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  • #969945
    Aegist
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    • Total posts: 3
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    Hello Everyone,
    I stumbled across this website through Google while trying to find accounting software options for my online business. Still not particularly happy with the options available to me… Is it just me or has the accounting software world failed to keep up with the modern world of internet based commerce?

    I am struggling, because my business is best described as “Internet Marketing” or “Affiliate Marketing”. Now I know i am not alone in this, I am sure there are many many thousands of people trying to do it, and probably many thousands being very successful at it – so it is not just me. But every piece of accounting software I see wants me to deal with products, invoices, chequeing accounts etc.

    That stuff just doesn’t apply to my business. My business is so damn simple, yet it seems impossible to find the perfect accounting solution – I have affiliate companies who I send customers to. When those customers buy enough stuff and my account reaches a certain threshold, the affiliate program sends money to my accounts (be it my bank account, my paypal account or my other online e-wallet account). I receive money in all of the major currencies, but I don’t invoice anyone, I don’t deal with products (no units to deal with), I don’t have accounts receivable or payable etc. I just have accounts with numbers that change.

    Of course, I am more than happy to accept at least some of the blame on this – I am no accountant. I was lucky enough to get accepted into the NEIS program earlier this year, and had a couple of hours being taught MYOB (which really made a difference) – but still I know that I fundamentally need to get a much better understanding of the jargon, and how it all inter-relates will make finding the right software much easier.

    Sigh. I have been trying to do this for way too long now. It sux putting many many hours into trying out every piece of software on the market and being unable to actually get a result – I could have been doing REAL WORK with this time!!!

    Shane

    #1041689
    Anonymous
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    • Total posts: 11,464
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    Hi Shane,

    Welcome to Flying Solo.

    I’m pretty sure there’ll be some people around here who can offer you some advice – hopefully they’ll pop in soon with some ideas for you.

    All the best,
    Jayne

    #1041690
    Rhys
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    • Total posts: 325
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    Shane,

    If your business is on line you might want to consider having your accounts online. The scenario you describe would be handled really well by Xero – you wouldn’t have to enter invoices, rather just code the receipts to the relevant income accounts. You could set up bank rules (once only) so that each receipt was accounted for correctly, both in terms of the GL account and the GST code. Very simple, very quick.

    Aside from Xero there are a couple of other online solutions available (Saasus & MYOB Live Accounts), functionality and price vary between these but without knowing more about your business hard to offer an opinion as to which would best suit your needs.

    You can find lots of information on Xero on my website, or if you want to discuss this in more detail please feel free to contact me (contact form on the website, or send me a message via FS).

    Cheers, Rhys

    #1041691
    ERPSpecialist
    Member
    • Total posts: 72
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    Hi Shane,

    I am setting up a company right now .. http://www.USAFoods.com.au where I am establishing a new total management system (ERP) for them and also linking their shopping cart directly into their inventory system etc etc.

    I would think we could set up a system for you quite easily but would need to learn more about it. What you have described sounds to be quite simple.

    Please feel free to contact me if you wish to persue.

    cheers ..Bruce

    #1041692
    Micka1978
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    • Total posts: 4
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    Hi Shane

    I would have to agree with the first reply – Xero is a fantastic program which, from my experience (and I do not have any connection to Xero or work for them), clients can actually use and get the reports and information that they need and use with the greatest of ease. It’s also a program that makes life for us accountants a lot easier when the records come to us at the end of the year which should also mean lower accounting fees for you!

    #1041693
    nominal
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    • Total posts: 504
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    I am not an accountant,but it sounds to me like you’re receiving payments without issuing invoices.

    Which means you get the full payment in one go, which needs to be recorded into your bank account(s) paypal, anz whatever.

    And against a specific income account, affiliate 1 affiliate 2 etc – so you can track them correctly.

    You should be able to do this with any accounting software online or not.
    If you struggle with using existing accounting software and want to try something NEW and simple, I suggest to try:

    http://www.nominal.com.au I think you will find it refreshingly simple, you can even do your BAS online.

    #1041694
    DavidThomas
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    • Total posts: 265
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    I use saasu, moved across to it a week or so ago, and I’ve found it quite good so far. Probably best to get a bookkeeper to help you get started with any of the suggestions here, (xero or saasu).

    #1041695
    Innovative Accounting
    Member
    • Total posts: 1
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    Hi Shane

    I just spent the last 6 months reviewing online accounting software products (I have trained and consulted on MYOB and QuickBooks for the past 10 years) and my assessment was that at the moment Xero is the best on the market for small/medium business. I’ve been doing presentations comparing the features of different packages to various groups and most of the attendees are in agreement with me about Xero.

    I am also an accountant and my experience has been that the trick is seeing past all the features of these packages and setting up the software (Chart of Accounts, bank rules, etc) to suit your business needs. Rhys mentioned using bank rules in Xero for your business and I think that would be an ideal starting point.

    Good luck and feel free to call me if you want to talk about it further

    Tania

    #1041696
    Anonymous
    Guest
    • Total posts: 11,464
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    G’day Tania,

    Welcome to Flying Solo, and thanks for your insight in this thread… yet another beancounter in praise of Xero – they are certainly gaining some groundswell!

    We’d love it if you’d stick around and be part of the gang. The best place to start is by sharing a little about yourself and your business over in this part of the boards: http://www.flyingsolo.com.au/forums/new-member-introduce-yourself/

    Nice to meet you =)
    Jayne

    #1041697
    WFBS
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    • Total posts: 2
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    Xero market themselves a the “easiest accounting software in the world” and it certainly is a very straight forward to use.

    The fact that it’s online makes for easy access. It also means you don’t have multiple files floating around, only one, lives in “the cloud” and you can have as many people accessing at any one time as you wish.

    Xero would certainly be able to account for transactions, however, what I am wondering is whether you wanted to implement a system that cross checked what payments you are actually receiving – whether or not they are correct – or whether you are fine with just assuming they are?

    Let me know if you need help here,

    Thanks
    Wendy Field
    http://www.wendyfield.com.au
    Xero Certified Advisor, MYOB Certified Consulting & Approved Trainng Provider, Netsuite Certified Consultant, Leap Certified Consultant.

    #1041698
    Rhys
    Member
    • Total posts: 325
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    WFBS, post: 51940 wrote:
    however, what I am wondering is whether you wanted to implement a system that cross checked what payments you are actually receiving – whether or not they are correct – or whether you are fine with just assuming they are?

    Hey Wendy hope you’re well,

    Not sure about Shane, but you’ve certainly got my interest (despite the fact that I have an instinctive dislike of any question to which the answer is self evident). Can you provide more details please.

    Cheers, Rhys

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