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How do you track your expenses and do you use accounting software?

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Hello everybody.

For us, it is interesting to know how many of our users are using some accounting software.

E.g., in the UK, in order to pay VAT, our users should record all of their expenses. As Loyverse do not offer such features, but they do exist in accounting software (e.g., QuickBooks, Xero), we would like to know if our customers are using them, or if you don’t use such software, what other methods you use to record your expenses.

If you’re using Quickbooks/Xero, etc., it would also be good to know if you would like Loyverse to be integrated with that software.

Integration could be done in a way that Loyverse will send sales details to the accounting software for each transaction. And it will appear as a paid invoice in Quickbooks. Usually, an invoice is what the merchant issues to the buyer and a bill is what the merchant pays for his purchases. Quickbooks has both. Also, Loyverse could create a bill in Quickbooks automatically once you create a purchase order in Loyverse as "pending" status. But this is not all the bills that you might have. You could also get bills for rent, telephone, internet, etc. and those still will need to be created manually in Quickbooks. 

For now, if you’re using an accounting software, you probably can just create one invoice at the end of the month with one item called "Products sold" and just enter the total amount of sales recorded in Loyverse.

Quickbooks could also be useful for our users for reports such as Profit and Loss (where you can see all of your operating expenses, not only cost of goods sold), Balance sheet (where you can see how much customers owe you, your current inventory value and how much you owe to suppliers), and you can see more information on cash flow, such as paid and outstanding bills/invoices, your current bank account balance, etc.
 

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I use Quickbooks to register my sales, expenses, purchases, stocks and etc. it would be a lot easier if you guys can integrate Loyverse into it or vice versa.

 

thx

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I use Quickbooks, I record a daily sales receipt using the information from Loyverse but I have to do it manually each time, there is no way to submit multiple sales. As stated, it could be done monthly with a total sales and this would save time but I like to see daily information as it more accurately reflects the business for analysis. It would be great if this information could be posted automatically by Loyverse. I already use an app which reads my receipts and posts my expenses to Quickbooks. If Loyverse did the same my book keeping would be almost fully automated with only reconciliations to do. 

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I use a very user friendly software which is called MANAGER. It is what we might call Accounting software for nerds but very simple logic and it works fine with everything which a SME can expect from an accounting package. 

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Currently in Indonesia only businesses that has income USD 330.000 a year that will be required to submit a complete financial report for tax purposes. Below that, only required to submit the total amount of sales per month and the government will charge 1% out of sales.

But if the business getting bigger and reach USD 330.000 a year then the complete financial statement is required. Therefore I agree that Loyverse should have integrated accounting software to anticipate growing sales by the businesses in Indonesia. Having integrated accounting software will also ease the newly establish businesses in adopting Loyverse.

I myself will also use loyverse POS for my TOURISM and LAUNDRY business. I love this software.

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Hello, I use Excel to track my expenses & also for calculating  P/L Accounts.

Many thanks

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Hello everybody.

For us, it is interesting to know how many of our users are using some accounting software.

E.g., in the UK, in order to pay VAT, our users should record all of their expenses. As Loyverse do not offer such features, but they do exist in accounting software (e.g., QuickBooks, Xero), we would like to know if our customers are using them, or if you don’t use such software, what other methods you use to record your expenses.

If you’re using Quickbooks/Xero, etc., it would also be good to know if you would like Loyverse to be integrated with that software.

Integration could be done in a way that Loyverse will send sales details to the accounting software for each transaction. And it will appear as a paid invoice in Quickbooks. Usually, an invoice is what the merchant issues to the buyer and a bill is what the merchant pays for his purchases. Quickbooks has both. Also, Loyverse could create a bill in Quickbooks automatically once you create a purchase order in Loyverse as "pending" status. But this is not all the bills that you might have. You could also get bills for rent, telephone, internet, etc. and those still will need to be created manually in Quickbooks. 

For now, if you’re using an accounting software, you probably can just create one invoice at the end of the month with one item called "Products sold" and just enter the total amount of sales recorded in Loyverse.

