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Best Accounting Forms 2018 – [Buyer’s Guide]

Last Updated December 1, 2018
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Billy JacobsHey friends! I’ve got something important to talk about today! One of the most important sections in the article – the comparison charts for best accounting forms in 2018!

My main objective is to write article on these subject so that buyers like you can have the best assistance and education in making that next purchase. In this section we provide our readers with a comparison table of our top picks. Scroll past the table for a closer look at each of the 3 best accounting forms in our review section.

Best Accounting Forms of 2018

You must have heard that the best accounting forms should allow you to save money, right? Sure, but that’s not the only reason you should consider getting one. I’ve based my selection methodology on customer feedback, the size, functionality, and budget to meet various demands.

I am going to specify each good-to-buy feature as much as possible for your references. I browse the various accounting forms available on the market and list three of the very best.

Test Results and Ratings

Rank №1 №2 №3
Product
Total 4.8 4.5 4.3
Design
5 points
4 points
4 points
Materials
5 points
5 points
4 points
Construction
4 points
5 points
4 points
Quality
5 points
4 points
5 points
Awards 1
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How to save up to 86%? Here is little trick.

 

 

№1 – Wilson Jones G7206A Accounting Pad

 
Wilson Jones G7206A Accounting Pad

Pros
Numbered rows
Green tint bond paper printed in green and brown inks
50 sheets per pad
Cons
Literally no flaws
 
Total:
4.8

Why did this accounting forms win the first place?

I really enjoy the design. It is compact, comfortable and reliable. And it looks amazing! I am very happy with the purchase. It is definitely worth its money. The product is top-notch! I also liked the delivery service that was fast and quick to react. It was delivered on the third day. The product is very strong. Its material is stable and doesn’t crack.

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Design
5

5star

Materials
5

5star

Construction
4

4star

Quality
5

5star

 

 

№2 – Wilson Jones G7213A Accounting Pad

 
Wilson Jones G7213A Accounting Pad

Pros
Perfect for setting up computer spreadsheets.
All rows and columns numbered for accuracy and fast referencing.
Shaded alternate thousands columns prevent “decimal slip.”.
Cons
Guide can be a pain.
Inconsistent results.
 
Total:
4.5

Why did this accounting forms come in second place?

The material is pretty strong and easy to wash if needed. I recommend you to consider buying this model, it definitely worth its money. I really liked it. It is amazing in every aspect. It did even exceed my expectations for a bit, considering the affordable price. The design quality is top notch and the color is nice.

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Design
4

4star

Materials
5

5star

Construction
5

5star

Quality
4

4star

 

 

№3 – 1099 MISC 4 Part Tax Forms Kit

 
1099 MISC 4 Part Tax Forms Kit

Pros
Quickly print and mail your 1099s with our 1099 MISC bundle that includes everything you need to file your 1099s for your vendors and suppliers
All printed fields will perfectly line up with the correct boxes when using Quickbooks or other tax software when using both Laser and Inkjet printers
Cons
May be a little heavy for some people.
Not designed for left-handed users.
 
Total:
4.3

Why did this accounting forms take third place?

I liked the design. We’ve been using it for 2 months and it still looks like brand new. It doesn’t squeaks nor bents. Looks great in my apartment. It is inconvenient to use due to the size. I am going to get something different next time. A very convenient model. It is affordable and made of high-quality materials.

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Design
4

4star

Materials
4

4star

Construction
4

4star

Quality
5

5star

 

 

Accounting Forms Buyer’s Guide

If you keep the before points in mind, you can easily go out to the market and buy accounting forms, right? No!

Accountex

Capterra went last year and we’ll be there again this year. Come see us and learn something at the same time.

There are few parts of a business that are more important than having your financial ducks in a row. Sure, having a great seller or a great product plays a huge role, but, behind the scenes, it’s your management of costs and finances that will make or break you.

Just look at the state of the restaurant industry and you can see the danger of not managing your cash. 

About 60% of restaurants close their doors in the first three years of life – and not for lack of a good chef.

If you don’t understand what you’re making, spending, and saving, you aren’t going to end up with a successful business. That’s where  accounting software comes into play.

Accounting software takes all of the most difficult parts of accounting – math and form filling – and does them for you. You’re then left to run the business you want to run without having to worry about whether you’ve got money in the right accounts to pay your rent.

