School Accounting Software

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Small business management software – web based crm software, small business accounting software, time & billing, employee expenses *FREE* version www.salesorder.com

• Designed for older macs
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Product Description
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MacMoney Home and Small Business Accounting Software – 3.5 Foppy Disk with Manual Booklet – For Mac Only

A number of questions are asked by clients either before purchasing or after downloading the accounting software. Many of these questions and the answers are the same the most typical of which are produced here.

Why is the monthly profit and loss account not updating from the sales and purchases entered.

Updating the profit and loss account in the financial accounts file is automated. If the financial accounts file is not updating automatically the links from the sales accounting spreadsheet and or the purchase accounting spreadsheet are not working. This may be because the file names have been changed which breaks the links between the files.

The most common reason is the way the files were originally saved when initially downloaded from the website by opening the files first before saving them. When a file is opened first before saving the computer stores that file in a temporary internet folder and changes the links to temporary links within that temporary folder.

When that file is then saved it is those temporary links which are being saved and not the original links. Those temporary links would not be recognised by the other files which form the link structure. The solution is to delete the files and save the files again direct to your accounts folder without opening them first thereby preserving the original links.

Accounting entries on sales and purchases appear on the profit and loss account but do not appear on the list of expenses on the self employed tax return.

The self employed tax return required to be completed in the UK is dependent upon the sales turnover. Small business with total sales income exceeding 64,000 pounds for the financial year ending 5 April 2008 are required to complete the full self employed tax return while businesses with a turnover under 64,000 pounds may complete the short version of the self employed tax return.. Coincidentally the threshold is the same as the vat threshold.

In addition if the sales income is less than 30,000 pounds then it is not necessary to complete all the individual expense classifications. The excel formulae within the financial accounts file automatically fill in the short or full tax return and only fill in the detailed expense classifications if required to do so.

Does the package produce my quarterly vat returns when a vat flat rate scheme is being operated.

The user guide contains notes on how to enter the value added tax flat rate percentage on the sales bookkeeping spreadsheet. The bookkeeping single entry of the flat rate vat percentage on the sales sheet updates throughout the package including the subsequent months on the sales sheet and also each month on the purchases bookkeeping spreadsheet automatically calculating value added tax at the flat rate percentage and expenses value added tax paid on purchases at the zero vat rate producing a quarterly vat return.

Does the self employed accounting software package produce a balance sheet.

Producing a balance sheet is optional for self employed small business and not an essential requirement of completing the self employed tax return. The self employed package is based upon single entry bookkeeping and does not produce a balance sheet which requires double entry bookkeeping while the limited company package does produce a balance sheet as it is a legal requirement for a limited liability company.

As the self employed accounting software includes sales and purchase spreadsheets and also cash and bank spreadsheets it is possible to manually produce a balance sheet if required but the accounting software does not produce it automatically.

Do I purchase a new software package each financial year or can the accounting software be updated for more than one year accounts.

As the accounting software and payroll packages include the current financial year tax rules that enable the financial packages to automate the production of that years tax returns then each year has new tax rules embedded and being on excel rather than an accounting database then it is necessary to purchase a new accounting or payroll package each year.

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Accounting Software Strengths

Easy to use by non accountants requiring no previous accounting knowledge and is basically a list of sales and a list of purchases on preset excel spreadsheets. Each workbook is arranged as 12 monthly spreadsheets with preset columns and uses an entry code letter to analyse both sales and expenditure.

Cash and bank spreadsheets are included as optional extras for those businesses that require them with a built in automated bank reconciliation. Entering bank transactions and a bank reconciliation has been arranged so the bank statements can be listed and when the statement total is entered the bank reconciliation is automated.

Monthly profit and loss account also includes a financial health check based upon an automated tax forecast to enable businesses to monitor their financial performance. By entering drawings the package then compares the net profit made with the likely tax liability plus the drawings.

Quarterly vat returns are generated for vat registered business and is also suitable for non vat registered business. Producing a vat rteurn is very easy. Simply click the vat file to open and click the date required from the drop down box and the vat return is produced.

