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Trade Management Software/System
wolverine
post Posted: Oct 25 2010, 08:13 PM
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In Reply To: nebo's post @ Oct 25 2010, 06:47 PM

The other half uses Quickbooks but like you said it doesn't run the PF stuff.

GST is not a strong suit of Quicken personal but with split transactions it covers it fine. (ie creating a transaction and splitting it into its gst exclusive price + gst). One extra step but it runs my business fine.



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nebo
post Posted: Oct 25 2010, 06:47 PM
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In Reply To: mullokintyre's post @ Oct 25 2010, 03:13 PM

Yes Thanks, for starting the thread No Hoper.
I use Stator and Quicken home and business, in tandem ATM.
The quicken is ok, but tax is not a strong suit, as it is setup for sole traders only.
But they both only pay lip service to GST.
The big versions on MYOB and Quicken are quite unintuitive , (especially using inventory management) for sales and purchases of stock.
Ive found Stator good for the portfolio etc, but i want to find an accounting package that tracks an active portfolio, AND runs my business from as i waste too long at the desk
I assume Macquarie and all the broking houses have one, i wish for a SME version of this kind of thing.
Although I know such a beast probably dosent exist.
I was wondering what all the other SME's on this forum use.
Regards,
Nebo.

 
wolverine
post Posted: Oct 25 2010, 06:42 PM
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I use Quicken and I am wondering what accounting features does Nebo need that Quicken doesn't have even in its most basic form as Quicken personal?

It tracks your portfolio with online updates of end of day prices, tracks cost basis and spits out all the cap gains, investment income reports, tracking imputation credits, sharesplits etc etc etc

On the accounting side you can track income, expenses, assign them to tax categories pretty much everything is there except Quicken personal doesn't do things like payroll (something Quickbooks does do) ie something an SME would need.

It is easy to use and is more or less intuitive which was an issue for software like MYOB previously but I admit I am out of the loop with that nowadays.



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mullokintyre
post Posted: Oct 25 2010, 03:13 PM
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In Reply To: nohoper's post @ Oct 25 2010, 02:05 PM

Don't like your chances. If you are paying wages you are restricted yo MYOB and Quicken you need to be able to update tax tables, keep track of leave, record hours etc etc.
You have already discovered (as I did) that MYOB is useless for portfolio tracking. I use MYOB for my business accounting thats what its good at.

To keep track of trades you something like STEX portfolio manager. It is designed around trading, and will give you all the reports under the sun. I would be running separate systems - you could always update your MYOB or quicken quarterly with your portfolio information.

Mick



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nohoper
post Posted: Oct 25 2010, 02:05 PM
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Hi,

Can anyone help on this please? Nebo is a new member in Sharescene and has posted the following in WEF.

Thanks.

~~~~~~~~~~~~~~~

No idea where to put this, and white elephant seemed appropriate.
MYOB is a dud for my business / accounting so what do you traders use.
(I have sold one of my businesses, but still have one trading, so require accounting, rather than specific trading programme)
Have used two programmes side by side for 10 years but sick of it.
Anyone have any ideas,
The big boys in this space, MYOB and Quicken dont / wont do a combined package. (Investments + accounting)
Does anyone know of a system that does, as i still pay wages and run a conventional business for the foreseeable future,
but share trading is a larger proportion of turnover nowadays.
regards,

Nebo



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