Free Accounting Software + Tax Returns, BAS, Bookkeeping and Payroll from Free Accounting Pty Ltd

 

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Free Accounting Software Forums

Welcome to the Free Accounting Software public forums. Please select from the topics below or start a new topic.

Starting out

I am new to running my own business and have limited bookkeeping knowledge. I apologise for the simplistic question. I want to establish cash in bank (created via equity capital) and equity contributions of computers etc. made to the business. How do I establish these transactions/entries?

Difference Between Worksheets

what are the differences between cash worksheets & receivable, payable worksheets?

I want to enter the receipts of thing my business is buying. My confusion is, inside ether one of these headings I can put cash received or cash payment.

How can I split a complicated tax invoice total?

I have an invoice from my insurance broker that splits amounts into;
a)Base Premium = X
b)FSL = 0
c)Insurer Policy Charge = X
d)Insurer Total GST = 10% of a +c
e)Stamp Duty = X
f)Broker Fee = X
g)Broker Fee GST = 10 of F
h)Invoice Total = too much! :)

Am I right in thinking that I need to journal these amounts into their applicable accounts? I can't see a way of doing this in the accounts payable section unless I put the total sum into Insurance premiums and then manually adjust the GST.
Then, do I need to account for the stamp duty payment somewhere??

Delete Completed Bank Rec

Hi Glenn,
Thanks for this software, I was trying to build an access database however this is prefect for my requirements.

I hope you can help me out with a Bank Rec issue - I need to "delete" the rec that was done and redo it correctly, however I cannot find how I can do this. I have located the ungroup option and tried this but when completing the rec again I have multiple balances (offsetting so it nets to zero) but it looks messy.

Is there a way to completely delete the rec and re-perfom this correctly leaving only the correct entries, not multiple balances.
thanks in advance.

Journal entry at the start of a new business

Hi,
I have already entered some transactions but confused how to enter stat up capital could please help. For example start up $95000 out of this $80000 borrowed fund $15000 owner contribution. How do you enter this?
Thanks, Mos

Basic Bookkeeping Training Workshop

I am running a bookkeeping workshop for small business owners.

It is on this Friday, 23 August 2013 at 10:00 am at the Blacktown BEC.

The presentation will cover the basics of bookkeeping and financial management for small business owners. I will demonstrate basic bookkeeping tasks using Free Accounting Software. Participants will learn how to set up and maintain bookkeeping records for their business and how to prepare and lodge their BAS and make sure that it is correct.

To register go to http://www.stickytickets.com.au/11985/basic_bookkeeping_for_business_owners_blacktown.aspx

or call the BEC on (02) 9011 6812.

Bank Rec

Hi Glen,

I have a customer who regularly pays the incorrect amount on their invoices, either more or less. How can i apply a different amount to the invoice payment when reconciling.


thanks in advance

Jodie

Bank Rec error

Hi Glen
For some reason when I entered the opening balance for the bank account being the 30/06/2012 it keeps coming up with this error:
Error: trying to add entry with postingDate 2012-06-30 but entriesClosedToDate is 2012-06-30
What am I doing incorrectly? Thanks Victor.

Activity Statements & Super

How do I enter my Activity Statements manually? Ones I lodge and pay PAYG Activity Statements to the ATO, what kind of entry do I need to do to move these from Liabilities into expenses as paid? Same with Super. How do I record the actual payment to a Super fund? Thank you, Pavel

User Access

When I granted access to another user I was unable to provide them with any access levels. I might want a user to be able to create payable entries but not the bank entries etc.

GST applicable or not for cash payments?

If I make a cash payment, do I put down GST applicable or not, since I am technically paying GST but indirectly.

Many thanks!

Customer Statement

Is it possible to create a customer statement showing outstanding invoices?

Invoice Template for NON GST Registered Sole Trader.

Hi Glen
I am setting up the Sales Invoice and the basic layout appears fine but I as I am not registered for GST I was wondering whether you had a template already for something like this. Also where do I adjust the header so that the it says "Invoice" instead of "Tax Invoice" or have I been given bad advice.

Many Thanks

Dave Stergo

Email Invoices & Receipts to multiple email addresses?

