- Online System. This means you may access the system 24-hours per day, 7 day a week, 365 days per year for any location in the world with web access. It also means no software setup. Once you register as a user and pay for the first fiscal year, you are ready to start customizing your chart of accounts and making entries.
- How are transactions recorded? Transactions are recorded through concise online forms--(a) for income, (b) for expenses, (c) to enter the beginning amounts for balance sheets items, and (c) for journal entries. Please explore the site demo which allows you enter transactions through these forms.
- Data Storage. We store user data files for 2 years after the close of the fiscal year to which they pertain. For example, all data files for the fiscal year ended 12-31-2003 shall be held in our system until 12-31-2005. At any time before that date, a user may download a copy of all financial statements and reports pertinent to that year as well as the data file for all recorded transactions.
- What sorts of businesses are best suited to use of this system? Service businesses and those that do not possesses large quantities of inventory are best suited to this system. The system will handle inventory entries but is specifically designed to manage and account for inventory. If, for example, you are running a home business and selling products on eBay this system will work for you.
- Financial Statement Creation. The system tabulates the entries a user has made in seconds and creates financial statements or reports on the fly as you request them. The only caveat is that the income statement must be create prior to the balance sheet (in order to carry any net income, or loss, for the current year to retained earnings).
- Downloading Financial Statements or Reports. Financial statements and reports may be download from the system (or received via email) in any of the following formats: (a) Word 2000, (b) PDF, or (c) HMTL.
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- Modifying Chart of Accounts. Every accounting system uses a chart of account codes to classify and track all transactions. We provide a standard chart of account codes which is the system default; however, each user may modify these codes so long as the account types are kept within certain ranges (i.e., 60000 to 99999 for expenses).
- What technical assistance is available. Technical assistance for paying users is free via email. We promise to respond to all of your emails within 24 hours of receipt 7 days per week (holidays included). Please note that "technical assistance" does not include the response to purely accounting questions.
- What statements or reports are created with the system? General Ledger, Income Statement, Balance Sheet are the standard statements or reports available; however, you may request that the system create certain customized reports such as all entries in a specified account during a period of your choosing or all payments to specified vendor.
- What won't the system do? Currently, TurboBooks.biz will not create invoices nor print paper checks. Also, please be advised that we do not send hard copies of financial statements or reports to users. The user must be able to either download or receive via email all documents.
- Price.
$34.99 per fiscal year per company up to 1000 transactions ($10 for each additional 1000 transactions). Not sure how many transactions you have? A good start is to look at your check for last year. How many checks did you write? If you keep your books on the cash basis (which is almost all small businesses except those which have inventory), the number of checks equals all transactions for expenses. Add to that the transactions for receipts and you have total yearly transactions.
- The Demo. If you have bothered to read this far, you should click over to the online demo and kick the tires of the system.
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