have had terrible experience with QuickBooks. As a result, I would not recommend any of their products.

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08th May 2013 15:09

@chatman

it wasnt always like that was it ? upgrade hell?

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By chatman
08th May 2013 15:45

@Carnmores

Yes

I have had problems with files not being compatible with later versions (forced upgrades);the VAT is horrendously complicated and you cannot drill into any brought forward amounts in a VAT return to see what they are made up of;there is no free support, and the paid support is awful;importing transactions is so complicated, even with a third party programme to help, that I gave up trying from QB2008;you cannot use files of QB later versions with Dropbox, Sugarsync,Wuala etc;the data files are enormous since about QB2008;the US date bug which Intuit periodically reintroduces is irritating, but a minor problem compared to the first five;QB Simple Start seemed to send all sales receipts to the unallocated cash account without the option to do anything else with it.

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08th May 2013 16:03

Those observations (from chatman) are an example of some of the reasons why I'd welcome a simple, transparent product that's totally flexible (without a crazy audit trail for those frequent times when changes have to be made. I don't want forced upgrades and I want to be able to use a product across several platforms (which is why a cloud based product might be of interest). What I definitely DO NOT want is a pretty interface that hides all the gubbins of the machine. I want to be able to SEE the innards of the machine and to make changes as and where I think appropriate. Practitioners need a different sort of product from non-practitioners. We need something with flexibility. Something that saves time (rather than distribute it in a different way).

Chris.

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By rota2
08th May 2013 16:21

QuickBooks

I found QB paid for support was poor. Eventually they failed to get the software working at all and could not offer a solution, so I don't use it. 

Support from Sage I have found to be good. I don't think they would let you down, but are pricey.

However, for my clients VT and Xero I have found to be best. I agree VT appears daunting at first, but with a little persistence well worth the effort.

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13th May 2013 21:38

Good Accounting Software - VAT & Quckbooks

 

I use QuickBooks for many clients for VAT  & bookeeping requirements. In particular in response to the VAT issue:-

Standard VAT returns are straight forward to process and can be filed online.Brought forward amounts are  fully drillable - I have just done several this month and used this feature.  In addition their is an exception report that indicates any changes, addtitions or deletions since previous quarters.If clients enter their own figures you can set it up so a closing date password is set after the VAT return, making it more difffcult to change the figures once filed.You can opt for Cash or Accrual for each client.

Perhaps download the free trial version and have a look at a sample file to see if it meets your requirements.  I it very user friendly especially for the small to medium size business & affordable for a small practice .

 

 

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By chatman
to digi
14th May 2013 00:11

QuickBooks Bugs and Faults

roshodgson wrote:
Brought forward amounts [in QB VAT reports] are  fully drillable

Not in my version (2008) they're not. Maybe they are in later versions, but that is the problem with QuickBooks: they introduce bugs into later versions and force you to "upgrade" to them. When you complain about things like non-drillable b/fwd amounts or the inability to export dates properly they say "Ah, that is fixed in the new version". I have no doubt that if b/fwd amounts are drillable in the latest version, they have introduced a new fault.

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14th May 2013 00:43

For your price..
It has to be VT. if you are on a Mac run it in a windows sandbox. I think Parallels is one such product.

I used Quickbooks Enterprise for one client and after being sold the product for its integration features I found that it delivered on none. It was poor.

As to the comment re integration of bank information into accounting software there is only Xero who can truly compete on that area, they seem to have the bank feed market stitched up from top to bottom in many countries.

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14th May 2013 09:43

less expensive solutions?

I have had a bit of a look at Xero but don't yet know much about it. What worries me is that, apparently, I'd have to get my clients to enrol and each and every one of them would be committed to a monthly subscription. Is that the case? Isn't there a solution for accessing online banking that doesn't result in software providers benefitting to the extent of thousands of pounds per year? Also, which banks can be used (i.e. to access their online banking)? Surely the bank records are stored in a standard format? If they are stored in a standard format then isn't there any software that could access those records for multiple clients if we are given the necessary authorities from those clients? This doesn't seem to me to be a case where an extensive understanding of rocket science is required.

