Basic Accounting Software

[Verora]

I've been researching the various cloud and application accounting packages on the market but whilst great to be offering so much functionality; I don't need it or the cost that goes with it. Does anyone know of one that is a reliable 'bare bones' kind of application?

I've just taken over as Company Secretary of a not-for-profit private road management Ltd company.
Given that we have 14 shareholders (households) paying in and only 3 bills per year, I'm inclined to believe I can diy it if I have an accounting application. All I need is to enter the transactions and generate end-of-year accounts as a micro-entity; there are no employees, invoices, dividends, Corporation Tax liabilities etc. I've advertised for an accountant online but I assume we're too small a business to be worth the income as I've had no response.

Previously the company used an accounting firm to prepare end-of-year accounts at a cost of £180. Twice they have filed late and incurred penalties (later rescinded by HMRC) and they've been prepared as a 'small business' rather than a 'micro-entity'. Hence my reasons for for wanting to manage this myself.

 

[Scalloway]

VT cash book is very good for basic bookkeeping
http://www.vtsoftware.co.uk/cashbook/

 

[MyAccountantOnline]

VT cash book is very good for basic bookkeeping
http://www.vtsoftware.co.uk/cashbook/

Scalloway beat me to it was going to suggest the same thing. So here's another vote for VT

 

[john1989]

Third time a charm.

 

[Verora]

Thanks everyone. I've been trialing QuickFile for the last few days and will now try VT Accounts to compare. Will post back soon.

 

[MyAccountantOnline]

Thanks everyone. I've been trialing QuickFile for the last few days and will now try VT Accounts to compare. Will post back soon.

Unless Quickfile has changed recently one huge drawback with the system is that you cant (unlike all other packages I know) download reports which actually detail what entries are for. The only way you can get the information is to log in and select each entry.

 

[emily.hyland]

VT also gets my vote for your situation. If you then use VT to prepare the accounts aswell they put it into the correct format. Micro accounts is a fairly new concept and only came into being on the 1st of December 2013. So previously you would have had to prepare small accounts anyway.

VT is very straight forward and the bookkeeping software is free of charge.

 

[UK Contractor Accountant]

Unless Quickfile has changed recently one huge drawback with the system is that you cant (unlike all other packages I know) download reports which actually detail what entries are for. The only way you can get the information is to log in and select each entry.

Was able to download the nominal ledger (with narratives) the last time I used it?

 

[MyAccountantOnline]

Was able to download the nominal ledger (with narratives) the last time I used it?

Thanks UK Contractor.

It sounds like it has changed - good job! It was certainly an issue I raised with them.

When I was working from Quickfile records the nominal ledger didn't show any narrative it just showed a reference; to get details of who was paid, and for what, you had to log into Quickfile and go back to the invoice which was posted. It was awful to work from.

 

[UK Contractor Accountant]

I used it in January to log into clients data - so looks like they have fixed this issue.

 

[MyAccountantOnline]

I used it in January to log into clients data - so looks like they have fixed this issue.

That's good to know thanks.

 

[Lentinus]

For the OP, one of the benefits of Quickfile is that if you want just a basic no frills end of year accs service they do it for £200 - on the basis that your transactions are in QF of course.

 

[Verora]

I've been using QuickFile for some months now and it has been perfect for my needs. The free help and support is excellent too. In fact I've been so impressed with the package that I've chosen them to do my company year end accounts. For a small, not-for-profit business like ours it was simple, intuitive and supported well enough to not need any formal accountancy or book keeping training. Being cloud based it's also very useful having the Directors able to track and verify the company expenditure. High recommended.