Key Features of MyBookkeepingManager Bookkeeping Software

MyBookkeepingManager is basic, easy-to-use, bookkeeping software for contractors and sole traders. Its main features are:

  • Great value - single one off payment - no subscription necessary.
  • Web-based (cloud) - you can be up and running in a few minutes.
  • Extremely easy to use, with integrated help on every screen.
  • Works with the VAT Flat Rate Scheme (FRS) if you need it to.
  • Gives you a detailed picture of the financial state of your business (eg corporation tax due, profit held in the company, etc) on a monthly bookkeeping spreadsheet.
  • Extensive financial reporting to assist with the preparation of company accounts.
  • Works whether you are inside or outside of IR35.
  • FREE upgrades so you always have the latest version of the software.

Very Brief History

The motivation to create MyBookkeepingManager came in 2007 when I, was looking for a simple, straightforward, bookkeeping application that would give me (as an IT contractor) the ability to record financial transactions and to generate data and reports that were useful to me.

I knew that I didn't need a fully-blown accounting package like some of the solutions available on the market because that would probably prove to be too powerful, complicated, and expensive for my needs. Having looked around for a while, I couldn't really find anything that suited me exactly, so I decided to develop a bookkeeping application for myself - and so MyBookkeepingManager was born.

Computing in the Cloud

Right from the start, MyBookkeepingManager was a web-based (or cloud, as we would say today) application. The main reason for this was that the only programming language I knew to any degree of usefulness back in 2007 was PHP, so that was the language I chose, and it just so happens that PHP is a scripting language that runs on a web server. So, by default, MyBookkeepingManager became a cloud software application.

The Modern Web - Internet Access Anytime, Anywhere

With the way that computing, and I suppose technology in general, have evolved over the past few years, I'm glad that MyBookkeepingManager is a cloud application. Long gone are the days when the only way you could use an application was to be sat at a computer. These days, people access web sites and applications from a whole host of devices, ranging from iPods and mobile phones, to tablets, to laptops, and yes, even desktop computers!

MyBookkeepingManager Bookkeeping Software Running on an iPod Touch, a Kindle Fire HD, and a laptop

MyBookkeepingManager running on an iPod Touch, a 7" Kindle Fire HD tablet, and a laptop

Due to its simple user interface, MyBookkeepingManager runs well on pretty much any web- enabled device that has a screen and the capability to run PHP / MySQL applications. The photo just to the left shows how it typically appears on an iPod Touch, a Kindle Fire HD tablet, and a laptop (not to scale).

Personally, I like to use the application on a my tablet (yes, that's mine in the photo) because that, for me, offers an ideal viewing area and I find the keyboard really easy to use.

I do use the software on my iPod (yes, that's mine in the photo), but normally only for viewing data because I find it fiddly entering text and numbers on such a small keyboard ... but I guess that's more to do with my age than anything else. And yes, I still use the software on a laptop or even a PC - from time to time. That really is the big advantage with cloud software applications - you can access them from any location with Internet access, and on any web-enabled device (within reason, of course).

When you buy MyBookkeepingManager you have access to both an online (web-based / cloud) version of the software and a downloadable version. Some people prefer to use the online version because of its convenience, while other people prefer to download and install the software on a webserver of their choice ... and remember ... you only pay once to get both solutions - there's no monthly subscription.

Simple Bookkeeping

MyBookkeepingManager is a simple, multi-user, bookkeeping software application, which concentrates on the monthly bookkeeping activities carried out by many micro businesses such as IT contractors and sole traders. In some ways, it can be thought of as a financial calculator on steroids, and in fact can be used as a calculator to give you a one-off set of figures for a particular month (or range of months) if that's all you want from it. In general though, to get the most out of the software you need to enter data every month from one year to the next.

Many IT contractors typically only produce a single invoice each month and then take a small salary out of the proceeds from that invoice. This leaves money in the company account that can (after corporation tax has been taken into account) be taken as a dividend or perhaps kept in the company as profit. You'll also need to know how much corporation tax is due and how much VAT you owe, for example, if you're working through the VAT Flat Rate Scheme (FRS). If you've clocked up any expenses you'll need to record those as well because they'll have an impact on dividends and corporation tax, etc. This is what MyBookkeepingManager is great at doing - enabling you to easily enter financial facts and figures and then spewing out useful information that will tell you what the current situation is with regard to your business' finances. Oh, and you if want to know what your retention rate is - ie how much of what you invoice actually ends up in your pocket - MyBookkeepingManager will work that out for you as well.

MyBookkeepingManager menu is always available when using the software

Using the software is really straightforward, with all functionality being accessible from a single menu across the top of the browser window. Context-sensitive help is also available to assist you along the way if you need it. There is also a good selection of user guides if you need more information. You can also contact us by email if you get stuck - we'll do our very best to help you out.

Simple One-Screen Data Entry

One of the problems I often find when trying out other accounting and bookkeeping software applications (you can read my reviews here) is that it is often necessary to enter financial data in different places, for example, invoice details on one page, expense details on another, etc. With MyBookkeepingManager, you enter pretty much everything on a single data entry page, and you can view all of the financial details for your business on another page. This helps to ensure that the application is very easy to use.

What if I don't need all the functionality?

It's quite possible that MyBookkeepingManager lets you record a lot of financial data that you just don't need. If this is the case, you can easily hide any data that is of no interest to you or your business. This enables you to customise the main financial spreadsheet, making it more targeted for your business.

Generate Reports to Pass onto Your Accountant

You are able to generate a large range of financial reports that can be printed or exported in comma separated value (csv) format. This allows you to import them into a spreadsheet package such as Microsoft Excel if you want to, or to pass them onto your accountant to help in the preparation of your end of year accounts.

Handling the Dreaded IR35

Ever since its announcement in the 1999 budget, IR35 has been a thorn in the side of many people working through their own small limited companies, often referred to as Personal Service Companies (PSCs) today. For the time being, IR35 is just one of those things we will have to live with, unfortunately. MyBookkeepingManager can be used whether you are inside or outside of IR35 - it makes no difference.