Can anyone recommend a simple small-business accounting package. I run my business as a sole-trader, am flat-rate VAT registered and like to keep things as simple as possible. I don't have an accountant, formal accounts, balance sheet etc. I've used Quicken 98 for the past 13 years but I think it's time for change.
I want something that I can set up so that it mirrors the expense categories on the HMRC self assessment form,and that I can use as the basis for quarterly flat rate VAT returns. It needs to be robust and simple to use.
If there's a freeware or shareware package so much the better.
Thanks.
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You really dont want to run your business on freeware or shareware, you prepared to take that risk?
Sage has been the the most widely used for years, and being a company started in the UK is most suited to HMC&E requirements.
Starts at £10 month +VAT (you can reclaim the VAT and offset the cost as a legitimate business expense) and you get support.
www.sageone.com/accounts
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Thanks for the tips. I hadn't appreciated that there was a risk associated with freeware/shareware. What's the potential problem with it? My IFA mentioned Sage, and the site looks good (though I can't claim the VAT back as I'm flat rate). I shall investigate further.
Any other suggestions? I was idly considering setting up something bespoke in Excel but my Excel knowledge is very limited indeed.
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>> Thanks for the tips. I hadn't appreciated that there was a risk associated with freeware/shareware.
>> What's the potential problem with it?
Not saying it would, or will, but it has no official support, and it could screw up your data.
Not a problem for Jo public, but I wouldnt base my business on it.
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How many transactions /month is the 1st question. How many invoices do you send out?
Word/Excel is adequate for say 20/30 ins/outs per month.
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>> How many transactions /month is the 1st question. How many invoices do you send out?
>> Word/Excel is adequate for say 20/30 ins/outs per month.
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I send 5-10 invoices each month and make 30-40 payments.
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>> I send 5-10 invoices each month and make 30-40 payments.
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I bet the 30-40 payments could nearly all be paid by credit card - summarise the credit card statement into categories - car maint, car fuel, Insurance, advertising, Stock purchase + Misc - whatever categories you need.
Your 30 -40 lines might be 5-10 and still have analysis built in.
5-10 invoices and 5-10 lines of expense EXCEL is the easy route - that's what I use and it is easy. 1 x spreadsheet with 12 tabs April-March
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Thanks for this. It makes me think that I need to get myself a good book on Excel.
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Microsoft Accounting had some good write-ups a couple of years ago, but I think it`s been discontinued. Sage is OK but fairly complex IMHO.
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Most packages these days are 'in the cloud'.
You could do a lot worse than looking at www.arithmo.co.uk/
It does all that you require at a reasonable cost. I should, however, declare an interest, in that I work Arithmo's parent compnay, but will not gain financially from an additional sale.
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Templates available for Open Office - free software, with free downloadable data sheets for accounting.
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Good Accounts Package - Zero
