# Setting up accounting system for private limited company



## fredfelt (May 8, 2012)

I'm taking on a couple of contracts from where I used to work.  Until now I've always been on PAYE.  I'll looking how to do the admin / accounting and tax stuff for the private limited company where I am the only employee.

Can anyone recommend an accounting package to keep track of it?  Is there an app which plugs into it where I can take pictures of receipts, invoices, purchase orders and formal documents and it files and help organise stuff, sort out tax returns, PAYE and VAT.

Maybe I should add that I found the 'VAT confusion for lone worker' and 'Anyone set up there own PAYE scheme' had some really useful information, ta.  Hopefully you'll be able to give me some guidance here.


----------



## Boudicca (May 9, 2012)

I've tried Sage Accounting, used MYOB for a while, bought Accountz but couldn't get along with it.  Quicken I don't know much about.

I keep going back to Microsoft Money - intended initially for tracking personal finance, but then expanded to include VAT (and then took it away again).  It was discontinued in 2009 but there is a sunset version available as a free download (which Editor put me onto in another thread, thanks Ed!).

It's more book-keeping rather than full on accounting, but all I want to do is track money in and money out - I leave accruals and depreciation and the like to my accountant.  And I get a good rate from him as I present the figures to him in good order.

When I was working freelance as a consultant (my current business has a lot more tracking to do) I just used to keep track on a spreadsheet.

Why do you want to take pictures of receipts?  If HMRC come calling, they will want to see originals, so best thing to do is input the numbers into your software then file the paperwork in date order.


----------



## Pingu (May 10, 2012)

quickbooks is probably the one I would use these days in your position. yes you can use a spreadsheet but its nice to have it all done properly. i used to say the MS accounting package - which was actually really good for this sort of thing but sadly they no longer do it.

Sage, whilst the standard, is probably overkill. even the very basic version is a pain in the arse to get to grips with if you dont know what you are doing.

edit:

you can still download the MS prog though for free here: download.microsoft.com/download/F/F/0/FF07761D-7859-4002-913F-1B25CB481CF7/MOA2009GBExp.exe

and the service pack here:

microsoft.com/downloads/details.aspx?familyid=4E8AA62E-07CA-41FC-B8E4-3FB2D338775B&displaylang=en

IIRC there were two diff versions but not sure which one that is. THE GB in the path would suggect its the UK one but..


----------



## fredfelt (May 10, 2012)

Thanks Boudicca and Pingu.  I've had a look at Quickbooks and it seems to be what I was looking for.

I'll have a little think to see if can justify £20 or £30 a month on Quickbooks when MS Money does a similar thing for free.


----------



## Pingu (May 10, 2012)

main diff is quickbooks is supported and the ms one isnt.


----------



## Hollis (May 10, 2012)

fredfelt said:


> Thanks Boudicca and Pingu. I've had a look at Quickbooks and it seems to be what I was looking for.
> 
> I'll have a little think to see if can justify £20 or £30 a month on Quickbooks when MS Money does a similar thing for free.


 
You'd probably only need the £9 version.  Try the online version free for a month.. err, as far as accountancy porn goes, quickbooks does it for me.


----------

