The software you choose for your bookkeeping should fit in with the way you want to do your books. I use the I'm No Accountant Workbook for Excel for my small businesses. Consider these features.
One of the more important things you can do for your business is to manage your own books. Look at each bill. Decide whether it should be paid. Write the checks by hand. Deposit your company receipts yourself. As your business grows larger, this will not be possible. But, if you don't control your company finances in the beginning, the company may not get much larger. The I'm No Accountant Workbook for Excel allows the information on expenses and deposits to be quickly and easily entered, and then changed if necessary.
Even though I manage my own books, I use an accountant for the taxes. If you only have salary and interest income, do your taxes yourself. But, tax laws regarding businesses are complicated and changing. You need the advise and, in case of an IRS audit, the support of a CPA. The I'm No Accountant Workbook for Excel generates a complete transaction journal, expense ledger and income ledger for the year. With a few explanations, this is about all your CPA should need.
If you pay salaries, you can get reports that show how much tax, FICA, etc. was withheld and how much salary was paid. This report can be used for preparation of the W-2 or 1099 forms that you must generate. Although the I'm No Accountant Workbook for Excel does not calculate the tax to be withheld, it is easy to enter and extract all the numbers.
A very time consuming part of bookkeeping was bank statement reconciliation. The I'm No Accountant Workbook for Excel now makes this very simple. If you forgot to enter a check, or input the wrong amount of a deposit, it is easy to remedy.
All information entered with the I'm No Accountant Workbook for Excel is stored in an Excel workbook. The transactions are sorted by date. The full power of Excel is available to use when you need to perform any function not provided by the I'm No Accountant Workbook for Excel. Information can be imported or exported between applications or users, conforming to your demands.
The I'm No Accountant Workbook for Excel provides easy data entry, automatic ledger posting, automated report generation, and full access to the data for a small business. I use this workbook for my accounting and it may also be appropriate for your small business, if you don't want to be an accountant either.