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Thread: Quickbooks?

  1. #1
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    Quickbooks?

    Hi all,

    I have a quick Quickbooks question? Do any of you who operate as sole proprietors in the US use this software? I just purchased it and am interested in hearing how you've set it up. Basically, I want to use it to track my business and personal accounts.

  2. #2
    Senior Member dlowe93's Avatar
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    Re: Quickbooks?

    Originally posted by Tw4win
    Hi all,

    I have a quick Quickbooks question? Do any of you who operate as sole proprietors in the US use this software? I just purchased it and am interested in hearing how you've set it up. Basically, I want to use it to track my business and personal accounts.
    I've used it, but found it to be a lot more than i need. As a sole-propretior who's revenue is 99% fee-based and has no inventory or stock to manage, i find it's easier for me to just keep track of my expenses using Quicken, and then using that to create P&L sheets at the end of every quarter.

    I think Quickbooks is great if you understand accounting and have a business that requires a lot of bookkeeping (ie. you have a lot of accounts payable and recieveable, payroll, and/or inventory).

    Believe me though, a good accountant is worth every penny. I only meet with mine twice a year, once for taxes and once for a mid-year checkup, so it's not like you have to shell out a couple hundred bucks a month to have an accountant.

    d.
    dlowe93

  3. #3
    FK M.D. pheck's Avatar
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    i use quickbooks for my sole proprietorship and like it a lot. it does all the reports i need with one click of the button. and setting up accounts is a snap (bank, credit card, cash slush, owner's capital, etc). another nice thing is it reminds me of things i haven't thought of (reconcilation of accounts, credit reports, tax things). once you use it for about a month it is very easy. and it's similiar to quicken so if you use that, you're already half way there. the other bonus is if you need to expand your business, you ahve the power already there to do so.

  4. #4
    Senior Member dlowe93's Avatar
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    Note:

    pheck is much smarter than i am, so i'd take his advice over mine.

    d.

    do they make quickbooks for osx? just what i need, to have to buy more software...
    dlowe93

  5. #5
    FK M.D. pheck's Avatar
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    note: dlowe has some of the most impressive credentials on these boards. i'd listen to him.

  6. #6
    Senior Member dlowe93's Avatar
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    Originally posted by pheck
    note: dlowe has some of the most impressive credentials on these boards. i'd listen to him.
    heh.

    blind luck and good looks, that's about it.

    Seriously, pheck, after reading your recommenation, i might have to give Quickbooks another look. My end of year is always painful, but part of that is i'm a lazy accountant. Good thing my wife handles all the household bills.

    d.
    dlowe93

  7. #7
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    Quickbooks seems a bit over complicated. How do you set up your accounts?
    Freelance DTP/Web Design/Localization/
    Translation Memory Consulting
    mark@blackcatservices.com

  8. #8
    Senior Member dlowe93's Avatar
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    Originally posted by Tw4win
    Quickbooks seems a bit over complicated. How do you set up your accounts?
    I use Filemaker Pro. It's not really set up to do accounting, but i built a database that works, but could probably work a lot better.

    d.
    dlowe93

  9. #9
    FK M.D. pheck's Avatar
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    ctrl-a then ctrl-n

    but i know you could have figured that out on your own. if you take a couple hours to get it set up for your company, you'll be glad in the end. another nice thing i didn't mention before is i can track my hours, subcontractors, hours assignable to which client, and invoices all within the program. when it comes time to send an invoice, i just type a few things in and it automatically puts in the hours, client, etc, then it sends the invoice over email for me, and (altho i don't use this feature yet) allows my clients to pay me online. pretty slick.

  10. #10
    Banned vampstko's Avatar
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    i set up a corp. my accounbtant does most of the books. i use quickbooks to do me invoicing and she handles the books from there

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