Will you use this dead simple incomes and expenses tracking app?

[directform]

Hi

It has been a while since the last time I participated in this forum. I have spent the last 12 months working on a number of ideas but finally I have settled with a record keeping app. Our first version of the app has just gone live in the Apple App store last Friday.

Since this is the first version of the app I am looking for as much feedback as possible from the forum members here. It is free to use. I hope that this tool will be useful for those who are looking for a simple app to track their cash inflow and outflow.

My app is called Taxmapp (unfortunately it is only available for iphone user only)
https://itunes.apple.com/gb/app/taxmapp-record-keeping/id669421223?mt=8

Please feel free to message me if you have any questions.

Thank you.

 

[Alan]

not for me i'm andriod

If your claim is true "No prior accounting/bookkeeping knowledge required - now everyone can do their own accounts. " then free is a fantastic bargain. I assume that means it has a chart of accounts, can produce a trial balance, balance sheet & P&L statement, calculate VAT and perform VAT returns, both for Flat Rate Scheme & normal, age debtors, and all the other dozens of standard reports used in accounting.

 

[David Griffiths]

The blurb doesn't really say what it does, I'm afraid. I'd need to know a lot more. (I couldn't use it as I'm Android too but on the basis of the linked data I wouldn't be tempted to give it a go anyway)

 

[directform]

If only I could turn back the time....then I would have started with Android app first. Well, another lesson learned for my startup adventure.

David,
The whole purpose of this app is to assist freelancer or self employed people to track income and expense records and collect tax information throughout the year. My plan is to allow my users to file their tax return either through web or mobile when the tax return is due using the data that has already been collected throughout the year. I think this will be a very useful tool either to my users (who can track their net cashflow throughout the year) or their accountants (who can file the tax returns on behalf of their clients by using the data already input by their clients). This is only the first version of the app so there are still a lot of works to do.

 

[kelvin1950]

Looks good, I'll give it a try. One thing, it's a pain having my email address as my login name. My email address is 20 letters, 1 hyphen plus the usual dot co's, takes a while to type it on an iphone!

 

[directform]

not for me i'm andriod

If your claim is true "No prior accounting/bookkeeping knowledge required – now everyone can do their own accounts. " then free is a fantastic bargain. I assume that means it has a chart of accounts, can produce a trial balance, balance sheet & P&L statement, calculate VAT and perform VAT returns, both for Flat Rate Scheme & normal, age debtors, and all the other dozens of standard reports used in accounting.

Hi llocally

Taxmapp is only suitable for small sole traders or freelancers (turnover below VAT threshold currently £77k) and it is not a full accounting system like XERO or Sage. We have made this clear in our terms of service but I am happy to make it clearer in the App description if necessary. This app is developed based on the requirements set out by HMRC following the recent change of cash accounting rule for small businesses. The whole idea is to make it as simpler as possible for small businesses. However, our primary objective is to make filing tax return as painless as possible. It just happens that we are providing a free tool for our users to make it easier for them to collect the information for tax filing purposes. We have no plan to provide full financial report for our target users (which we believe XERO and Kashflow have done incredibly well).

 

[Alan]

Just thinking laterally, in corporate (rather than small businesses) its a real pain filling in those petty cash expense claim forms. Now if your app (on android of course!) allowed people to submit petty cash claim forms in some sort of automated workflow through to corporate accounting depts, then that would be a winner.

 

[David Griffiths]

Just thinking laterally, in corporate (rather than small businesses) its a real pain filling in those petty cash expense claim forms. Now if your app (on android of course!) allowed people to submit petty cash claim forms in some sort of automated workflow through to corporate accounting depts, then that would be a winner.

Like Xero does! Photograph the receipt, upload it to your expense claim, saving the image as you go and throw the paper away!

See the video

 

[Alan]

Yes like that, but for corporates.

 

[David Griffiths]

Yes like that, but for corporates.

What makes you think that Xero can't be used for corporates?

 

[directform]

llocally

Good suggestion but it is not something that we will be focusing on right now. May look into this in the near future.

David
My only concern with XERO is that as a user you don't have a choice to choose which features you want and don't want. There are too many bells and whistles that most of the freelancers or sole traders don't really need. For example, I have a friend who is paying his accountant a monthly fee of £120 and he is receiving a 20 pages management account (probably from XERO report function) every month which he doesn't need. He is a consultant with two invoices a month. What I am saying here is that there are some people out there (or maybe in this forum) have been paying for something that they don't really need. I am trying to provide an option for people to pay less and get just the right service to fulfil their duty as a good citizen (for paying the right tax).

 

[Alan]

What makes you think that Xero can't be used for corporates?

I just picked it up from Wikipedia
"Xero (NZX: XRO ) is an online accounting software product for small and medium-sized businesses, as well as for personal finance. "

I guess if that is the wrong message they might update Wikipedia, its not hard.