Intuit QuickBooks

[chickenfeathers]

Due to VAT changes, our records will have to be kept digitally. I'm currently looking at QuickBooks; it seems pretty straightforward, but I wondered if anyone uses or had used them?

Basically, are they any good?

Thank you!

QuickBooks is marketed for the non-accountant market, so it works really well for your typical builder, freelancer, wedding planner etc. However, by trying to make it so easy to use, it can actually over-complicate things, as some straight forward transactions (like refunding a credit note or dealing with overpayments) don't seem to be processed in logical way. They do have a lot of videos online to show you how to do things. Have a play around with the demo version.

Thank you Stickerrocks. We are in the self-employed camp, so from what you have said it sounds like it will be okay for us. I didn't realise they had online videos too - so that will be helpful if we get stuck!

My clients love it. They like being able to download a bank statement and automatically match the transactions. I get frustrated though when a quick debit & credit turns into a 10 step process to correct a silly mistake!

Have you looked at Xero as an alternative? It's a bit more structured and slightly less noddy.

I prefer QuickBooks to Xero, although that’s mainly because I’m more used to it. But there are things you can do in QuickBooks that you can’t in Xero IME (you have to find other ways around it). What are you using at the moment OP?

I like it, but I use only for mileage tracker, transactions and income/outgoings. I don't use the invoice tools.

I'm a bookkeeper and I hate QB. It sells false promises to people who have no idea what they're doing with their accounts and I find it's not very logical - too many steps to simple transactions. Xero is much better.

I haven't heard of Xero. I must look into that one and do a comparison. At the moment we're using manual accounts (I know, I know!). Whatever we do go for, it must be VAT compliant.

Thank you for all of your feedback - I really appreciate it.

chickenfeathers, my dh is still using Excel for his accounts at the moment and he’s planning to buy some software from Taxcalc to use for submitting his VAT returns digitally. Might be worth a look.

Lots of small business owners struggle with QuickBooks IME. As I said, I don’t have as much experience of Xero but I used to find it more intuitive until I got used to QBs and now I find Xero frustrating and much slower.

The main thing I dislike about Xero is that you can’t create a journal with any lines that involve the bank account. This makes it difficult to put in an entry for something like a transaction that is a payment against a sales invoice that has been paid net of foreign exchange transaction fees or factoring charges.

The ability to enter bank transactions in QBs does lead to some users making a lots of mistakes though eg with duplicate transactions where the user has entered something manually and then added it again when the transaction has been downloaded from the bank.

The Xero system is less flexible but it makes it impossible to enter incorrect bank transactions (nothing can be entered into the bank transactions unless it has come rom the bank feeds).

So, if your transactions are all straightforward Xero might be better.

Check out VT software. Pretty cheap, very simple to use, easy to correct mistakes and will be MTD ready for April.
I'd have all my clients on it if I could (Bookkeeper here too).

I'm a bookkeeper and I hate QB. It sells false promises to people who have no idea what they're doing with their accounts and I find it's not very logical - too many steps to simple transactions.

I'm an accountant and hate QB too. My heart sinks when a new client contacts me and says he'd been using QB - 9 times out of 10 it will be mostly garbage as he won't have bothered with looking at the help pages or tuition videos as he's fallen for the "simple to use" crap they peddle in their adverts.

If you want something simple and intuitive to use for the smallest/simplest of businesses, just look at Freeagent. The likes of Xevo and QB are too convoluted for the raw amateur with simple needs.

Check out VT software. Pretty cheap, very simple to use, easy to correct mistakes and will be MTD ready for April.

Yes, if you don't want something web/tablet based, then VT is absolutely ideal. Their cash book version is free and their ledger based version (VT transaction) is lifetime purchase cost of about £130 one off. Really simple to use , mostly because there are no fancy gimmicks.

I'm so glad I posted on here! We only need something basic, so your honest opinions have certainly opened my eyes. QB does come across as the answer to everything. Clever advertising sells stuff not really suitable to those who are not very experienced. The same happens in our trade, and it annoys us too. We are only making this change because we have to, not because we want to.

I will take a look at the other suggestions you have all given me. Thank you again!

I'm a bookkeeper and prefer xero or freeagent to QB too. You do have to know what you're doing on all of them though imo, unless it's very straightforward, fee transactions etc . I've seen clients claim Vat on payments to directors loan account/drawings and all sorts when they first come to us; and soon HMRC will be able to access the digital records that make up a return so presumably things like that could be picked up automatically and penalties issued.

OP if you bank with Natwest/RBS you can get free agent free. Might be worth a trial if so?

I've seen clients claim Vat on payments to directors loan account/drawings and all sorts when they first come to us

I've had clients who've claimed VAT on literally ALL payments, including payments of VAT, PAYE, tax - the lot. The thing is, one in particular previously did meticulous books on paper, and just assumed the computer software would be right, so didn't even give it a thought about which VAT code to use. Any software that allows a 20% VAT code to be applied to a tax payment isn't fit for purpose. Sadly QB falls into that camp - far too easy for amateurs to make pretty fundamental mistakes.

Well, after reading your honest opinions, I can safely say that QB is definitely off the list. I will look at the other suggestions you have given me.

Thank you all once again for helping me out!