MYOB, Peachtree, ACCA accountancy software

Posted by woodphil (27 days ago)

I'm after some advice regarding accountancy software.

In the future I intend to run my own business (bar/restaurant) and I would like to take care of the accountancy and bookeeping and admin side of things myself without the need to hire an external accountant.

At the moment i have no expereince or qualifications in bookeepin or accountancy.

I am looking for a program that will help me to achieve this, basically teach me how. Does MYOB or Peachtree do this for me or is it just a program that I use?

Do I need to enrol in an accountancy course like ACCA or will purchasing MYOB or Peachtree provide me with the skills that i need to learn.

Anybody who has any experience in this area who can offer me some advice would be much appreciated.

Thanks

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Posted by dannyboy77 (27 days ago)

We use quickbooks. It's simple and gives you everything you need.

I would however recomend getting an accountant to set up your company within quickbooks as they will do it properly from the start. I spent several years using qb without fully utilising it as a business tool. QB gives you up to date info at the push of a button

Posted by woodphil (27 days ago)

Thanks Dannyboy.

If I buy Quickbooks will it guide me through the basics? Im looking for something that will teach me about accountancy as well as providing me with the required software.

Will Quickbooks do this?

Thanks

Posted by dannyboy77 (26 days ago)

Quickbooks is a full accounting tool and is very easy to use. If you get an accountant to set it up for you and create some standard reports (monthly P/L, balance sheet, cash flow forcast etc) you need very little knowledge to do basic book keeping.

I learnt how to use it from the manual. You will need a basic understanding of accounts to use any accounting software (basic meaning you know what an invoice is and what a balance sheet/p&l are for). I picked quickbooks as it's the most simple and user friendly.

You can probably download a demo version online. I use the QB Premier because I work in several currencies, you could probably get a cheaper more simple single currency version