Accounts package or Plain old spread sheets

[Kwacker]

What do you lot think?

The business is a small one, so should I buy a software package like MYOB Basic, or should I stick to simple spreadsheets?

I have had a look at MYOB and although it does seem very comprehensive, it still goes way over my head. I think I can drive a simple spread sheet once I get used to the accounting terms, but will I regret not using proper software?

Daniel Cukier
A&C Stoneworks Ltd.
www.ac-stoneworks.co.uk

[Plotloss]

Depends, if you have to ready your books for the VAT man or are Ltd then I would suggest the fit for purpose software.

If however you are a sole trader not expecting to break the VAT threshold then spreadsheets are the way...

[PetrolTed]

I started off on spreadsheets and it gets to a point where you start building in all sorts to the spreadsheet.

I switched to QuickBooks. It would have been a lot easier to do had my accounts been simpler at the time I made the switch so I'd advocate learning a package whilst your accounts are simple.

A good package will also generate more professional looking paperwork to send to clients.

QB is only £100 or so.

[PetrolTed]

Plotloss said:

If however you are a sole trader not expecting to break the VAT threshold then spreadsheets are the way...

Things can get pretty complex even before you reach that threshold.

[Eric Mc]

My general advice is that dedicated book-keeping software is best handled by those with some knowledge of the basics of double entry book-keeping. I have seen absolute disasters caused by individuals who did not really understand what they were doing. Get some advice from your accountant.

[VEX]

It depends what you want it to do.

I bought Hansa Office2 8 months ago and it nocks sage into a the dark ages.

Full stock holding.
PO's
SO's
VAT accounting

and a full CRM (Customer Retations Management) system

£700!

Well, well worth it.