Business Software Recommendations

[Tony Wells]

the idea of storing electronic copies of all documents is a good one. I'm not convinced that "As Seen On TV" scanner is as smart as they want you to think. I believe you manually have to enter a lot of the data to make it a searchable database, as they present. OCR software just isn't intelligent.

I have a system of sorts where I assign every job that comes in a number, and create a directory (folder) that will eventually contain every document associated with doing the job. That means a quote from the beginning, PO, a drawing, all MTR's, PO's for purchasing materials and at the end, a cost analysis for the job, sort of a P&L on a job by job basis. That helps me determine how well I did or didn't do on that job. I do not cost out every expense on a job basis, such as misc tooling. It's not practical in my case to buy a box of inserts and try to cost out how many edges or inserts I wore out, or how many times a drill was sharpened, etc.. Unless it is a special piece of tooling that had to be bought for a job, and I need to remember that next time the job comes around (if it does), it goes into General Tooling Costs.

Electronically, I can search the DB by date, Customer, PN, or PO. My system is more oriented towards the shop side of things than the accounting side.....a weakness that I should someday address. Quarterly, I still have to do some manual work of tracking Invoices and COGS, that sort of thing. Since I don't do work for the general public, I collect no sales tax....my customers are all resellers. I still file a zero taxable sales report, however. There is a fine for not filing at all, even if you collect nothing.


I'm getting sidetracked....sorry

 

[Ray C]

A great discussion... -not sidetracked at all.

I'm not even going to tell you how late I was up last night learning and playing with this QuickBooks. It can do a lot of stuff and I haven't scratched the tip of the iceberg -and it hasn't crashed the computer yet. Anyhow, it no-doubt uses a database at the backend and you can include any/all documents you want with a particular job and that's important for the sake of accountability and completeness.

As far as this LLC is concerned, I have no intention of letting things get out of control from the get-go. I may have forgot to mention that I setup a different LLC (aside from my previous PLC) just for the shop. If all goes well, the state will approve it on Jan 16 or 17. This is all being driven by a desire to do things right -for the sake of the two places that farm-out work to me.

Anyhow, I'm re-researching all the necessary steps in (properly) running a small business. I've seen first-hand a few people start a business and let it get out of control with lost receipts, incomplete paperwork at tax time etc.... It caught up with them and cost a pound of flesh to get it back under control.

Ray

the idea of storing electronic copies of all documents is a good one. I'm not convinced that "As Seen On TV" scanner is as smart as they want you to think. I believe you manually have to enter a lot of the data to make it a searchable database, as they present. OCR software just isn't intelligent.

I have a system of sorts where I assign every job that comes in a number, and create a directory (folder) that will eventually contain every document associated with doing the job. That means a quote from the beginning, PO, a drawing, all MTR's, PO's for purchasing materials and at the end, a cost analysis for the job, sort of a P&L on a job by job basis. That helps me determine how well I did or didn't do on that job. I do not cost out every expense on a job basis, such as misc tooling. It's not practical in my case to buy a box of inserts and try to cost out how many edges or inserts I wore out, or how many times a drill was sharpened, etc.. Unless it is a special piece of tooling that had to be bought for a job, and I need to remember that next time the job comes around (if it does), it goes into General Tooling Costs.

Electronically, I can search the DB by date, Customer, PN, or PO. My system is more oriented towards the shop side of things than the accounting side.....a weakness that I should someday address. Quarterly, I still have to do some manual work of tracking Invoices and COGS, that sort of thing. Since I don't do work for the general public, I collect no sales tax....my customers are all resellers. I still file a zero taxable sales report, however. There is a fine for not filing at all, even if you collect nothing.


I'm getting sidetracked....sorry

 

[xalky]

I'm incredibly undisciplined when it comes to keeping track of reciepts. I prefer to do what people actually hire me for. I agree with the previous comment about the software should serve you and not the other way around. For me the simplest easiest solution, because I'm simple and easy:biggrin:, is to just run everything through the checking account. I also have a few credit cards that are specifically for business use only, that also get paid through that account. My method is absolutely nothing like a searchable database, but it sure is simple. )

 

[xalky]

I do understand the need to be organized. In most areas of my life, I'm extremely organized, but in this area, that's the best I can do.:whiteflag: I have some sort of serious mental aversion to paperwork, I might need to go see a shrink about it.:lmao:

Marcel

 

[Terrywerm]

I do understand the need to be organized. In most areas of my life, I'm extremely organized, but in this area, that's the best I can do.:whiteflag: I have some sort of serious mental aversion to paperwork, I might need to go see a shrink about it.:lmao:

Marcel

So Marcel, are you saying that all we need to do to send over the edge is mail you some miscellaneous receipts??? :rofl:

 

[xalky]

So Marcel, are you saying that all we need to do to send over the edge is mail you some miscellaneous receipts??? :rofl:

YES!! But, if i can't figure out what they're for within about 30 seconds or so, I file them in the circular bin aka(garbage) , that's my favorite file! It's also my way to cope.

