Accounting 4 Procrastinators - Ideas?

HConvert

HConvert

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Aug 1, 2009
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I seem to spend way too much time these days on mundane data entry (ie: expenses and revenue) - seeing as I let it all pile up until I panic ;)

I use some decent spreadsheets that run off a server for inter-machine access, but wonder if I'm missing out on a really sweet app (or excel template) that could make this all the more pleasant.


What do you guys use to track all of your invoices and income?
 


Are you familiar with the accounting software developed by Intuit? They have a great menu of options which I would highly recommend.
 
I have not investigated if I can run multiple instances of QB off the same set of centralized data files - it's on my list of things to do ...
 
why would you want to run multiple instances of QB? if you want to input data from several locations, then yes, of course you can do that.

Even if it isn't natively supported you can just use a software like dropbox to create a shared folder within which you hold the QB save files. This way any change you make will be synced.

Although I'm pretty certain QB has an option for this.
 
HConvert said:
I have not investigated if I can run multiple instances of QB off the same set of centralized data files - it's on my list of things to do ...
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you can. put the qwb file on a centralized box and install quickbooks on all the machines you want. you will need 1 license for each concurrent connection to the qwb db, so be sure to exit the app when youre done.
 
1.) Get QB online

2.) Find a CPA to do your yearlies. Ask him if they have a basic bookkeeping service. This is usually a low-level data entry flunkie and is very affordable.

3.) Throw all receipts in a pre-stamped priority mail envelope to his office. Mail once a month.

4.) Log into QB now and again and make sure they are keeping up with stuff.
 
HConvert said:
I seem to spend way too much time these days on mundane data entry (ie: expenses and revenue) - seeing as I let it all pile up until I panic ;)

I use some decent spreadsheets that run off a server for inter-machine access, but wonder if I'm missing out on a really sweet app (or excel template) that could make this all the more pleasant.


What do you guys use to track all of your invoices and income?
Click to expand...
Is your financial situation so complicated that you can't just export reports from your bank and credit card statements to something as simple as Excel? If you can't easily export everything to Excel and organize things quickly, then QuickBooks will probably be a nightmare - You may need to re look at how you process revenue and expenses, and potentially reserve specific credit cards or account for certain merchants or other aspects of your business.

Anything that I'd put into an accounting software can be put into Excel just as easily - Export statements, categorize, and then generate a summary based on timeframes.
 
quicken is sick... it automatically syncs with your bank account online and downloads all transactions, lets you add notes, auto-flags certain transactions as business expenses, etc.
 
Everyone should get quickbooks online! there is also another new startup which is more expensive if you have lots of transactions. I forget their name, but they autosync PayPal, which is a nice feature that qb online doesn't have.
 
I just use excel and a spreadsheet I made a few years back. I send it out to my accountant and if he requires proof of the transactions I send them to him. Its pretty simple really.
 
johu said:
Is your financial situation so complicated that you can't just export reports from your bank and credit card statements to something as simple as Excel? If you can't easily export everything to Excel and organize things quickly, then QuickBooks will probably be a nightmare - You may need to re look at how you process revenue and expenses, and potentially reserve specific credit cards or account for certain merchants or other aspects of your business.
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I hear you. My situation was always a little bit more complicated as I work in both USD & CDN, and not much s/w out there will deal with that properly.

My accountant applies the yearly exchange rate now, so that's easier.

But last year I incorporated, and that has changed the landscape somewhat.

Money now flows in 2 currencies between corporate and personal accounts, and certain suppliers (eg: POF, mediatraffic, etc) require more housekeeping because of the GST.

My acct. thinks the data I provide him with is great compared to some of the stuff he gets from other clients - but I am trying to make it easier for myself.



BeerNuts said:
I just use excel and a spreadsheet I made a few years back. I send it out to my accountant and if he requires proof of the transactions I send them to him. Its pretty simple really.
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I think I will just stick with this and try to perfect my sheets some more (and figure out that goddam pivot tool :) )

.
 
andyt said:
Everyone should get quickbooks online! there is also another new startup which is more expensive if you have lots of transactions. I forget their name, but they autosync PayPal, which is a nice feature that qb online doesn't have.
Click to expand...

I think you are talking about Indinero. Started by a group of college techies. One of my friends was a developer for them.
 
i just have a sep biz account at the bank and pay for all biz related stuff with that card tied to that account. At the end of the year I just DL the summaries of each month that includes the transactions and boom im done.
 
QB Online and outsourced pro 5 hours a week to do data entry.

CPA reviews and does all filing.

I never made any money looking at my balance sheet.

I check my bank balance and financial once a week now, focusing my effort on growing the top line.
 
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