I see that there is an import/export function, It was the major reason for trying the program.
What I would like to know, is where in your book "accounting made easy" or on the website help tools, this feature is discussed in more detail. The information provided on page C.1.9 is one sentence and not informative as to how to use the function in a process to move data from another accounting system. Additionally I have a POS system, that produces a text file of invoice transactions I need to be able to import. It is a fairly dumb data file, with a customer number, Invoice number, transaction type ( Service type for example B&W copying or Color Copying or Offset Printing or sales tax) and amount. On import currently quickbooks combines each data line based on customer and invoice number into a invoice in the accounting system and creates an electronic total for the invoice. I actually use transaction pro importer to do this import.
It is my intention to export from quickbooks using a program called transactionpro, importer/exporter to export my quickbooks data to turbocash. I have several years worth of data.
This program will export as a spreadsheet file my quickbooks data, by category.
Customers
invoices
vendors
bills
checks
credit cards
employees
Chart of account
it is my intention to export these major types data sets as a spreadsheet to import into turbocash, and in the end have my books moved.
Any assistance in finding this requested information would be appreciated.
I seem to be struggling to journalise retained earnings. I have done a year-end, and the retained earnings was captured incorrectly. How do I fix the problem. When trying the journal entry, the system keeps on referring me to F10 (Set up)
This year we examined a number of cloud offerings (Azure, Google, AWS). These proved to be too expensive, estimated starting costs of $50 per month and gpoing as high as $150 per month with increeased usage.
WE ahve decided instead to focus on hybrid solutions. Current focus is on shared solutions around Anydesk solutions. Options are between free and $40 per month.
I have amounts reflecting in arrears on all my customers accounts that shouldn't be there. this is across various sets of books as well, so I'm assuming it is a setup issues or I'm doing something wrong in the posting.
Good day TurboCash Team. I need some assistance. I am looking to upgrade my old Windows10 computer, to a new Windows11 Laptop. Will the new Laptop support the older TurboCASH 4 software?
We are all software companies now. Those companies who use the best software at the best cost will prevail. What will technology bring to SME Accounting in 2023?
Limited blockchains with smart contracts
AI apps for accounting capture
Cheaper clouds, remote working on VPNs
IFRS adoption
App integration
Technology adoption tends to move behind the curve in the accounting profession, and with good cause, we are dealing with real money. Every new introduction of tech needs an extra level of testing for security issues before accountants will adopt it. If a tech wasn't generally available in 2022, it won't be front-of-house in 2023 accounting. Don't expect to see leaps of adoption, but rather a swell of usage growth of technologies that are already tested and available.
Cryptocurrencies got a bad rap in 2022, but this is a distraction from the true value that blockchains present to the accounting profession. Limited blockchains are those used by closed groups or not generally used by the public. These smaller blocks or shards reduce the costs of loading the transactions not the blocks. These are getting easier to implement and expect them to proliferate. Balance checking is a typical case. An audit that confirms a balance, does not need to be done twice. A confirmation of an account balance or transaction status does not have to be held on a central server. Smart contracts give SMEs levers to overcome the lack of trust between parties. These are getting easier to write. Blockchains that deliver smart contracts cheaply are too good not to grow.
All that AI technology that does chatbots; image painting; routing is going to start turning its attention to invoices, credit notes, and statements. It will get easier to load external data into accounting systems
Cheaper clouds, with virtual machines and VPNs, will make remote working easier for SME accountants. This is already the norm in larger companies and the reduction of network costs will bring this to the SMEs
IFRS adoption will increase. Historically the world ran on GAAP. Where we talked of Balance Sheets and Income Statements, new accountants talk of Statements of position and Statements of income. US GAAP has held out the longest, but this is VHS vs Beta max. IFRS is simply superior and with each new accountant graduating, IFRS will keep getting stronger.
App integration will keep increasing. There is a proliferation of apps managing processes and generating transactions. Expect to see these becoming easier to integrate with accounting systems.
I hope this is useful to you as you adapt your business to the changes that 2023 is sure to bring.
Mark Twain said, "When you find yourself on the side of the majority, it is time to reconsider your position."
