Cohousing-L Mailing List: Re: Accounting software for coho?

[Sharon Villines (sharon]

> On Oct 14, 2019, at 1:06 PM, Craig Wright <crw [at] crw.xyz> wrote:

> Does anyone have an accounting software suggestion? I am considering 
> Quickbooks Online but the price of entry is pretty high. However, if it makes 
> data entry, invoicing, and reporting easier, I think it would be worth it.

We have a management company that does ours, which I think is more work than 
doing it ourselves (personal opinion), but myself I found FreshBooks to be far 
superior to Quicken or Quickbooks. I would definitely recommend an online 
software, however, because then other community members, as authorized, can 
enter data, check data, etc. 

Freshbooks was designed about 10 (?) years ago? Maybe a bit longer, but 
recently enough not to have the problem of baggage necessary to keep old 
versions and customers happy. And sufficiently long ago that they have 
experience and have gotten any bugs worked out. It imports records from other 
accounting programs. Has excellent help files. Speaks Plain English. Very nice 
clean design. Full reporting capability. Enter the data and push a button. You 
can update reports as often as you like.

The only reason to use Quickbooks is if you work with a CPA who requires it. 
Some people love it but I have found it needlessly obtuse. But it’s been around 
a very long time so many people rely on it.

For understanding accounting, this article from Entrepreneur evaluates 
accounting information websites: 
https://www.entrepreneur.com/article/249673

Their first choice is one I have found very good, The Accounting Coach. Tons of 
information, great dictionary. 
https://www.accountingcoach.com

When you understand all the ins and outs, watching the figures can be lots of 
fun. Don’t despair!

Sharon
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org