The banks have already amassed the necessary information. That information is simply text, numbers and dates. Surely there's SOME software that would allow us to import this basic stuff into a simple spreadsheet?

Why do we have to keep re-inventing the wheel? What's the point of us compiling another set of records from scratch (i.e. the bank analysis) whenever the banks have that information sitting at their fingertips.

There are so, so many inexpensive solutions for so many much more complicated things (just look at the bucket-prices charged for apps) and I just don't understand why things have to be so costly. I'm just looking an extra tool for my toolbox - not a Swiss Army Knife cure-all. Why is that our industry keeps coming up with complicated and expensive solutions rather than simple, affordable ones? Google, for example, didn't get where it is today by charging . . . . no, it got where it is today by NOT charging! Ditto YouTube. This is the lesson of recent computing history. This is the lesson that software writers working within this industry have not yet learned. We don't just need cloud computing . . . . we need (to get two cliches into one sentence as I am wont to do) blue sky thinking.

I wouldn't mind something that costs a few hundred pounds a year . . . . but I don't want to get involved in something that's going to result in thousands of pounds being spent each year by us and/or our clients for what would be a simple interface between a bank's (already accumulated) records and an Excel spreadsheet. I mean . . . . . come on guys . . . . the information is just SITTING there!

Aaaaaarrggghhhhhhhhhhh ! ! ! !

Chris.

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to DPS
14th May 2013 13:11

Client charges

We use XERO for some of our clients and we pay a subcription for each client enrolled on to XERO. However the subscription charge is included in the fee we quote our clients.

 

Alex 

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By chatman
to DPS
14th May 2013 19:12

Yodlee

lh3f9764bg1g wrote:
Isn't there a solution for accessing online banking that doesn't result in software providers benefitting to the extent of thousands of pounds per year? Also, which banks can be used (i.e. to access their online banking)? Surely the bank records are stored in a standard format? If they are stored in a standard format then isn't there any software that could access those records for multiple clients if we are given the necessary authorities from those clients?

There's Yodlee, which Xero uses. Of course it suffers from the same security issue that Xero has (i.e. once you have given them your login details your bank holds you responsible for any misuse of them), but the risk is reduced if your bank uses multi-factor authorisation (i.e. one of those little calculator-like things).

You could import Yodlee-extracted bank data into VT.

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14th May 2013 10:48

the information is just SITTING there!

Behind layer upon layer of security which I am thankful is there...

I think you are wanting to have your cake and eat it. You have information that you cannot readily access for security reasons. You want that information to compile your accounts. You either download it from the bank into CSV files and create a spreadsheet cashbook yourself, which is perfectly reasonable, or you pay someone to access that information for you and they help allocate it too.

I think the point your missing is that if someone accesses it for you and saves you significant time then it isn't unreasonable to charge.

It's quite sophisticated really if you think about it, and at the prices charged I don't think it's unreasonable. Maybe you're charging too little?

 

 

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14th May 2013 10:53

Pasting Bank transactions.

You can do batch transactions in QuickBooks - it is a cut and paste from excel - so you could just download the transactions then paste.  You have to configure the headers in to match your spreadsheet first but its worth testing to see if its what you need. If you are with HSBC or Barclays you can import straight into the bank register.  Worth a look - with most good brands doing trial versions it's worth investing the time to try before you buy!

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to Ruddles
14th May 2013 11:00

.

roshodgson wrote:

You can do batch transactions in QuickBooks - it is a cut and paste from excel - so you could just download the transactions then paste.  You have to configure the headers in to match your spreadsheet first but its worth testing to see if its what you need. If you are with HSBC or Barclays you can import straight into the bank register.  Worth a look - with most good brands doing trial versions it's worth investing the time to try before you buy!

 

Apparently you can no longer use HSBC with Quickbooks (offline) 2013.

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By chatman
to Ruddles
14th May 2013 19:19

Nightmare of Importing Transactions to QuickBooks

roshodgson wrote:
You can do batch transactions in QuickBooks - it is a cut and paste from excel - so you could just download the transactions then paste.

