Affordable, multi-currency small business/accounting software for dummies?
December 8, 2011 3:27 AM   Subscribe

Affordable, multi-currency small business/accounting software for dummies?

I am looking for accounting/book keeping software to manage my accounts. I am self-employed, and live in the UK. However, I need multi-currency friendly software as I bill and receive income in different currencies. I prepare my invoices separately because of client requirements, but invoice generation and tracking might be a nice to have. I use a Mac, but I do have a copy of Windows 7 if a Windows solution is best. I can export OFX files from bank.

I have never been very good at book keeping, and currently do everything manually tracking income and expenses for taxes on an excel chart. I would say that looking after finances is one of my weaker points, so I don't want a really complicated system. I have previously tried out iBank, Moneydance, FreshBooks and stopped using them for various reasons but would be willing to try again if they fit requirements. Prefer desktop based, not cloud or monthly fees.

Any suggestions appreciated. Budget: Up to 200 GBP?
posted by wingless_angel to Work & Money (6 answers total) 2 users marked this as a favorite
 
It might be easier to run separate books for each currency, and then credit your main account when you do the actual currency conversion.
posted by gjc at 4:37 AM on December 8, 2011


I haven't used it myself and you'll have to verify the multi-currency usage yourself but I've heard great things about crunch.co.uk - but it is cloud based... but that means you can try it for free for a while too...
posted by HopStopDon'tShop at 4:56 AM on December 8, 2011


Moneydance?
posted by devnull at 5:17 AM on December 8, 2011


It might be easier to run separate books for each currency, and then credit your main account when you do the actual currency conversion.

In that instance, any software that will run multiple books and one main account?

devnull - I just took another look at Moneydance, I can see immediately a problem in that the multicurrency feature may use a different conversion rate as my bank, so I'd have to keep going back and editing transactions.
posted by wingless_angel at 5:30 AM on December 8, 2011


It's cloud based, but I'm a big fan of Xero. It's multi-currency, mostly self-explanatory, and easy to look at.
posted by ceiba at 6:36 AM on December 8, 2011


I can see immediately a problem in that the multicurrency feature may use a different conversion rate as my bank, so I'd have to keep going back and editing transactions

Hmm, you wouldn't need to change exchange rates, it's called foreign exchange gain/loss and is an income statement line item.
posted by koahiatamadl at 12:44 PM on December 8, 2011


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