| As the whole small business accounting | | | | The limited company corporation tax liability |
| software for a limited liability company is | | | | is also calculated automatically in such a |
| written on excel spreadsheets all bookkeeping | | | | way that all the calculations; additions and |
| transactions are visible. Each excel workbook | | | | deductions are both automated and visible. |
| being arranged in 12 monthly worksheets. | | | | Capital allowances on both existing and new |
| Prime data entry excel spreadsheets being | | | | assets being shown on the corporation tax |
| provided for sales, purchases, cash, bank, | | | | calculation. |
| savings account and credit card account. | | | | |
| Financial transactions such as sales or | | | | Accountancy Knowledge Required |
| expenses are then simply listed on the | | | | |
| appropriate months' sheet. And should a | | | | The limited liability company accounting |
| change be necessary any item can be easily | | | | software is based upon single entry of |
| changed. This simple listing process is a | | | | transactions requiring no accounting or |
| huge advantage to non accountants as no | | | | bookkeeping knowledge. All the accounting |
| previous bookkeeping or accountancy software | | | | knowledge required to perform the double |
| knowledge is required. | | | | entry of transactions which is a required |
| | | | feature to produce a balance sheet has been |
| Bank spreadsheets can be entered by listing | | | | automated. The company accounts package has a |
| the items that appear on the bank statement | | | | feature so that the previous years' figures |
| and include a box to enter the statement | | | | may be entered and lists of opening debtors |
| balance each month. The formulae within the | | | | and creditors recorded. A minimal level of |
| excel spreadsheet then automatically checks | | | | accounting knowledge is required to correctly |
| that the entries made agree with the | | | | list the closing debtors and creditors and |
| statement balance producing effective bank | | | | check the totals of those lists agrees with |
| reconciliation. A good feature that ensures | | | | the automated balances shown on the company |
| entries are recorded accurately in the | | | | accounts balance sheet |
| companies accounts. | | | | |
| | | | Very Low Priced |
| From the lists of sales and purchases plus | | | | |
| the bank statement entries all the | | | | At £15 the accounting software can save |
| information is automatically transferred to | | | | many businesses exempt from a full audit the |
| the financial accounts file. In this file is | | | | need to employ an accountant potentially |
| a trial balance which actually automates all | | | | saving hundreds of pounds in professional |
| the double entry accounting transactions. No | | | | fees. Hundreds of small limited companies |
| entries are required removing the need for | | | | with up to 20 employees also purchase the DIY |
| users to have accounting experience. The | | | | Accounting Payroll Software which is sold |
| Trial Balance is purely an accounting | | | | separately from £14.99 and fully |
| solution, visible and contains an audit check | | | | integrates into the Financial Accounting |
| to again ensure the company accounts are | | | | Software. |
| accurate with no entries are required. The | | | | |
| lack of entries in the area of accounting | | | | Other Features |
| makes the product an ideal package for | | | | |
| companies requiring a small business | | | | The product has a stock control feature to |
| accounting software package. | | | | monitor any stock losses. The limited company |
| | | | accounting software contains a wages |
| Within the financial accounting software file | | | | interface that fully integrates the DIY |
| is an automated monthly profit and loss | | | | Accounting Payroll Software when those files |
| account to enable limited companies to track | | | | are saved into the same folder as the |
| their financial performance and very | | | | accounting software files. Being written on |
| important, the package also produces a | | | | excel spreadsheets all transactions are |
| balanced profit and loss account and Balance | | | | visible and capable of being changed by for |
| Sheet in the correct format for submission of | | | | example overwriting any errors as opposed to |
| the final accounts. This set of final | | | | a database system that requires new |
| accounts automatically gathering the | | | | transactions to be entered to reverse |
| financial information from the basic entries | | | | previous entries. The sales and purchase |
| made and includes the statutory notes | | | | spreadsheets include columns for entering CIS |
| required for a set of company accounts being | | | | tax deductions and payments and the |
| published. | | | | certificate numbers. The CIS tax being then |
| | | | automatically entered on the self assessment |
| Quarterly vat returns are generated for vat | | | | tax return. As the small business accounting |
| registered business and is also suitable for | | | | software is written on excel spreadsheets |
| non vat registered business. To produce a vat | | | | then it is essential that users have a |
| return clients simply go to the vat file and | | | | version of excel from 1998 onwards installed |
| select the quarter end date from a drop down | | | | to use the program. The accounting software |
| menu and the figures for the vat return are | | | | also works fine with an Open Source |
| automatically generated. The vat calculations | | | | spreadsheet package. |
| can be disabled by non vat registered small | | | | |
| businesses by simply changing the standard | | | | Conclusion: to Buy or not to Buy |
| vat rate from 17.5 to zero making the | | | | |
| accounting software suitable for both vat | | | | Exceptionally good value, very easy to use |
| registered and non vat registered businesses. | | | | and produces exactly what every small limited |
| | | | company requires in a small business |
| The fixed asset schedule is preset with the | | | | accounting software package, automated |
| capital allowance tax rates to automatically | | | | accounts requiring no bookkeeping skills and |
| calculate capital allowances when fixed | | | | no previous financial accountancy software |
| assets are entered. Depreciation is also | | | | experience with the valuable end product of a |
| automatically calculated with preset | | | | fully automated final set of accounts for the |
| percentages that can be changed as required. | | | | limited liability company. |
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