Cashflow Manager

[DexterPunk]

Do any of you guys use it for your own businesses? I've bought this and learning it at the moment... well, trying to anyway.

I've worked out how to create invoices, but would like to add my bank details for direct deposit. I can't see where to add this... complete noob with this program... or any accounting software for that matter

[pab]

We actually designed the packaging for it.

As for how it works, nope, sorry, no idea

[Quincy]

Can't help you. . . I've used e-Record for the last 7 years, with no dramas; i'll continue to use it even though development/support will stop. It is basic one-entry accounting, which is fine for my business which doesn't have a high turn-over (read, less than 75,000). It is a one-stop package, calculates GST (which any monkey could do ) and now that you don't have to register for GST if you turn-over less than $75,000, small business owners don't need all the bullshit!

My accountant recommended using a pen and paper for my accounting, old skool! Wow, who would have thought you could run a business without the need for a computer!!

Cashflow manager $260, or keep using e-Record (free)?? hmmm, it's not a hard choice. . .

Good luck with it anyways Dex.

If I was you, download e-Record before it evaporates. It is ALL you'll need for the next 5 years at least.

[DexterPunk]

Cheers for the info, but having spent the money on this, I'm fairly keen to stick at it. I'm getting there, and my sister uses it without too many headaches and telling her how to put songs on an mp3 player over the phone took 2 hours. So I'm sure I'll pick it up soon. The accounting jargon and my lack of knowlege on the topic is probably my biggest hurdle right now.

[Quincy]

Well, all said and done, it is however, frustrating how such a simple product like e-Record has been shelved, 10 years it has been available and should remain. . . retarded. Just another step back for small business in my opinion. Forking out good money for such basic requirements, aargh, 370,000 units sold (cashflow manager) talk about cashflow!! bastards.

/rant

[DexterPunk]

I should have probably asked here first about an accounting package... I would have been happy to use it. But Im sure you can understand that now that i've paid for it, I may as well get my moneys worth. It was the package that my accountant recommended. Perhaps he doesn't know about e-Record?? Cashflow manager does seem to have some pretty nifty features however.... although not sure if ill ever use a lot of it.

[Quincy]

Yeah, use it by all means, it will be good, your accountant will like it because it will be less work for him, so he can pump through more customers (bet he still charges the same fee, as for an e-Record customer. . . more ranting ) He would know about e-Record, it is straight from the ATO, but the push is on from all sides to move to a more stream-lined, bank reconcilable package, more ways to keep an eye on your every move.
As far as features are concerned, you hit the nail on the head, you wont need 75% of the features. bastards.

At least you didn't buy MyoB. . . !!

Keep it simple Dex.

[DexterPunk]

Cheers mate

Yeah MYOB looks more confusing and pricey. One thing the accountant did do which seems like he somewhat cares, is sell me the non gold cashflow manager proggie, instead of the more comprehensive 'gold' edition. Its seems to be a bit more simple to use.

[Montey]

(Understanding that you have already made your choice) My recommendation is that if your business is less than $1mil per year turnover use QuickBooks, its fast and extremely easy to get going, but if your over $1mil per year turnover use MYOB.

[DexterPunk]

lol thanks.... wasn't really the advice I was after, but if i make over a mill a year ill switch to MYOB.

[TIMMY30]

If you make over a mill.. PAY SOMEONE ELSE TO DO IT

[Montey]

lol thanks.... wasn't really the advice I was after, but if i make over a mill a year ill switch to MYOB.

I guess I was kind of saying my advice would be to go for QuickBooks. The average business owner, who understands basic concepts like debts vs credits, can get it running and managing stock, receipts, purchasing, etc... in about 60 minutes.

If you make over a mill.. PAY SOMEONE ELSE TO DO IT

There's a big difference between having a turnover of $1mil and having profits of $1mil.

[DexterPunk]

lol thanks.... wasn't really the advice I was after, but if i make over a mill a year ill switch to MYOB.

I guess I was kind of saying my advice would be to go for QuickBooks. The average business owner, who understands basic concepts like debts vs credits, can get it running and managing stock, receipts, purchasing, etc... in about 60 minutes.

If you make over a mill.. PAY SOMEONE ELSE TO DO IT

There's a big difference between having a turnover of $1mil and having profits of $1mil.

Very true.

[Robbo]

Cashflow Manager is actually a very good package. It isn't a full blown accounting system like MYOB as such but it does everything you would need in an 'Excel Type' layout. I know a number of accountants and small businesses who use it.

[Rots]

I hated MYOB. My god, what a piece of shit that was to use. That is all.

[Montey]

I hated MYOB. My god, what a piece of shit that was to use. That is all.

My personal, hands on, experience with MYOB wasn't very good either...... but having subsequently worked with CFO's using the software I have since learned it is an excellent product, but you have to have some serious training and experience to get good stuff from it. It's not intuitive at all, which is why I recommend smaller users (who can't afford an internal accountant) go with something like QuickBooks as it is much more user friendly.

[AstrO]

I love how MYOB's "networking" works...

[9ra55h0ppaH]

My grandfather uses Cashflow Manager for the family business, and he cant use a computer to save himself. Their support team has always been very good to him though... if they can show him how to do things, it would be a cinch for you!

[Hz-Lab]

Yeah i need to get something shortly, I was going to go MYOB as I'm trained and accredited with it, although it's been some 4 years since I last used it and honestly, while i think a lot would come back, I just can't be arsed messing with it at depth when all I need is something simple.

Does cashflow Manager handle Stock too?

[DexterPunk]

I think you need the Gold version for that Hz.

[Quincy]

how much stock will you be holding ? over $4000 ??

[Hz-Lab]

yes, but only of say a maximum of 20 different lines.

[Quincy]

Righto, reason being, if stock level is under $4000, you don't need to track it for taxation purposes.

[Hz-Lab]

yeah i reckon i'd still like to track stock regardless. Makes it easier to make sure it get's replenished and can calculate demands and trends much easier. But I wasn't aware of that fact, so cheers.

[Hz-Lab]

oh another quick question. If I am buying product from OS, do I just record it as having no GST component? or am I better off calculationg a "false" GST component as such. if you get my drift.