The OpenSource Accounting Tools We Use: KmyMoney & InvoiceNinja
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- Опубликовано: 22 авг 2024
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KMyMoney 4.7.2 Overview, Import and reconcile tutorial
• KMyMoney 4.7.2 Overvie...
InvoiceNinja Open Source Invoicing, Payment & CRM Review and Tutorial
• InvoiceNinja Open Sour...
“I’m not an accountant”, “I’m not *your* accountant”. Hahaha, best disclaimer ever.
Thanks Tom. Planning to start my own business and want to use open source software as much as possible so it is good to see it can be done in reality.
Definitely find it interesting. I do an invoice, like every 6 months, for a single side gig client. Usually small, web site maintenance sort of stuff. There’s no way I could justify all the monthly subscriptions of pretty much every piece of popular invoicing software.
I’m still using an app that’s almost a decade old, on my Mac, from a company that converted to subscriptions. I may be an edge case but every time I looked for a replacement I found all the same stuff. That would cost more than I make from the gig.
Definitely WAS useful, IS interesting, and Valuable information. Surpassed my expectations and time well spent in my book. Thanks for putting together!
Thank you Tom, good video. Gonna use for my small start-up company for sure!
This is useful info for me as I'm finding it difficult to justify the $75/mo QBO subscription for my very small but developing business. My one and only client is having to downsize due to the COVID-19 pandemic so I suspended her contract payments for a few months. Plus, I just don't have the patience to learn QBO sufficiently to use all of the features that I am paying for.
As an actual accountant, I think you're best off using a system that you understand and that works for you rather than deploying a "full featured" solution because it's a "full featured" solution. Many people can get away with a simple cash book style spreadsheet - which is effectively what was demonstrated in the video - where the principal advantage of electronic form over an actual paper book is making it easy for your accountant to import the data to a "full featured" system where they can prepare the proper reports and returns.
The KmyMoney process shown provides an additional benefit in that it helps ensure consistency of coding. That's a useful feature. Even if you don't code accurately, if it's consistent it's easier to fix.
With a small business the key element is keeping an eye on the money coming in and going out - and knowing when to expect each cash flow. Balance sheets and accrual based P&L is all fine and good but "cash is king"; and lots of people (C-suite execs!) don't understand the accrual based statements in any case.
As someone who's worked with accounting systems ranging from physical hand-entered cash books, PC accounting systems to full-blown ERP systems (SAP, D&B, Tech1) work with whatever works for you and which doesn't demand heaps of your time just to administer. Your job is business, not accounting.
Good luck.
@@dingokidneys Try Waveapps.com
I"m a startup MSP, and I ended up using Wave at waveapps.com
@@ITonOccasion If you're new to tracking finances and especially if you don't have experience with accounting software, I'd be cautious about going all in on a SaaS solution like Wave. If you find it's not actually a good fit, trying to get your data out of these systems in a way that you can import into another can be difficult. They also often have unique work flows which can be confusing initially and, when you become used to them, make transitioning to a new system more confusing than it needs to be.
For a real noob, I'd rather get them going on a spreadsheet - a simple cash book style layout - and probably an invoicing app like Tom outlined because it's easy to understand and it can lay down some core principles which then make transitioning to a more sophisticated accounting solution easier.
If you then want to move on to a basic accounting system, I'd rather go with a local software package like GnuCash or KMyMoney because they support industry standard import/export file formats, you have total control of your data, and your personal and business details are not being leveraged to sell stuff to you and others.
However, as I said earlier, use what works best for you. Different people understand and relate to things differently and if Wave works for you, that's great. I had a quick look at it (10 minutes or so) and it's got some nice features. There are also a few little traps for the unwary in there.
Be good friends with your accountant. I'm not selling accounting services here but most small businesses go down the tube within the first two years of operation. Often that's because they didn't know where they were financially at all times. Sometimes this is because the book-keeping just gets on top of them which is a shame because if it's set up properly - for you - it can really be easy and be a great help.
All the best.
Tom, good video. Would you be willing to share a sample of one of the spreadsheets that you mentioned?
I heard if the comment gets five likes you have to do it :)
My accountant told me to use Microsoft Paint for all of my accounting needs, is he correct?
LOL!!!
I just use MS paint for everything. 🙃
Thanks, very useful! I do appreciate the nerd company vibes (thinkpad, server rack in the background and cute bash sticker). I suddenly felt at home, maybe I should try this software. I came for more info about invoices though 😅 (I'm looking for something that'll collect company info for pro forma invoice and generate invoice and then do recurring invoices, since it's small marketing agency/freelancing, a lot of payments are monthly retainers) but accounting app sounds great too, I have to check these out. Subbed.
quickcrooks...... crookbooks..... crookedbooks..... etc etc etc.
Hey Love the Channel, I just purchased a synology to help out with some backup (the ds1618+) and was wondering if I could run invoice ninja on that. right now I'm working with the online software and paying the monthly subscription which is no big dead but I would love to have all of my invoices local instead of cloud based. I really love invoice ninja thanks again for turning me on to it. Harry
loved this video, thanks for sharing.
I am looking to move to invoice ninja but from what I seen it lakes a purchase order module do you use purchase orders and what software do you use for that?
Hi Tom,
First of all I want to thank you for the amazing job and detailed information which you share with as!
Could you please prepare video how we can install Ticketing System in Self Hosted version of Invoice Ninja. I guess that the way is the same for version installed via Softaculous.
Your help is highly appreciated, thak you in advance and I wish you have a great day!
Much rather switch to this. Than pay Freshbooks $30 a month forever.
Was curious if you're still using InvoiceNinja or if you've tried any other open source options. :)
I still use InvoiceNinja
This is dope !