Quickbooks software

[srenee]

I just purchased the Quickbooks Pro software and started to set this up. But the huge manual I have and everything looks a bit overwelming. I do have SM3 as well but have only been using that for the recipes,etc. Any ideas or suggestions on setting QB up for a soapming business? Really need some guidence. Thanks.

 

[PrairieCraft]

I don't have a soaping business but I do run our two other businesses on QBs. When I started out the one thing I would have done differently is to set it up and play with it, entering transactions and figuring things out before you actually start using it. Three months in I had to scrap everything I had recorded because there were things entered wrong and start over putting every single transaction in again. I never read the manual. There are many features you'll never use.

 

[srenee]

Thank you. I'm sitting here now holding thisw manual..all 700 pages of it and looking blsnk. I did do the interview part of it. Now btrying to figure how to move on. I know it's a piece by piece thing. Just seemed a little overwhelming at the time.

 

[Rob K]

The thing about QB is that it is really geared for service and retail businesses - lawn care, small shops, etc. However most versions do not handle the manufacturing side at all - so you will have to track that part of your business separately, and then somehow combine the results.

Unfortunately for we soapmakers, that manufacturing side is about 80% of the accounting tasks. We ended up abandoning QB and just run our P&L and tax accounting manually as it took much less effort than trying to force it through QB.

 

[cthylla]

I haven't used Quickbooks in years, but most BIG software names have software demonstrations/videos either built into the help menu or available on their website.

These little tutorials are great for the visual learner...and probably focus on the few features of the software that you would actually need.

 

[srenee]

I was wondering about that. Not many options for soap supplies, etc.

 

[Lindy]

Actually any software for accounting is going to work. You are going to set up all your ingredients under "Cost of Goods Sold" and you can break that down further to Soap - Lotions - Hair Products etc. and then have matching sales accounts under the same names except they are revenue accounts. Set it up as more of a retail business because you are going to look at the P&L (Profit & Loss) statement monthly and you want it to show all ingredients purchased vs what you sold rather than trying to create entries for each product you make.

I have run QB and I too had to restart my books a couple of times. This time around I went with Simply Accounting because accountants like it better and after a couple of years I'm getting more confident on it....

Quick Books is a great program and very user friendly, at least it used to be.

 

[srenee]

Thank you that really helps. I was trying to figure out how to do all these ingredients, etc. I'll be doing a lot with it later today. Got to order supplies, etc.

 

[Lindy]

Sonya I'm glad to have been able to help you...

Cheers