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| Thread ID: 64428 | 2005-12-14 21:53:00 | Accounting Software for End-of-Year? | annie (6010) | Press F1 |
| Post ID | Timestamp | Content | User | ||
| 412784 | 2005-12-14 21:53:00 | I use Cashbook Complete as an accounting package for my VERY small business. This easily handles all my accounting, including 'the fastest GST return in the west' - using it for GST returns saves me $900 a year in not having my accountant do it, and takes less than a minute per return (True!). I am now thinking that doing end-of-year processing and tax returns myself might save me the $1400-1600 for the accountant's end-of-year processing, and if the GST experience is anything to go by, I think this could well be possible. What I need is some software to help the process - I would run the software in parallel with manual processing as an integrity check. Does anyone have any suggestions? Much appreciated. |
annie (6010) | ||
| 412785 | 2005-12-14 22:52:00 | MYOB - mind your own business | Prescott (11) | ||
| 412786 | 2005-12-14 23:14:00 | If you're running a Limited Liability Company, I think you'll find that the majority of that $1400-$1600 is for the legal requirements to produce Annual Accounts and for auditing purposes. | Miami Steve (2128) | ||
| 412787 | 2005-12-15 00:37:00 | Thanks for both of those suggestions. Yes - it is a limited liability company (but my accountant told me costs wouldn't be much lower if I disbanded the company). And I'll have another look at myob - I had thought it only did cashbooks Thanks again |
annie (6010) | ||
| 412788 | 2005-12-15 01:45:00 | I use Excel. Each month I enter the months stuff. GST takes me a minute too. End of year I just do the totals and fire it off to the accountant to do which costs a total of $140 per year. Except when we swap services so it costs nothing. Takes her about 1 hour max to do her bit - she said I could do it myself but nah, I hate accounting. |
pctek (84) | ||
| 412789 | 2005-12-15 02:32:00 | Thanks - I suspect the end of year work probably is about $150 worth - guess I'll look over the IRD website to see if I can do it myself | annie (6010) | ||
| 412790 | 2005-12-15 04:47:00 | I have been comparing Cashbook Complete and MYOB BusinessBasics for my new business. I have to say that Cashbook Complete is far easier to use and requires far less learning for the same results. My accountant suggested a figure of $150 to $300 if I give him the info as I do now in my other business. I would think it is time for you to shop around for another accountant. One that doesn't have a fee that starts at $1000! | berryb (99) | ||
| 412791 | 2005-12-15 08:10:00 | Another vote for MYOB | CliveM (6007) | ||
| 412792 | 2005-12-15 08:21:00 | Thanks for all your help. I think probably the company is doing much of the financial damage - (my first accountant thought it was a good idea) - so I might ditch that, no real advantage to me. And then see about streamlining my end of year stuff and doing it myself. I'll check out MYOB as well. |
annie (6010) | ||
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