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  • #978111
    JewellerTracy
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    • Total posts: 25
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    Hi All,
    I’ve been running a small part-time business and using the ATO’s e-record for my bookkeeping and accounting. I loved it, worked really well and was simple, but…they no longer have it, and my computer crashed and I lost this whole year’s worth of entries. My new computer won’t accept the old e-record installation so I have to find something else.

    I’ve downloaded a trial of Quickbooks, but am not keen on it. I’ve also downloaded a trial of MYOB but haven’t used it yet.

    Hoping some of you can suggest or recommend something for me. I have no employees and never intend to, I’m a sole trader. MYOB is a little more expensive than I’d like, but if it’s the best thing to use, I’ll go with it.

    Any advice would be appreciated, thanks.

    Tracy

    #1104793
    Anonymous
    Guest
    • Total posts: 11,464
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    Hi Tracy,

    Welcome to the forum, and apologies that your first post got held up in our moderation queue. :(

    It’s here now though, so I have my fingers crossed that the recommendations will start rolling in for you.

    All the best,
    Jayne

    #1104794
    nominal
    Member
    • Total posts: 504
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    JewellerTracy, post: 116222 wrote:
    My new computer won’t accept the old e-record installation so I have to find something else.
    I’ve downloaded a trial of Quickbooks, but am not keen on it.
    I’ve also downloaded a trial of MYOB but haven’t used it yet.

    Our solution is intended for Australian micro businesses and is received good reviews as MYOB alternative. It sounds like it fits your bill from the functionality and pricing perspective. Have a look at my signature and see if you find it interesting.

    It will be interesting to hear why are you not keen on Quickbooks? they are considered simpler, cheaper and easier than MYOB. ( I still think it is not
    simple enough with over 120 menu options! )

    Good luck !
    Uri

    #1104795
    JewellerTracy
    Member
    • Total posts: 25
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    Hi Jayne – Thanks for the welcome and no need for apologies, post was pretty quick compared to most moderated forums :)

    Uri – Thanks for the link, I’ll definately have a look at your software. The reason I wasn’t so keen on Quickbooks is that it doesn’t seem to track gst I’ve paid. I’mnot registered for gst so don’t charge it, but erecord had options to specify if outgoing payments were taxed or not. Just made me nervous lol I’m so used to erecord I think that I’m a little wary of anything else. Tried the MYOB last night and couldn’t even get through the setup, so obviously I need something very basic and with support that doesn’t charge by the minute. Have a busy few days coming up but will certainly have a look at Nominal, thanks.
    Coming up to end of financial year and I have to go through all my bank statements, invoices etc and re-enter a years’ worth of records….not looking forward to that!

    #1104796
    Dardee
    Member
    • Total posts: 430
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    Have a look at Xero. If you can get your bank data as a CSV file you can upload all the entries and go from there. It will save you hours and hours of work.

    In the past we have knocked over many hundreds of transactions in just a few hours.

    Give me a call if you want to know more.

    #1104797
    Geronimo
    Participant
    • Total posts: 237
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    Hi Tracy,

    Do a search for Xero in the forums, it’s well loved, and with good reason. I believe that if you sign up through a partner (as shown on their web site), it’s cheaper.

    I went from e-record to Xero several years ago, and couldn’t be happier.

    #1104798
    nominal
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    • Total posts: 504
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    JewellerTracy, post: 116268 wrote:
    …I have to go through all my bank statements, invoices etc and re-enter a years’ worth of records….

    Sounds lovely :-)

    If you can export historical records to OFX/QIF from your online banking than you should be able to (reasonably) simply go over and reconcile the records. Creating invoices, purchase, spend/receive money transactions from each
    record.

    If there are recurring ones it will catch up and fill it up for you after the first one. (i.e the account, the name, the description etc)

    If you’re using a major Australian bank you can also do direct bank feed which will allow you to reconcile up to the minute information from your bank account into Nominal.

    Once your bank records are reconciled, you’re almost done…
    Good luck.

