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Thread: Accounting Systems

  1. #1
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    Accounting Systems

    Ok here's a question and maybe an attempt at little market research, but either way it could be interesting for all and maybe I will attempt to summarise the comments in some form that will be useful when next someone needs to purchase an accounting system.

    Just to note that earlier this year I was developing an accounting system for the Auto Workshop industry, which was based was systems that had been written over a 10 year period, which has currently been shelved due to a marketing nightmare.

    However, the question is whether your accounting system is a post event recording system or if it avails itself to be used as an active control tool and if in fact this is deemed to be desirable.

    I.E. At the end of each day can you use your current system to see what material was ordered, delivered, paid for, what material was not delivered and is now overdue, and pass these transactions as authorized, see what your daily takings were, labour efficiency, man hours billed, customer complaints for the day, follow-up action taken, note follow up action you want taken, rep call sheets, results of disciplinary hearings, current bank recon for the day etc etc

    Can you view any source document (JNL, GRN, INV, CN etc) from any General Ledger transaction.

    Can you generate your own reports in Excel or other, such as cash flow, balance sheets, trail balance, and management accounts, easily and with limited expertise.

    Do you have and your staff have access to productivity tools such as

    1. Access to standard journals, (repetitive journals that are repeated monthly) standard weekly, monthly, quarterly and annual payment generator and control system that high lights payments that are overdue.

    2. Ability to reconcile debtor, general ledger and creditor accounts on line, i.e., within the system and diarise items for future action.You Know that vehicle licence that is never paid on due date.

    3. Ability to look up the history of purchases for lets say HB pencils or any other item, over the last 5 years, in terms of price, supplier and QTY.

    Ok so lets hear what system you are using and what it does well and what it does not do, that you would like to have. Think we need to specify the industry sector, as this will help understand the requirements of your business.

    If your system is a box of papers that get sent to your accountant at month end, that also counts as a system.

  2. #2
    Site Caretaker Dave A's Avatar
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    I'm using Quickbooks and it does most of what you have covered there. It might even do all for all I know - I'm pretty sure we're not wringing the maximum capability out of the software.

    One thing to consider is that to some extent Quickbooks can also be considered a platform. There are a number of add-on utility programs that have been built by independent software developers for specific applications that Quickbooks might not cover so well in its standard form.

    If I was a developer looking to build custom business solutions, I'd think of using Quickbooks as a base and then focus on building programs that gave the additional functionality I was aiming for. It would save a mountain of coding for the "basic" accounting functionality and also open the door to a very wide, international customer base.
    The trouble with opportunity is it normally comes dressed up as work.

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    Platinum Member Chatmaster's Avatar
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    Well, me and my wife investigated all kinds of software. We eventually decided on Turbocash, it is free and open source. Maybe that can help you Ryss?

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    Moderator IanF's Avatar
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    I use econoaccounting lite the feature for me is that it uses a downloaded bank statement as its core so your bank always reconciles. Then has autoallocate so if you enter paper this always goes to the paper account (I am a printer) The only thing is it doesn't produce an invoice which I get off our estimating system. The only thing is you have to set it up carefully.
    Ian
    Quote Originally Posted by Chatmaster View Post
    Well, me and my wife investigated all kinds of software. We eventually decided on Turbocash, it is free and open source. Maybe that can help you Ryss?

  5. #5
    Site Caretaker Dave A's Avatar
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    Econoaccounting doesn't produce an invoice? Or is that just the Lite version?
    The trouble with opportunity is it normally comes dressed up as work.

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    Moderator IanF's Avatar
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    Dave A
    It is just the lite version that doesn't produce an invoice.
    Only stress when you can change the outcome!

  7. #7
    Site Caretaker Dave A's Avatar
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    Thanks Ian.

    Wow! Talk about an incentive to upgrade.
    The trouble with opportunity is it normally comes dressed up as work.

  8. #8
    Moderator IanF's Avatar
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    Dave
    I have a separate estimating and invoicing so for me its fine. The one reason I would upgrade would be to do more than one company.
    Only stress when you can change the outcome!

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    Site Caretaker Dave A's Avatar
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    Ian - How do you maintain your debtors ledger?
    The trouble with opportunity is it normally comes dressed up as work.

  10. #10
    Moderator IanF's Avatar
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    Invoices are entered by journal daily. Payments come via bank or if paid cash Petty cash. You have to keep a the debtors statements near to allocate payments. But when you get used to it it is easy.
    Only stress when you can change the outcome!

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