bear wrote:
Hello Everyone. New to this great site.
Been looking at the accounting software advertised,
Does anyone use any of these and if so do you still need the services of an accountant or does this software do the job for you??
Any info will be apprechiated.
Thanks Kevin
I doubt if it's decisive one way or the other, but if you're an owner-driver like me with only one car I don't really think you need bother with fancy packages.
But if you do use an accountant make sure all your records are in good order or he/she will spend more time sorting out your mess than doing the proper accounts and the tax computation, which will obviously cost you more.
All you need are worksheets for each week/month showing your takings and expenses, eg fuel etc and these can be summarised by the month/year. And make sure you keep all the supporting receipts and that these are in the proper order and can be tied easily into your figures. For example, you should come up with a yearly fuel figure, and it should be obvious from the supporting records how this figure is derived, and it should also be easy to tie these figures back to fuel receipts.
Basically, the more time you spend on your books and records and keeping them in good order, the less your accountant will charge you.
As Pete says, a qualified accountant will look better as far as the Revenue are concenred, but keep away from the big names (eg KPMG, Ernst and Young etc) as they'll cost a bomb. The rule of thumb is, if you've heard of them, keep away from them
(Unless they're a local firm and you've heard of them that way).
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