How do you keep your books in order?

Alan Mc Donald · 07-16-2009, 04:50 PM

hey guys, i was just wondering how do you all keep track of your expenses/purchases/income/invoices etc?

do you use software or do you just use an excel template?

can somebody recommend software that is easy to use for a beginner,i dont want anything overcomplicated packed with features ill never use, just something thats simple to use

cheers

alan

dvduval · 07-16-2009, 06:14 PM

I got my accountant to train my wife and I on quickbooks. It is really quite simple now that we got some help, and it only took about 2 hours of training.

KPKP · 07-16-2009, 07:49 PM

Quickbooks is an expensive, easy to learn, and easy to use solution.

AmyBrown · 07-16-2009, 08:05 PM

Quote:

Originally Posted by KPKP

Quickbooks is an expensive, easy to learn, and easy to use solution.

Surely you meant inexpensive.

A third for Quickbooks. I run 3 offline businesses in addition to online and I'd be lost w/o it. I forward the files quarterly to my accountant and she takes care of the rest.

jacktackett · 07-16-2009, 08:13 PM

I use a combination of quick books and excel. I do as much work as possible before taking everything to my CPA to do my taxes. This cuts down on his hourly rate.

I also pay for 1 hour of his time about September to review and see if there's anything I should do to minimize my taxes or chance of an audit.

--Jack

flamingleaf8 · 07-16-2009, 08:19 PM

I would say excell will do the job. Very easy to do. and it does computations, and graphs...

tomcam · 07-17-2009, 02:02 AM

I use Quickbooks Online and a bookkeeper. Quickbooks Online is dissimilar to its offline cousin and inferior in every way, except that I work from all over the place so web-based is important.

I also spend $30,000 on bookkeeping and filing services to track receipts, deal with state tax issues, etc.

tomcam · 07-17-2009, 03:12 AM

I use Quickbooks Online and a bookkeeper. Quickbooks Online is dissimilar to its offline cousin and inferior in every way, except that I work from all over the place so web-based is important.

I also spend $30,000 on bookkeeping and filing services to track receipts, deal with state tax issues, etc.

HR_MBA · 07-17-2009, 03:14 AM

excel is handy. also be sure to keep a hard copy in a physical ledger, you never know what might happen to your computers data

Alan Mc Donald · 07-17-2009, 03:53 AM

seems like quickbooks is the software of choice, ill check it out

but.. if i did want to use an excel template, is there somewhere i can buy templates (i havnt used excel in years)

or would someone be willing to share an excel template?

thank you

alan

Graham Maddison · 07-17-2009, 10:10 AM

I set up a free basic accounting spreadsheet a while back and offered it to fellow warriors for a limited period.

If you missed it last time round, you can grab it here now.

Free accounts spreadsheet

Graham

Quote:

Originally Posted by Pattaya-Addict

seems like quickbooks is the software of choice, ill check it out

but.. if i did want to use an excel template, is there somewhere i can buy templates (i havnt used excel in years)

or would someone be willing to share an excel template?

thank you

alan

livewellfinancial · 07-17-2009, 12:03 PM

Excel will do a job. Excel is handy.

NTN · 07-17-2009, 12:09 PM

Quickbooks. Works great.

bechelle · 07-17-2009, 12:31 PM

Quick books offers a free simple version of their software.

Small Business Accounting Software from Intuit QuickBooks

HTH

Rose Sorrells · 07-17-2009, 07:10 PM

I think a small business owner should stay away from the sole use of spreadsheets, especially if the business grows. Start right, with the correct setup in QuickBooks (or another program), and go (and grow) from there.

Contingent on where you bank, your transactions will automatically sync with QuickBooks, which makes matching and statement reconciliation a breeze.

Another tip- if you're working with a CPA, it's far easier for the CPA to import the QuickBooks file with accounts properly mapped to the corresponding tax lines vs. submitting a spreadsheet that the CPA will have to then use to manually enter numbers into his/her tax program. Redundant and makes for errors. Just food for thought.

No spam intended, but I am a Certified QuickBooks ProAdvisor who offers clients up to a 40% discount on QB products. I work remotely, too, should anyone ever need any help;o)

gianne2705 · 07-17-2009, 08:47 PM

I manually keep my statements in an excel form.With a small business,i'm still making ways to less my expenses.With the software,i heard quickbooks are good in handling the computations for a business.

Alan Mc Donald · 07-18-2009, 02:27 AM

thank you for sharing you template graham

So rose how much is quick books pro inclding your 40% discount?

its seems there are different versions of quickbooks for different countries, does this mean each of them are tailored to each countries, like tax rates, VAT rates etc

07-16-2009, 04:50 PM	#1
Alan Mc Donald Advanced Warrior Join Date: Mar 2009 Location: Ireland Posts: 557 Thanks: 168 Thanked 60 Times in 53 Posts Contact Info	How do you keep your books in order? hey guys, i was just wondering how do you all keep track of your expenses/purchases/income/invoices etc? do you use software or do you just use an excel template? can somebody recommend software that is easy to use for a beginner,i dont want anything overcomplicated packed with features ill never use, just something thats simple to use cheers alan

