I’ve been an independent consultant for more than 20 years. For the first 19 years, I built a custom web application to manage my accounting.
My primary motivation was cost. I didn’t want to pay an endless subscription fee, when I knew I could build one myself. So I put my PHP and MySQL coding skills to work and built a kick-ass system.
Then every once in a while, I needed to update the code according to the latest PHP version. Once I overhauled the UI. It was a pain, especially since I moved further and further away from programming.
About two years ago, I changed my company’s structure. This pivotal moment pushed me to finally get a proper accounting software app.
Since I invoice in multiple currencies (CAD, USD, and EURO), I needed a system that could manage this. I also wanted it to look and feel good, since accounting by its very nature is boring.
I ended up settling on Xero. It works well and I really appreciate being able to provide my accountant direct access. There was a minor learning curve, since I shifted from a custom-built web application, but it was well worth it.
Now I login to Xero every few days and process my expenses. It helps me keep on top of things, rather than wait until the end of the quarter and process dozens of transactions. I’ve noticed it’s better to spend minutes on a regular basis rather than spend hours on occasion.
BTW, the link Xero will give you 75% off for 6 months.
The takeaway
A good accounting system is worth its weight in gold. But like every app, it’s only as good as your process.