When I started CTR, my ad revenues were relatively small and the expenses easy to track on a spreadsheet. Over the last year however, the site has grown substantially and I needed to use bookkeeping software to keep track.
Over the years, I have used a number of accounting software packages, including retail programs such as QuickBooks and Simply Accounting
. It has been more than 8 years since I’d used retail bookkeeping programs so it was important to me to start the selection process by looking at my needs first.
Look At What You Need
In my case, I have no employees and payroll calculation is not an issue, but I do need to process US and Canadian dollars, use budgeting functions, download data into spreadsheets, and customize invoices. I also need to be able to manage GST and HST.
If your a novice and don’t know much about bookkeeping or accounting, QuickBooks is probably your best choice. It is simple to set up, relatively easy to use and you’ll get going pretty much right away.
One of the great benefits of QuickBooks is the support. If you need help setting up your software, they will help you over the phone for up to 60 days after you purchase the software!
Simply Accounting Pro
Simply Accounting Pro 2010 has all of the features of QuickBooks but without the free telephone set-up support. The program allows me to create customized reports and manage currencies. In addition, it has a budget and forecast feature that was not available from QuickBooks.
What Do I Recommend?
Both products are very similar in features. QuickBooks Canada is designed for the novice and if you don’t know anything about accounting, then QuickBooks Pro should be your choice. If you like ease of use and flexibility then Simply Accounting Pro 2010 is your best bet.
What Did I Choose?
I ended up purchasing Simply Accounting Pro because of the budgeting and forecasting features, ability to track cash flows (and prepares a cash flow sheet), and its audit trail capabilities. I also like the way the program handles foreign exchange transactions.