DIY Accounting Limited Company Accounting Software

DIY Accounting produce Accounting Software forThe fixed asset schedule is preset with the capital
UK limited liability companies which consists ofallowance tax rates to automatically calculate
teamplates on excel spreadsheets, suitable forcapital allowances when fixed assets are entered.
any small limited company aimed at automatingDepreciation is also automatically calculated with
monthly profit and loss account and a set of finalpreset percentages that can be changed as
company accounts with balance sheet ready forrequired.
publication.The limited company corporation tax liability is also
As the whole small business accounting softwarecalculated automatically in such a way that all the
for a limited liability company is written on excelcalculations; additions and deductions are both
spreadsheets all bookkeeping transactions areautomated and visible. Capital allowances on both
visible. The excel spreadsheets have 12 monthlyexisting and new assets being shown on the
sheets in each work book. Prime data entry excelcorporation tax calculation.
spreadsheets being provided for sales, purchases,Accountancy Knowledge Required
cash, bank, savings account and credit cardThe limited liability company accounting software
account. Financial transactions such as sales oris based upon single entry of transactions requiring
expenses are then simply listed on theno accounting or bookkeeping knowledge. All the
appropriate months? sheet. And changes oraccounting knowledge required to perform the
errors can easily be rectified by simply deletingdouble entry of transactions which is a required
errorsa or entering new information. This simplefeature to produce a balance sheet has been
listing process is a huge advantage to nonautomated. The company accounts package has
accountants as no previous bookkeeping ora feature so that the previous years? figures
accountancy software knowledge is required.may be entered and lists of opening debtors and
Bank spreadsheets can be entered by listing thecreditors recorded. A minimal level of accounting
items that appear on the bank statement andknowledge is required to correctly list the closing
include a box to enter the statement balancedebtors and creditors and check the totals of
each month. The formulae within the excelthose lists agrees with the automated balances
spreadsheet then automatically checks that theshown on the company accounts balance sheet
entries made agree with the statement balanceVery Low Priced
producing effective bank reconciliation. A goodAt £15 the accounting software can save many
feature that ensures entries are recordedbusinesses exempt from a full audit the need to
accurately in the companies accounts.employ an accountant potentially saving hundreds
The simple bookkeeping entries that have beenof pounds in professional fees. Hundreds of small
made to the sales,purchases and the banklimited companies with up to 20 employees also
statement is automatically transferred to thepurchase the DIY Accounting Payroll Software
financial accounting file. In this file is a trial balancewhich is sold separately from £14.99 and fully
which actually automates all the double entryintegrates into the Financial Accounting Software.
accounting transactions. No entries are requiredOther Features
removing the need for users to have accountingThe product has a stock control feature to
experience. The Trial Balance is purely anmonitor any stock losses. The limited company
accounting solution, visible and contains an auditaccounting software contains a wages interface
check to again ensure the company accounts arethat fully integrates the DIY Accounting Payroll
accurate with no entries are required. The lack ofSoftware when those files are saved into the
entries in the area of accounting makes thesame folder as the accounting software files.
product an ideal package for companies requiringBeing written on excel spreadsheets all
a small business accounting software package.transactions are visible and capable of being
Within the financial accounting software file is anchanged by for example overwriting any errors
automated monthly profit and loss account toas opposed to a database system that requires
enable limited companies to track their financialnew transactions to be entered to reverse
performance and very important, the packageprevious entries. The sales and purchase
also produces a balanced profit and loss accountspreadsheets include columns for entering CIS tax
and Balance Sheet in the correct format fordeductions and payments and the certificate
submission of the final accounts. This set of finalnumbers. The CIS tax being then automatically
accounts automatically gathering the financialentered on the self assessment tax return. As
information from the basic entries made andthe small business accounting software is written
includes the statutory notes required for a set ofon excel spreadsheets then it is essential that
company accounts being published.users have a version of excel from 1998
The package is equally suitablke for both vat andonwards installed to use the program. The
non vat registered business with vat returnsaccounting software also works fine with an Open
produced at the touch of a button each quarter.Source spreadsheet package.
To produce a vat return clients simply go to theConclusion: to Buy or not to Buy
vat file and select the quarter end date from aExceptionally good value, very easy to use and
drop down menu and the figures for the vatproduces exactly what every small limited
return are automatically generated. The vatcompany requires in a small business accounting
calculations can be disabled by non vat registeredsoftware package, automated accounts requiring
small businesses by simply changing the standardno bookkeeping skills and no previous financial
vat rate from 17.5 to zero making the accountingaccountancy software experience with the
software suitable for both vat registered and nonvaluable end product of a fully automated final set
vat registered businesses.of accounts for the limited liability company.