Accounting software for trading companies?

[Sugar Dunkaton]

Good Morning,

Just a quick question regarding company accounts. I have a company set up to trade through, which all of my trading accounts are in. I am going to do the accounts for my company given the free time I have.

I was wondering if anyone else does their own accounting for the companies they trade through, and which of soft wear packages they use (ie MYOB etc etc).

Thanks in Advance.

 

[Krusty the Klown]

I'm not sure that you will need a commercial software package like MYOB or Quickbooks etc. You won't need to do payroll, inventory, accounts receivable or any general ledger activity for accrued accounts.

It would be much simpler and easier for you to construct an Excel spreadsheet, like a trade register, for these purposes, that way you can customise it to your needs.

 

[wildkactus]

I found the use of quickbooks online to be good for this, use it for all my companies, I find it better and more convenient then just using a spreed sheet.
I can have others access the data if needed as well.

the normal version of quickbooks is good as well. I went online due to my travelling.

 

[Sugar Dunkaton]

I am going to need to account for expenses like computers, rent, power etc. I am covered for Office expenses under all of this, and my computer is about 95% work related.

Does anyone use the Microsoft Professional Accounting Program

 

[wildkactus]

@Sugar Dunkaton
The best thing to do to make sure you are covering all your expenses is to sit down with an accountant have have them with you work up a chart of accounts, you only need to do this once for a trading company. this way you will know what you need to put into what box.

most of the things you mentioned above are claimable to a % if working from home, there will be others, this is where a good accountant will help you.

As for Microsft pro accounting NO, I try to stay away from microsoft products, My opinon only, mainly to do with the fees attached to their software not the quality of the products.

Happy trading

 

[ilikepoker]

Try Ok-Inventory! Its powerfull free accounting software for trading business. I like it very much. It is all in one business management software

 

[James Robinson]

Good Morning,

Just a quick question regarding company accounts. I have a company set up to trade through, which all of my trading accounts are in. I am going to do the accounts for my company given the free time I have.

I was wondering if anyone else does their own accounting for the companies they trade through, and which of soft wear packages they use (ie MYOB etc etc).

Thanks in Advance.

We are using online bookkeeping software ZipBooks. There are some pricey solutions around like Quickbooks, Sage etc. But this one is absolutely free. And the interface is cool.