Invoicing from Pricing Software AND Accounting Software

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Bagpuss
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Invoicing from Pricing Software AND Accounting Software

Post by Bagpuss »

Hi,
I was going to post this in the Estlite section but I think it applies equally to any other pricing software you might use.
Since I started using Estllite I have always done the following;
- When customer comes in with work, I price the job, agree with the customer and then hand them an invoice from EstLite.
- When I have finished their framing I then type a briefer summary of the job into my Accounting software (Quickbooks) and hand this invoice to the customer when they come to collect.
- I then apply the payment to the job in Quickbooks.

I was wondering what other users do, essentially I'm doubling up by typing in a summary of the job into Quickbooks.
I'd be interested to know what others do, it might save me some paperwork. :clap:
Thanks guys and gals,
Adam/Bagpuss
My real name is Adam Laver aka "Adam The Picture Framer", just in case you were unsure ; )
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Re: Invoicing from Pricing Software AND Accounting Software

Post by Steve N »

I print 3 copies from Estlite, one for the customer, one stays with the work, one for the archives. I use the till function in Estlite to record any payments, I have departments set up, Custom Framing, Ready Mades, Web Sales etc, at the end of the day I fill out a spreadsheet, which have the same departments, the spreadsheet last for a week, so I fill it out each day, and it totals everything for the week. At the end of each week I enter all the week's totals for each department in my accounts program (Sage), I can then see how all the departments are performing.
I would only enter a invoice for a customer in the account program if it was a credit account customer, so I could send them a statement at the end of the month , but as I don't offer credit terms I don't need to do this :clap:

I think you might be doubling not only the paperwork but your time doing the accounts Adam :head:
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Re: Invoicing from Pricing Software AND Accounting Software

Post by misterdiy »

I don't use Estlite, but use my own Excel generated programme. This prints a job sheet and three invoices, one for the customer, one for the books and one when the customer comes to collect (and wants an invoice)

The pricing software logs all jobs on a database and also has a "master customer list" which records all details.

Accounting is also done through a different Excel spreadsheet and values plus VAt are manually inputted into the accounting programme.

The only time we duplicate is for commercial customers who want an itemised invoice with VAT detailed separately. So 90% of the jobs are just one click of the mouse for invoicing.
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Re: Invoicing from Pricing Software AND Accounting Software

Post by allyblue1 »

Sorry if this is nothing to do with this thread, just a wee question? I have been trading full time for 3 months now, I have pricing software and a I made an accounting document using Excel but it has come very apparent already that I need a professional accounting programme, any suggestions and advice please?
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Re: Invoicing from Pricing Software AND Accounting Software

Post by Steve N »

Well if you have an accountant ask them what they use, that way you will match up with them. I use Sage Accounts 2012, but if you go to their site you should find a free down load called SageInvoicing which is quite good.
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Re: Invoicing from Pricing Software AND Accounting Software

Post by Bagpuss »

allyblue1 wrote:Sorry if this is nothing to do with this thread, just a wee question? I have been trading full time for 3 months now, I have pricing software and a I made an accounting document using Excel but it has come very apparent already that I need a professional accounting programme, any suggestions and advice please?
You might want to take a look at entry level Quickbooks, an Accountant mate recommended it when I first started using it a few years ago, he said even a "numpty" like me could use it, he was right :rock:

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Re: Invoicing from Pricing Software AND Accounting Software

Post by allyblue1 »

I dont have an accountant as yet, I was advised that i dont need to submit anything to HM&RC till my second year trading? so not to rush into getting an accountant. Its on my things to list.

Thanks Adam and Steve for your comments and advice, I will be looking into my options, Away to Majorca in the morning for a week so accounts can wait till I get back. Hope to come back nice and fresh to get stuck in to and get my accounts in order . :D

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Re: Invoicing from Pricing Software AND Accounting Software

Post by Vix »

Have a look at Solar accounts. Very quick and simple to set up and use. You can update and get help online too! Much easier than quickbooks and Sage, both of which I've used over the years but never got on with. I personally wouldn't use anything else now.
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Re: Invoicing from Pricing Software AND Accounting Software

Post by IFGL »

Get a good accountant from the out set , yes it is expensive but they will advise you and set you on the right path.I made a big mistake and used a family freind and wasted thousands in tax I didn't need to pay.
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Re: Invoicing from Pricing Software AND Accounting Software

Post by Not your average framer »

I really don't like having to do accounts, but like everyone else, you don't get any choice about the matter. I'm quite good at maths, (I used to be a design engineer which means lots of maths), but I struggle to really get an understanding of what information I need to extract from my accounts and how to apply it in the enhancement and growth of my business. I find accounts somewhat abstract and difficult to process in my brain, so I need a little help with this!

As a result I bought an accountancy textbook from a local charity shop and started reading about management accountacy methods and in particular "key performance indicators". Key performance indicators are particular mathematical ratios, which we can all extract from our normal accounts information. Such indicators enable us to make comparisons of how our businesses perform, over time and against targets.

To enable me to use key performance indicators as part of my normal accounts process, I have created a spreadsheet using Excel. All columns are preconfigured to calculate totals, there are various check sums to pick up any errors and various key performance indicators, all of which are self calculating and using formulas in boxes.

As this recession has continued, I have needed to change my pricing levels and methods in response to various factors and this spreadsheet has given me the tools I need to understand, how my business is performing, what are the factors driving changes in the perfomance of my business, the measure of changes I need to make to overcome any negative developments and then evaluate the effectiveness of any changes I make in improving my business performance.

As a result, if like me, you need a bit more than just accounts to satisfy the normal official requirements, then I suggest that which ever accounts software you decide to use, it would be helpful to ask some questions about the data extraction, manipulating, and presenting capabilities of the software before making final decision and buying the software.
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Re: Invoicing from Pricing Software AND Accounting Software

Post by misterdiy »

It is true you don't need an accountant but they make life very much easier. Even when I was employed I used an Accountant for my self assessment and she got me money back every year, normally from HMRC cock ups. (Always in their favour)

You are right about not having to sort business accounts out until the second year of trading, but if you are a sole trader you will be submitting a return each year under selfassessment ..... which means you need to have done your accounts.

The advice to get an Accountant from the outset is good advice and also if they are a reputable company, tends to keep HMRC off your back from carrying out a "review" of your business and tax affairs. Accountants tend to have insurance for that as well which again is good value since an investigation by HMRC good set you back £1000's if they dig deep.
stcstc

Re: Invoicing from Pricing Software AND Accounting Software

Post by stcstc »

i dont use any accounting software, did try a few, but they are all written in double dutch

instead i have a great accountant, give him boxes of invoices and stuff and an excel spreadsheet. and everything else happens by magic
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Re: Invoicing from Pricing Software AND Accounting Software

Post by Not your average framer »

BTW, I still use an accountant to produce and submit my accounts using my spreadsheets and invoices etc. I definately don't know enough to even try doing accounts myself, but I do need to understand enough about how these thing work to manage the business.
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Re: Invoicing from Pricing Software AND Accounting Software

Post by allyblue1 »

Thats me just back from 7 lovely days in Majorca. Im now ready to get my accounts in order etc. I have taken all of your good advice and today I booked an appointment with an accountant, he went over a few things with me on the phone. He said the more I do with regard to good book keeping the cheaper it is or on the other hand I can give him or his company nearly everything to do with me just keeping basic records and they will take care of the rest.

I will see what advice he has when I meet with him on Friday reference the software etc.
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