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Thread: Quickbooks

  1. #61
    Senior Member Bgs's Avatar
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    Default Re: Quickbooks

    You can alter edit/alter invoices to add company logo payment details ect, you can send a statement by email, you can reconcile bank statements (you can not import them like other versions), you track gst and do BAS.

    I am not changing I am very happy with it

  2. #62
    Senior Member glassngrass's Avatar
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    Cool Re: Quickbooks

    Can I help anybody further???
    David
    Mr Sparkle Car Spa

  3. #63
    Senior Member Bgs's Avatar
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    Default Re: Quickbooks

    Quote Originally Posted by glassngrass
    Can I help anybody further???
    Oh no another self appointed messiah just joking appreciate your help

  4. #64
    Senior Member m287j's Avatar
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    Default Re: Quickbooks

    Quote Originally Posted by glassngrass
    Can I help anybody further???
    Yes please, my fingers are sore from typing on the forum, can you please come around and enter my invoices in Quickbooks for me. I will shout you a beer or two

  5. #65
    Senior Member glassngrass's Avatar
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    Default Re: Quickbooks

    Quote Originally Posted by m287j
    Yes please, my fingers are sore from typing on the forum, can you please come around and enter my invoices in Quickbooks for me. I will shout you a beer or two
    I get real thirsty! If accuracy is not an issue will happily work for beer
    David
    Mr Sparkle Car Spa

  6. #66
    Senior Member Bgs's Avatar
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    Default Re: Quickbooks

    Quote Originally Posted by glassngrass
    Can I help anybody further???
    Yes you can would record a $180.00 whipper snipper attachment for a sthil combi tool as a asset or a expense I brought the motor, hedging attachment , chainsaw attachment all at the same time and recorded them as assets

  7. #67
    Senior Member geoff's Avatar
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    Default Re: Quickbooks

    for quickbooks 09 they have just released an update which gives a few better and easy options if u own qbooks from 08 on wards the upgrade is free

  8. #68
    Senior Member Bgs's Avatar
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    Default Re: Quickbooks

    Quote Originally Posted by Bluey
    Good tip BGS. Well done.
    It wasn't a tip I was asking Mr Glassngrass a question

  9. #69
    Senior Member Bluey's Avatar
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    Default Re: Quickbooks

    Good tip BGS. Well done.
    Cheers

    Bluey
    Adelaide Home & Garden Solutions
    http://www.ahgs.com.au


    "Success occurs when no one is looking, failure occurs when everyone is watching."

  10. #70
    Senior Member Bluey's Avatar
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    Default Re: Quickbooks

    I am not all that fond of Quickbooks. Has anyone tried MYOB. Which is better. Better still where is My Mow Professional
    Cheers

    Bluey
    Adelaide Home & Garden Solutions
    http://www.ahgs.com.au


    "Success occurs when no one is looking, failure occurs when everyone is watching."

  11. #71
    Senior Member mowjoman's Avatar
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    Default Re: Quickbooks

    Yep. I use MYOB. Mowjowoman is an ace on it and I'm learning.....slowly.
    Cheers, Jason.

    If your lawns and garden's have lost their Mojo...
    Call Mowjo Man

  12. #72
    Senior Member DavidS's Avatar
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    Default Re: Quickbooks

    I changed form Quickbooks to MYOB, took a while to get used to it, but now I would not go back to Quickbooks.

  13. #73
    Senior Member glassngrass's Avatar
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    Default Re: bgs whipper snipper attachment for a sthil combi tool

    Assets purchased for $1,000 or more must be depreciated (the ATO has a schedule for percentage they allow each year). If item dies, then you can write off the remaining value in that year.

    Most of us would have been on the simplified tax system - which means items less than $1,000 can be fully written off in the year of purchase. If you are on the simplified system, then record your purchases under $300 as an expense, but purchases between $300 and $1,000 as an asset AND then fully write it of on 31 July.

    However, for the 2007–08 and later income years the simplified tax system (STS) no longer operates and has been replaced by the small business entity provisions.
    You may only continue using the STS accounting method if you:
    were in the STS in 2006–07
    were using the STS accounting method continuously since before 1 July 2005, and
    are a small business entity from 2007–08.

    refer http://www.ato.gov.au/businesses/con...t/00122551.htm

    Under STS, any items under $300 should be recorded as an expense.
    The catch - if your purchase, although under $1,000, is part of,or adds to a set eg. your $180.00 whipper snipper attachment for a sthil combi tool adds to your combi tool set. If total value is over $1,000, then yes, it should be recorded as an asset instead and depreciated. If I add a new Sidchrome 2" socket would ADD to my socket set(adds to asset), but to replace a broken 1/2" socket is a tool replacement(expense).

    If you are not using STS, then the rules are different.

    For those who were not using STS before or are newer, from 1 July 2007, small businesses with an annual turnover less than $2 million are called small business entities and may qualify for a range of tax concessions. Including - generally, you can pool your assets to make depreciation calculations easier and also claim an immediate deduction for most assets costing less than $1,000. I understand pooling to mean to record your under $1,000 purchases into an asset account (pool).
    There are two pools:
    the general small business pool – for assets with an effective life of less than 25 years, and
    the long-life small business pool – for assets with an effective life of 25 years or more.

    refer http://www.ato.gov.au/businesses/con...t/00149651.htm

    Disclaimer : The above reflects my own understanding which may be incomplete or inaccurate. The ATO deals fairly with those who make 'honest' mistakes, esp when based on info put out by the ATO themselves. For professional advice on taxation matters you should consult your accountant.
    David
    Mr Sparkle Car Spa

  14. #74
    Senior Member glassngrass's Avatar
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    Default Re: Quickbooks

    Quote Originally Posted by DavidS
    I changed form Quickbooks to MYOB, took a while to get used to it, but now I would not go back to Quickbooks.
    Quickbooks has excellent reporting tools - far superior to MYOB.

    David/mowjoman - what is it you like about MYOB?
    Last edited by glassngrass; 04-03-2009 at 06:28 AM. Reason: typo
    David
    Mr Sparkle Car Spa

  15. #75
    Senior Member mowjoman's Avatar
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    Default Re: Quickbooks

    To be honest gng I dont know
    My wife is an accountant and thats what she uses. I am learning but I am very much a novice in any sort of accounting method.
    Have never used anything else.
    Cheers, Jason.

    If your lawns and garden's have lost their Mojo...
    Call Mowjo Man

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