I own a small business and am currently using quickbooks, however I don’t really make enough to justify the price I am paying for it. I did have a deal for roughly 3 months which made it cheap, however the price has gone up now.
I was wondering if anyone knows of any self hosted applications that support business like tracking. Would something like firefly work for this? I am not really needing budgeting.
I use Firefly for business and personal finance purposes. I do my books nightly via a script that imports line items from the sales platform I use. Firefly’s automation allows easy tag/category assignment based on any number of details (source/destination account, transaction description, etc.) A tag in my case is just “business name” (personal expenses have no tag), and categories are expense types. At the end of the tax period I can generate a report that I copy-paste into my tax software. So far all of my numbers have lined up perfectly across the board, but I also balance accounts by hand to make sure. Biggest problem is backing it all up and testing the backup. I backup the database nightly and test the latest backup every 2 weeks, at which point it goes to the cloud. I need to automate that.
The developer is also very active and there’s regular releases.
Does Firefly allow double entry accounting style? I would definitely try to keep the way I keep track of things in a manner that is easily transferable to an account if things pick up or I need help with something.
Yup, it’s double entry.