Your top Accounting tool /software in 2018?

[Darren118]

Hi Ukbiz forumerz,

I just launched my small biz as of last weekend and received some sales, however my campaign should be completely done by Friday (so then I can jump into the numbers). So based on my quick numbers without a spreadsheet so far I think I'm slightly in the hole, but not that much.

I want to see where I can bring down costs in a nice chart and visable graph with forecast, profit and loss.

I would like to track profit and loss, VAT (in the future), cost of mainly input the products I purchased, cost of advertising and lastly fees from my phone bill and anything else that gets added. Possibly an easy way to upload directly to HMRC.

I did look at liveplan but for $20 a month I'm sure there is potentially a free option.

I did do a search and found most of the tools people are recommending are for invoicing which is not something I'll be doing.

Look forward to your ideas...

 

[Sam Price|ICS Accounting]

Xero and Quickbooks are 2 of the best packages out there.

The reports are great and it all syncs with HMRC nicely.

You'll achieve your aim of keeping on top of your costs through monthly profit and loss reports which are easily run.

A good accountant will show you how to use the software and be able to offer it at a discount.

Hope that helps.

Sam

 

[MyAccountantOnline]

@Sam Price|ICS Accounting I am happy to work with data produced using Xero and QuickBooks but don't actually use either myself now, do they both enable a user to create charts of costs and a graph with a forecast profit and loss?

 

[Sam Price|ICS Accounting]

@Sam Price|ICS Accounting I am happy to work with data produced using Xero and QuickBooks but don't actually use either myself now, do they both enable a user to create charts of costs and a graph with a forecast profit and loss?

You can edit and create your own chart of accounts. In terms of forecast profit and losses, there is a great budgeting tool under reports. You enter monthly figures (can use % increases or remain same for ease) and it can then be saved as .pdf or dropped into excel. In excel, you can drop it into a graph.

 

[MyAccountantOnline]

You can edit and create your own chart of accounts. In terms of forecast profit and losses, there is a great budgeting tool under reports. You enter monthly figures (can use % increases or remain same for ease) and it can then be saved as .pdf or dropped into excel. In excel, you can drop it into a graph.

Thanks Sam.

OK so you cant actually produce the charts and reports the OP asked for directly.

I didn't think you could. I'm not aware of any that do exactly what the OP wants.

Certainly I suspect nearly all of the well known systems/packages will enable you to export data and create charts in Excel.

 

[Darren118]

The only software I've seen so far that can do that is liveplan (meaning graphs and graphics) I tried a trial run.

 

[Sam Price|ICS Accounting]

How much does Xero and Quickbooks cost? Is it easy to work in them?

They have several packages:

Xero: £10/27/27.50
Quickbooks: £6/15/25

Both have introductory offers, and accountants usually will get discounted rates (which they may pass on to clients )

Accountants should find them easy to use, and they are certainly designed for 'non-accountants' to use - but it all depends on the user

Sam

 

[youngtrepreneur]

QuickBooks is the best in my honest opinion.

I'm a QuickBooks Proadvisor.

Xero isn't as well developed, and Sage is playing catch up with everything else.
My opinion, obviously.

 

[gurpreet.raletta]

As far as the Software for accounting is concerned, Merrchant is the best ever Software i have got on internet.