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Advice for managing accounts for start up business

  • 19-11-2020 12:25pm
    Registered Users Posts: 8 ✭✭✭ 40115954

    Hi All

    I am a Chartered Accountant with 3 years experience in audit and 3 years in a multinational.

    My brother is a structural engineer with 15 years experience and has started up his own company as he has been inundated with requests from people to complete small projects. As of yet he has not completed any work for the company.

    He would like me to look after the accounting side of things for him when he does start. I have the below questions for someone who will have more experience than me in starting up a business.

    - What is the opinion on best cloud accounting software to use for a small Irish company starting up e.g xero, surf, Quickbooks etc.
    - Which software can handle producing financial statements in Irish
    -Anything else I should be looking out for I am fairly up to date on the tax,CRO filing requirements etc but again my main question is which is the best option in terms of software for me to use to keep track of all this.

    Thanks in advance


  • Xero or surf probably is your best bet in terms of cloud software.

    But none of these will produce financial statements.
    For just one company probably best to use a word document template.

    Very few disclosure requirements required for micro company’s anymore