What does this mean? Does it mean you can easily import transactions into QB by simply copying and pasting them? Importing transactions to QB was always more trouble than it was worth so, even though this may be a new feature, I am very suspicious of any claim that it is easy.

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14th May 2013 11:37

data monster

With respect, cparker87, I think you might misunderstand me. I would have no problems paying a reasonable price (even Sage-style prices), and I don't want a free solution. I just don't want to hump another couple of hundred quid a year of expenses onto each client . . . . there's a recession on you know! As to whether I'm charging too little . . . . . I don't think my clients would necessarily agree with that suggestion! Also, any solution would have to be reasonably automated. There'd be no point, would there, in having to set-up a fresh spreadsheet each time? The way I see it the bank already knows the date, the amount, the ref. no. (e.g. cheque no. or transaction no.) and the dialogue/text so it just can't be rocket science to because I don't want any analysis of fancy presentation I just want access to the raw data from many different banks and for, say, a hundred clients. I can do all the fancy stuff myself:-). If I could just download the data accurately and in a standard format I'd stop whingeing. Data, data . . . . . gimme the data!!

Chris.

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to bigmuggsy
14th May 2013 14:25

.

lh3f9764bg1g wrote:

With respect, cparker87, I think you might misunderstand me. I would have no problems paying a reasonable price (even Sage-style prices), and I don't want a free solution. I just don't want to hump another couple of hundred quid a year of expenses onto each client . . . . there's a recession on you know! As to whether I'm charging too little . . . . . I don't think my clients would necessarily agree with that suggestion! Also, any solution would have to be reasonably automated. There'd be no point, would there, in having to set-up a fresh spreadsheet each time? The way I see it the bank already knows the date, the amount, the ref. no. (e.g. cheque no. or transaction no.) and the dialogue/text so it just can't be rocket science to because I don't want any analysis of fancy presentation I just want access to the raw data from many different banks and for, say, a hundred clients. I can do all the fancy stuff myself:-). If I could just download the data accurately and in a standard format I'd stop whingeing. Data, data . . . . . gimme the data!!

Chris.

 

If Xero or some other such automated feed is used to its full potential, e.g. by engaging with the client to perhaps, raise invoices, or input purchase invoices, then coupled with the bank analysis I reckon the time savings are worth the monthly fee.

I agree it is slower to input data into these cloud packages but they really are the way forward.

Not sure of other packages but if you use Xero and you handle the subscriptions you can get a discount for each additional subscription, you can pass that on to your Clients of course.

I think you'll just have to go with the flow

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14th May 2013 11:52

Intuit - QuickBooks

 

Hello. I just wanted to drop in a couple of points/update from Intuit. Whilst not addressing the initial topic of a cloud based incomplete records solution, they may be of interest to those who use QuickBooks.

Intuit now provides software that is backward compatible, e.g. QuickBooks 2013 can open and edit 2012 company files. The version is called QuickBooks Accountants Edition and available with the ProAdvisor Programme.

The face of support is changing with a new onshore support team and dedicated lines for the software mentioned above, ProAdvisors, Premier and Enterprise users. We are also trialing a new website based call back service.

There are a number of ways to import information into and we are currently formalising a cohesive self-help article on this topic which will be available soon on our support site as a result of this forum.

There are 2 options to save ‘lighter’ versions of a full company file; these being mobile and/or accountants copies. As such online storage facilities are utilised for transferring files, caution of course needs to be given to the integrity of data when uploading and downloading.

We are always looking to ensure users have a good experience, never more so than currently. One of our goals is to delight our customers by continuously developing solutions ‘to the tune’ of users - just one of the reasons we have a growing support & technical functions within the UK. 

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By chatman
to richardterhorst
14th May 2013 19:17

Backwards Compatibility of QB

Intuit Andy wrote:
Intuit now provides software that is backward compatible, e.g. QuickBooks 2013 can open and edit 2012 company files.

What about pre-2012 versions? And will future versions be backward compatible with all previous versions, only from 2012, or not at all?

 

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14th May 2013 12:32

VT All the way

I couldn't imagine practice life without VT.  Not only for inhouse book-keeping and accounts prep, but I also regularly recommend it for clients to use.  Very simple to train them, very easy for corrections, very easy for sharing via email/disk transfer, etc.

