Thursday, May 28, 2009

accounting

This is what happens when you haven't touched your accounts for a few months.


And that's not including all the online transactions I've made.

The reason I've been putting it off is because for the first half of the financial year I kept my accounts in MYOB. When the trial version ran out I decided I wasn't going to pay $170 or something for it when there are open source options for free, and when my accounts are completely basic. (I think that my accountant won't be pleased, but I'll deal with that when tax time comes.) But that means I need to re-enter all my info into the other program.

I've been using Gnucash for personal accounts for a while, and it does small business, too. It's reasonably easy to use and shows all the reports I want. The only problem with it is that when I try to print something, it freezes. This is okay for my near-paperless office (just got the receipts, which I'm required to keep) and if I really want to print something I can print screen and move it to Photoshop, to do with what I will.

Sigh. Back to it..

7 comments:

it's me ...Twinkie Chan! said...

I've been so afraid of learning an accounting program, and I want one that will also allow me to not calculate all the California sales tax zones and individual sales by hand. I say this every year at tax time, and then the following year I let it slide again. I HATE ACCOUNTING!!!

Ali J said...

Well I will admit your pile looks very nice in comparison to mine. I haven't done my paperwork since... umm... *cough*.... June 2008. I'm the type of girl to sit down for 2-3 days straight and slam it all out in one hit. I'm good with finances and know what is coming in and out.... I just don't know the grand total. To be honest I'm a bit scared by it all. =)

fierce said...

The ATO has some free software, I think it's called e-account. Fairly simple but would probably suit you. Also, there may be certain advantages in filing your taxes as an "artist". I'm unsure if you can do this normally, but as an artist you can claim the cost of your studio (say it's 1 room in a 4 room house, 25% of rent, electricity, etc) as a cost, and therefore not pay tax on that amount of income.

black vanilla rose said...

I'm such a geek... I LOVE accounting and doing accounts!! so sad I know

Penny said...

yikes! i am not looking forward to tax time.

Buttons by Lou Lou said...

Oh gosh. I am still avoiding mine. HELP!

Heidi and Seek said...

Twinkie - Ahh! Fortunately I don't have to work out tax. I can see why you hate accounting.

Ali J - Well it's good that you're keeping track of incomings and outgoings. I only know what's left in my bank account and what little I can remember, if I haven't done my accounts!

fierce - Thank you! I think I'll check that out. About claiming part of your home as a deduction, I'm pretty sure any home-based business can do that, not just artists. I'm thankful I saw an accountant about how to do this stuff before I started!

black vanilla rose - It was my favourite class in high school. :x Aside from the procrastination anxiety, I do find it quite satisfying.

Penny and Lou Lou - Good luck!