Looking at accounting software

Looking at accounting software

Looking at accounting software

This may seem like a strange topic for a writing blog, however if you are making money from your writing, you will need to keep track of the money.  In my day job, part of what I do is bookkeeping. We use a number of different programs to suit our clients, so I have some idea of what I’m doing.

For my writing, so far I’ve been keeping a spreadsheet of sales and a shoebox of receipts ready to give to my accountant, however I’ve come to realise I need a better option.

Before I started looking, I came up with the following criteria:

  • Easy to use
  • Cheap – I’m not making a lot of money every month… yet
  • Create invoices that are compliant with the Australian Tax Office rules so I can get paid. When speaking at libraries, they require certain information to be included to comply with their system. Complying with the ATO rules satisfies these requirements.
  • Provide profit and loss reports
  • Have an app so I can easily produce and send invoices on the go (one big problem I have is remembering to send invoices when I get home!)

Nice to haves include having stock control so I can get a simple report of how many books I still have, but that is not essential.

I posted about this in a few different groups before doing my research and have come to the conclusion that finding an online system that can do invoices in Australian dollars doesn’t always mean they comply with ATO rules. I’ve decided to stick with an Australian provider as I know they will be easy to set up invoices to comply with Australian requirements.

I looked at Xero as a number of people recommended them, however they are too expensive for what I’m looking for.

A number of apps I looked at were harder to set up for the Australian system. There were work arounds, but I need something easy for me to set up (I want a box that says ABN and it will appear on invoices).

For now, I’m looking at ReckonOne. It’s only $5 a month for the most basic and to add on invoicing it’s $8 a month. I use this at work and it’s fairly easy to use. As with any new software, it does take some getting used to. I know they have an app so I can easily send invoices that are compliant with the ATO.

Given it’s the start of the new financial year, I need to go and enter transactions from last year ready to do my tax return.

What do you use to keep track of your finances?

Related Posts Plugin for WordPress, Blogger...