We find that QuickBooks is a cost-effective way for our clients to account for funds. A class is used for each funding stream. The reports are in columnar form and easy to read. Reports such as Budget v actual in total or by class are possible.It's a case of getting the right set up and training initially.
If regular management accounts are being prepared and there are lots of time consuming reversing journals then the Accountant's version is worth the investment as journals can be reversed into the new accounting period at the click of a button.
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We find that QuickBooks is a cost-effective way for our clients to account for funds. A class is used for each funding stream. The reports are in columnar form and easy to read. Reports such as Budget v actual in total or by class are possible.It's a case of getting the right set up and training initially.
If regular management accounts are being prepared and there are lots of time consuming reversing journals then the Accountant's version is worth the investment as journals can be reversed into the new accounting period at the click of a button.