Can VAT registration mean less profit?

Indeed.

Apologies.

Teasing. When Quickbooks first came out we had a long look at it and were impressed with its ease of use but disturbed that it didn't seem to use double-entry, the flip-side of each posting going straight to Reserves.

I am sure all that has been sorted out and I will take your word for it that is is good. I don't like TAS or Sage anyway.

I don't recognise postings going straight to reserves - except the silly way it lets you give up on a bank reconciliation but still use the closing bank statement figure.

All of the accounts packages have problems and all of them update their programs but concentrate on cosmetic improvements at the expense of correcting problems.

Data input can be fast in QuickBooks as long as you consider what "names" and nominal ledger accounts you use in your system and are not seduced by the prompts it gives.

Peter Saxton from London snipped-for-privacy@petersaxton.co.uk

I'm sure it's sufficient but it may not be efficient depending on what you need to track and forecast.

If you only take cash over the counter and pay suppliers quickly a spreadsheet can be sufficient but as you need further levels of complexity you either sacrifice ease of access to information or efficient recording. Giving and receiving credit and holding stock makes things more difficult and wanting to forecast cash flow is not as easy when all the records are kept in spreadsheet format.

Peter Saxton from London snipped-for-privacy@petersaxton.co.uk

Most companies don't have sufficient controls to make any difference. You can always have the audit trail switched on.

Peter Saxton from London snipped-for-privacy@petersaxton.co.uk

Sorry Niel that Goldengun bloke is doing my head in.

I am not a competitor, not out to shop you or get you, merely checking you know the enormity of posts like these. You help people out when they ask questions, you clearly know what you are doing, if I have broadened your profile I am pleased, and if Graeme hasn't learnt something from this thread then he isn't concentrating.

Troy! Why are you bringing me into this discussion? I am just asking a few questions as it looks as though you purposefully used this as an excuse to bring this up again. I think a few people found it strange that you just posted this info "off the cuff" thats all. Neil is not worried, and nor is anybody else, so if you just stop posting his financial information then he won't keep getting concerned.

But who is "Graeme"?

You enter the discussion yet you ask why someone else is bringing you into the discussion?

Peter Saxton from London snipped-for-privacy@petersaxton.co.uk