open source bookkeeping software?

I need to get a handle on bookkeeping for my new business quickly, while it's still simple and I half-way understand it.

My needs are modest - I mainly need something to invoice accounts (I have 5; 6 if you count the restaurant I'm trading space for product, and I do intend to keep track of it just to know what I'm spending), and to track expenses. Basic stuff.

I've used Quickbooks. I think it's more than I need, and I don't really like the back end. And it's expensive. Lean and mean. Streamlined.

I wish Google had something like this, because based on the rest of their Docs programs, it seems they'd be making just what I'm looking for.

I'm thinking of Open Office, but I have no experience. Thoughts?

Any suggestions welcome.

Never used any, but for all my other open source needs I visit http://sourceforge.net They may have exactly what you need

http://www.gnucash.org/features.phtml?

I have a genuine copy of M.Y.O.B. (Mind Your Own Business) for the cost of shipping for you if you want it A (or a little dough).

(I hope you see what I did there ;) )

Seen. Respected. Always reliable.

Someone is going to say it at some point. Quickbooks.

I started out with an open source software and after the first tax season changed to quickbooks. Getting the open source software to do anything other than invoicing was a pain. It also didn't want to do multiple sales taxes. The change over was a royal pain it the posterior because everything had to be entered from scratch. You can buy their basic version for around a $100 and it will expand as you do.

I hope this isn't the wrong place for this, but pm me. I know someone that may be able to help you.

dang it, quickbooks dropped their simple start program. It used to be a free basic version of quickbooks. You WILL end up needing quickbooks for your business. I suggest dropping the $100 on it when it is on sale.

We use Quickbooks Pro for our business. It can be a royal pain at times, but it does the job, and our accountant just needs an e-mail to take care of things. Our bookkeeper in a Quickbooks trainer, that helps a lot. But still, wifey occasionally goes into a tirade sounding like a pissed off sailor.

I had quickbooks for my business but still used MS excel for doing my balance sheet & Invoices. If its just the minimal book keeping stuff then you might be able to get by with excel. QB is nice & has a lot of features but I think I only used about 10% of its capability.

Kendall recovering small business owner

Good point about Excel. I have a bookkeeper friend who's a spreadsheet ninja (and she's a cutie, to boot), so maybe she can set me up with something basic for the time being.

I hear you on QB, though. I have a feeling I'll have to bite the bullet eventually, but I'm hoping I can stave it off for a little while while I have such a small number of accounts. When I get big enough to need it, I'll be able to justify the cost - both in terms of money and time.

I think your instincts are great to conserve cash as the business launches. However, there is something to be said for having the books stored in a tool and format that is widely used and just about any book keeper navigate.

for tracking personal expenses I use mint.com its really pretty and its pretty good for setting up budgets and spending/savings goals. But it is really oriented towards personal fiance and not business finance. I don't know that it would have all the features you need for your business.

Type Q wrote: I think your instincts are great to conserve cash as the business launches. However, there is something to be said for having the books stored in a tool and format that is widely used and just about any book keeper navigate.

If an accountant cant read a balance sheet in excel then you probably dont want them doing your books. Just because QB is the gold standard does not mean you need it right away. Got 10+ employees & 3000 parts in inventory, then maybe yes.

another question - are you planning on dealing with an accountant to do things like a balance sheet or just once a year @ tax time? Its much cheaper to DIY the books & then send it off @ tax time. However, you should have a basic understanding of how a balance sheet works (that is the core of good accounting). Its very simple but tricky to think about if your not a financial guy.

So, to everyone else (the QB fanbois), why is it necessary to have QB right away? Does it dumb down the accounting side of things? Just dump in every transaction & let it take care of it? I know it does payroll / inventory / write checks / emails invoices / etc but for the average super small startup business - you just need a way to track your money (balance sheet) & send invoices.

Kendall

I am NOT a QB fanboi. It is however the defacto standard for business accounting. I do not like it, but the IRS, banks, accountants do.

Back in the day I did create a spreadsheet for the repair shop to use for business tracking. once they got a real accountant they had to switch to quickbooks because it saved them money. a spreadsheet the accountant has to spend time reading and putting the numbers where they really belong. time = money. with quickbooks its already done for them so they don't have to bill out more hours on it which saves money for you.
that and switching to it later from a spreadsheet for me was a royal pain.

internetautomart wrote: ...once they got a real accountant they had to switch to quickbooks because it saved them money. a spreadsheet the accountant has to spend time reading and putting the numbers where they really belong. time = money. with quickbooks its already done for them so they don't have to bill out more hours on it which saves money for you. that and switching to it later from a spreadsheet for me was a royal pain...

This.

The easier the accountant's job the cheaper they will be.

In reply to Soni2016:

If I were building a Canoe business I am might consider it.

Canoe deleted

Spend the $$$ go quick books now. It will cost you 10x this down the road to either change over and or the cost at tax time for a cpa to sort out your spreadsheet.

I just started a new business this week and the first purchase the company made was a clean copy of quick books pro. I have done this three or four times in the last twenty years and trust me being cheep when I comes to handling your accounting will in the end cost you.

Another thing.

The argument that you don't use all the functionality of a program is one I here all the time. My answer is so what. It does not matter what you don't use what matters I how well it does the part that you do use. I don't use half of the stuff QB can do and I don't care. What it does do for me it does perfect for me.

Again I can not stress enough how important it is to do everything with an eye on tax time.

Quick books makes that part painless compared to other software. Two hours you don't have to pay a cpa more than paid for a copy of QB.

The company I work for has an accounting package... I have no idea if it is good or not, but since Intuit is our competitor I would say give it a look: PatriotSoftware.com.

I will state again that I know nothing about it other than I occasionally hear the developers talking about it.

Quote from a course I took in the 80s about computer systems for manufacturing that is true here too.  "No system will do everything you want, and no system will be appreciated by all six months after implementation.  But in the end it will become a valuable asset and improve support of the operation.  Or stumble from system to system and waste money and time."

Bite the bullet, buy QB and learn to love it.  Resistance is futile.

The ubiquity of Quickbooks, a technically terrible piece of software with very specific dependencies on other pieces of costly commercial software, is one of the most tragic cases of proprietary software lock-in in computing history, right up there with Windows in the '90s and the current AMB/MyLaps situation.

I think what changed is that accountants have stopped opposing it for some reason. In the early days (maybe up to the mid/late 2000s), IT and accounting departments were united in their hatred of it, IT hating what a technical clusterberkeley it is and accounting seeing it as a Playskool accounting suite for small businesses with no credentialed professional accountants on staff. At some point accounting either came around to it or admitted defeat and now here we are.

6 years later and I still hate QB. I use it for invoicing and payroll. 

It does make my accountant's life a little easier as I can send her reports in an Excel format that make sense to her and she can keep the government off my back.

Unfortunately, they are the only game in town without spending $10k plus on better software. 

GameboyRMH said:

The ubiquity of Quickbooks, a technically terrible piece of software with very specific dependencies on other pieces of costly commercial software, is one of the most tragic cases of proprietary software lock-in in computing history, right up there with Windows in the '90s and the current AMB/MyLaps situation.

I think what changed is that accountants have stopped opposing it for some reason. In the early days (maybe up to the mid/late 2000s), IT and accounting departments were united in their hatred of it, IT hating what a technical clusterberkeley it is and accounting seeing it as a Playskool accounting suite for small businesses with no credentialed professional accountants on staff. At some point accounting either came around to it or admitted defeat and now here we are.

Nice summary.  I'll add that the Quickbooks popularity is a testament to the power of good marketing.