I want to email Invoices & Receipts to more than one email address, however when I add the second "To" email address, I get a "Returned mail" informing me that...

----- The following addresses had permanent fatal errors -----
admin@***.***.au; trish@***.***.au
(* substituted for the real address)

I used a semicolon to separate the individual email addresses.

Is this the right way to do it?
Is it possible to do this?

General Comment On Invoice

Needing to add a general comment to the body of the invoice- How can i add a general comment to the body of the invoice?? I have tried to add a general comment with the amount column being ZERO but it wont save the entry to show on the invoice? Please help

INVOICE LINES

Hi Glen,

how many key strokes do you get per line ?, as I had a detailed invoice and only a couple of lines showed up on the PDF

Measurables

I'm trying to get my head around how Measurables can be used for both payroll earnings types and also for inventory but there's nothing at all in the manual about how these are meant to be configured. Any help on how these are meant to be used?

Credit Note / Debit Note

How we post the CN/DN inside the account?
it's using receivable worksheet/ payable worksheet?

CRM integration?

Can I import data from my CRM system or my database to create invoice and manage my receivable?

Prior Year Accounts

If this year is 2012. Can I do the year 2010 account?

Bank Accounts

There only appears to be allowance for one bank account (or have I missed something). I am dealing with 4 separate bank accounts or divisions within one main account. Is this possible ?

Hierachy in the Chart of accounts

I may be trying to overcomplicate the system. However I am used to a chart of accounts being set up in a hierachy which facilitates reports.

EG 4-5000 Income
4-5001 Men's Shed
4-5100 Membership
4-5200 Donations
4-5300 Event Income

4-6000 Play Group
4-6100 Subscriptions
4-6200 Sales

And so on, without this distinction I'm puzzled how the income from various organisations can be reported seperately and in a similar manner expenses.

Your advice would be appreciated as it didn't seem to be included in any of the video's or the manual

Divisions

If I have two divisions, how do I just work in and view one?

Bank Account transactions questions

Hello, and sorry in advance about asking questions that may have already been asked.

I have been working with the software for a while and it is great! I have been working exclusively with cash, but now gearing up to use the business bank account as well for payments and expenses.

My questions are as follow:
1) where do I enter my opening bank statement balance.
2) how should I write down direct debit? is it still consider under "cash"?
3) same question if someone deposit payment directly to my account. do I still do the receipt under "cash"?
4) How do I write down debit card transactions?

Thank you in advance, and keep up with the good work!

cash worksheet QUESTION....

How do I show my 'cash worksheet' transactions FROM a certain date TO a certain date. I want to see them Month-by-Month. - Not 'AS AT' date, where it shows every transaction up to that date.

Thanks in advance

Entering sales items ex gst

Great app by the way, getting use to it quickly now. Just another question, can I enter a sale ex gst and get it to calc accordingly ?
e.g. I enter sale item value of 100, application fills in gst of 10, and total of 110

Data exports, XBRLGL file export, Report exports

Hello Glen. I'm wondering if there is a way that I can easily view my exported XBRL General Ledger files?

Thanks,
Guy

PAYG shows as GST on customer tax invoice pdf

Hi looks really good, just started to use this but I am unsure about the taxes. I have set up my PAYG tax and put NA in all the fields but it still show the tax as GST on all the customer pdf tax/invoice. Since I am not registered for GST is it ok to give my customers an invoice which declares I have collected GST from them and if not how do I set it to calculate my 3 monthly PAYG without it appearing on my customers invoices, Thanks James

Login username

Hi Glen,
How do I change my Login username?
Thanks
Bianca

Logging in

Can I log-in from my iPhone of iPad?

Custom Invoice Template

My name is Bianca and I am new to this software.

I may have overlooked, but I couldn't find a video on how to create your own credit sales invoice?

I would like to create a customised invoice; adding my logo and also payment details for my clients. Where and what fields do I enter the payment details? My clients can pay directly into my bank account and also via PayPal.

Your guidance is highly valued and appreciated.

Kind regards
Bianca

GST on Balance Sheet

Hi Glen, When you pay the ATO GST it doesn't reduce the balance of the GST on the Balance Sheet. Is there anyway of doing that?

Unrealised Capital Gain / (loss)

Thanks for the great service. I was just wondering if you had any suggestions on how to best account for unrealised gains and losses on investments from month to month?