Before we dive into how accounting software manages all this, I’ll drop my standard warning. 

Get an accountant. You might not need a full-time employee, but you’ve got to have some sort of relationship with an accountant who understands your business, your goals, and you.

These days, accounting automation is a wonderful and streamlined thing. You can take a picture of your A&W Root Beer receipt and software will automagically transport it into your accounts. No amount of automagic, however, can replace someone who knows the ins and outs of the accounting world.

Get a recommendation from a friend or trusted source and get yourself an accountant. Rant over.

Welcome to the world of accounting software

I actually enjoy folks who have had some time accounting in Excel, because they appreciate the magic of a decent accounting package.

Accounting software takes the ledger entry process, adds a small dash of Excel’s simplicity, and then makes the whole thing run much more smoothly.

Most software options now tie into your bank accounts, making entry easier than ever. You can pull down your statements, sort through the entries that aren’t automatically put into the right accounting buckets, and tag them yourself.

Accounting software also generates all sorts of information in real-time. You can see how your business is performing right now, without have to do anything but look at your dashboard.

At its core, that’s how accounting software works. It takes the financial inputs that you give it and spits out a snapshot – or a history – of how your business is performing. It’s what surrounds that kernel that really distinguishes one software from another.

Next time, we’ll talk about how you determine which system is going to sit at the center of your financial universe. We’ll look at integrations, features, and pricing to get an idea of where you should start your search.

Capterra’s finance blog. If you’re ready to get started on your search for the perfect accounting system, head over to  our accounting software directory

If you’re a small business interested in really getting to know the software, systems, and support behind some of the biggest names in accounting software,  check out the line-up for this year’s Accountex conference accounting software what is accounting software

Standard accounting software features

There are hundreds of common and proprietary features that an accounting software can come with. We’ll talk about a few of the most common features and why they’re useful. Then we’ll cover some options that are on the rise. By the time we finish this section, you should have a good idea of what you’re looking for at a basic-level in accounting software.

Double entry accounting is the basis for most small businesses and almost every accounting system relies on it. You might be part of a small group that’s looking for simple, cash-based accounting, but it’s unlikely. Look for this at the core of your software.

Importing transactions from your bank account is a must, in my book. Some folks are hesitant to put their online banking details into another system, but with today’s security, there’s not much increase in risk. The benefit of being able to import all your transactions with a click is huge.

Cloud-based accounting software is close to the new normal. Anywhere access, no need install or upgrade, and data automatically backed up is a hard menu to beat. The downside here is that you’ll be buying into a recurring fee. For example, you can purchase QuickBooks desktop version once and just never upgrade – I do not recommend this, but it’s possible – while QuickBooks Online is going to cost you every month.

Reporting tools are the third best reason to buy accounting software – the first is to not go bankrupt and the second is to not have the IRS kick your door in. Easy, useful reports can help you find new ways to save and make money, without requiring you to dive into the details.

Accountant access might not be a strict requirement, but I’m close to calling it one. The ability for your accountant to just access your books at any time makes a horrific and tedious process much easier.

These are what I consider to be the basic requirements of an accounting package for the average small business. Now, we’ll talk about popular add-ons, options, and integrations.

Accounting software extras

Once you’ve got a few base packages in mind, it’s time to pick out some chrome wheels. The smaller, more niche features in this next list are the things that make accounting packages different. Some of the bigger players cover all this ground, but with varying degrees of success. Make sure you check what’s included when you make a purchase.

Payment processing built into the accounting system is a huge feature these days. It makes the software company more money, saves you a step, and increases your dependence on your accounting package. There are plenty of third-party options and they are designed to play nice with most accounting software. Very optional.

Payroll processing is in the same boat. Profitable for the vendor, easy for you. Again, there are a ton of different third-party options out there. Basically, you want to get a small amount of data into your system on a semi-regular basis. Payroll – and payroll tax, specifically – is a massive pain. If you employ more than a handful of folks, I would either get this built-in to the accounting system of your choice or farmed-out to a service provider. Optional for the smaller players.

Multi-currency support for businesses that deal across international lines is a must. Not every accounting software deals with this and some require that you buy in at a certain level to get support for other currencies. This one is pretty clear, and you’ll need it or not, with no grey area.

