Accounting Software for your Embroidery Business

Hello all!
I am still working on my plan for starting up my own embroidery
business. One thing I forgot about is the accounting software to use
to track the mega bucks I'll make :)
Is anyone using a product for tracking $$$? If so, could you let me
know pros/cons of the software you are using?
I need software that will take care of:
-Payroll (I plan to pay myself and keep it separate)
-Cost of Materials and Prozac :)
-Keeping track of who owes me how much and who I pay (Accounts
-Invoice capability
-Statement capability and ability to customize (I want the PO number
to show up on the statement listing the invoices, a couple of
potential customers require this)
-Track of sales tax
-Track of business expenses (maybe I can go to an expo...???)
-Something that will make tax time easy
I've looked at Microsoft Small Business, Simply Accounting, and
Quickbooks (expensive!) but wondering if any of you folks use these or
another product.
Any opinions, suggestions, and/or comments greatly appreciated!
Thanks in advance, and have a great weekend!
Reply to
Ben Ficus
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You can look into using Peach Tree accounting. It is a very simple program and very user friendly. I used it for a daycare. I did payroll, taxes and maintained accounts for 85 families. HTH Sassy
Reply to
Sandy in Wisconsin
Hi Ben. Congrats on your new venture.
I have to say that after pulling my hair out over accounting software, I have gone back to the good old manual method! Nothing can beat the clarity of a good old pencil and ledger book. When you make accounting mistakes on the computer it is SO HARD to find the source. You can spend hours going blind in front of your monitor, trying to find this invisble error. With manual accounting, everything is before your very eyes! In the process of assisting some small businesses with straightening out their books or doing their income tax, I have found that entrepreneurs who started out using computer accounting software had much less understanding of the actual concepts of what they were doing. I learned all my business accounting from an expert who wholeheartedly believed in manual accounting being the best approach, especially if you are audited in the future.
I use a separate software package for my invoicing and client database, which also produces my shipping labels (I do most of my business online).
If you really want accounting software, I would suggest downloading trial versions of a few different softwares before making your decision. Most of the makers of the software packages you listed have 30-day trial versions. It's best to see what you're most comfortable with before you shell out big bucks.
I hope my tidbits of advice are helpful. Peggy
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I'd recommend Quickbooks Pro. It will do everything you need it to do and then some. IMHO one of its main advantages is all of the CPA's and book keepers use it for their small clients. If you ever need help with your books there are a lot of accountants out there that use it.
Unless you have an accounting back ground I would suggest a CPA help you setup your chart of accounts. Once that is done it is pretty easy to keep up with accounts payable/recievable, invoicing, depreciation, etc and so on. And when tax time comes you can import your data right into most popular tax packages.
Good Luck! Dean
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I use QuickBooks Pro Manufacturing Edition. One advantage I have, is that I have been a beta tester for Intuit products since about 1997. I test the software for a couple months, and then they send me the final version. I had been using QuickBooks Pro, which was seriously lacking in the inventory capabilities. The manufacturing version is better, but not as good as a stand alone database. Of course then you have to get the two to talk together.... Quickbooks will talk to Word and Excel though.
The biggest trouble with any sort of accounting software is actually sitting down and using it. If you don't keep it up to date, it is pretty much useless.
I also agree with the poster that advised getting professional help to set up your software, what ever you may choose. The best choice would be the accountant (if any) that will handle your taxes or reports. That way, he knows what you got, and you send him files he doesn't have to ask questions about at tax time.
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