The vat calculations can be disabled by non vat registered small businesses by simply changing the standard vat rate from 17.5 to zero making the accounting software suitable for both vat registered and non vat registered businesses.

The accounting package includes a stand alone sales invoice generator which requires invoices generated to be manually input into the sales sheet.

Capital allowances are automnated on the fixed asset schedule by simpoly listing assets bought. Depreciation is also automatically calculated with preset percentages that can be changed as required.

A major benefit of using this small business bookkeeping software is the templates are arranged in such a way to automatically generate an excel copy of the self assessment tax return. The excel self assessment tax return is arranged in the same layout as the official inland revenue form with the same box numbers making it easy to copy the figures from one to the other for submission.

Accounting Software Weaknesses

The Self-employed accounting software UK is based upon single entry of transactions and does not produce a balance sheet which is an optional requirement for self employed and therefore not a problem for the vast majority of businesses. DIY Accounting actually recommend clients who are self employed and wish to produce a balance sheet to use their Limited Company accounts package which does produce a balance sheet being based not on single entry but on double entry principles. The small business accounting software is suitable for a single tax year, the latest being 2007-08 and does not cater for accounting periods other than April to April. There are benefits in anyone self employed adopting the standard April to April financial year as this avoids tax allowances from two separate years being a feature of the accounts. When used by small businesses using the cash accounting system the bookkeeping entries to the sales and purchase sheets must be entered according to the dates money is paid or received rather than the dates invoices were issued. At the end of the financial year any invoices not yet entered require to be listed to adjust the final profit and loss account figures. This a major disadvantage if using the vat cash accounting scheme rather than the Accounting Software being reviewed.

Very Low Priced

At £12.99 the accounting software is basically available for loose change and will save many businesses the need to employ an accountant potentially saving hundreds of pounds in professional fees. For the financial year 2006-07 the basic package for non vat registered business is available at just £9.99 and the standard accounting software for vat registered small business is £12.99.

Other Features

The product has a stock control feature to monitor any stock losses. The small business accounting software contains a wages interface that fully integrates the DIY Accounting Payroll Software when those files are saved into the same folder as the accounting software files. A major advantage of the package is that being on excel spreadsheet all transactions can be seen, no hidden databases, and easily changed as required. The sales and purchase spreadsheets include columns for entering CIS tax deductions and payments and the certificate numbers. The CIS tax being then automatically entered on the self assessment tax return. it is essential that users have a version of excel from 1998 onwards installed to use the program which is written on excel spreadsheets. The accounting software also works fine with an Open Source spreadsheet package.

Conclusion: to Buy or not to Buy

Exceptionally good value, very easy to use and produces exactly what every small business requires, automated accounts requiring no bookkeeping skills and no previous accounting experience with the valuable end product of a fully automated self assessment tax return.

www.forcheap.org – Download this free accounting software to help you run your small business or contracting business easier. Learn where your money is going. Create quotes and issue invoices to get you paid.

• One year of free unlimited support.
• Integrates fully with Microsoft Office 2003 Editions.
• Designed to be installed in-house by the small business itself.
• Create quotes, invoices, and purchase orders easily; manage inventory; track payroll and timesheets; forecast cash flow; and more.
• With more than 60 lists and reports that can easily be customized, you can forecast and track cash flow, inventory, and sales.

Product Description
Small Business Accounting 2006 is designed to meet the financial management needs of a small business. This package goes beyond the key features expected from a business accounting software program, such as a general ledger, accounts receivable, accounts payable, payroll management, sales order processing, purchase order processing, inventory management, employee management, banking, and reporting. In addition to all of these features, it includes numerous strategic… More >>

Microsoft Office Small Business Accounting 2006

Find out why online accounting system Xero is the perfect system for small businesses. If you’re interested in trying out Xero – test drive it here www.xero.com

Image taken on 2009-02-21 11:24:19 by quasi-hayley.

Image taken on 2009-02-21 10:58:51 by quasi-hayley.