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  • #993071
    Jason_books
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    Hi everyone,

    I am a small business , online , So I don’t need to send invoices to customers as my Opencart website take care of that,, All I need is to track my expenses – which is a good software? not that expensive though,, I should be able to email my invoices, and or get a photo of an invoice and update the system.. any advise please

    thank you

    #1189606
    Caroline Goad
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    Hi Jason,

    Xero is an exceptionally user friend and mobile system given it is cloud based. I understand that it integrates with Opencart which would give you greater functionality. It is a relatively cost effective option that a lot of our clients use and have been happy with.

    You could download the trial version at http://www.xero.com.au and see what you think.

    Good luck

    Caroline

    #1189607
    Jason_books
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    it expensive though – i will give it a try

    #1189608
    Jason_books
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    wave apps seems to be free and great

    #1189609
    GuestMember
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    Google Sheets. Simple. Access anywhere. Set up formulas (if you need them). If you want a local setup, MS Excel spreadsheet. You can get templates online.

    #1189610
    Renuka
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    For your requirement, Kashoo and Wave are good and affordable solutions to go.

    #1189611
    Brad Turville
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    Hey Jason,

    Xero has something called a GST Cashbook which only a Xero partner can setup and it has everything you need but no invoicing functions (i.e. no accounts receivable or payable). The cost is $19 per month ($10 is no GST) and will have to be charged to the accountants Xero credit card (you can’t just go and sign up yourself).

    You can still have the bank feeds and reconcile everything to do your BAS and your accountant can work off it to do your annual tax.

    #1189612
    Robert Gerrish
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    Hi Jason

    We recently interviewed Sholto Macpherson a journo who specialises in this topic. In the podcast he walks us through all the main players and I think you’ll find it useful.

    There are many more options than those mentioned thus far in this thread and it’s worth getting it right.

    A very good side effect of Xero stirring up the market and developing such a slick product is that little by little the others are following suit. This is also causing something of a turf war and that’s likely to have a good impact on pricing.

    Sholto does a fine job of summarising the situation and walking through the growing number of contenders.

    Have a listen to the podcast.

    Robert :)

    #1189613
    CloudCFO
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    I am a huge advocate for Xero and it is definitely worth the $50 per month. A small investment for the amount of time and money it will save small business.

    Wave is also a definite option and is free. A great alternative if you don’t have payroll,

    #1189614
    Kevinback
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    I think Xero and Wave both are great. :)

    #1189615
    RuthH
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    I will add another take. :) Check with your accountant as to what programs they support. No good picking up something that is going to cost you more than the program is worth in accounting fees.

    Reckon One is a new product on the market & is worth having a look at for small businesses. You only pay for those parts of the program you use, and only on a monthly basis. For a business like yours you would only be paying between $5 & $8 a month.

    #1189616
    arrowwise
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    The accounting software company with the biggest marketing budget isn’t always the best product in the market place for everyone (even if your accountant is reluctantly on board because they scored a free subscription for their business). As Robert said the bar keeps getting raised quickly at the moment with these cloud options, so the race and broad choice is really on now.

    #1189617
    Accolution
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    Great question, here’s an overview of the most popular options.

    Wave – free (yes, really free), they make money through credit card processing fees and advertising predominantly. it’s a good basic cloud program that would work fine for the average soloist and a small business.

    QuickBooks online – about half the price of Xero (starts around $8/mo up to about $30) and is a very good accounting program with everything you will likely need including payroll. Not as many plugins as Xero but should be enough for the average business. Their credit card processing is done by PayPal and the fees are higher than Wave and Xero.

    Reckon – for many years they old Quickbooks in Australia. When Quickbooks online wanted to sell direct in Australia they ended their distribution agreement with Reckon. Reckon now sell the “old” offline Quickbooks program under the Reckon name.

    Xero – the most expensive accounting cloud program (but it pays good commissions to accountants to a lot of them push it). It is good, has lots of plugin options and good credit card processing fees with most providers.

    MYOB – only still popular in Australia so it will be interesting to see if they can still hold onto their market share with international companies like QuickBooks and Xero pushing hard into Australia. A good program, credit card processing requires a merchant account with Commonwealth Bank. On the expensive side.

    Freshbooks – a cloud based program with time tracking intergrated so it is good for services businesses that want to track time spent on client jobs (like advertising agencies, lawyers, accountants, etc). A basic program without many of the features of the ‘newer’ cloud programs like Quickbooks and Xero. Reasonably priced and for those who don’t want to pay for both a cloud accounting program plus a time tracking plug in, it provides an alternative.

    I have lots of experience with the different systems. Good luck making a decision and let me know if I can help you decide.

    #1189618
    Adam Prince
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    Jason_books, post: 222455, member: 38236 wrote:
    Hi everyone,

    I am a small business , online , So I don’t need to send invoices to customers as my Opencart website take care of that,, All I need is to track my expenses – which is a good software? not that expensive though,, I should be able to email my invoices, and or get a photo of an invoice and update the system.. any advise please

    thank you
    I have multi-store front Opencart shops – turbocharged by direct integration with Xero. Opencart sends all details of the transaction by cron-job and creates either an approved or a draft invoice, depending on what you set…

    The invoice is created in Xero with already correct chart-of-account allocation codes that you set up in Oc Admin. I have the integration create a draft invoice which I can change the account code in Xero to a non-GST “export sales” code for accurate ATO reporting (actually can be set-up for any country – I’m currently doing this for my Singapore company).

    This created invoice already has the customer’s name and address, item details including item descriptions and item numbers (as per the master key “model” number in Oc) that will be then created as a directly corresponding stock item within Xero’s standard inventory control, which then makes it really easy to manually create non-website generated sales invoices for telephone or email sales.

    Where the functionality really gets useful is that Paypal account (and most other bank/payment gateway) live feeds are super easy to reconcile directly against sale invoices, (and expenses for that matter) + cancelled, refunded or otherwise voided orders in Oc can be set to remove existing draft invoices in Xero, although can’t remove already approved invoices, which is one of the reasons to create only as draft – removes additional work of issuing credit notes for uncompleted sales.

    Compounding this advantage is if you accept payment in multiple currencies (I accept payment in more than 20 different currencies), Xero and Paypal together accommodates this with ease and 100% accuracy that results in bank reconciliation accurate to ZERO cents error over a financial year period.

    Initially I used spreadsheets to assist create reports for all this because I wanted to “save” a few bucks, okay perhaps for just a few transactions here and there, but as the business grew it became a totally time consuming nightmare that was nowhere near as efficient as I have it functioning now.

    If anyone thinks $54.55 + gst a month for all that functionality including multi-currency is expensive then obviously they consider their time to be worth not very much. I easily save 10 x that investment in improved efficiency. Xero even constructs my BAS statement that includes my website sales as each quarter progresses, I don’t even need to pay a bookkeeper $150/qtr to do that part any longer.

    #1189619
    Hatching_It
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    Adam Prince, post: 224570, member: 71093 wrote:
    I have multi-store front Opencart shops – turbocharged by direct integration with Xero. Opencart sends all details of the transaction by cron-job and creates either an approved or a draft invoice, depending on what you set…

    Does it do it line by line for the invoice (eg: assigning postage to a postage chart of accounts and then product cost to sales) or is the whole invoice assigned to one code?

    I looked at doing this with my Magento store and couldn’t see any advantage in using Xero for invoicing over just using the standard Magento invoices. As you say, my bank feeds allow me to assign sales etc to account codes when I reconcile and that all happens automatically due to xero rules..

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