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Will this do double entry?
My accountancy-minded co-founder would like to know whether Less Accountancy will do double entry. She says that only very small businesses (independent contractors) should account in the way it seems to be set up (cash accounting).
I was just checking whether we had missed the features for this in the app - general ledger/transactions/fixed assets. If not, how should we reflect depreciated assets in LessAcc'ing?
The concern at our end is that we can't otherwise write off assets (computers, etc) over time unless we do it outside of the accountancy software.
If this isn't something currently available, before we look elsewhere, is it something in the roadmap?
Thanks!
B
I was just checking whether we had missed the features for this in the app - general ledger/transactions/fixed assets. If not, how should we reflect depreciated assets in LessAcc'ing?
The concern at our end is that we can't otherwise write off assets (computers, etc) over time unless we do it outside of the accountancy software.
If this isn't something currently available, before we look elsewhere, is it something in the roadmap?
Thanks!
B
I’m hoping L.A. is not overly simplistic in order to be easy, but missing vital features for a serious business
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Inappropriate?Hey Ben, double entry accounting is an old practice from the times of paper back ledgers. Less Accounting isn't meant to take away your need of an accountant at the end of the year. But to provide a quick and painless system to keep your books up to date. Currently we do not track assets and depreciation. Why? Because you don't need to both with that stuff until tax time. We feel its more important to bring a product to market that focuses on your everyday accounting needs, making accounting quicker for you, giving you time to make money.
Also many "serious businesses" use LessAccounting, in fact currently we're tracking over a billion dollars thru our software.
I’m thankful
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Inappropriate?Hi Ben,
Although Less Accounting doesn't allow you to input your data twice, it is designed to pull the data from various directions in order to achieve the same goals as double entry. So if you use all the reports and all the numbers match, then your books are in good order. If the numbers don't match that means that you might have an error in your data.
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