Accounting software for small (mum and dad) company

Any recommendations for low cost accounting software suitable for the following?

  • runs on Windows computers (not cloud)
  • suitable for Australian companies
  • low upfront cost and low or nil ongoing costs
  • calculates figures for BAS and tax returns
  • calculates PAYG for salary payments and directors' fees for two people (both owner/director/employee of the business)
  • can import bank statements (or possibly link directly)
  • can keep up to date with changes in Australian tax (e.g. annual PAYG rates)
  • ideally, can export data or reports for accountant

The software only needs to handle a small number of monthly transactions. It does NOT need to be able to prepare invoices or quotes, create budgets, or monitor inventory.

Comments

  • It seems that you are after a product that does the equivalent of MYOB or Quicken, but without the cost of MYOB or Quicken. Unfortunately there aren't really any products that have all the functionality you are after for no cost.

    Perhaps talk to your accountant about BankLink. It may have a solution that works for you.

  • If it's only a small number of transactions, I would create a cashbook in a spreadsheet. Pretty much everything else can feed off that. You would of course have to maintain tax rates yourself and set up the other tabs to pull out relevant information for BAS and tax returns.

    Dead easy if you're familiar with spreadsheets and Open Office calc is free.

    I must admit I'm no expert on accounting software, but bear in mind they have their own learning curve and suffer from garbage in, garbage out if you don't fully understand the software. MYOB I think is the most popular.

  • +1

    MYOB seems to do all your requriments, except it's cloud.

  • I've been looking for a product that would simplify my mass of spreadsheets.

    MYOB and Quicken are pricey, and have a steepish learning curve. Additional costs for upgrades.
    The cloud versions have advantages, lowish monthly fees, ability to access from other computers.
    However not comfortable of having my data "locked up" by the provider. Rather pay a one of fee and have control on MY computer.

    The best I found was Cashflow Manager

    The previous versions are available at Estore.

    I would be interested in what you think about it, as I am still thinking about it, and which version to buy.

  • I have had a great experience with B-Free
    http://www.b-free.com.au/bfree/index.aspx

  • Hi ItsNotMe, how did you go with this? I am looking for a similar thing for hubby. He is starting a small venture….

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