OT: Anyone use accounting software and own their own biz?

[firsttimemommy]

My husband works for Fed Ex, but we are contractors (the Ground and Home Delivery divisions are owner-operated) so we are considered self-employed (so along with that comes estimated taxes, GL accounts, expenses, taxes, etc). He got his first route 7 years ago and it was always fairly simple - one truck, one set of expenses, no employees. Last year he got a 2nd route and an employee and it complicated things for my little cheesy manual accounting system I set up. But I have survived (barely) and managed to pay all taxes on time etc! LOL Now we are obtaining two more routes, opening a NEW business to handle it all (a way to circumvent the State Franchise Tax), DH is not going to drive anymore (just manage) so we will have 3 new employees. I KNOW my rickety little "I made it up" system is not going to cut it and will drive me insane if I dont get something more "accountable", streamlined, efficient, etc.

I actually have Peachtree Accounting 2005 (had it for about a year now) and have never fully set it up b/c it TOTALLY intimidates me every time I try to use it. It is not intuitive (at least for me) and our company is a little bit "odd" in that we dont have the "typical" expenses that most companies have (no inventory, etc)

Is there another program that is a lot easier or is it me? I want to throw the Peachtree in the trash but worry they are all this complicated! I hate having to look up every other word b/c I dont understand the accounting term!!

Thanks!!!
Ronda
Proud Mommy to 2 adorable munchkins - 1/03 and 4/04

"Before you criticize someone, walk a mile in their shoes........that way you are a mile away and you have their shoes."

[pritchettzoo]

We use Quicken, but we only have 2 employees and a CPA does our tax stuff.

Completely random--make sure you get workers' comp insurance with 3+ employees. Or at least in many states. Sorry for the un-asked-for commentary. :)

Anna
Mama to Gracie (Sept '03) and Eli (July '05)

[BillK]

I own my business and use Quickbooks Pro - but only for my Payroll accounting. My staff is still stuck in the dark ages and refuses to change from their old fashion checkbooks and ledgers despite my offers to get them set up with Quickbooks Pro.

That said - I like Quickbooks Pro - it's fairly simple, user friendly and easy to set up. However - they really tag you year after year with payroll tax tables update charges and every 4 or so years they "sunset" your version and you HAVE to go out and buy the upgrade. Other than that it works and does what it's supposed to.

[firsttimemommy]

Thanks Anna! I will look into the Workers Comp issue ;)

Thanks Bill! I know, I was worried about all the update costs. My DH is a HUGE penny pincher (thank goodness I do the personal bills or we'd be divorced by now for sure) and is totally anti "sourcing- out" in any way (i.e. update cost, payroll service) - he thinks I can handle it ("you dont have anything else going on") so it is very stressful for me...

We have a CPA that does our yearly taxes (income tax, franchise tax), but I do the quarterlys (941's, SUI's) and all basic accounting and payroll for the business. I just need a simple program as I dont' have the accounting background to understand 90% of the terms Peachtree is referring to. The Help section confuses me even more. It also doesnt help that I have 2 little ones interrupting me (and no relief) while I am trying to learn either! LOL I've been sitting here playing with Peachtree for 2 hours and feel like I've accomplished nothing. :(

I usually end up going back to my little cheezy method after trying to find another option b/c I am so frustrated. The worst part of it all is my little method is very vulneralble to errors or slip-ups, but at least I understand it all.

It's like I feel like an intelligent person until I try to use Peachtree! LOL

I will look into Quicken - maybe someone has experience with both and can tell me if it's worth trying it, or will I end up the same way - frustrated - with Quicken?

Thanks again!

Ronda
Proud Mommy to 2 adorable munchkins - 1/03 and 4/04

"Before you criticize someone, walk a mile in their shoes........that way you are a mile away and you have their shoes."

[BillK]

Well for the payroll - I'd suspect you'd love Quickbooks - it's very simple and - although I don't use the feature - it supposedly can figure out your 941's, SUI's and do W2's at the end of the year. I just print a monthly payroll summary - fax it to my accountant - and they fill out my 941, SUI stuff and I write out the checks. Probably could save money doing it myself - but since my account's always done them I just continue to let him.

From what little I've heard about Peachtree - Quickbooks is supposedly much friendlier and simpler to use - but not as feature packed.

Hope that helps.

[inmypjs]

I personally use Quicken and I like it a lot. I have also used QuickBooks and I find it to be a bit more intimidating. My advice would be to start with Quicken.

Ronda, I don't know if this would interest you or not, but my parents run a business that does exactly what you are talking about - they set up small businesses on accounting software, manage their books, handle payroll, etc. They do as much or as little as their clients want. They also handle taxes, as they also own an H&R Block franchise. They live in Iowa, but they do have clients outside of their town. Your profile says you are in Texas? That would definitely be the furthest away, but I know it is very doable. If you are interested in talking to them, email or PM me and I'll give you contact info. There isn't any charge to consult with them. If not, maybe you could find a business like theirs in your area.

Good luck!

Katie

[cbm]

I use Quickbooks Pro. I thought it was extremely easy to learn and the book that comes with it is easy to read. It didn't take me any time to familiarize myself with this program. As with any program there are some limitations, but for what you describe it should work just fine. I have used Quicken for personal use. Both programs are made by Intuit. There is a slight difference, but not by much.
I hope this helps.

Claudia

DS 12/18/04

[firsttimemommy]

Thanks Claudia! I will look into Quickbooks. Luckily I got Peachtree free, so if I never actually use it, I dont feel so bad! LOL (I had a coupon for a rebate for the full purchase price - I didn't steal it! LOL)

Thanks again Bill - just hearing that Quickbook is even a little easier than Peachtree is encouraging. I can't tell you how many terms I was looking up, trying to understand and then forgetting what it meant when I got back to the page where I was using the feature! ugh!


Ronda
Proud Mommy to 2 adorable munchkins - 1/03 and 4/04

"Before you criticize someone, walk a mile in their shoes........that way you are a mile away and you have their shoes."

[firsttimemommy]

Thanks Katie!

My biggest problem is my penny pinching hubby, but when I told him about your suggestion, even if it's just to consult and maybe have someone set it all up and train me so I could do it on my own easily, he was open to the idea. I'll let you know if I need ya! THANKS!

Ronda
Proud Mommy to 2 adorable munchkins - 1/03 and 4/04

"Before you criticize someone, walk a mile in their shoes........that way you are a mile away and you have their shoes."