Your accounts consist of payments for the purchase of stock that is going to be re-sold, payments for expenses that need to be made to run your business, and a record of your sales.
In addition to these items you need to be able to easily keep track of your cash and bank balances, and if vat registered extract figures for your vat returns.
At the end of your financial year you need to be able to give your accountant weekly printouts to enable him to produce your accounts or produce a profit & loss account.
All these things can easily be done from within TimeSaver Accounts with our simple to follow screens and a minimum of effort.
You have a page (screen) to enter your stock purchases on, a page for your expense payments and a page for your sales. In addition you have a bank and cash summary. (If needed you can activate 3 additional bank accounts). All these pages interlink with each other and all the addition is done for you.
You can set up templates and hot keys for any payments you make regularly and for standing orders, these are then automatically entered when you start a week/month, this can cut the time it takes to do your accounts quite considerably.
Sales can be split into vat / non-vat and into up to 18 descriptive types, we try to make the program as versatile as we can so that you are in control of it and can make the entries the way it suits you. Expense payments can be grouped in up to 20 different headings all of which will be itemised on the profit and loss account.
If you are registered for VAT the program covers all the small retailer vat schemes and even tells you what to put in each box on the vat return.
All the vat bands are covered and more are available if required. If you use a vat scheme that needs re-sale figures this is also taken care of by the program.
At any time you can produce a ‘Profit and Loss’ account on either the years work to date or a selective period, you can even get a weekly/monthly average of all your expenses/income.
The ‘Cash Accounting’ method of accounting is the main method used by the program but if you use the method of accounting that allows you to claim the vat on an invoice before payment then the program can easily be set to this and will keep a note of your invoice, claim the vat and then allow you to transfer it to the main account when paid.
Submit VAT returns or a VAT 101 online to H.M.R.C.
- Weekly or monthly accounts (and VAT).
- Up to 199 expense and 199 stock entries per week.
- A Cash account and up to 4 Bank accounts.
- Multiple VAT bands (up to 6).
- 30 Expense types and 30 ‘Hot keys’ (customisable).
- 20 Sales types (customisable).
- Powerful templates to reduce stock/expense entry typing.
- VAT schemes can be changed to compare VAT figures.
- Hot Keys to quicken entry (can be used to check supplier spending).
- Profit and loss for any period (figures editable – for ‘what if’ scenarios).
- Can access (and edit) old account years after starting a new year.
- Bank statement checker.
- Very customisable.
- Password protection (optional).
- Multiple reports and options available.
- 6 commission (service) sales types.
- File VAT figures on-line to the HMRC.