Receipts.. whoops

[Sim]

Originally posted by Nicholas H
One of the things I really would love to add to the program if it does not exist is a saving a file with a transaction .. so I can scan in recipts with it.

I think Dunc was going to add some functionality like this to his Property Tracker software www.otter-software.com.au - not sure if he got around to it though.

 

[Sim]

Originally posted by Nicholas H
actually the thing that annoys me most about quicken is that I format my pc's OS every 6 months or so, and the serial will not work again .. so you have to email them to be able to use the product you bought. I do not think I will buy one of there products again

Nicholas, I reformat / rebuild my machine at least once a quarter, and owning both Quicken and Quickbooks it is a pain - but I know the support line people by name now

Get used to it, WinXP will make you do the same if you make changes to your PC and re-install.

 

[duncan_m]

Originally posted by Sim
I think Dunc was going to add some functionality like this to his Property Tracker software www.otter-software.com.au - not sure if he got around to it though.

Sim, we actually did it and have now started to use it personally.. we're just finding the vagaries of TWAIN and other issues a pain in the support area.. it remains to be seen if we'll release it or not.

Duncan.

 

[Sim]

Re: Shoeboxes for Dummies

Originally posted by Donna L
OK - I was going to make this a Jan Somers moment and write a book, hold seminars etc. but just for you guys - this is how it works presuming you are using a computer system which allocates transaction numbers like MYOB does.

I like Jakk's way better

But thanks for sharing that Donna !!

 

[Sim]

Originally posted by duncan_m
Sim, we actually did it and have now started to use it personally.. we're just finding the vagaries of TWAIN and other issues a pain in the support area.. it remains to be seen if we'll release it or not.

On the subject of scanners and such, I moved to managing my work expense claims electronically (and there are lots of them since I travel so much for work).

I now scan all hardcopy receipts and such, and use Acrobat Writer to create easily manageable and printable versions of electronic documents.

... and I use ScanSoft's PaperPort to manage it all. One of the best bits of software I ever bought !!

In adition to my flatbed scanner for small receipts and plane boarding passes, my fax machine also serves as a sheet-feed scanner, so I can scan my 100 pages of phone, mobile, calling cards and ADSL bills etc quite easily - saves so much time and so little paper to manage !! (we need to keep copies of our receipts we submit for reimbursement since the expense processing centre tends to lose them occasionally and then you wont get your money)

 

[Pedro61]

Most bookkeeping programmes issue a transaction number when you enter them into your system. Rent received might be Cash Receipt (CR) 00001) so on your first rental statement at the bottom write CR1.

Hey SIM and Jakk

I'm just implementing Quicken Personal Plus at home. Do either of you know if it wil allocate such transaction numbers ??? This will make it easier to link each entry to a receipt.

The reissue of a new installation key when reinstalling is something I wasn't aware of, but as long as I dont mess about too much with my system I can deal with that when it happens.

Cheers

 

[Sim]

Quicken doesn't have that type of facility to enter numbers automatically. However, there is a "Ref" or "Num" field in each register where you can enter a tracking number yourself. For Cheque accounts, it is used to track the cheque number - but you can enter anything you want in there. Just don't use numbers for cheque accounts, because it will upset the cheque number counter.

 

[Queen Bee]

Quicken 2003 for Mac

I had been using Excel to do all my business expenses but decided recently that I needed to upgrade.

Was recommended Quicken by an Accountant (not mine) who I met at a networking group meeting. Well now it seems that because I have an iMac it's version of Quicken is different than the PC version.

I'm really p....sed off that I bought it now because I can't do my GST deductions on it, which was the whole point of buying it in the first place. I have to do that bit manually (which isn't a big major - but it's damn annoying). I wish I'd bought MYOB now - does that do GST. I want something that will do all my profit and loss statements, something that will let me create invoices (that I can customise if I want) and expenses of course, and somewhere where I can create quotes (for my other business) and keep all my property investment stuff on it.

Any recommendations. What about Quickbooks - or anything. Is anyone else using a Macintosh out there?

 

[Sim]

mmm... I didn't think there was a Mac version of the latest generation of Quicken products released for the Australia/NZ market ? They certainly don't talk about them on the quicken.com.au website.

Do you have a local version ?

I'm pretty sure there is no Mac version of Quickbooks either for Aus/NZ, so looks like you are stuck with MYOB. I don't have any experience with the Mac version, so I can't comment.

 

[Queen Bee]

Quicken

Thanks Sim

Mine is a US version. Although there is a website www.intuit.co.nz but it's linked to the US site.

I've never looked at MYOB, does it do all that stuff that I need, do u know? Maybe I'll just look at the website and see if they've got a free download so I can try it out. Someone said MoneyWorks was good, anyone tried that.

I'd really like something that does everything I want, but I suppose that's asking too much? Oh well, but if anyone's got any ideas it would be appreciated.

 

[brains]

Re: Quicken 2003 for Mac

Originally posted by Queen Bee
I had been using Excel to do all my business expenses but decided recently that I needed to upgrade.

Was recommended Quicken by an Accountant (not mine) who I met at a networking group meeting. Well now it seems that because I have an iMac it's version of Quicken is different than the PC version.

