The Money Mustache Community
Learning, Sharing, and Teaching => Taxes => Topic started by: Cwadda on August 11, 2017, 10:01:52 AM
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Hi there,
I'm looking into getting a reliable bookkeeping software that's easily on my budget. I need it for my rental properties as well as my Amazon business. Both of these businesses are quite small but I am working on scaling them up and it's time to invest some money into saving time and being more organized. Also, with metrics. I've been using Excel.
The two programs I've been looking at are Quickbooks and Godaddy Online Bookkeeping. Quickbooks is a classic choice, for a flat fee. Godaddy I've heard good things about and isn't outrageously expensive ($10 a month).
Thanks!
Cwadda
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My standard advice is: try gnucash. The price is right. It's free. If you don't like it, you have only lost time.
It may or may not do all you want it to. It is designed to adhere to generally accepted accounting principles and uses Assets/Liabilities/Income/Expense instead of "categories" that might be anything. There are templates for businesses (accounts payable, accounts receivable, etc) that I don't use (because I am not a business) and cannot comment on.
I don't use it for automated banking because I don't like that sort of automation. In the old days (I've been using it 20 years or more) it did not do any of this. I understand *some* amount of automation has been added, but I have not tried it.
I don't use much of their reporting, but have implemented my own. Data is stored in a standard XML file (or optionally in mysql database) and is easily parseable if you do any sort of programming.
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Quickbooks. Good double entry accounting system, user friendly, easy to integrate with MS products, accountants use it and know it so it should be easier for taxes.
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My standard advice is: try gnucash. The price is right. It's free. If you don't like it, you have only lost time.
It may or may not do all you want it to. It is designed to adhere to generally accepted accounting principles and uses Assets/Liabilities/Income/Expense instead of "categories" that might be anything. There are templates for businesses (accounts payable, accounts receivable, etc) that I don't use (because I am not a business) and cannot comment on.
I don't use it for automated banking because I don't like that sort of automation. In the old days (I've been using it 20 years or more) it did not do any of this. I understand *some* amount of automation has been added, but I have not tried it.
I don't use much of their reporting, but have implemented my own. Data is stored in a standard XML file (or optionally in mysql database) and is easily parseable if you do any sort of programming.
Thanks, I have never heard of it but will definitely look into it.
Quickbooks. Good double entry accounting system, user friendly, easy to integrate with MS products, accountants use it and know it so it should be easier for taxes.
Quickbooks is about $190 for the desktop version. Is it worth it? Can you get it anywhere for less?
Also, I worry about it not being an online platform because I'd ideally like to have my Amazon inventory synced and automatically updated. That'd be perfect. Because I deal with lots of inventory, I don't want to have to input everything multiple times.
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You could also look at Xero. Similar to Quickbooks online, but more user-friendly in my opinion.
I have not found an easy solution to linking Amazon to QB or Xero. There are some third-party applications that do it, but get pricey. If you have one, I would be interested to hear it. We've been doing some manipulation with the Amazon flatfile to get the info we need.
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You could also look at Xero. Similar to Quickbooks online, but more user-friendly in my opinion.
I have not found an easy solution to linking Amazon to QB or Xero. There are some third-party applications that do it, but get pricey. If you have one, I would be interested to hear it. We've been doing some manipulation with the Amazon flatfile to get the info we need.
It looks like this GoDaddy online software can do it. I will need to read a few reviews first though, and maybe do a trial period.
https://www.godaddy.com/email/online-bookkeeping?isc=gooob011&cvosrc=ppc.google.+godaddy%20+online%20+bookkeeping&cvo_crid=166248193856&matchtype=b&advid=154805&mkwid=s87BYJIav_pcrid_166248193856_pkw_+godaddy%20+online%20+bookkeeping_pmt_b_pdv_c_&aud=brand&&gclid=Cj0KCQjwq7XMBRCDARIsAKVI5QZcdEDieYZLNVoCx4tpJKR_9vgdIllB5sdnLVqc_pLGz5vfwVLZ90MaAjYAEALw_wcB&mkwid=s87BYJIav_166248193856_+godaddy%20+online%20+bookkeeping_b_c&mtid=esfyia2vf0&slid=&product_id=
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Bumping for more replies
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I use waveapps.com it's free and works well (or at least I'm used to it).