Accounting Software

[bedrock]

Do you use any software to manage your own photography business accounts? As I am now on a freelance basis, i do not really keep track of my receivables and payables but I would like to do it better so that I can keep track of the numbers better.

What will be a suitable software for a small photography business? I heard of Quickbooks, Quicken etc. Would like to hear yr views on the packages you are using.

Thanks.

 

[Agetan]

Do you use any software to manage your own photography business accounts? As I am now on a freelance basis, i do not really keep track of my receivables and payables but I would like to do it better so that I can keep track of the numbers better.

What will be a suitable software for a small photography business? I heard of Quickbooks, Quicken etc. Would like to hear yr views on the packages you are using.

Thanks.

Just start using the simple excel spreadsheet will do. Put them in categories and keep a record on your in and out for your business.

Once the business is on track, let the accountant to do the work for you while u steer the business.

Regards,

Hart

 

[Doctor Inferno]

Yeah, spreadsheets will do a good job for your needs. I use it too with Excel.

 

[catchlights]

I'm using Quickbook simple start, is a free version but already more than I need.


hope this help.

 

[bedrock]

thanks all. spreadsheets are good and flexible but a free edition of the Quickbooks will be better. Will download and try the Quickbook Simple Start.

 

[nex100]

if you know something about ledgers and journals then it is useful to have an accounting software. if you want to know where your money comes from and goes to? just keep a cash book indicating the money you collect and the money you spend. Be sure to be careful differentiating what is business expense and what is personal expense.

for people who just want the simplest method, just look at your bank book.

 

[Blur Shadow]

What do you hope to extract from the accounting software? Because accounting is more than just keeping track of your AR and AP, as you mentioned. It is useful for providing an audit trail, business analysis, inventory management (may not be that useful if you're in the photography business).

Of course, certain functions can be managed by a competently designed spreadsheet.

 

[Ian]

Firstly to the O/P at what level are you operating? Full time professional photographer or hobbiest who does a few paid jobs?

Photography as a profession is a business first and foremost, image quality while important is secondary. In well over 3 decades in the game professionally I've lost count of how many startups I've seen fail, mostly due to poor business management. (ie no business sense).

A simple spreadsheet is enough to get you going, set it up for monies payable, receivable and where the money goes, allow for simple taxation if required. Once you are doing more than a job a week I will advise you to go on to something like MYOB or Quicken etc, that is a far more comprehensive package.

The more you leave the accountant to do the less profit for you! A couple of hours of accountants time and their fees can destroy the profits from a fair sized wedding in SG... food for thought for some of you perhaps?

The better your record keeping the more accurately you can predict not only income flow but also tax liabilities and see where your major losses are occuring as well as profitable components of the said business.

 

[scanfilms]

Ref: http://www.business.gov.sg/EN/Gover...fAssistance/Grants/Technology/gp_ida_asas.htm

The SG Gov is giving 50% grant for you to get a GST approved Accounting Software. I think you should use the government grant. Most of these software is in the $2-3K range... After 50% off, it's about $1.5K.. I think it's a good deal. I like MYOB Premier Plus Version and FACT ERP.X IAF Version quite a lot.

Sorry if I sound to geeky. It's what I do.

 

[nex100]

anyone who wants free accounting software please pm me. i have a lobang for it.

 

[fabianaino]

I purchased a software called ExpressInvoice.
Basically it generates professional invoices and quotation.

While this might not be important for personal services like weddings, it makes a hugh different when dealing with corporations works. It may also mean whether you can get your AR faster or later.

Like one of the bros here mentioned, if you are taking photography as a profession, cashflow is very important.

It's also easier if you are a registered entity with ACRA and needs to report your earning for the year. It gives you a piece of mind that your records are in place, in case someone requires some verification.

Whereas MYBO is good, it may flex its muscles when you are making alot of money say $100K per year and have expenses such as salary for your employees, GST etc.

I think most of us has a foundation in basic accounting while we are at school. So if one is running a one man show currently with help from part timers, then we have to value the cost of the accounting software vs earnings. If you ask a professional, they will tell you the very best they know but not necessary something which you need. They have to know these to impress. But ultimately running a business is alot of work. Same in the photography business, if you want to run it well, you have to know more than just the act itself.

Hope this helps.