Also, anything to do with insurance, taxes or of an otherwise bureaucratic bullshot nature will also put me into a panic attackanic:!:rofl: Do you think I need professional help?

I've gotten my revenge on insurance though. Most of my work comes from homeowner insurance claims. :lmao: If could only figure out how to get payback for all the governmental crap, I'd be a happy camper.)

 

[Ray C]

Well, the fun just began... Now I'm looking at the State, County and Local licenses and Taxes. -So much circular non-sense... After about 4-5 passes though it all, it's beginning to distil down to just a few things but the information is hard to sort out. -Taking a break on that aspect now and am going to focus on a different topic for a while.

 

[AlbertNakaji]

I also do what Xalky said:

I have a checking account for my business with a debit card. Everything that's business related just runs thru that account. At the end of the year I go thru my statements with colored Highlighters, a different categorie for each color. I bring my accountant the category totals and he works his tax magic after that.

, except that I have a credit instead of debit card.

I used to do my own taxes, but when I got married and my wife and I filed jointly, we used her accountant and I was amazed at how much I'd been losing in taxes over the years. Find a good accountant (expensive doesn't necessarily mean good), and for small accounts the cost isn't very high. The savings in taxes, however, can be substantial.

 

[Kennyd]

Subscribed with great interest Ray,

I too am thinking about QB as my small LLC continues to grow, last year (12) I just had a basic list on a ledger, but now I am trying to get 13 done and seriously considering QB. What version did you get?

On the whole "neat" scanner thing that's advertised on TV, maybe I just don't get it, but it's not like your going to actually throw away originals of important documents, I don't see the piles going away...while it might be nice for business cards or non critical paperwork, I just don't see the point.

As we get more digital, please remember a backup! I use Carbonite myself, the piece of mind it provides is worth every penny to me. I tried the whole external drive thing, but was never disciplined enough to do regular backups...I always told myself "I'll do it tomorrow" or some other such excuse. Having the data (and pictures) off site incase the unthinkable happens is also reassuring.

 

[Ray C]

Kenny...

QuickBooks Desktop Pro 2014 at a whopping cost of $199.00. http://quickbooks.intuit.com/pro/ This link has a free trial button at the top and the software also has a 60 day money back guarantee. Don't like it? Get your money back. -Fair enough... I bought it.

Absolutely... Off-site backups are the way to go. I have GoDaddy Domain service as well as 100GB of offline storage ($150 for 5 year plan i.e. about $30/year). The backup software works very well but is only for backing up user data. It cannot create a full OS recovery image. It takes 20-40 minutes every night roughly. Been using it for a couple years now. About every 6 months, I do a backup to an external drive and throw it in the gun safe. -Paranoia? In a healthy way...

I'll be able to use QBs for sure. There's only a few things I need to get used to and it's all personal nits and preferences. In all cases, I've been able to find the answers in the tutorials, online help or, the complete 800 page PDF book.

Right now, I'm in the process of refreshing my knowledge of LLC finance, taxes and permits. I've had a PLC for years but that's a similar yet, whole different beast -especially in the way of capital equipment, inventory and a hugely expanded concept of lists of accounts I've managed budgets for years -but at a different level where I had no concerns of accounts payable/receivable... A couple years ago, I started the LLC fire-drill but, got sidetracked. Things are different this time around.

Ray

Subscribed with great interest Ray,

I too am thinking about QB as my small LLC continues to grow, last year (12) I just had a basic list on a ledger, but now I am trying to get 13 done and seriously considering QB. What version did you get?

On the whole "neat" scanner thing that's advertised on TV, maybe I just don't get it, but it's not like your going to actually throw away originals of important documents, I don't see the piles going away...while it might be nice for business cards or non critical paperwork, I just don't see the point.

As we get more digital, please remember a backup! I use Carbonite myself, the piece of mind it provides is worth every penny to me. I tried the whole external drive thing, but was never disciplined enough to do regular backups...I always told myself "I'll do it tomorrow" or some other such excuse. Having the data (and pictures) off site incase the unthinkable happens is also reassuring.