But best of all, no faffing around with the various different versions which is a killer for both Sage and Quickbooks.  It's about time they realised how much goodwill/custom they lose by constantly issuing new versions and withdrawing support from old versions to force their customer base to keep re-buying.  I used to be both a Sage Accountant club member and a QB Proadviser, but started to realise that I was just another shoddy salesman when I told clients to use on or other, which usually meant them having to rebuy a later version, whether they needed it or not, and also made my life hell by having to have so many different versions on the go at the same time.  

Not any more - now I only have one client on Sage and one on QB - compared with dozens using VT, Kashflow and Freeagent - not recommended Sage nor QB for a couple of years now.  

The fiasco of the 2008 QB update was the death knell for me - I wasted hours/days trying to sort out the VAT disaster - with zero help from QB who kept denying there was even a problem at first.  People don't forget that kind of shoddiness and QB will suffer for years to come in lost goodwill/reputation.

Re the point about the £20-£25 monthly fee for cloud accounting, etc., we absorb it and pay it ourselves because the year end work is usually drastically less when we can keep an eye on the postings throughout the year and make suggestions/corrections along the way.  We're now on just an hour or two at the year end for clients using freeagent, whereas it could be several hours for clients using a spreadsheet, sage or QB.

 

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14th May 2013 14:12

okay, I'm a cheapskate

Thanks for the replies guys  . . . . Especially thanks to Ken H.. I too went down the Intuit route (even back as long ago as Quicken). I have to admit that I got tee-ed off after the 2005 incarnation. The constant updates and the lack of backwards compatibility was enough for me and I won't be going down that route again as I don't want to be ambushed with the need for constant updates and renewals. I have used Sage too . . . . but now only for payroll . . . . what got me there was the problem of making corrections. I don't need a big audit trail when I want to change something I just want to be able to do it! To be honest . . . . from a banking point of view the old Quicken was a class act but Intuit seem to be unable to leave a good thing alone. I don't mind reasonable costs . . . . but if it is £20 or £25 per month PER CLIENT then that to me would NOT be a runner. Besides anything else . . . . . I might have invested alot of time, energy and money into something only to find out it wasn't for me. I'm pretty sure that VT would be exactly the kind of software that appeals to me . . . . the problem is that I use a Mac. Now, okay, we use Parallels . . . . . but there's always problems (i.e. there's ALWAYS problems with Windows anyway, if you ask me!!).

I take it that FreeAgent is that product that is now aligned with Iris OpenBooks? Isn't that a tad expensive?

I'm interested in what Alex S. said too . . . . . but could you tell me Alex, just exactly how much are we talking about per client per month on Xero?

Chris.

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to scalloway
14th May 2013 14:29

.

lh3f9764bg1g wrote:

I'm interested in what Alex S. said too . . . . . but could you tell me Alex, just exactly how much are we talking about per client per month on Xero?

Chris.

 

http://www.xero.com/pricing/

 

Most probably fall in the £19+VAT p/m sector.

 

With discount 15% off each additional they're £16.15+VAT p/m.

 

 

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By chatman
to scalloway
14th May 2013 19:07

Mac v PC

lh3f9764bg1g wrote:
he problem is that I use a Mac. Now, okay, we use Parallels . . . . . but there's always problems (i.e. there's ALWAYS problems with Windows anyway, if you ask me!!).

I think the problem with Parallels (which I assume is some kind of emulator) is that it is an extra layer of technology, and more technology always introduces more scope for problems.

Many years ago, I would have agreed that there were always problems with Windows, but that has not been the case for a long time now. In my opinion, the lower prices of PCs and the greater availability of the software exceeds by far any perceived advantages of Macs. I cannot remember problems with Windows since v3.1; everything seems to work first time.

I would like to go over to Linux, but as an accountant, I cannot see how I could cope with anything other than Windows at the moment.

