Invoice Keeping

[Jared]

HI, Im a freelance 3d Artist/Animator and im wondering if anyone here uses or knows of a piece of software that can file all my invoices. Currently i just use a microsoft word template and have them in a folder, titled by there invoice number. Ideally I would like a piece of software that i can fill in all the details and keep it all on one program. I know there must be thousands of programs like this out there, im just struggling to find a good one.

Thanks

Jared

[Chang_paarp]

Any half way decient book-keeping software will track invoices recievables and costs for tax purposes.

Even M/S money

[p_brownstone]

HI, Im a freelance 3d Artist/Animator and im wondering if anyone here uses or knows of a piece of software that can file all my invoices. Currently i just use a microsoft word template and have them in a folder, titled by there invoice number. Ideally I would like a piece of software that i can fill in all the details and keep it all on one program. I know there must be thousands of programs like this out there, im just struggling to find a good one.

Thanks

Jared

Is your Company in Thailand and are you Registered for VAT. etc.?

If so you will have problems when the Revenue Department decides to Audit you for Tax – which, as a small Company, you can almost bet they will at least once every 5 years.

They will not accept any Accounting / Invoicing system which is based on Invoices produced by Word, Excel etc., since there is no way they can tell if you are producing – or rather, recording, every Invoice for Tax purposes. They will suspect that you are selling or giving Service and not reporting it in your Accounts.

And not just any old program will do either, you will need to use an Accounting Software system approved by the Revenue Department – any good Accounting / Audit firm will have a list.

Patrick

[migrant]

Here in the US I have many clients (I'm a CPA) on Quickbooks software by Intuit. Easy to use, invoices can be customized and logos added.

Does a good accounting job for small business and not too expensive

Don't know, per the prior post, if it is approved in Thailand, but it is the most popular here by far.

[Zen]

Oh dear, you mean for small private limited companies, the tax department won't accept invoices made from Excel? Even if we have the customer's name and address clearly written in the invoice?

[Erwin1011]

In a country where almost every small company keeps minimum 3 sets of books, (1 for tax, 1 for shareholders, 1 for the majority owner), you can imagine that the taxation authorities are very weary about the way you keep your books and the invoices you produce.

[p_brownstone]

Oh dear, you mean for small private limited companies, the tax department won't accept invoices made from Excel? Even if we have the customer's name and address clearly written in the invoice?

Yes that's correct, they will not accept these types of Invoice at all.

They have no way of knowing that you actually record every sale transaction in your Accounts if you use Word or Excel templates etc. because there is no control over the Invoice Numbering system.

A proper Accounting Software package assigns Invoice Numbers in sequence so you cannot create an Invoice and not have it recorded in the Software.

Patrick

[billaaa777]

As an individual with a Master Degree in Accounting, Certified Public Accountant, ten years of controller experience and a Professor of Accounting Information System I assure you all accounting information systems can be manipulated for the benefit of the user. Some ways invoices can be printed by a system but never be reflected in the financial statements are the following.

A) An invoice can be created and printed then be deleted from the system.

An invoice can be printed but never posted into the system.

C) An invoice can be created, printed and posted into the system, but then a credit memo can be issued for the invoice which in essence zeros out the invoice.

D) An invoice can be altered after it is printed but before it is posted.

E) Etc, Etc, Etc. never ending ways to do it.

The individual that suggested QuickBooks is correct. It is the most popular accounting information system in the world and it is also the most popular accounting information system in Thailand. It is designed for the novice and has a very good help section with easy to follow instruction. There is also a Thai version, created by a Thai programmer who just replaced the English language with the Thai language.

[Zen]

Normally I make the invoice by Excel then at the end of the month outsource all my invoices to an accounting firm to do the book keeping and accounting...This accounting firm uses Quickbook..

So, in this case, do I still have to get rid of my Excel and install an accounting software?

Is MYOB accepted in Thailand?

[billaaa777]

This is just a guess on my part. But, what I am almost sure the accounting firm is doing is taking you data from Excel and recording it in QuickBooks. In other words, they are just duplicating your work in another system. And of course they are charging you for it. Quickbooks is very easy to use and can be bought for 100 BHT in Thailand. The set up process will walk you through asking you questions along the way about your business. So, if all you’re doing is recording a few sales invoices in Excel and some expenses it would be very easy to learn Quickbooks and do it yourself.

Once you have the system set up you will then be able to produce your financial statements. Depending on the amount of paper you’re pushing on a monthly basis, your accounting and audit fees could drop. None the less, once the system is set up it will automatically produce financial statements and you will not need to wait to get them back from the accountant.

If you are using Excel for this process you should have no problem understand and utilizing Quickbooks. I am positive for the novice, Excel is a much more difficult program to learn and master. Where as Quickbooks is designed for the novice and provides very detailed instruction through out the process. If you are every confused about any thing, Quickbooks also has a very good help section.

And if you live in Pattaya, I can set it up for you and train on everything you need to know in a matter of hours.

This is just a guess on my part. But, what I am almost sure the accounting firm is doing is taking you data from Excel and recording it in QuickBooks. In other words, they are just duplicating your work in another system. And of course they are charging you for it. Quickbooks is very easy to use and can be bought for 100 BHT in Thailand. The set up process will walk you through asking you questions along the way about your business. So, if all you’re doing is recording a few sales invoices in Excel and some expenses it would be very easy to learn Quickbooks and do it yourself.

