I downloaded a free copy of VT Cashbook last week and started having a go putting through some transactions this morning. This is just so see how it works. It works very well putting payments and receipts through and I managed to put through an opening balance for the current account.
My qestion is this - how do you put through opening balances for debtors/creditors/stock? Also how do you account for sales/purchases on credit?
Is VT cashbook capable of this? Or as the name says is it purely for cash transactions? As it provides a balance sheet and profit and loss account surely there must be a way to account for more than just cash transactions.
VT Cashbook is a great freebie to give to clients but for any serious use as a bookkeeper you need at least VT Transaction+.
I use VT Accounts (which includes VTT+) even though I don't at the moment offer a full accounts service to clients as I want to see the data pushed through to it's ultimate form and VT Accounts (which is an Excel add on) not only produces a full set of accounts but the notes to the accounts let you know that everything is in correct place and being handled correctly.
I think that's espechially important whilst one is just getting to know VT Transaction+ as due to the journals heavy nature of the product it is very easy to mess up (but thankfully just as easy to sort out unlike some of the more expensive offerings).
Back to the original question. The idea of the cashbook is that the end user makes their day to day entries then passes this to the bookkeeper / accountant to apply adjustments with VT Transaction+ which has far more functionality.
Worth noting is that whilst VTT+ has a very good user manual it's not a course as such and there's a distinct lack of training books out there on VT (maybe I should write one!... Would definitely need Bill as a co-writer methinks).
Your best approach might be to download VT Accounts (which comes with VTT+ and VT Cashbook) and use it unrestricted for the next month. At the end of the trial period you may know the product enough to live without Accounts and just sign up for VTT+.
You won't however want to just keep the cashbook as that's just not good enough for what we need to use it for.
HTH,
kind regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I think that's espechially important whilst one is just getting to know VT Transaction+ as due to the journals heavy nature of the product it is very easy to mess up (but thankfully just as easy to sort out unlike some of the more expensive offerings).
I hate grammar police on forums but this one (in bold) has driven me nuts. I thought it was a typo before - mainly because the spelling on the other 2700+ posts is excellent. But it is appeared several times now. Why they extra "h" ?
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Never buy black socks from a normal shop. They shaft you every time.
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
The site doesn't have an automatic spellchecker so unlike when I'm writing in word things don't get underlined in red.
You say tye rest of the posts are excellent but if you took them out and pasted them into word you would find the bulk of the i's and e's the wrong way around.
No great problem with it as dyslexics tend to be able to see things with greater focus and clarity.
A few famous Dyslexics include :
Albert Einstein Leonardo DaVinci Winston Churchill John F Kennedy George Washington Richard Branson Frank Woolworth Henry Ford Walt Disney Alexander Graham Bell
That role of honour must make non Dyslexics jealous that they're not members of the club!
The big question that remains I suppose is, considering what it's all about, why do they make Dyslexia such a darn difficult word to spell? lol
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I was very foolish a few months back and downloaded VT Final Accounts on a free trial basis. This was before I really new what I was doing with the bookkeeping and therefore didn't use it. By the time I was ready to have a good go at it my free trial was up.
But nevermind, as I am hoping to start up in April I have decided to go ahead and buy it. I am waiting on my license number being emailed to me to start.
Think that's a scenario that many of us have been in! Did it myself with 12pay and moneysoft payroll but using a different machine and email address I did get them later when I really did want to try them out.
With the exception of no fixed asset register as such I can't fault VT software so sure that you've made an excellent choice there.
Don't forget to keep us all informed as to how things go with the startup (shame that you're going to miss the January madness but you'll hit that next year).
All the best,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Albert Einstein Leonardo DaVinci Winston Churchill John F Kennedy George Washington Richard Branson Frank Woolworth Henry Ford Walt Disney Alexander Graham Bell
That role of honour must make non Dyslexics jealous that they're not members of the club!
Interestingly most of this list are also left handed, coincidence?
Yes, I will miss the self assessments in January but maybe need a bit of time to settle into my new business. I'll be ready for them though the next year. I'm really looking forward to it but can't decide on a name for my business yet. Everything I think of is already being used.
Sorry. I wasn't aware. It stuck out like a sore thumb because 99.99% of the rest of your posts seem ok and it was the 4th or 5th time I've saw that one word. Maybe I'm spelling the same words wrong and don't notice them. I used to spell "business" wrong. I probably only started spelling it correctly after a spell check pointed out......and I think I started using a computer in 1994 (when I was 29). I suppose it's a bit unfair on you - other folk make many mistakes in one post and I don't point them out. You make a mistake with one word (in over 2700) and I point it out.
And I was going to point out that was your shortest post ever but was in a bit of a hurry to take my father to see mother in hospital.
Famous dyslexics list - reminds me of a joke I heard the other day.
When Alexander Graham Bell invented the telephone he found he had three missed calls from Dorin Goian.
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Never buy black socks from a normal shop. They shaft you every time.
Sheila (Semsley) really helped out by proof reading the website. The list of errors was as long as your arm but I could have stared at it until the cows came home and wouldn't have seen them! Besides this site I think that those are the only things that I go on without a spellchecker safety net.
Sorry to hear that your Moms in hospital.... Never know what to say when you hear something like that as so easy to say the wrong thing but just hope that everything turns out for the best for everyone.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
