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post #1 of 16 (permalink) Old 09-23-04, 06:10 PM Thread Starter
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Small Business Account Keeping

Heya guys,

I just wanted to know, to those of you who are in small business (i.e: pizza shop, milk bar, etc) how you keep your books?

Do you use MYOB, do you manually record everything, etc?

I really don't know where to start with small business book keeping, but i do have a background in accounting/business, and am currently doing an accounting degree at monash. I know the theory behind everything, but when it comes to actually keeping records, i'd just like to hear from anyone who has experience with it, or sees how it is carried out..

Cheers guys,
Yagz

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post #2 of 16 (permalink) Old 09-23-04, 08:37 PM
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Re: Small Business Account Keeping

My mother's an accountant, and she uses MYOB

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post #3 of 16 (permalink) Old 09-23-04, 08:39 PM
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Re: Small Business Account Keeping

MYOB is very good, I have dealt with it a number of times.


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post #4 of 16 (permalink) Old 09-23-04, 08:43 PM
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Re: Small Business Account Keeping

I work for an accounting firm - we have so many versions of MYOB it's not funny. All the auditers have several different versions on their laptops for they're clients.
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post #5 of 16 (permalink) Old 09-23-04, 08:45 PM
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Re: Small Business Account Keeping

Ive had a bit to do with it... Very good program and seems to be fairly widely used too.

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post #6 of 16 (permalink) Old 09-23-04, 09:46 PM
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Re: Small Business Account Keeping

The most comonly used programs in this market segment are MYOB from Business Basics to Premier and Quick Books is the other alternative, they also have various versions from cut down to networked versions.


I would suggest that before purchasing either you go to a place like Harvey Norman of Office Works and try each out to see which you prefer.

MYOB is more rigid in structure and has defined periods and utilises account numbers for accounts.
Quick Books is less rigid, does not have defined periods as strictly as MYOB does and can be set to either use account numbers or descriptions.

Basically it is up to you which has the greatest benefits for the least restrictions. Most accounting practices should be able to cope with either so that shold not limit your choices.


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post #7 of 16 (permalink) Old 09-23-04, 09:46 PM
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Re: Small Business Account Keeping

We run our books (printing) on MYOB... gives us the control we need.

Debtor control, purchasing, reports and invoicing is simple enough that all can do it.


It will do the job.

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post #8 of 16 (permalink) Old 09-23-04, 10:07 PM
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Re: Small Business Account Keeping

We use programs like Great Plains and FRX to control out finances.

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post #9 of 16 (permalink) Old 09-23-04, 10:26 PM
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Re: Small Business Account Keeping

I think you will find MYOB is generally used more than any other program and most accounting offices should be familiar with the data input-output that goes with it thus making your financials easier when having them reviewed..

Best way to finds out what you like is by getting the trial versions of the various accounting programs out there and see what you like..

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post #10 of 16 (permalink) Old 09-23-04, 10:35 PM
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Re: Small Business Account Keeping

MYOB is really easy to use. They make us use it as part of our course at RMIT.

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