    #1104799
    nominal
    Member
    • Total posts: 504
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    And a side note to the Xero accountants who will hopefully find interest in this thread :-)

    Today I have recommended a prospect to try out SaaSU or Xero, it makes sense to do when the customer requires true concurrent access from multiple locations or bank feeds that we don’t support.

    I wonder when do you say to someone you’re better off with MYOB etc? never?

    In this specific case seeing that the OP said that MYOB was on the expensive side. I assume an on-line solution will fall under the same category.

    #1104800
    jetbookkeeping
    Member
    • Total posts: 53
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    Hi Tracy,
    Choosing your bookkeeping package needs to fit into your business processes and deliver more than just ATO compliance.

    While I do not know what your business is, as a jeweller, you might invoice your clients, manage stock, sell online. To reduce the time it takes you to look after your financials, you want to integrate all your financial systems closely. The online accounting packages do that.

    So if you use purchase orders or manage inventory, I recommend Saasu, which has this fully integrated.
    If you want to minimise your data entry and get great reports, Xero is the best choice. I have written a full comparison between Xero and Saasu.

    Alexander

    PS: While Xero is not cheaper through partners, there are additional versions available if you do not need to invoice your clients, which you can only get through a Xero partner.

    #1104801
    TehCamel
    Member
    • Total posts: 873
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    MYOB Live (which is specifically aimed at microbusinesses) is neat, clean and tidy.. costs $25.00 a month, but you get a month to trial it.

    Saasu varies in cost, looks similar to myob live, but as you go up the gradiants of available plans, has more capabilities.

    Quickbooks Live is an online version of quickbooks – if you don’t like quckbooks on your computer, don’t bother with quickbooks live (and you don’t even get a trial.)

    You may well find MYOB is too big for your purposes, it’s allegedly even bigger than QB.

    I haven'[t personally seen Xero.

    There’s also Gnucash, if you have a linux computer.. or you may even be able to find a copy of microsoft small business accounting still floating around

    #1104802
    JewellerTracy
    Member
    • Total posts: 25
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    Thanks so much for the advice. I will have a look at all of those options since they all have trial versions……
    Cheers:)

    #1104803
    King
    Member
    • Total posts: 2,212
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    In addition to Nominal, there is also Cashflow Manager – also allows import direct from bank so no retyping.

    #1104804
    Brett N/Nerds Computer
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    • Total posts: 76
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    Hi Tracy,

    That is terrible bad luck. Losing records is awful. Given your bad luck I am happy to come out and look at your old computer for free and see if I can recover the files for you.

    At the same time I can talk you through the relative benefits and pitfalls of different solutions. As a result of this discussion I will be able to advise you on what is the right accounting software for your business.

    We have a data recovery expert and I am very knowledge about accounting software for small businesses.

    If you are interested just send me an email. My email address is in my signature below. Again, it won’t cost you a cent.

    Again my commiserations.

    Have a great day!

    Brett

    #1104805
    JewellerTracy
    Member
    • Total posts: 25
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    Thanks so much for the offer, Brett. I would have gladly taken you up on that, but I have already taken it to someone that was able to get most of my files off. I downloaded a copy of e-record from the web, but for some reason, I can’t get my files to open.
    I will definitely keep your details though for any other issues that come up if you don’t mind (And there are sure to be some!). My computer guy is about a five hour drive away and although he does some remote stuff, it’s good to have someone face to face sometimes. Also, I’m really focussed on building my business up from a part time thing to full time, so when that starts coming along, I will need some advice on accounting etc
    Thanks :)

    #1104806
    AuntyN
    Member
    • Total posts: 1
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    Hi Tracy and other members
    Another accounting package that is designed for small business in particular is Cashflow Manager. It is an Australian product, developers are in Adelaide, easier to use that Quickbooks and definitely easier and cheaper than MYOB which is quite a complex product. Cashflow Manager is designed to handle sales, invoicing, payments, purchasing, reporting etc and keep financial records in good order for tax time. It is especially designed for small business owners who are not accountants. There are specialist packages for people who just want to manage rental income and expenses or wages.

    Hope you find something that suits your business,

    AuntyN

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