Book-keeping and accounting packages

[spazzz]

Tweet

I am in the process of forming a limited company and currently looking into "off the shelf" accounting / book-keeping packages such as Sage, Quickbook etc.

As my business model is relatively straightforward and soley based on affiliate marketing I am also considering creating my own simple spreadsheet system.

I should add that I haven't yet signed up with an accountant but will be doing so shortly - hence I've not spoken to any professional about this yet.

May I ask the advice of the experts and the experienced on this forum please - are there any "off the shelf" accounting packages specifically aimed at and designed for affiliate marketing, is there a preferred "mainstream" package that everyone tends to favour or do most of you simply do what I'm considering and create your own bespoke method on Excel or similar ?

Thanks in advance.

[thebusiness]

May I ask the advice of the experts and the experienced on this forum please - are there any "off the shelf" accounting packages specifically aimed at and designed for affiliate marketing, is there a preferred "mainstream" package that everyone tends to favour or do most of you simply do what I'm considering and create your own bespoke method on Excel or similar ?

A spreadsheet based system works ok for me - I haven't seen any affiliate specific programs tbh. Maybe you could adapt your own system and offer it to new affiliates.

As an aside, there are a few free accounting and book keeping packages available should anyone be interested:

GnuCash
MS Office Accounting Express
TasBooks (free version)
VT CashBook

Also, a couple of inexpensive solutions include:

Solar Accounts &
Kashflow

[Kyle]

Speak to your accountant, they might have a preference and/or they might be able to suggest the most suitable package given your business.

E.g. we deal with a lot of US companies and therefore need a package that can handle foreign currency and foreign currency balance accounts, but other than that our requirements are pretty simple. So MS Accounting was the best fit at the time because it allowed us to do this and cost only ~£100 whereas the Sage equivalent product, with foreign currency, would have set us back around a grand.

[Smartphone]

Have you considered a web accounting software package such as Clear Books?

[gadget]

We use TAS which I think may be a company owned by SAGE.

My wife does our books and she's a trained Accountant so if it's good enough for her .. it's good enough for me.

[Aspirin]

Been using Kashflow for a few years now, cant fault it for easiness, options and support.

[hrbs]

I am in the process of forming a limited company and currently looking into "off the shelf" accounting / book-keeping packages such as Sage, Quickbook etc.

Hi

We use online software Liberty Accounts, Kashflow, Freeagent and Winweb for our affiliate marketing clients (depending on their size) and configure the software specifically for them. Online software enables your accountant to work with you on a more efficient, cost-effective and pro-active basis.

Desktop software means you have to swap backups/accountant review copies, make sure you both have the same version of the software and use a PC. We are Quickbooks Professional Advisors and Microsoft Authorised Accountant Partners, but recommend online software for our affiliate marketing clients as it enables us to provide a high level of service, is cross-platform (useful for Mac and Linux using clients) and suits our clients lifestyles.

I wouldn't recommend using a spreadsheet if you are or going to be VAT registered due to the forthcoming requirements to file VAT returns online. However, if you wish to use a spreadsheet you will have to make sure it splits out UK income, EC and US income and also Adwords costs as the calculation for the VAT threshold is based on UK income and Adwords costs. Your limited company accounts will need to show the percentage of non UK income in its notes. EC income will need to be reported to HMRC from Jan 2010 for VAT registered affiliates.

If you are to be VAT registered, use a package that will enable you to file the return from within the software as this will save you time and money. The EC Sales list changes in January 2010 to include cross border services (ie commissions from EC networks), so choose software that will submit the EC Sales list from within. Check whether the package supports the VAT flat rate scheme if you will be going on the scheme. For example, MS Office Accounting doesn't.

If you haven't yet formed your company, read our free guides at tips.HRBS.biz before you do so, as they could save you money now and in the future.

Payroll:
As you will be a director, you will probably run a PAYE scheme and so choose software that will allow you to file the end of year returns from within it. HMRC provide basic software on their employer's CD which is free and will be sent to you when you register the payroll scheme.

Liberty Accounts has all the above facilities and if you want to give it a test run, go to http://freetrial.hrbsonline.com . We partner with Liberty and offer discounted licences to clients and non-clients if you wish to use it.

When you talk to accountants, ask them the following in amongst your own questions:

Q: Does my Adwords expenditure have any influence on whether I need to register for VAT?
A: Yes it does, as reverse charge expenditure is added onto your UK commissions when calculating your VATable supplies for registration purposes.
Q: What flat rate percentage would apply to my business if I went onto the flat rate scheme?
A: Currently 8.5% (till 31 December 2009) with 1% discount in first year of registration
Q: Which boxes on the VAT return do the Adwords figures go in?
A: Deemed VAT in boxes 1 & 4; net costs in boxes 6 & 7; nothing in boxes 2, 8 & 9
Q: Where do Amazon commissions go on the VAT return?
A: They don't go on the VAT return. As Amazon is based in Luxembourg, they are outside the scope of UK VAT

If their answers are different to the ones above, or they have to go and research before answering you, move on to a different accountant, as they clearly do not understand affiliate marketing.

Good luck with the business.

Keith
HRBS.biz 01226 379000

[spazzz]

Thank you all for your suggestions to date - I must confess I hadn't considered a web based package ... seems to make perfect sense - I will look into your recommendations.

:tup Thanks to all again - your advice is really appreciated.

[brenmcl]

Hello all,

I have noticed a few sign-ups from here to Clearbooks.co.uk as we (Fubra) are helping build the product and have invested in it. Haven't posted on here for a while but as affiliates ourselves there are going to be some interesting developments that I can't fully reveal yet but which will make an affiliates life a lot easier from an accounting perspective if you use Clearbooks. So whilst I would obviously recommend it as I have an interest in it I would say that if you are considering online accounting and a lot of your business comes from affiliation with the main networks and you are UK based then give Clearbooks a shot I don't think you will be disappointed as it develops even further.

Another thing that will be of interest to the more technical is the API with Clearbooks that lets you pipe sales directly into the system from ecommerce sites or if you have your own scripts set-up to monitor sales so you don't have to type them in. We are looking for case studies now of people who would use this so if you are interested PM me we are already using it and it is amazing for timesaving once set-up.

Clear Books API for Developers

Cheers,
Brendan