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New business - need book keeping help ?


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Do you mean you need to use it for stock control? My husband chose quickbooks for our business but we are a service provider so don't use it to control stock. Its much easier to do VAT using this software than calculating it manually.

 

We have only ever had to use their support once but we were very impressed with their response.

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you need to have idea about accounting! you can use billing system, i think they have statistics included to help you keep an eyes on all transactions and how much money you spend and get! sometimes, its downloadable in pdf format! their are one open source check it on softaculous dot com/ softwares

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tbh i just use good old MS excel! I have Sage but dont have a clue how to use it and dont have the time to spend learning at the moment. I find excel is totally fine and as i already know how to use it, it was the easiest option. No point over complicating things until you have a need for the additional features

 

edit: i did find though that it helped to read through the tax return help pages to see what records need to be kept and how to do it/what should be on them.

Edited by Ha3el
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Quickbooks is easier than Sage. I use an excel sheet to log my workflow but I wouldn't like to try and use it for the VAT returns with a large turnover and lots of transactions. If you enter everything in the correct category Quickbooks works everything out for you. We only pay an accountant to do our year end accounts.

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As an accountant, most businesses that are just starting up don't need and accountant or a book keeper, unless of course they have a high turnover.

 

Depending on the nature of the business and what it does will determine your requirements for accounting software. However, most basic companies will not require sage or a quickbooks. Excel is the perfect software.

 

You need to keep track of your income, your expenditure and any transfers and also stock if your carrying it.

 

You ideally need a separate bank account and should buy for your business out of that account, investments can be put in the account.

 

Bear in mind tax is serious and the tax man takes it very seriously, any messing about can cost a lot of money. In your first year or part year, get advice on the tax return - an accountant will be able to help you make the most or your allowances and capital purchases.

 

 

Ollie

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As an accountant, most businesses that are just starting up don't need and accountant or a book keeper, unless of course they have a high turnover.

Ollie

 

As an accountant I totally disagree it is important to see an accountant from day one. Most of us do not charge for an initial appointment so the information you get is free.

 

On setting up you need to discuss the best business structure for you, how to register with HMRC, it is also a good idea to know which taxes you will need to pay as well as discuss the bookkeeping issue.

 

To many people come to late and this generally costs them in tax.

 

It is impossible to know what is the best accounting package for you without knowing more about you and your business.

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