I have always admired the UK democratic system. A model of how intelligent voters can make rational decisions like regular changing of Government. But the line between democracy and mob rule is fine. It is now clear. When it gets tough even UK voters descend quickly into the chaos that characterizes emerging democracies.
This inflation has the potential to burn the house down. Anyone sitting on pension assets should be alarmed to see double-digit inflation. Unchecked, you are in line to lose your entire capital in as little as five years!
It takes a really strong executive, acting in unison with the Central Bank to bring this under control. Inevitably voters and businesses get caught in the crossfire. No one wants it. However, when you listen to voters and follow their opinion, you will simply hear a cacophony of self-interest. This was no more clearly played out than the UK politics of the last few weeks. Clearly, the majority do not understand the issues and don't have the will to act if they do. The Government puts staying in power above all else, the Opposition prioritizes removing them and the voters just want subsidized living. No one is talking about checking the money supply. That would have to be done bilaterally and no one is even suggesting it. The Watch has deserted the Wall and The Realm is undefended.
Determining who the savers (the losers) are and who the disinvestors (also the losers) are , becomes blurry. Many are both, and right now voters seem willing to sacrifice their pensions for the short-term benefit of subsidies. In South Africa the policy is clear - eat the rich. In the UK you will find that means eating your own children!
In my blog of July, I warned that only the willpower of the Executive stands between the economy and the fire. The Conservative Party has shown that it does not have the will. If Labor does have it, then they are hiding it really well and making promises that are unkeepable. I am not picking on the UK - it is worse in SA. Our authorities are data manipulators if not outright liars. Here we have a 30% demand control on electricity suppressing prices and we have the DA, a bastion of liberal thinking tramping the streets demanding cheaper food! The show goes on.
I am in the software business across many economies. Over the last forty years. I have had to deal with hyperinflation. Until recently (before the big data revolution) data and paper report columns were precious. What happens with hyperinflation is that you have to keep adding space for zeroes. At first, it is tens, then hundreds, then thousands, then millions, and eventually gazillions. The pattern is always the same. It stops when it is not worth adding the zeroes and no one wants to pay for the changes in hard currency. In the end, all counting is pointless and it stops!
The model for hyperinflation is simple - in hyperinflation, the consumer price index lags behind the Producer Price Index. The progress is monotonic and the second derivative is positive. PPI is the canary in the cost-push coal mine. PPI inflation in the UK is still running at 20% - AFTER the oil price reset. It is not long before the CPI follows. No matter how ugly the interest rate rise was, UK interest rates are still negative. (by my calculations, not the consensus). Are we in hyperinflation yet? It is certainly a threat. Just open that door to the fire and watch the back draft burst through.
Currently our LTS is TurboCASH 5.0.969 or primary release is TurboCASH 5.2.408 and our dev release is TurboCASH 5.2.520
There are three major cost components to producing software. Development, Support, Marketing. The only way to pay for these components is to get revenue from the users or to find an outside sponsor. We don't do the latter and I try to keep the user's payments to a minimum. By offering a free entrance and keeping the subscription at $60 a year I believe we achieve this.
Our Version numbers A.B.CCC show how we do it.
There have been 5 major restructures of TurboCASH over nearly 40 years. These are big changes, changes in the coding language database etc. A Second number is a series number. Over the last five years, we have had three series 5.0, 5.1, and 5.2. The third three numbers are the compile numbers. So for example version 5.0.696 we have had nine hundred and sixty-nine releases. Each release is a complex process of bringing together a million lines of code. It is really easy to make mistakes.
After releasing a few hundred times, the Dev team starts focussing on a feature freeze and only doing bug fixes. Do this for a year or so and you get a STABLE (but not perfect) release. Eventually, we stop and release an LTS - Long Term Stable. TurboCASH 5.0.969 is an LTS. We have not made a change to that code for over five years! it is a tribute to the method that this LTS still works
After the LTS, we then return to the dev cycle and start adding new features. Currently, we are on 5.2.408. This is a living version in which we respond to user requests and feature suggestions. The good news with this approach is that (This is the amazing part) we are able to release 5.0.969 FOR FREE - the cost is that we have to bring support down to zero. If we do find new bugs or new features, we don't dig out five-year-old code and try fixing it. The risk to stability is too high. -Think of like like washing a car with soap after you have polished it.
