Accounting Software

[Taggs101]

Having gone over a number of posts on the forum it appears that many contractors have problems with accountants.

As a newbie I would be interested to know if anybody does all their own accounting themselves, and if so do they use any type of accounting software.

[QwertyBerty]

Having gone over a number of posts on the forum it appears that many contractors have problems with accountants.

As a newbie I would be interested to know if anybody does all their own accounting themselves, and if so do they use any type of accounting software.

Yes. Excel only.

QB.

[XLMonkey]

I use Quickbooks 2006, though this is in addition to having an accountant. It works well enough once you've got your head around it.

I don't recommend operating without an accountant, though - they should be able to save you enough time and money to justify their fees, and if they don't then you should get a different one.

[Alan @ BroomeAffinity]

I'd suggest an Excel spreadsheet AND an accountant.

There are a number of people disgruntled with their accountant on this post but this is because nobody is likely to post about how good their accountant is. I wouldn't be put off by these posters but do seek referrals and research your accountant throroughly.

If you absolutely insist on not using an accountant then have a look at www.moneysoft.co.uk. There's a good simple book-keeping package which could suit. (I'd still get an accountant though!)

[moorfield]

Old version of MS Money + accountant for me too.

[Lewis]

I'd suggest an Excel spreadsheet AND an accountant.

Me too.

[chris79]

I use Sage Instant Accounting and instant payroll and I do all my own book keeping / accounting / payroll. Takes maximum 10 mins per week to keep it updated..

Simple as:-

1) Money in.

2) Money out.

Check the balance at the end matches your bank balance (business account).

End of year payroll - do it myself, Sage send you a booklet with step by step instructions. Forms are submitted online through their software pre-filled in etc.

End of year accounts (CT600 - corporation tax) I pay an accountant to do this.

[chris79]

I'd suggest an Excel spreadsheet AND an accountant.

There are a number of people disgruntled with their accountant on this post but this is because nobody is likely to post about how good their accountant is. I wouldn't be put og off buy these posters but do seek referrals and research your accountant throroughly.

If you absolutely insist on not using an accountant then have a look at www.moneysoft.co.uk. There's a good simple book-keeping package which could suit. (I;d still get an accountant though!)

You forgot to tell him you are an accountant yourself and that your post is not in any way bias.

[Alan @ BroomeAffinity]

Sorry - I am an accountant and my post is in no way biased. That better?

[aceboy]

Having gone over a number of posts on the forum it appears that many contractors have problems with accountants.

As a newbie I would be interested to know if anybody does all their own accounting themselves, and if so do they use any type of accounting software.

I use Excel. And my accountants are great