Mobile apps for accounting on the go can be invaluable for businesses that spend a lot of time in the field. Most of the bigger companies are forced to do this by default now, with mixed results. Some up-and-comers have made mobile a key to their success, so there’s a wide range of quality and integration to be found. Optional, for most.

Invoicing in your accounting software is pretty easy to come by, these days, and can save a great deal of time. Unlike payroll, the numbers change frequently, you bill folks more often, and things have a timeline after issue that needs to be accounted for.  Fewer moving parts means that built-in invoicing is optional, but super useful.

Third-party integrations make the world go round. At some point, you might want to do more than your software is designed for. Add a barcode scanner, capture receipt data in visual form, link into your CMS, or tack on a more robust accounts payable feature. To do that, the software needs to have either an accessible API, an existing integration, or a path to customization from the vendor. While not everyone will end up in this scenario, the flexibility is very nice. Another optional, but super useful, feature.

There are hundreds of other features out there, but these six are the ones that are most likely to come up in some form.

Internal and External Documents

Documents and forms can either be for external, internal or both.

External documents and forms are those that are issued or given mainly to parties outside the business as proof of a transaction done with the company. Some of these are Official Receipts, Sales Invoice, Purchase Orders and Check or Cash Vouchers.

Internal documents on the other hand are those that are generated and maintained principally to establish internal control and monitoring. These documents are issued and circulated within departments and personnel as proof of transactions that have taken place inside the company and among the staff to trace responsibility. Some of these are the Purchase Requisition, Disbursement Forms and Liquidation Forms.

Sales Invoice

A Sales Invoice or Bill is an external document produced by the company and is sent out to its customers to bill them for service rendered or goods purchased. The SI contains information in reference to the services rendered or items delivered, the date they were delivered, the PO number made for the sales, the date when the payable is due, the payment terms and other conditions. Inquire with your state government agencies regarding the regulations of SIs. Tax regulatory bodies in some states require the official registration of SI to make them effective and binding. Some states further require the accreditation and registration of printing press and manufacturers who provide SI forms to companies. Invoice machines also have to be registered. Failure to register will result to levies and penalties. In other countries, Billing Statement is issued for goods delivered instead of SI and SI is issued only upon payment.

Official Receipt

An Official Receipt is another external document issued by the company to its customers evidencing the receipt of payment for services rendered or goods delivered. An OR contains the date payment is received, the SI or billing statement the payment pertains to, the payer, address of the payer, the federal registration of the payer, amount of federal taxes included and all other information the tax regulatory bodies of your state require. Among the documents in the accounting records, the OR is the most regulated of all. The company cannot produce their own OR forms unless registered with the tax bureau. There is also an expiry date as to the effectivity of blank OR forms. In some countries, ORs are only issued for receipt of payment for services rendered while SI are issued for receipt of payment for goods delivered. It is best to consult with your concerned government agencies before issuing or producing your OR forms.

Have a filing system for auditing and documentation purposes

All of these forms are accounted for through a numbered sequence. These forms are supplied in duplicates and sometimes, in triplicates to furnish a copy to every party involved. These documents are very essential during audits, queries, tracking of transactions and all other events the company may deem necessary. That is why it is very important to devise a good filing system of these records. If you are a budding entrepreneur, include in your to-do list the implementation of an efficient and effective documentation system.

Today people are lucky enough to have other options other than the conventional way of producing these documents. They may be paperwork, but they don’t necessarily have to be on paper. Now, there are digital documents, database systems, and online forms. Nothing beats hard copies but you can make use of the free templates on the internet for your documentary needs. As long as the formats provide you with the information your business needs, feel free to use the best one you can find.

Forms Printing

The Frazer Dealer Management system is supported by a team of dedicated programmers who will program all the forms your dealership needs to complete deals with your customers. 

White paper contracts- no more carbon copies! Use Frazer’s built in contract, or subscribe to print Bankers System or LAW contracts

Get In Touch

At Dawson & Associates, C.P.A., P.A., we’ve been serving the accounting needs of Coconut Grove, FL and the surrounding areas for years. If you need help managing any aspect of your home or business’s finances, we want to hear from you.

