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March 2nd, 2007, 03:17 PM #1Accounting Software To Use? Quickbooks?
I'm looking for some advice on what to use to track my accounting as an affiliate. My tax advisor recommends Quickbooks and that may work, but it seems to be set up for a more traditional business. For example, you have to setup "Customers" which I don't really have. I have the Networks (Linkshare, CJ, SAS, etc.) and individual merchants within those networks.
What is everyone using? For now, i'm just using Excel to track my cash flow and payments from each merchant.
Thanks for your help!
March 2nd, 2007, 03:34 PM #2
I asked my accountant the exact same question, including asking if Quickbooks would be good. (He uses quickbooks.) He said probably the best thing for me would be to just keep using Excel spreadsheets. It's cheaper and more flexible.-Don't criticize anyone til you've walked a mile in their shoes. Then when you do criticize them, you'll be a mile away and have their shoes.
- Silence is golden. Duct Tape is silver.
March 2nd, 2007, 03:40 PM #3
we use quickbooks on a cash basis, it works, just takes a little bit to set it up.
March 2nd, 2007, 03:44 PM #4
I personally think QB is a terrific application. It does take a bit of time to initially set everything up, but once you've done it, it's extremely easy to keep track of everything and prepare tax returns (clarification: I am not speaking as affiliate here; more as a merchant).
March 2nd, 2007, 10:15 PM #5
Consider MS Money Home and Busines or the Quicken Equivalent. And I say this as a long time quickbooks user. Since 1998 for IT Consulting business.
An an affiliate you are a marketing business. You business model is pretty simple. You don't invoice people for things, and you don't carry any inventory. More than likely you don't do payroll. Your expenses are pretty simple: Hosting, Domains, PPC, All kinds of advertising expenses, etc. This is my guess of a typical affiliate.
Quickbooks - any version - is overkill for most affiliate marketers.
March 2nd, 2007, 10:25 PM #6
Originally Posted by patrick24601
- Join Date
- January 17th, 2005
May 28th, 2008, 04:30 PM #7
QB definitely...go through the "pain" of setting it up for your affilate marketing endeavors, and then never look back.
May 28th, 2008, 04:35 PM #8
You don't need an accountant to set it up. Set it up yourself in any way that makes logical sense to you. Your accountant should be able to follow your logic if he/she is worth their salt.
May 28th, 2008, 04:43 PM #9Originally Posted by ReallyBigGuy
May 28th, 2008, 04:45 PM #10
It should be pretty easy. QB has built in company examples when you walk thought their wizard. Look for something called 'service company' or 'marketing/sales' company. You won't find an 'affiliate marketing' example and I'd be surprised if your accountant knew what that was. After that is set up you'll still probably have to set up some custom accounts.
I still say you are better of (as a marketer/publisher) using something easier than esp. if you are just going to be a sole-proprietor. JMO!
May 29th, 2008, 01:35 AM #11
- Join Date
- December 6th, 2006
We use QB.
It's very powerful, mild learning curve.
If you're an affiliate:
Set up sub-accounts under General Income for each of the networks/partners that generate most of your revenue so you can track it later on.
Set all the reports to Cash basis - there's no reason to be doing accrual in this business.
The beauty of QB is it's reporting - so when you grow and need to figure out exactly how much you spent on PPC, or which programs were your big earners, or most importantly your P &L and cashflow statements, it's all there ready.
I love it.
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