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