Thanks.

Profit & loss on cash received

Is it possible to do a profit & loss on cash received instead of credit sales?

Payroll

Hi Glen,

Been using the software and loving it...

Quick question: what's the best way to handle payroll payments?

Thanks.

Sub-contract work - income category?

This is probably a really stupid question, but here goes:

I run a photography studio. Most of our income is from sales direct from the customer. However occasionally we sub-contract to other studios. What category should I put this cash payment in? Is it still sales revenue?

Cheers, Rebecca

Accounting for Stock

When I'm setting up the accounts, what do I use for Stock purchased? Is it an Asset? Is it Equity? Not sure where to put it.

Payment of Invoices

I've just opened a retail shop and found this site. I've set myself up and so far so good. However, when I receive an invoice from a supplier, where do I put it so that it matches my payments

More than one bank account

How to add bank accounts? If you have one cheque account and one savings account, how to set this up?

Tax Codes

What tax code should I use when doing a cash payment for drawings? is it GST Not Applicable

Tax Setup and opening bank balance

Hi Glen,

I am not registered for GST so I clicked on the GST to be Not Applicable. I then read that I need to have this setup anyway. How do I set up the new tax codes? I went into the taxes section to create a new tax but I don't really know what I need to do? I am a brand new business and would also like to know how to enter my opening bank balance and bank loan balance?

Thanks,

Maree

Printing Profit and Loss and Balance Sheet

Hi Glen,

Can we print or export our profit & loss statements?

Regards
Matt

Importing Data into Free Accounting Software

Hi Glen,

I have exported a stack of data out of Xero to csv, and want to import all to FAS. Is there a template of how i should set up all the info to import?

Eftpos entries and Undeposited funds account

I currently use MYOB first edge. I am a psychotherapist and I am paid at the end of each session by cash or debit/credit card.
So that my bookkeeper can more easily keep track of my eftpos transactions, when I enter the sales into myob, I put them into an account called undeposited funds. Then at the end of each day I prepare a bank deposit in myob which totals the eftpos takings for the day and puts them into my business bank account in myob. This means the eftpos deposits shown in my bank statements match my eftpos deposits into my bank account in myob.
My question is; is there a way I can do this in Free Accounting Software?

Importing Bank Statements

I would like to see importing of bank statements

thanks

Pay Pal payment

Hi Glen
My question today is and I think this one will make me look like the total newbie I am. What is a simple way of entering a Pay Pal payment? Do I just put in the net amount and forget about the Pay Pal fee for the transaction. Also do I also need to separate out the postage charge that was part of the payment?
Dave

Bank Reconciliation

I was wondering if there was the facility for the banking side of things in your program. I cant seem to find anything that will allow me to record deposits or do a bank rec.

Purchase Orders

PDF Template for Credit Purchases and Cash Payments

Hi Glen

I would like to use this software to email a purchase order (to consolidate everything in order to not double handle)

My original thoughts were to create a "Credit purchase" then when the goods arrive I can make a "Cash Payment"

How ever I am not GST registered (so my tax description is No GST Applicable) yet the companies I purchase my goods from are GST registered so the purchase order needs to show the GST component.

Any ideas how I can show the GST on the "Credit Purchase" in order to email it as a purchase order but have no GST applicable when it comes to making the cash payment?

Cheers for your help
Stacey

Opening Balances & Prior period balances

How do I enter last financial year's comparative balances?
And if I start to use Free Accounting Software in Oct, how do I enter the Balances from the Trial Balance from the Sept Qtr?

Cash Received Account Auto Complete

When entering Cash Receipts am presented with Capital and Expense accounts in the Account lookup combo box, in addition to Income accounts? Restricting to Income accounts may lead to less confusion.

Testimonials

If you are using Free Accounting Software please provide us a testimonial. I am planning on making some available on the home page so that new users can see them.

Feature Requests

We're always trying to improve Free Accounting Software. If you have any suggestions for us reply to this message.

Support Queries

For general support queries please start a new topic as it will help to keep the various subjects separate. That is unless it's directly related to a previous message.

Bugs?

If you think you have discovered a bug post it here or email support@freeaccounting.com.au
 

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