Comparison of WebBooks to other Accounting systems

WebBooks presents a new way of thinking of your finances. How do you currently prepare your books. Do you fastidiously collect receipts and check book stubs only to not remember what they were for when you sit down each week to 'do the books'? Or do you pay an accountant to do it for you? Those of you already using computer based systems are on the right track but we'd like to show you how easy and efficient your accounting tasks can be.
 

Cash Book Accounting vs. WebBooks
 

Cash Book

Here is a typical list of the tasks required when preparing a traditional cash book.

  Enter the: Date, Name of Payee and  Cheque number or Bank Statement number
  Total the amount of Payment
  Enter Payment in appropriate column
  Add up allocated amounts to Balance Total Amount
  Total every column on the page
  Cross total and balance with the Cheque Total
  Carry forward total to the top of the next page
  At end of each period transfer totals to a Summary Sheet (or Trial Balance) to enable financial statements to the prepared
  Every amount entered into the Total Column has to be ticked off to the Bank Statements to ensure all items have been entered in the Cashbook
  Adjust Cashbook for any errors
  Prepare Bank Reconciliation
  The above entries repeated for all Receipt transactions
  To prepare financial statements journal entries are prepared and posted to the Summary Sheet
  The Summary Sheet then has to be cross-totalled and totalled. Figures are then transferred to a Profit and Loss Statement and Balance Sheet
  All of the figures have to be considered separately for preparation of the BAS statement subject to how they were entered in the Cashbook (incl. or excl. GST). Separate summaries are required to prepare the BAS Statement.

TOTAL TIME... typically the better part of an evening if you're lucky!




Do your books this simply!


  Login
  Download your Bank Statements
  Select account from drop-down box
  Enter any Cash transactions with the Cash Facility
  You can then print Profit and Loss, Trial Balance, General Ledger, BAS Statement, Debtors report and even invoices at the touch of a button!

TOTAL TIME...
Typically under 15 mins

(Plus you are never out of balance!)

 

 



WebBooks provides an exponentially faster and more accurate solution to your accounting requirements. The low cost of our system ensures you will save on your accountants fees as well!

Ready to give WebBooks a go? Contact us now


Coming shortly...  vs. the other digital systems!