07-16-2009, 06:14 PM	#2
dvduval phpLD master War Room Member Join Date: Dec 2006 Location: Silicon Valley Posts: 3,120 Blog Entries: 3 Thanks: 49 Thanked 334 Times in 273 Posts Social Networking	Re: How do you keep your books in order? I got my accountant to train my wife and I on quickbooks. It is really quite simple now that we got some help, and it only took about 2 hours of training.
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07-16-2009, 07:49 PM	#3
KPKP Warrior Member Join Date: Jul 2009 Posts: 19 Thanks: 0 Thanked 0 Times in 0 Posts	Re: How do you keep your books in order? Quickbooks is an expensive, easy to learn, and easy to use solution.
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07-16-2009, 08:13 PM	#5
jacktackett Socrates: I drank What? War Room Member Join Date: May 2007 Location: Cary,NC , USA. Posts: 1,401 Blog Entries: 1 Thanks: 846 Thanked 506 Times in 279 Posts Social Networking Contact Info	Re: How do you keep your books in order? I use a combination of quick books and excel. I do as much work as possible before taking everything to my CPA to do my taxes. This cuts down on his hourly rate. I also pay for 1 hour of his time about September to review and see if there's anything I should do to minimize my taxes or chance of an audit. --Jack
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07-16-2009, 08:19 PM	#6
flamingleaf8 Active Warrior Join Date: Jun 2009 Location: NY Posts: 36 Thanks: 4 Thanked 0 Times in 0 Posts	Re: How do you keep your books in order? I would say excell will do the job. Very easy to do. and it does computations, and graphs...
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07-17-2009, 02:02 AM	#7
tomcam Tom Campbell War Room Member Join Date: Jan 2007 Location: Seattle, WA Posts: 396 Blog Entries: 13 Thanks: 294 Thanked 122 Times in 65 Posts Social Networking	Re: How do you keep your books in order? I use Quickbooks Online and a bookkeeper. Quickbooks Online is dissimilar to its offline cousin and inferior in every way, except that I work from all over the place so web-based is important. I also spend $30,000 on bookkeeping and filing services to track receipts, deal with state tax issues, etc.

07-17-2009, 03:12 AM	#8
tomcam Tom Campbell War Room Member Join Date: Jan 2007 Location: Seattle, WA Posts: 396 Blog Entries: 13 Thanks: 294 Thanked 122 Times in 65 Posts Social Networking	Re: How do you keep your books in order? I use Quickbooks Online and a bookkeeper. Quickbooks Online is dissimilar to its offline cousin and inferior in every way, except that I work from all over the place so web-based is important. I also spend $30,000 on bookkeeping and filing services to track receipts, deal with state tax issues, etc.

07-17-2009, 03:14 AM	#9
HR_MBA HR Specialist Join Date: Jul 2009 Posts: 11 Thanks: 0 Thanked 0 Times in 0 Posts Social Networking	Re: How do you keep your books in order? excel is handy. also be sure to keep a hard copy in a physical ledger, you never know what might happen to your computers data

07-17-2009, 03:53 AM	#10
Alan Mc Donald Advanced Warrior Join Date: Mar 2009 Location: Ireland Posts: 557 Thanks: 168 Thanked 60 Times in 53 Posts Contact Info	Re: How do you keep your books in order? seems like quickbooks is the software of choice, ill check it out but.. if i did want to use an excel template, is there somewhere i can buy templates (i havnt used excel in years) or would someone be willing to share an excel template? thank you alan

07-17-2009, 12:03 PM	#12
livewellfinancial Live Well Financial :) Join Date: Jul 2009 Location: United States Posts: 58 Thanks: 2 Thanked 5 Times in 4 Posts Social Networking	Re: How do you keep your books in order? Excel will do a job. Excel is handy.

07-17-2009, 12:09 PM	#13
NTN Banned Join Date: Jul 2009 Posts: 15 Thanks: 1 Thanked 0 Times in 0 Posts	Re: How do you keep your books in order? Quickbooks. Works great.

07-17-2009, 12:31 PM	#14
bechelle HyperActive Warrior War Room Member Join Date: Nov 2007 Location: USA Posts: 119 Thanks: 5 Thanked 0 Times in 0 Posts	Re: How do you keep your books in order? Quick books offers a free simple version of their software. Small Business Accounting Software from Intuit QuickBooks HTH
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07-17-2009, 07:10 PM	#15
Rose Sorrells Warrior Member Join Date: Jul 2009 Location: North Carolina Posts: 2 Thanks: 0 Thanked 0 Times in 0 Posts	Re: How do you keep your books in order? I think a small business owner should stay away from the sole use of spreadsheets, especially if the business grows. Start right, with the correct setup in QuickBooks (or another program), and go (and grow) from there. Contingent on where you bank, your transactions will automatically sync with QuickBooks, which makes matching and statement reconciliation a breeze. Another tip- if you're working with a CPA, it's far easier for the CPA to import the QuickBooks file with accounts properly mapped to the corresponding tax lines vs. submitting a spreadsheet that the CPA will have to then use to manually enter numbers into his/her tax program. Redundant and makes for errors. Just food for thought. No spam intended, but I am a Certified QuickBooks ProAdvisor who offers clients up to a 40% discount on QB products. I work remotely, too, should anyone ever need any help;o)

07-17-2009, 08:47 PM	#16
gianne2705 HyperActive Warrior Join Date: Jun 2009 Posts: 121 Thanks: 0 Thanked 3 Times in 3 Posts	Re: How do you keep your books in order? I manually keep my statements in an excel form.With a small business,i'm still making ways to less my expenses.With the software,i heard quickbooks are good in handling the computations for a business.

07-18-2009, 02:27 AM	#17
Alan Mc Donald Advanced Warrior Join Date: Mar 2009 Location: Ireland Posts: 557 Thanks: 168 Thanked 60 Times in 53 Posts Contact Info	Re: How do you keep your books in order? thank you for sharing you template graham So rose how much is quick books pro inclding your 40% discount? its seems there are different versions of quickbooks for different countries, does this mean each of them are tailored to each countries, like tax rates, VAT rates etc