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14th May 2013 14:56

on the log flume

Guys . . . . I may be in my fifties but I'm no Bob Cratchitt! I've been using computers since the early eighties and I'm all Mac-ed up now and have NO desire to be looking out Windows all day wondering what's wrong with my operating system. Yes, I'd absolutely LOVE to go with the flow. But I want to ensure that a product is going to SAVE money (rather than cost), SAVE time (rather than waste) and produce at least as good an end product as we can manage now (and one that I can understand in depth . . . . right down to the smallest flex of the double-entry muscle). And whilst I'm happy for you that you have found the answer for your practices . . . . there's absolutely no way that I could justify to myself generating £19 x 12 x 100 clients (I can't even bear to do the sum . . . . it is SO outrageous!).

But listen . . . . . thanks for all the valuable info . . . . . I appreciate it.

Chris.

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14th May 2013 15:49

Have you looked at a hosted desktop option? Then you won't be restricted by choice of OS or location as the software will be run remotely? BTW I'm using a Mac and Xero-they have a cash ledger option which is fine for small clients and involves some manual journal posting by me, but I think I make up the cost in time saved not messing around with bank reconciliations! It costs £10 a month. 

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14th May 2013 16:21

information goldmine

Many thanks, Caroline . . . . . I think I'd be worried about the extra potential for security problems that a hosted desktop solution might bring. I'm not sure exactly what the cash ledger option would offer . . . . but if it wouldn't bring the ability to download bank transactions directly into the software then I can't see it being of much me. From an incomplete records point of view . . . . I'd want to know what's in the invoices etc. and what's in the bank . . . . try to reconcile those two as far as possible . . . . then draw conclusions from the unmatched records that remain (e.g. if there's a paid  invoice for van repairs but no payment from the bank then I can infer that payment was made by another method and if there's only one bank account then that'll tell me something how cash has been used . . . . . and if that cash hasn't been withdrawn from the bank or there's no evidenced sales that haven't been lodged then I'll have to draw certain conclusions . . . . . . . anyway . . . . . . . I don't need to explain this . . . . you know how this thing works . . . . . .).

You see . . . . the bank is absolutely KEY and I'm hoping that there's some reasonably-priced way that one might access and utilize the information goldmine that online banking has (almost) made available to us.

Hope you too are enjoying your Mac, Caroline!

Chris.

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14th May 2013 16:39

The cash ledger works in the same way as the rest of the accounting programme except you can't issue invoices and enter bills to be paid. I have worked around that by creating an accruals code (for the bills to be paid) against which i match the payments and sales get posted directly to the sales code from the cash received in the bank feed. I suspect I could set up an accrued income code as well if needed. Otherwise you have the full functionality of the package and the benefit of your clients being able to access their accounts remotely as well. The only bit that is then missing is the detail on cash withdrawals from ATM say-but I treat that as petty cash and whatever is not receipted is then taken as a personal drawing. I think populating the accounts from the bank transactions means that it is much harder for things to slip through the net.

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14th May 2013 17:02

cliche ridden accolade!

Caroline, you seem to have created, with the help of Xero, a pretty cool incomplete records package. Yeah, I think I'll have to investigate your methods a bit further! I'm still trying to get my head around it but . . . . from what you say . . . . especially with regards to your treatment of cash . . . . it seems to go a very long way towards what a cloud-based incomplete records solution should be.

Blue-sky thinking would seem to be an earned accolade in this case!

So . . . . when you say £10 per month . . . . does that mean £10 per month per client?

Chris.

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to stepurhan
15th May 2013 16:45

Yes £10 a client but I can do

Yes £10 a client but I can do a month's bank rec in 15 minutes including importing the CSV-about 40 statement lines so producing a set of monthly management accounts takes around half an hour in a 'normal' month. The time saving makes it very cost effective.

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15th May 2013 11:31

Quickfile

I was wondering . . . . has anybody had any experience of using QUICKFILE? Especially from a multiple-client point of view and an accessing online banking point of view?

Chris.

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15th May 2013 13:17

Happy to show you some of the new features?

Hi Chatman,

I personally think the QuickBooks "copy and paste" function is a very easy way to get certain types of transactions into QuickBooks.  I would be delighted to set some time to show you?  I can set up a webex appointment and show you pretty much anything you would like to see.  Just let me know.  I can be reached at [email protected]

Kind regards,

Alison

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