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02-12-2005, 03:57 PM #1Web Hosting Guru
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- Mar 2001
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- 290
I user Modernbill, but what account software should I use?
I use modernbill, but what account software should I use for the back end, and for tax season.
What do people think about microsoft money small biz , does it allow you tokeep track of account and personal expenses?
Do you log each customer into this program from modernbill and each update the accounting software everytime they are invoied and make a payment etc?
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02-12-2005, 07:51 PM #2Invented the Internet
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- Feb 2001
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- West Michigan, USA
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First, talk to an accountant. Do NOT try to sort this out until you've received some solid advice from a certified accountant.
We use ModernBill for billing/invoicing/orders and then we use QuickBooks to record the total 'hosting income'.
--Tina||| 99.999% Uptime SLA!!!
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02-12-2005, 07:52 PM #3Web Hosting Master
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- Oct 2003
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- 654
Go for QuickBooks, its quick, easy and accountants love it at the end of the year!
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02-13-2005, 05:06 AM #4Web Hosting Master
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- Aug 2004
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- 952
Can we use quickbook wihtout any accounting knowledge at all?
Are you referring to the online version or the desktop?
Can you actually sync anything from Modern Bill to Quickbook?
Joshua
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02-13-2005, 08:27 AM #5Web Hosting Master
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- Aug 2001
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- Atlanta
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Originally posted by joshuayip
Can we use quickbook wihtout any accounting knowledge at all?
Are you referring to the online version or the desktop?
Can you actually sync anything from Modern Bill to Quickbook?
Joshua
2 - Either version will work fine.
3 - Supposedly someone is working on a solution to get data from MB > QB. But it's not that big a deal, just pull a report from MB once a month and make a journal entry in QB to record the gross hosting receivables.
Brandon
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02-13-2005, 11:02 AM #6Invented the Internet
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- Feb 2001
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- West Michigan, USA
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Originally posted by cbtrussell
1 - Sure, by why would you want to? It cost you far more in the long run if you don't invest a few hours with an accountant now. You'd be a FOOL not to.
2 - Either version will work fine.
3 - Supposedly someone is working on a solution to get data from MB > QB. But it's not that big a deal, just pull a report from MB once a month and make a journal entry in QB to record the gross hosting receivables.
Brandon
Very, very good advice.
--Tina||| 99.999% Uptime SLA!!!
Plenty of space and bandwidth to fit your needs!
www.AEIandYou.com - - (WP Friendly - Premium Reseller Hosting and Cheap Dedicated Servers)
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02-13-2005, 01:19 PM #7Web Hosting Evangelist
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- Aug 2002
- Location
- Arlington Heights, IL
- Posts
- 504
Hmmm... we have a "Hosting Revenue" customer in QB that we create invoices for whenever we receive payments. We do one abstract invoice for each day that we've received hosting payments for. We keep track of the type of items that were sold, etc., but we let ModernBill handle the receivables for hosting and only record the revenue when it comes in.
Does that sound similar to what you're doing, but you just do it on a monthly basis?
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03-04-2005, 12:06 AM #8Junior Guru
- Join Date
- Nov 2003
- Location
- New York
- Posts
- 175
Originally posted by cbtrussell
3 - Supposedly someone is working on a solution to get data from MB > QB. But it's not that big a deal, just pull a report from MB once a month and make a journal entry in QB to record the gross hosting receivables.
Brandon
I get the idea of the gross receivables, but I just don't know how to post it properly in QB. If I just drop in the full amount how do I split the deposit to show what is checks/cc/paypal...
Thanks for any help.
Regards,
Phil
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03-04-2005, 12:22 AM #9Web Hosting Master
- Join Date
- Jan 2002
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- 1,053
Originally posted by talkwebhosts
Go for QuickBooks, its quick, easy and accountants love it at the end of the year!