Accept Deposits on Sales Orders and Invoice Flows

There are a number of great enhancements in NetSuite’s 2012.Release. One of them is the ability to accept deposits on sales orders and invoice flows. We’ve had several customers request this functionality. With Release 2012.1, it’s now quite simple to do so!

Writing off Bad Debt

This tip walks you through the steps of writing off a bad debt in NetSuite. Bad debts are unpaid invoice amounts that you cannot collect from customers. Writing off bad debt cleans up your accounts receivable register and gives you a more accurate estimate of the payments your company expects to receive.

Multiple Fiscal Years For OneWorld

In OneWorld accounts, the new Multiple Calendars feature enables you to set up and use different accounting period rollups for your subsidiaries. This capability enables you to report transaction activity using different fiscal year start and end dates, as needed to meet statutory and organizational reporting requirements.

Multiple PayPal Accounts

NetSuite now allows you to create multiple PayPal accounts with the latest version 2012.You can use a separate PayPal account for each website you operate. If you use NetSuite OneWorld, you can use a separate PayPal account for each of your subsidiaries.

Statistical Account Feature

New for NetSuite release 2014.is the ability to create a statistical account, allowing you to track non-monetary amounts. Statistical account values can be used in reporting, and also to perform allocations based on weighted values.

Inline HTML Fields for on-page Instructions

Many companies have complex or specific requirements around processing orders, creating customers, or completing other daily business tasks in their NetSuite account. While external documentation serves as a useful reference, often times it is more helpful to have instructions visible to the user while they are in the process of completing the particular tasks.

Mass Deletion of Records

The best practice with NetSuite in regards to record deletion is generally to inactivate the record and avoid actual deletion. There are times when circumstances do justify the deletion of records. If there are more than several dozen records, it can be a time consuming and tedious series of clicks to delete manually. You can easily perform a mass delete by leveraging the mass update feature.

Merging or Deleting Duplicate Records in NetSuite

The integrity of your data is fundamental to users having the most current and correct information with which to work. Data can sometimes be entered that results in potential duplicate records in NetSuite. NetSuite provides the ability to detect and manage duplicate records.

Memorizing Transactions in NetSuite

Memorized transactions reduce data entry and serve as a useful reminder. When you memorize a transaction, you setup the transaction to recur over time. You have the option to define whether the transaction automatically posts or if you are reminded to post it. You can set the frequency of the posting/reminder and the number of times.

NetSuite StickyNotes SuiteApp

The StickyNotes SuiteApp lets you create and track notes on record pages. This feature fosters improved collaboration in team environments by enabling shared notes and responses. Notes can be made public to anyone with access to the record page, can be shared with only specific people or can be private for personal use. When dealing with multiple notes at a time, you can manage them on a board where you can sort, filter, archive, delete, reply or search while alternating between grid and sort views.

NetSuite Custom Fields on Transactions

Many customers create custom fields for transactions to track and store custom information, validate user processes, or alert users to special transaction requirements. Generally these fields are placed in the main “header” section of the form, or on one of the subtabs. One problem with these custom fields, however, is ensuring users notice them and provide a value when needed, as not every field can be made mandatory depending on business requirements.

Creating Custom Printed PDF Layouts

NetSuite provides a default “layout” for all transaction types which organizes the content (ie: address, order details, logo, items) into the various elements on the page. This allows users to begin using the system right out of the box without customization. Some customers, however, require special or differently organized information be displayed on their Invoices, Receipts, or other transaction forms- both internal and customer facing. NetSuite provides an easy-to-use interface for customizing transaction layouts, allowing users to tailor the look and feel of their printed forms to meet each business’ unique requirements.

NetSuite 2009.Mass Update Enhancements

Last month Explore provided a tip on NetSuite’s 2009.Global Search Enhancements. This month we would like to show you how NetSuite has enhanced the Mass Update functionality to make it even more powerful.

NetSuite 2009.Global Search Enhancements

Have you ever wanted to customize the result columns displayed for a particular record type for the Global Search Results? With NetSuite v.2009.1, you can now customize the global search results on a per record type basis.

Lists Preference Settings

You may have noticed in NetSuite, that in some cases you will find a field based on a list of values that gives you a convenient dropdown list, and in other places you only get a popup window. Take a look at the two pictures below of the same sales order form. In the first shot, a little button is shown, and in the second shot of the same field, the dropdown option is gone. What controls this change in behavior?

