Accounting advice.

[BrassBulls12]

Not sure if this is the right place for this but I am seeking recommendations for accounting software to help run a small art shop. We are going to be operating through square so a service that is synced with them is needed. However, they offer bout 12 different options and I am not sure which is best for us.  Any advice is welcomed. 

[Ricky the Bull]

If you want basic accounting and nothing job-related, you can go with Quickbooks.  I believe they have an integration with Square.

Do you need it to integrate with a POS system?

https://quickbooks.intuit.com/online/integrations/square/

 

Edited March 4, 2020 by Ricky the Bull

[BrassBulls12]

13 minutes ago, Ricky the Bull said:

If you want basic accounting and nothing job-related, you can go with Quickbooks.  I believe they have an integration with Square.

Do you need it to integrate with a POS system?

https://quickbooks.intuit.com/online/integrations/square/

 

I don't believe we will be using a point of sale system.  The whole business will be operated online through square, for now and the foreseeable future. It's really more of a side gig for me and my significant other. The options we were looking over are Taxjar, Xero, Quickbooks, and Zoho. Just trying to figure out what exactly we need and really not wanting to overpay for services we don't. Biggest concerns are tracking expenses and keeping up with taxes. 

Thanks you for reaching out BTW

Edited March 4, 2020 by BrassBulls12

[Ricky the Bull]

1 minute ago, BrassBulls12 said:

I don't believe we will be using a point of sale system.  The whole business will be operated online through square, for now and the foreseeable future. It's really more of a side gig for me and my significant other. The options we were looking over are Taxjar, Xero, Quickbooks, and Zoho. Just trying to figure out what exactly we need and really not wanting to overpay for services we don't. Biggest concerns are tracking expenses and keeping up with taxes. 

Thanks you for reaching out BTW

Not a problem.  Just keep in mind when you look at features and budget that you consider what you might need if your side gig becomes something more.  You want something that's scalable and can grow with you, if that happens.  I assume most of those would give you the reports you need to be able to monitor the business and help you with your quarterly and annual returns.  I'm not sure what other specialized needs you may want for that specific business, but you'll probably be safe with one of the major players.  They have the online help and user groups that can answer issues that come up.

Best of luck!

[MikePhillips]

Quickbooks Online would work perfect for you. Accounting Software is meant to basically track 4 things

Cash In (income)

Cash Out (expenses)

Who owes you (income)

Who you owe (expenses)

Keep in mind, 99% of accounting software is meant for people who have no experience in accounting.

 

[BrassBulls12]

40 minutes ago, MikePhillips said:

Keep in mind, 99% of accounting software is meant for people who have no experience in accounting

Hey thats me!  haha. Thanks, we have look into quickbooks and are strongly considering it. We were also looking into combining two services like TaxJar and Zoho as they are both cheaper than Quickbooks. its a really small side operation at the moment so limiting expenses is key. 

[Rocky Style]

Very nice.