Accounting software

[swiftax]

Anyone has suggestion for a good accounting software. A client who owns a computer business approached me to do his accounting for 2007. He gave me list of receipts and bank statements. This will be my first exposure of doing this kind of work. What are the risks and rewards?

I appreciate any advise.

Thanks much

Jeff

[Catherine]

You could look at QuickBooks Simple Start -- it's free, but limited as to how many vendors and clients can be entered. I have a tax client (computer consultant) I put on QBSS -- they have two or three corporate clients, and their main vendors are Staples (and equivalents), internet access, and stamps. It works _way_ better than the Excel spreadsheet they used to give me, where I could barely tell income from expense the crazy way they tracked it all.

Rewards: you get clearer records for taxes. income in the "off" seasons. if you're good -- and they're not -- they'll think you walk on water.

Risks: that you'll spend eight years fixing the same mistakes time and again and explaining that "available checking balance" is way different from what the bank teller says is in the checking account because the bank _doesn't know_ about those six checks you just mailed ten minutes ago.

How do I know these things, you ask? You get _one_ guess.

Catherine

[samingeorgia]

I don't do a lot of client bookkeeping, but I do like the program I use. I use "Accountant's Relief" produced by Accountant's World (they have a website under this name). The program is fast, costs about $ 600 per year, and produces SSARS-compliant financials. Unlike Quickbooks, it uses the familiar "journal" approach to double entry bookkeeping, i.e., it has an audit trail.

I'm using it for once-a-year tax / financial statement clients - just set the preferences to "one period" and enter everything in one pass. This gives me a good G/L and nice-looking financials.

The cost might seem high for just one client, but if you charge them right, you can do OK, and will have the program for other clients.

Accountants World is also pushing an online version of this program that can be bought on a pay-per-client basis; that would lower your cost.

Sadly, you will, no doubt, have to also have Quickbooks on your computer so you can fix clients foul-ups (Cash on hand negative $ 32,580 is typical), but for me, if my name is going on it, I want something that looks more professional and has a decent audit trail.

[Lucho]

You could look at QuickBooks Simple Start -- it's free, but limited as to how many vendors and clients can be entered. I have a tax client (computer consultant) I put on QBSS -- they have two or three corporate clients, and their main vendors are Staples (and equivalents), internet access, and stamps. It works _way_ better than the Excel spreadsheet they used to give me, where I could barely tell income from expense the crazy way they tracked it all.

Rewards: you get clearer records for taxes. income in the "off" seasons. if you're good -- and they're not -- they'll think you walk on water.

Risks: that you'll spend eight years fixing the same mistakes time and again and explaining that "available checking balance" is way different from what the bank teller says is in the checking account because the bank _doesn't know_ about those six checks you just mailed ten minutes ago.

How do I know these things, you ask? You get _one_ guess.

Catherine

Catherine. will youp please tell me how to start if I want to try it out. Do I buy the QBSS software first or just go to their web site and download the free program you discribe.

Thank you for your help.

[swiftax]

Thank you all. I like Catherine's idea and will try QBSS.

Jeff

[swiftax]

Heard about this: http://proadvisor.intuit.com/content/progr...ew.jhtml?lid=qb

What do you think?

Thanks

Jeff

[Alpha]

I am certified in both QB and Microsoft accounting. They both have a free version that works very similar. I like the QB one better but the Microsoft one is not as restrictive on the free version.