CSV Import Improvements for Mac

With the upgrade to version 2007.1, NetSuite has made it easier to import CSV documents from your Mac. NetSuite’s CSV Import Assistant has been improved to include a new character encoding option for MacRoman to support Mac Excel CSV format. This makes uploading CSV files by Mac users an easier process.

NetSuite Global Search Auto Suggest

With the new Global Search Auto Suggest feature available from Version 2007.0, searching has never been faster. When you enable this feature, you can scroll through a list box of suggested matches as you type into the Global Search field. You can quickly select one of the suggested matches by using the mouse, or the up and down arrows, and select from a list using the mouse, Enter, or Tab.

Assigning Preferred Vendors in NetSuite

You can assign a preferred vendor for items for purchase or resale. This can make things easier in that when you create a new purchase order, the preferred vendor of the first item will be selected. In addition, if you drop ship an item, NetSuite will automatically use the preferred vendor.

Many of Explore Consulting’s customers have been looking for a way to streamline their returns management process while improving customer service.

Component Where Used Inquiry

A new feature as of the 2013.release is the component where-used inquiry. A component is any item (Inventory, Non-Inventory, Service, etc) that is a portion/part of an assembly or consumed during the process of building that assembly. All components that belong to an assembly are listed in a Bill of Materials (BOM) report. However, in order to report the other way and see all of the assemblies that a specific component is a part of, you must run a where-used inquiry report.

Intelligent Order Allocation

Some companies have a select group of customers who comprise a significant portion of their sales and warrant a certain level of VIP treatment. With the 2013.release, it’s easier to maintain good customer relationships with your most important customers by ensuring timely fulfillment of their orders. Rather than having to follow a first-come, first-served rule, items can now be shipped based on commitment priority designated by you. This new option will allow you to assign priority numbers per customer, and then the system will calculate expected ship dates based on inventory item availability and priority standing.

Work Center Calendars

Work Centers can help manage resources by grouping them together and applying that group to a specific step in a manufacturing process. Works Centers are static NetSuite groups which are designated as manufacturing work centers. A newer feature in NetSuite allows you to further refine and manage work centers by being able to apply a work calendar to each work center. This can help improve production resource planning.

New Inventory Allocation Features

Reaching the optimal inventory levels to quickly service customer demand while not tying up valuable financial assets can be difficult, even when using NetSuite’s demand and supply planning features. Many companies will encounter situations where their inventory levels aren’t sufficient to immediately satisfy customer demand and then want to prioritize which customers are serviced first. Building on the customer priority and inventory commitment features of past releases, the last releases (2017.and 2016.2) bring greater flexibility and functionality to inventory commitment on orders (Sales orders, work orders, and transfer orders). These features enable you to direct limited inventory stores exactly where you want.

Campaign Subscription Categories in NetSuite

With the Campaign Subscription Categories feature available from Version 2007.0, customers and others with whom you communicate via bulk email, can choose which types of campaign communication they want to receive. When you turn on this feature, you can create your own campaign subscription categories in addition to the following default subscription categories – Billing Communication, Marketing, Newsletters, Product Updates, and Surveys.

NetSuite Relationships as Individuals or Companies

When you create a customer, partner, vendor or other name record, choose whether this record is for a company or an individual in the Type field. Your selection determines which information is recorded on this page.

Associating Promotion Codes to Items

The functionality to associate promotion codes directly to an item or group of items has been released in NetSuite Version 1This makes it possible to create promotion codes that will deduct a flat rate or percentage off only the items specified. There is also an option to ‘Exclude Items’ for scenarios where a promotion code will be associated to all items except the specifed items.

CRMSDK Conversion

NetSuite is retiring commonly used mechanisms for sending emails and other communications; CRMSDK Templates and the SuiteScript function nlapiMergeRecord. Starting with NetSuite 2015.1, which is rolling out in a few weeks, you will not be able to edit any CRMSDK email templates.

Real-time Shipping Integration

Real-time Shipping Integration – When a real-time shipping integration (such as FedEx or UPS) is leveraged in NetSuite, we can accomplish this functionality by including a dynamic URL link in our shipping confirmation email.

