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Subject Author Date
Is Quickbooks For Me? Sharif 07-30-2007
Posted by Sharif on July 30, 2007, 7:32 pm
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 Hello All,

I work as a freelance developer in web technology and since I started
last year I have been using Quicken for my accounting... and a few
days ago I decided to see exactly how far I've come and the reporting
is so screwed up.

So I'm doing a revamp of my business, actually getting incorporated
and all that and I know this time around my account needs to be in
shape.

Will Quickbooks work for me? I need to send invoices, manage customer
payments, track sales of each service I provide, possibly time sheets.
And the only other thing, I don't have any employees, it is just me so
how would payments work? My personal checking account is used for all
business transactions anyway, what would I do then?

Thanks for any advice.


Posted by Laura on July 30, 2007, 7:53 pm
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> Hello All,
>
> I work as a freelance developer in web technology and since I started
> last year I have been using Quicken for my accounting... and a few
> days ago I decided to see exactly how far I've come and the reporting
> is so screwed up.

Can you be a little more specific? Quicken (and quickbooks) reporting is
only as good as the user sets things up. If you did not set things up
properly then your reports will not be meaningful.

> So I'm doing a revamp of my business, actually getting incorporated
> and all that and I know this time around my account needs to be in
> shape.
>
> Will Quickbooks work for me? I need to send invoices, manage customer
> payments, track sales of each service I provide, possibly time sheets.
> And the only other thing, I don't have any employees, it is just me so
> how would payments work? My personal checking account is used for all
> business transactions anyway, what would I do then?

Depending on your actual company tax entity you will either pay yourself a
paycheck or take draws. Talk to your accountant to see how he/she wants you
to handle payments to yourself.

The first thing you should do to set things up correctly is to get a
business checking account and credit card. Stop using your personal accounts
asap. That will simplify your QB setup and accounting.
>
> Thanks for any advice.
>


Posted by Michael on July 30, 2007, 7:54 pm
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I also run a Web Design business. I use Quickbooks and it works fine. It
does all of the things you listed. I strongly recommend you get business
checking and credit accounts and keep everything seperate from your personal
accounts. The IRS does not look fondly on comingling monies. If you
incorporate, you'll have to keep them seperate. If you decide to use
Quickbooks makes sure your accountant can read your data files.

Mike



Posted by Allan Martin on July 31, 2007, 11:37 am
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> Hello All,
>
> I work as a freelance developer in web technology and since I started
> last year I have been using Quicken for my accounting... and a few
> days ago I decided to see exactly how far I've come and the reporting
> is so screwed up.
>
> So I'm doing a revamp of my business, actually getting incorporated
> and all that and I know this time around my account needs to be in
> shape.
>
> Will Quickbooks work for me? I need to send invoices, manage customer
> payments, track sales of each service I provide, possibly time sheets.
> And the only other thing, I don't have any employees, it is just me so
> how would payments work? My personal checking account is used for all
> business transactions anyway, what would I do then?
>
> Thanks for any advice.

If you are incorporating then your company will have at least one employee
requiring payroll, namely you.


>



Posted by HeyBub on July 31, 2007, 12:00 pm
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Allan Martin wrote:
>
> If you are incorporating then your company will have at least one
> employee requiring payroll, namely you.

I'll bite: why must a corporation have ANY employees? Can't the Board of
Director (not employees) hire a management company who, in turn, contracts
all the work out to off-shore workers in Bangladesh?



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