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Product Review DIY Accounting Limited Company Accounting Software

DIY Accounting produce Accounting Softwareassets are entered. Deprecistion perecentages
for UK limited liability companies whichare already set in the fixed asset schedule
consists of teamplates on excel spreadsheets,to calculate depreciation and can be changed
suitable for any small limited company aimedfor  individual  requirements.
at automating monthly profit and loss account
and a set of final company accounts withThe limited company corporation tax liability
balance  sheet  ready  for  publication.is also calculated automatically in such a
way that all the calculations; additions and
As the whole small business accountingdeductions are both automated and visible.
software for a limited liability company isCapital allowances on both existing and new
written on excel spreadsheets all bookkeepingassets being shown on the corporation tax
transactions are visible. The excelcalculation.
spreadsheets have 12 monthly sheets in each
work book. Prime data entry excelAccountancy  Knowledge  Required
spreadsheets being provided for sales,
purchases, cash, bank, savings account andThe limited liability company accounting
credit card account. Financial transactionssoftware is based upon single entry of
such as sales or expenses are then simplytransactions requiring no accounting or
listed on the appropriate months' sheet. Andbookkeeping knowledge. All the accounting
changes or errors can easily be rectified byknowledge required to perform the double
simply deleting errorsa or entering newentry of transactions which is a required
information. This simple listing process is afeature to produce a balance sheet has been
huge advantage to non accountants as noautomated. The company accounts package has a
previous bookkeeping or accountancy softwarefeature so that the previous years' numbers
knowledge  is  required.may be entered with a list of the opening
customers and suppliers, debtors and
Bank spreadsheets can be entered by listingcreditors. A minimal level of accounting
the items that appear on the bank statementknowledge is required to correctly list the
and include a box to enter the statementclosing debtors and creditors and check the
balance each month. The formulae within thetotals of those lists agrees with the
excel spreadsheet then automatically checksautomated balances shown on the company
that the entries made agree with theaccounts  balance  sheet
statement balance producing effective bank
reconciliation. A good feature that ensuresVery  Low  Priced
entries are recorded accurately in the
companies  accounts.At £15 the accounting software can save
many businesses exempt from a full audit the
The simple bookkeeping entries that have beenneed to employ an accountant potentially
made to the sales,purchases and the banksaving hundreds of pounds in professional
statement is automatically transferred to thefees. Hundreds of small limited companies
financial accounting file. In this file is awith up to 20 employees also purchase the DIY
trial balance which actually automates allAccounting Payroll Software which is sold
the double entry accounting transactions. Noseparately from £14.99 and fully
entries are required removing the need forintegrates into the Financial Accounting
users to have accounting experience. TheSoftware.
Trial Balance is purely an accounting
solution, visible and contains an audit checkOther  Features
to again ensure the company accounts are
accurate with no entries are required. TheThe product has a stock control feature to
absence of required entries in the area ofmonitor any stock losses. The limited company
accountancy makes the product an idealaccounting software contains a wages
company accounts package for companiesinterface that fully integrates the DIY
requiring a small business accountingAccounting Payroll Software when those files
software  package.are saved into the same folder as the
accounting software files. Being written on
Within the financial accounting software fileexcel spreadsheets all transactions are
is an automated monthly profit and lossvisible and capable of being changed by for
account to enable limited companies to trackexample overwriting any errors as opposed to
their financial performance and verya database system that requires new
important, the package also produces atransactions to be entered to reverse
balanced profit and loss account and Balanceprevious entries. The sales and purchase
Sheet in the correct format for submission ofspreadsheets include columns for entering CIS
the final accounts. This set of finaltax deductions and payments and the
accounts automatically gathering thecertificate numbers. The CIS tax being then
financial information from the basic entriesautomatically entered on the self assessment
made and includes the statutory notestax return. As the small business accounting
required for a set of company accounts beingsoftware is written on excel spreadsheets
published.then it is essential that users have a
version of excel from 1998 onwards installed
The package is equally suitablke for both vatto use the program. The financial accounting
and non vat registered business with vatsoftware is used by some clients who do not
returns produced at the touch of a buttonhave excel and instread use an OpenSource
each quarter. To produce a vat return clientsspreadsheet  program.
simply go to the vat file and select the
quarter end date from a drop down menu andConclusion:  to  Buy  or  not  to  Buy
the figures for the vat return are
automatically generated. The vat calculationsExceptionally good value, very easy to use
can be disabled by non vat registered smalland produces exactly what every small limited
businesses by simply changing the standardcompany requires in a small business
vat rate from 17.5 to zero making theaccounting software package, automated
accounting software suitable for both vataccounts requiring no bookkeeping skills and
registered and non vat registered businesses.no previous financial accountancy software
experience with the valuable end product of a
The fixed asset schedule is preset with thefully automated final set of accounts for the
capital allowance tax rates to automaticallylimited liability company.
calculate capital allowances when fixed



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