Replies

1. 
   DaveinPa | Apr 15, 2008 05:03am | #1

   Personally, I use Quick Books. But really, my daughter uses it to keep track of the business. LOL

2. 
   Mackwood | Apr 15, 2008 05:17am | #2

   I second the vote for Quick Books.  Get a pro (CPA) to come over and set it up for you.  It will cost you but in the long run it is well worth it.  I didn't and wish I had.

   I use QB on an almost daily basis and certainly would not ATTEMPT to run a business without it at this point!

   Regards,

   Mack

   "WISH IN ONE HAND, S--T IN THE OTHER AND SEE WHICH FILLS UP FIRST"

3. 
   rsaunders | Apr 15, 2008 09:15am | #3

   A third plug for QuickBooks.

   "There are men in all ages who mean to govern well, but they mean to govern. They promise to be good masters, but they mean to be masters."
   -- Daniel Webster

4. 
   Jfrostjr | Apr 15, 2008 03:46pm | #4

   QuickBooks is good - but, by all means get a professional to set it up. This "Pro" does not need to be a CPA. Any good book keeper will do.

   Unless you are an accomplished accountant (and I sense that you are not) you will end up with a mess: Fixed Assets in the P & L section, etc. The real help you need is formating your Chart of Accounts. Get someone to establish that for you and the rest will be easy.

   Frosty

   "I sometimes think we consider the good fortune of the early bird and overlook the bad fortune of the early worm." FDR - 1922

5. 
   DanCC | Apr 15, 2008 08:04pm | #5

   Once more, Quick Books.  The set up is key. You want the set up to match your tax situation so that there is seamless recording of data and use of the data for tax forms.  The last thing you need is to have to move data from place to place to match up later with tax forms.

   Dan Carroll
6. 
   md2453 | Apr 23, 2008 11:27pm | #6

   Quickbooks!  And definitely have YOUR CPA set it up!  He or she will be doing your taxes so get it right first time out and save money in the future.  Someone said any pro will do but I would advise that if you don't have a CPA now you retain one as they are the people best qualified to represent you in front of the IRS!

   There are only two kinds of business people, those that are waiting to be audited and those that have.  I for one have been audited twice in 21 years in business and both times was represented by my CPA and both times we have prevailed.  Put simply any money you spend with your accountant is money well invested and is one heck of a lot cheaper than trying to do it your self in the long run.

   Remember, the IRS makes the rules, interprets the rules and enforces the rules, and in almost all cases you ARE guilty until you prove yourself innocent.  Keep excellent records, consult with your CPA regularly and don't try to cheat.

   Madison

7. 
   byhammerandhand | Apr 25, 2008 12:44am | #7

   Quickbooks again. I say it lets you do double-entry bookkeeping without knowing it.

   Wife is a CPA, but I did most of the setup. I did the initial set up looking at Schedule C of form 1040. If you don't stray too far from this, you won't have as much trouble come tax time.

   It is also a savior when I comes time to file sales taxes every month. I do business in 7 different counties, each with separate accounting and potentially different tax rates.

   I can also suggest looking over this book:
   "Small time Operator" http://www.amazon.com/Small-Time-Operator-Bernard-Kamoroff/dp/0917510186/ref=cm_lmf_tit_3_rsrsrs0

   or browsing the freebies and books at http://www.nolo.com