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Subject Author Date
Using Quickbooks PatJennings 09-07-2006
Posted by PatJennings on September 7, 2006, 5:23 am
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 What are apropriate costs for using Quickbooks to track a business?



Posted by Peter Saxton on September 7, 2006, 6:02 am
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 On Thu, 7 Sep 2006 05:23:01 -0400, "PatJennings"

>What are apropriate costs for using Quickbooks to track a business?
>
Depends on the business.

--
Peter Saxton from London
peter@petersaxton.co.uk

Posted by PatJennings on September 7, 2006, 7:51 am
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I'm considering using Quickbooks to manage a small services business. Three
employees, none with accounting skills - or time available. Would hire out
someone to keep the books for the business. Annual salesare in the range of
250,000. Need payroll and tax reporting.
> On Thu, 7 Sep 2006 05:23:01 -0400, "PatJennings"
>
>>What are apropriate costs for using Quickbooks to track a business?
>>
> Depends on the business.
>
> --
> Peter Saxton from London
> peter@petersaxton.co.uk



Posted by Peter Saxton on September 7, 2006, 8:50 am
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On Thu, 7 Sep 2006 07:51:38 -0400, "PatJennings"

>I'm considering using Quickbooks to manage a small services business. Three
>employees, none with accounting skills - or time available. Would hire out
>someone to keep the books for the business. Annual salesare in the range of
>250,000. Need payroll and tax reporting.
>> On Thu, 7 Sep 2006 05:23:01 -0400, "PatJennings"
>>
>>>What are apropriate costs for using Quickbooks to track a business?
>>>
>> Depends on the business.
>>
>> --
>> Peter Saxton from London
>> peter@petersaxton.co.uk
>
If you have an expense in the business and it isn't on your chart of
accounts then add it. I'm not too sure why there's a problem.

--
Peter Saxton from London
peter@petersaxton.co.uk

Posted by Lisa C on September 7, 2006, 9:56 am
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> I'm considering using Quickbooks to manage a small services business.
> Three employees, none with accounting skills - or time available. Would
> hire out someone to keep the books for the business. Annual salesare in
> the range of 250,000. Need payroll and tax reporting.

QuickBooks is a software package that facilitates record keeping for a small
business.

The cost of the software varies by version and by number of simultaneous
users (licenses).

The abilty to use QB for payroll is an additional cost, which varies from an
annual subscription of $199 (US version -- and you print out the checks
yourself) to a 'call up for estimate' price for having Intuit provide a
payroll service fully integrated with your QB data.

The amount of bookkeeping required would depend on your business. Where are
you located? What is the average hourly rate for bookkeepers in your area?
How intensive are the bookkeeping chores? How do you sell and price your
services? Do you keep inventory? What, exactly, would you want the
bookkeeper to do? Will they be responsible ONLY for payroll and tax
reporting? Will anyone else be using the file to enter sales? Or will the
bookkeeper also be the data entry clerk?

In my small contracting firm, payroll takes under an hour per week. My
employees hours are on weekly timesheets, and I only enter the summaries
(total hours, vacation, sick, etc.). It would take substantially more time
if I used the option to gather payroll information from timesheets, and
entered all the timesheet information (1-5 customer visits per day per
employee).

Producing tax reports is also a minimal chore that I could do myself, but I
prefer to send the datafile to my accountant's office. The accountant's
clerk makes sure all the 'i's are dotted and the 't's are crossed, and the
accountant gets a chance to review an a regular bases as she sees fit.

But, the bulk of *my* QB use is in estimating and billing. For that, I have
a full-time billing agent.

So, how much is the 'appropriate' cost? That's like asking what is the
'appropriate' annual cost for groceries or dining out. It is what you want
to make of it.




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