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Review DIY Accounting Limited Company Accounting Software

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




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