Quickbooks could also be useful for our users for reports such as Profit and Loss report (where you can see all of your operating expenses, not only cost of goods sold), Balance sheet (where you can see how much customers owe you, your current inventory value and how much you owe to suppliers), and you can see more information on cash flow, such as paid and outstanding bills/invoices, your current bank account balance, etc.

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Hii..loyverse team

My Name is Andik and I come from Indonesia

There is one of accounting software that good enough and fit for the entrepreneur to use it and it's called jurnal simple online accounting, for more info and know about how is the software u can visit to www.jurnal.id and I looking forward you guys able to integration with them. Thanks a lot

 

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Our expenses are recorded in Xero.  We used Intuits Quick Books for 9 years, but found development slow.

We would love integration of Loyverse to Xero.  It would be very usefull if daily takings broken down could be automaticly recorded into Xero, to reduce manual entry errors.

Thanks

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I use Quickbooks, Excel and budget pulse. It would be nice if both software can be integrated or if you can study what other accounting software are lacking and solve those issues in your own software.

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I use QuickBooks.

I Loyverse could sync receipts, purchase orders and inventory with QuickBooks, I could take a holiday!

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Santo Inácio do Piauí - Brazil
June 15, 2018

Hi Alex
I use Excel and other software for control
How can this Loyverse software using Quickbooks / Xero, integrated?

Att.

José Pinto
Bomboniere

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Hi loyverse,

Glad for your care, so far I am not using any particular software for recording the expenses. Just using a simple excel sheet. Anyhow your recommendations for any software along with a guide will be very helpful. Also if it's possible for you guys to visit Qatar at anytime and support and train my staff, I am ready to do local marketing for loyverse and can open up a software support center here in Qatar. All this because I am really impressed with loyverse and very much interested in becoming a part of it.

Looking forward for a best positive response.

Saucy Restaurant (Owner)

Salman Sohail.

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I very much hope that loyverse can upgrade with the expenses feature in the software. It will be helpful since I only manually count per item everyday. I believe other merchants also will support it and totally agreed with the expenses feature. Thank you so much Loyverse!

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I am currently looking into starting to use Wave accounting system. It would really solidify my selection if Loyverse would integrate to Wave. 

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In Canada, harmonized sales tax (HST). I use Google Sheets - it’s free! Tried many times to download free trial of excel, but couldn’t figure out how to configure it for my business. I still record sales on paper too - I’m old fashioned that way. My business is retail, new age shop, will always be a small boutique style that will keep it’s intimate vibe. This shop is my passion and I am so greatful for all the help that companies and individuals out there have provided to keep small businesses alive. 

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I use Expensify to track my expenses at the moment because with Loyverse I don't need a full blown accounting package.

It would be great if I could have a place where I could compare the two sets of information (sales & expenses) so that I can look at trends. If there was a dashboard view on Loyverse which pulled in the expenses (in summary form) from Loyverse so that I could get an overview of how sales are truly progressing with expenses taken into account it would be very useful. 

Xero & Pastel are too big, bulky & expensive for me as a small business.

Would be lovely if there was some form of expense integration by summer season (October-ish) when business picks up again.

Great new feature set to to focus on!! Thanks

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First I want to thank you for this amazing POS System. It is truely flawless for our business. 

We have no accounting program only MS Excel for manual expense tracking and WinTax Pro for our payroll  

 

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I currently use Xero accounting and manually integrate with Loyverse and other POS applications that do not offer full or relevant integration. Ability to track inventory when integrated is very important in the process, Loyverse please take note. Thank you

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I use Quickbooks to do all my accounting (on a PC). I use SumUp for my card reader. I use android tablets (lenovo) for orders with your excellent POS software. 

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Anderson Motta using Loyverse - Brazil / SP - Perfume Store / Cosmetics

Dear,
I use the free MARKET UP software to control revenue and expenses. This same software is responsible for issuing invoices.
This free software is used by thousands of companies, it would be something smart to integrate the PDV Loyverse.

Regards,

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I record expenses manually. But I would look into one of these software now.

 

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My business is very small. We have not used any application to track our expenditures. We do it manually.  Thanks to Loyverse we can track our revenue. 

Bests

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We use a great software called Erply Books. We have created a "customer" for card payments, and create 1 invoice per day by shop. No need to have it more detailed for us.

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