Custom KPI

NetSuite’s Key Performance Indicators portlet is a terrific tool for staying on top of your critical business metrics. Using real-time data, the Key Performance Indicator allows users to display metrics on individual aspects of your business, compare those metrics over time, and flag those values that are outside of the norm. Using the Key Performance Indicators portlet, you can filter out the “noise” of the details, and gain a relevant, summarized view of only those key business metrics you need to help drive important business decisions.

Creating Custom KPI Scorecards

NetSuite allows the creation of KPI (Key Performance Indicator) Scorecards which can be displayed in the KPI Scorecard dashboard portlet. You can create multiple KPI Scorecards for the various roles you have defined in your organization. Custom KPI Scorecards allow users to quickly compare multiple, complex KPI’s across multiple date ranges or accounting periods.

Global Search Prefixes

NetSuite’s Global Search is one of the most powerful tools in the system. This single field, which displays on all pages in NetSuite, provides quick access to almost every record, page, report, and search in the system. There are several tricks that are helpful to know about the NetSuite Global Search that can make everyday use of NetSuite much easier.

KPI Scorecards Track and Compare Metrics all Year

The KPI Scorecards feature allows you to add a portlet to your dashboard that shows the results of multiple KPIs (Key Performance Indicators) for multiple date or period ranges within a single portlet. The scorecard-like functionality also allows you to compare one KPI to another within the same portlet. For example, a sales manager can track the sales of multiple sales team simultaneously. In our example, we are providing a KPI displaying Revenue Target Metrics for members of the Board of Directors.

NetSuite Multi-Website Capabilities

One of the most significant and robust of these features now offered is multiple website publishing. Created from a single NetSuite account, each site can have its own unique domain and branding, along with separate Shopping Cart and My Account areas. In addition, each site will include its own individual Web Site Set Up, allowing for every website to have its own look and feel, including different layouts and templates.

Gift Certificates

Did you know with the new Gift Certificates feature in Version 11.0, you can create items that allow customers to purchase store credit to send as a gift? The recipient can use the gift certificate code when placing an order through the Web store or with a sales representative. Gift certificates can be applied toward the total amount of an order and are not limited by item. If the total amount of the gift certificate is not applied with the first purchase, the amount remaining is displayed with order confirmation, and the certificate code can be used again. Recipients of gift certificates receive an email with a link to your store and a code to apply the gift certificate amount when they place an order. The gift certificate code is entered in the Gift Certificate field on transactions and in the Web store.

How to Export NetSuite 30Redirects

This tool allows us to export all of our client’s redirects, whether they number in the hundreds, thousands, or millions. It is Python based and runs locally. The scraper logs into your NetSuite account, answers the appropriate security questions, navigates to your redirect URL, counts the number of pages that are needed to scrape, and processes them page by page. The resulting output is a.csv file.

Sole proprietor.

A sole proprietor is someone who owns an unincorporated business by himself or herself. You are also a sole proprietor for income tax purposes if you are an individual and the sole member of a domestic limited liability company (LLC) unless you elect to have the LLC treated as a corporation.

Trade or business.

A trade or business is generally an activity carried on to make a profit. The facts and circumstances of each case determine whether or not an activity is a trade or business. You do not need to actually make a profit to be in a trade or business as long as you have a profit motive. You do need to make ongoing efforts to further the interests of your business.

You do not have to carry on regular full-time business activities to be self-employed. Having a part-time business in addition to your regular job or business may be self-employment.

Electronic and manual record keeping

While some business owners prefer manual record keeping systems, most businesses use an electronic record keeping system – making it easier to capture information, generate reports and meet tax and legal reporting requirements.

There are a number of issues you should consider when setting up an electronic or manual record keeping system, as each has certain advantages and limitations.

Electronic backup

Set up a secure electronic backup system to ensure records are safely stored and regularly backed up. Daily backups are recommended, particularly for important records. Make sure the backup copies are stored in a separate location to your business in case of fire, theft or a natural disaster.

For small businesses, the cheapest backup options are CDs and memory sticks. If your business has large amounts of data, external hard drives are a popular backup option.

Cloud backup

Cloud computing provides a way for your business to manage your computing resources and records online. The term has evolved over recent years, and can be used to describe the use of a third party for your storage and computing needs.

Cloud backup services are becoming more popular and can be automated for your convenience, but you should make sure the method you choose protects the privacy and security of your business and customers.