I'm really p....sed off that I bought it now because I can't do my GST deductions on it, which was the whole point of buying it in the first place. I have to do that bit manually (which isn't a big major - but it's damn annoying). I wish I'd bought MYOB now - does that do GST. I want something that will do all my profit and loss statements, something that will let me create invoices (that I can customise if I want) and expenses of course, and somewhere where I can create quotes (for my other business) and keep all my property investment stuff on it.

Any recommendations. What about Quickbooks - or anything. Is anyone else using a Macintosh out there?

MYOB will let you customise and print quotes and invoices. It does all GST, P&L reports, balance sheets, payroll, job cost tracking, cashflow, inventory, sales, purchasing, time billing (eg: accountants, solicitors), you name it and it does it.

It has a feature called BASLINK, at the end of every quarter it can print out an exact copy of the BAS form with every figure printed in its correct spot, including PAYG witholding tax , the lot.

You just transfer these figures to the original ATO BAS form and write the cheque and your away, couldnt be simpler.


Have a look at www.myob.com.au

 

[Donna L]

CALLING QUEEN BEE

I use MYOB on Macintosh. There are several versions. The full one which includes payroll etc. There is also the one I use which is called First Accounts. Still does GST etc. It still does everything except the payroll and is just a little more streamlined and easier for those who don't want to get too anal in the bookeeping.

 

[brains]

Donna,

MYOB First Accounts is great for sole traders or small home based businesses with no staff.

MYOB Accounting Plus is for businesses or companys that have staff and payrolls, need to track inventory or any of the other stuff
noted in my last post that small one man band businesses dont need.

If your business grows to a level where you require a more comprehensive accounting program im sure you wont be using First Accounts anymore, or maybe you will because to upgrade would be anal retentive, right?.

 

[Alex P Keaton]

Hi all,
If you check out your last returns there are headings (Alphabetical) like Agent fees, Insurance, Maintenance, Postage etc, Sundry expenses. Try to put receipts in the categories as the longer the tax agent has to spend categorising the expenses for you the higher the charge. If in doubt, ring the tax agent as most are only too happy to help set you on a more ledgable system.
Cheers Brenda.

This is a good idea!

After I get my 1st tax return back I will have more idea of what to do the next time around.

 

[Alex P Keaton]

OK Folks,
I have the answer for all of you, Saint Jakk, patron saint of all messy desktop owners has a system that will revolutionise the way you record and keep receipts and have them accessible within a minute.
This system actually changed my life, prior to this I had boxes and envelopes and more boxes and mess....I think you get the picture.

Firstly one must get a computer software accounting package like the one Sim wrote about above. There is a heap out there, personally I use Quickbooks nowadays after originally starting out with Quicken 3, a few years ago. (I believe Microsoft Money will do similar stuff and you'll usually find it bundled up with other Microsoft software) ...Ask Sim or one of our other computer people on here about the functionalities of these accounting packages.
Ok here's the deal, Then you get a box of suspension files and tab them up in thus fashion......January 2002, February 2002, March 2002, April 2002......and so on...........I think you all get the drift so far.........then you go to your shoebox, big plastic box, garbage bag, wallet or wherever your receipts are, Get them out and enter them in your computer accounting software package, The date you enter is the date you paid it......."you all with me so far" then you categorise the expense or sub categorise it.
You see these accounting packages are marvelous things, they allow you to set up categories for anything you like...for example say you have a property King Street, the main category would be ..you guessed it.....King Street... and sub categories would be all the things about King Street like insurance, council rates, water rates, letting fee, collection commission, rent recieved, gardening, maintenance, .....you got it so far?....
Then when you have entered the receipt you put it in the suspension folder for that month.....simple huh?
Thats the problem, we all think things have to be complicated to be great, not true....and before you ask, What about all those miniscule receipts, they'll get lost or fall out of the end of the suspension file......this system caters for that as well.
For each suspension file you get yourself an envelope and with a big black texta or any other favorite colour, you write the corresponding month on it and put it in the suspension file to house all those eeny weeny receipts e.g. in the March 2002 suspension file you would have in there an envelope marked March 2002. How easy is that?

I also use one of those desktop file frames and at the end of the financial year, I take the 12 files June to July and put then in the filing cabinet.....viola .....done....and start the new financial year. Accessing the receipts is easy, firstly look it up on the computer, and go to the suspension file for that month....viola....there's the receipt.

The other added benefit is that with this system if you have a receipt for multiple items that are attributable to different properties or part personal etc. the accounting package has a "SPLIT" feature that allows you to break down the amount to seperate categories e.g. seperate properties.

So there you have it........the patent pending JakkFile (TM) SuperSystem.

Let's face it folks, we all have heaps better things to do with our lives then spend countless hours punching holes in minuscule recipts and labelling Ring Binders.

Any questions, feel free to ask, I am the filing GURU.

Sim, Is there anything I forgot?

regards

Some good tips here too

 

[PeterC]

problem with bringing 7 year old threads out from the dead is the information contained within may not be as relevant as it once was. and many people read it not realising the dates. many of the software mentioned in this thread are very out of date...