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I have been using GoDaddy bookkeeping per recommendations of Jay and Ryanne on the forum here. It pulls in the financials for eBay, PayPal, and many other sites. I put in my COGS, mileage, and other expenses. Overall, it’s pretty simple.
I understand that Quickbooks is a very versatile program, but is more complicated to learn. Quicken is another program that is a bit more simpler (from what I understand), but more complicated than GoDaddy. All the programs have online accounts. Quickbooks and Quicken have versions if you want them to be only resident on your computer. GoDaddy is based purely online.
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Sharyn and others are steering you correctly
QuickBooks is an Accural system [general ledger and Journals] and is more suitable for businesses that need to create invoices to submit to their customers and at year end, if they have unpaid balances, from those they have invoiced, the balances get carried over to the next year.We used to use QuickBooks but finally just changed over to Quicken Home and Business. Just no need for that kind of fire power and at such a high cost.Everything is on your computer unless you wish to use their back-up system.
We are a Sub S Corporation and it works for us to fine. It has been greatly improved after Intuit [the QuickBooks Comapny] sold Quicken to a separate company and they did a lot of improvements. Quicken is much cheaper than QuickBooks also.
In all cases any user of these software programs, even go daddy, you need to have some understanding of accounting. We have even figured out a work around to be able to create and submit invoices for some services we do.
Quicken interfaces and downloads from our bank, credit cards, and PayPal. It handles or personal accounts and keeps those separate from our business accounts and balances. We reconcile monthly and get reports and Quicken furnishes a Balance Sheet and a Profit and Loss statement. These reports will also show dollar amounts and the percentages of those expenses against the business income. AND we keep multiple stores separate also.
There is just a little bit of a learning curve to get everything set up the way you want it. Unless you are creating Purchase Orders for buying lots of stuff from vendors or are sending invoices out to sub-contracts or billing your customers just no real need for QuickBooks.
Hope this helps to some degree.
Mike at MDC Concepts, Inc.
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I wanted to let fellow trash elves know that I am a bookkeeper by day and am happy to help any of you with QuickBooks questions. I work for a CPA who can offer a 30% wholesale discount on QuickBooks. The version most of us need is Essentials so that would be $28/month. I believe most accountants who use QuickBooks can offer that, but if you don’t have an accountant, feel free to reach out and we can look into getting you a discount. I don’t get anything from this, but wanted to share in case anyone was considering signing up. Sometimes there are deep discounts on QuickBook’s own site but they are usually for 3-6 months so I think the 30% wholesale for the lifetime of your contact is still better. I just use the most basic version now because I’m low volume, but look forward to having all the bells and whistles when it makes sense financially.
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Hi again. I should have said that we tried Godaddy bookkeeping, i hated it an even managed to screw that up so cancelled it. Now were left with sticky notes everywhere, well that is till they fall off onto the floor then lost. Were fine at selling and get lots of sales. We really suck at keeping records. We find it really difficult. How do we get this problem sorted. Suzy.
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