Once you have the system set up you will then be able to produce your financial statements. Depending on the amount of paper you’re pushing on a monthly basis, your accounting and audit fees could drop. None the less, once the system is set up it will automatically produce financial statements and you will not need to wait to get them back from the accountant.

If you are using Excel for this process you should have no problem understand and utilizing Quickbooks. I am positive for the novice, Excel is a much more difficult program to learn and master. Where as Quickbooks is designed for the novice and provides very detailed instruction through out the process. If you are every confused about any thing, Quickbooks also has a very good help section.

And if you live in Pattaya, I can set it up for you and train on everything you need to know in a matter of hours.

[migrant]

I'll second billaaa77.

I'm a CPA, also like billaaa77 I used to also teach in a university here in the states, and currently own a CPA firm in California.

I have a couple bookkeepers who go from client to client helping with quickbooks. I agree it is very easy to do your own invoices and produce a financial statement.

If you don't take billaaa77 up on his offer, I'll be in Hua Hin area fulltime in 5 years and also glad to help

You can also import your logo or get custom printed invoices if you wish.

Edited August 18, 2006 by migrant

[Zen]

Thanks alot guys.

I'm in Bangkok and business is still small at the moment..when things pick up I'll surely contact you guys

So I assume that since the accounting firm is duplicating my work, the tax department won't find fault with me since the invoices are input into Quickbooks.

[migrant]

Thanks alot guys.

I'm in Bangkok and business is still small at the moment..when things pick up I'll surely contact you guys

So I assume that since the accounting firm is duplicating my work, the tax department won't find fault with me since the invoices are input into Quickbooks.

I, for one, can't answer for sure, don't know the applicable Thai laws, but if the firm you use works with quickbooks, I would believe you are fine.

Maybe Sunbelt, one of the sponsers can answer for sure.

[Simmo]

Quickbooks is very easy to use and can be bought for 100 BHT in Thailand.

Certainly not a legal version. It costs around $90 US for the Small Business Edition.

[p_brownstone]

Thanks alot guys.

I'm in Bangkok and business is still small at the moment..when things pick up I'll surely contact you guys

So I assume that since the accounting firm is duplicating my work, the tax department won't find fault with me since the invoices are input into Quickbooks.

It is obvious that your Accounting firm is simply inputting the data from the Invoices you give them into the Accounting Software they use (whether they actually print out another Invoice is immaterial), however as I indicated previously there is still no way the Revenue Department can be sure that you pass all your Invoices onto the Accounting Company.

If the Invoices which you are presenting to your Clients are produced by Excel, they will be in a completely different format to those produced by an Accounting Software package – i.e. anyone with any accounting / computer knowledge seeing them will know they were produced in Excel.

If you are Audited by the Revenue Department and they go to the trouble of checking up on a couple of your Customers this will be apparent to them and you may be subject to significant fines and other penalties.

Patrick

( F.C.C.A., F. Inst. D. ......... since everyone is throwing qualifications around )

[billaaa777]

(F.C.C.A., F. Inst. D) I don’t know what that means, but maybe you could enlighten us.

You absolutely could be correct that there could be some kind of country specific regulation that requires the financial results of a company be stored in an accounting information system. Why, I have no idea. An audit trail or paper trail of a small business could just as easily be maintained in excel. But, none the less, you could be correct.

Where you are wrong, is you assumption that the format in excel would be different from QuickBooks or any accounting information system. Excel has enough tools to easily duplicate the vast majority of invoice templates utilized by the major systems available today. And it can easily duplicate anything done in QuickBooks.

[p_brownstone]

(F.C.C.A., F. Inst. D) I don’t know what that means, but maybe you could enlighten us.

F.C.C.A. – Fellow of the Association of Chartered and Certified Accountants

F. Inst. D. – Fellow of the Institute of Directors

Do try to keep up old chap.

You absolutely could be correct that there could be some kind of country specific regulation that requires the financial results of a company be stored in an accounting information system. Why, I have no idea. An audit trail or paper trail of a small business could just as easily be maintained in excel. But, none the less, you could be correct.

The OP is asking a question about Accounting in Thailand, surely if you do not have knowledge of the specific Country requirements it is inadvisable to Post opinion masquerading as fact.

Patrick

[Zen]

Another thing I noticed in Thailand is that people do not seem to welcome invoices printed on A4 papers by a laserjet or inkjet printer. They prefer the traditional way of printing the invoices on carbonised papers using dot-matrix printers. I understand that those people think it's easy to make fake invoice on A4 paper, that's why they're skeptical. But I hope it's not against the law to do so?

[Chang_paarp]

Another thing I noticed in Thailand is that people do not seem to welcome invoices printed on A4 papers by a laserjet or inkjet printer. They prefer the traditional way of printing the invoices on carbonised papers using dot-matrix printers. I understand that those people think it's easy to make fake invoice on A4 paper, that's why they're skeptical. But I hope it's not against the law to do so?

They are just jellous that you have laser printer, when they can only afford a dot matrix. The traditional way was handwritten on paper, with a carbon copy. Or am I showng my age?