Keep Your Accounting Firm Organized

Get the big-picture view of where all projects stand across departments, clients or campaigns. Great for status review meetings, the project dashboard helps get everyone on the same page. This summary view complements the tactical to-do lists that keep the team focused on getting work done.

Easy and cheap in simple situations

Does not scale well as business volume and complexity increases.

Most small business accounting software is quite cheap.

Cloud services and other subscription plans lock you in to a stream of payments. Switching between programs (or services) takes effort.

An accountant can always read paper records

Fees likely to be higher, as it is usually easier for an accountant to work with electronic records

If used appropriately you can get more advice and less donkeywork from your accountant for the same price. Cloud and hybrid cloud systems can give your accountant “live” access to your records

May increase fees if used inappropriately, resulting in more work for the accountant in unscrambling your mess. There is a risk that an accountant might usher you towards a package that suits their business rather than yours

MoneyWorks Express

Small coffee shop. All customers pay by cash or card, no need to track individual customers. Most suppliers offer terms, some items bought for cash from supermarket. No need for inventory. Enough staff (several part-timers, each working one or two shifts a week) to justify computerised payroll. Owner uses a bookkeeper but wants to keep a close eye on the figures.

Cloud or cloud-enabled middle-range small business accounting system with payroll.

Get good advice

Debra Anderson warns about bookkeepers and accountants pushing you into using a particular piece of software that might not necessarily be the best choice for your situation. While it may be that they have expertise with that product, there also may be commercial considerations. Xero, for example, pays accountants a commission on the subscriptions paid by their clients, and provides them with free practice management software if they have enough subscribers. “The accounting software industry has always been about matching software with the needs of the accountant instead of matching it with the needs of client, and that needs to change,” she says.

Pam Madytianos agrees: “Xero is an innovative accounting product that suits many small businesses. But we have seen situations where Xero has been recommended when it hasn’t necessarily been the best choice for that particular business. Accountants and bookkeepers have an incentive to recommend the software, as the more clients an accountant or bookkeeper has using Xero, the bigger their commission and the more prominence they receive on the Xero website.”

While Anderson receives commissions from MYOB (but no free practice software), she says she doesn’t try to convert all potential clients: “If their needs go beyond tax returns or what MYOB can offer, I refer them to another bookkeeper or an accountant who can help with the product they are using.” And we stress that no doubt there are Xero specialists who take the same helpful approach.

Kelvin Deer also notes the tendency for bookkeepers to be aligned with one of the major software companies, but says the emergence of cloud-based systems means a growing number of bookkeepers are looking at a variety of software options in order to meet the needs of different types of client.

He also says that as bookkeepers are in frequent contact with their clients (perhaps on a monthly basis for data entry, or a weekly basis for payroll) they are starting to assist small business with regular reporting such as cash flow and quarterly analysis. In that situation, a bookkeeper that already has some experience in the client’s specific industry may be a better option than a generalist.

IRAS Accounting Software Register

To help you meet your tax obligations, the IRAS’ Accounting Software Register lists the accounting software that are able to meet IRAS’ technical requirements. The owners of the software listed below have provided written declaration to IRAS that their software is compliant with the technical requirements set out in the e-Tax Guide:

Subsidy for Purchasing Software on the Register

With effect from Apr 2015, Infocomm Development Authority of Singapore (“IDA”) iSPRINT scheme will no longer support accounting software solutions. 

You may apply for other schemes such as IRAS’ Productivity and Innovation Credit (“PIC”) if you meet the qualifying conditions.

 

 

 

 

How to save up to 86%? Here is little trick.

You must visit the page of sales. Here is the link. If you don’t care about which brand is better, then you can choose the Accounting Forms by the price and buy from the one who will offer the greatest discount.

 

 

Final Word

First of all thanks for reading my article to the end! I hope you find my reviews listed here useful and that it allows you to make a proper comparison of what is best to fit your needs and budget. Don’t be afraid to try more than one product if your first pick doesn’t do the trick.

Most important, have fun and choose your Accounting Forms wisely! Good luck!

So, TOP3 of Accounting Forms

 

 

Questions? Leave a comment below!

Chatting about Accounting Forms is my passion! Leave me a question in the comments, I answer each and every one and would love to get to know you better!



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