View Full Version : Accounting Software for End-of-Year?

15-12-2005, 10:53 AM
I use Cashbook Complete as an accounting package for my VERY small business. This easily handles all my accounting, including 'the fastest GST return in the west' - using it for GST returns saves me $900 a year in not having my accountant do it, and takes less than a minute per return (True!).
I am now thinking that doing end-of-year processing and tax returns myself might save me the $1400-1600 for the accountant's end-of-year processing, and if the GST experience is anything to go by, I think this could well be possible.
What I need is some software to help the process - I would run the software in parallel with manual processing as an integrity check.
Does anyone have any suggestions? Much appreciated.

15-12-2005, 11:52 AM
MYOB - mind your own business

Miami Steve
15-12-2005, 12:14 PM
If you're running a Limited Liability Company, I think you'll find that the majority of that $1400-$1600 is for the legal requirements to produce Annual Accounts and for auditing purposes.

15-12-2005, 01:37 PM
Thanks for both of those suggestions.
Yes - it is a limited liability company (but my accountant told me costs wouldn't be much lower if I disbanded the company).
And I'll have another look at myob - I had thought it only did cashbooks
Thanks again

15-12-2005, 02:45 PM
I use Excel.
Each month I enter the months stuff. GST takes me a minute too.
End of year I just do the totals and fire it off to the accountant to do which costs a total of $140 per year.
Except when we swap services so it costs nothing.
Takes her about 1 hour max to do her bit - she said I could do it myself but nah, I hate accounting.

15-12-2005, 03:32 PM
Thanks - I suspect the end of year work probably is about $150 worth - guess I'll look over the IRD website to see if I can do it myself

15-12-2005, 05:47 PM
I have been comparing Cashbook Complete and MYOB BusinessBasics for my new business. I have to say that Cashbook Complete is far easier to use and requires far less learning for the same results. My accountant suggested a figure of $150 to $300 if I give him the info as I do now in my other business. I would think it is time for you to shop around for another accountant. One that doesn't have a fee that starts at $1000!

15-12-2005, 09:10 PM
Another vote for MYOB

15-12-2005, 09:21 PM
Thanks for all your help.
I think probably the company is doing much of the financial damage - (my first accountant thought it was a good idea) - so I might ditch that, no real advantage to me. And then see about streamlining my end of year stuff and doing it myself. I'll check out MYOB as well.