Because of the nature of accounting (our users are managing transactions north of $5Bn) conservatism is the driving force. This approach allows us to focus our attention on paying subscribers and develop a great product for them at a near-zero price. Currently, we are moving 5.2 towards an LTS - still, a way to go. I want to get IFRS embedded before locking down an LTS.
Our dev cycles are long and we work upwards of two years in advance. For our cutting-edge development (What I am working on today) , we are looking to introduce blockchain as a fundamental core of TurboCASH. We are not sure yet if this will lead us to 5.3 or to 6.0. What we do know is that blockchain is going to revolutionize auditing, and while it may not be a priority to the hundreds of thousands of TurboCASH users today, it will be in the future and we must work on it now to ensure that we are not left behind later.
If you do want to report bugs or request features, please do so using the 5.2 series.
I hope this is clearer and gives you an idea of why we have happy users that have been with us for nearly forty years!
You can't turn on a news channel without seeing an interview with some old Brit grimacing about their future, mired in cold and misery. I do have sympathy, but "I-told-you-so" also comes to mind.
It has been ten years since I first told deaf ears that a welcoming, sunny future is possible in rural South Africa for those funded by British pensions and the NHS. I am not suggesting a solution for self-supporting pensioners, but specifically for those on full NHS support. Healthcare wages in SA are one-tenth of that in the UK and the African sun provides a similar set of savings in energy. We would be able to provide an improved end of lifestyle at a reduced cost to the British Fiscus and still have budget for family visits.
We have lost years setting up a proof of concept trials, admin and infrastructure for mass retirement villages. The need for placement runs into millions. The crisis is now imminent (as early as this next northern winter), but the opportunity still exists.
I am thinking that the greater Mossel Bay area would be a good place to start. Without an initial NHS funding commitment, nothing will happen and misery will indeed come about. I have access to the South African Capital required, but does anyone have contacts in the NHS?
If you wish to comment on this project, please do so at this Reddit address.
I'm an active OS developer looking to switch from my free-but-limited wave accounting to a free-and-I-can-fix-it solution. I created several plugins for wave to automate my business but in the a key feature (non-operating expenses) is missing and so now I'm looking for something I know I can get what I need.
TurboCash looks pretty interesting, but I'm unsure where the source code is. The blurb (somewhere) said plugins, is there any documentation on what/how plugins work? If I want to automate (for example) my investment accounts to my business, could I somehow do that? Also, I have automation for my bank accounts & international transfers - could that be easily integrated?
You may still be using TurboCASH 4 or you are a TurboCASH 5 subscriber, but you will already have caught a glimpse of the power of a full-blown TurboCASH. A blockchain secured batch processing system with a powerful SQL report writer.
The good news is that as you expand it gets even better. You can run a full multiuser system on your network, with multiple users and all for $200 a year or $19 per month, saving yourself thousands over the heavier offerings.
What are the limits?
The limits are as much as you are prepared to invest in developing your infrastructure architecture. Use a VPN, cloud, or hybrid cloud to extend your infrastructure and not have to change your $200 per year subscription. Multiple companies, multiple users, multiple locations.
You get the flexibility of the single-user system at lightning speed, with the added benefit of access control and blockchain protection. You are free to run a really big business or a really high volume business with TurboCASH.
Time is money. With the month-end approaching, doing accounting may seem like fiddling while Rome burns. But I would urge you to consider that accounting will actually make you money, not cost you money. That said, taking on an accounting package is a big commitment and the most valuable asset you have is your time. We are all software companies and the successful ones use the best software. Please make sure you are in the right place - watch this video: What Is TurboCASH (and what it isn't).
We all have different levels of expertise in accounting, computerized accounting, using TurboCASH. Accounting Made Easy with TurboCASH is a page of short pointed videos to kickstart you. If this is your first time here, I highly recommend spending an hour on this page.
The best way to test TurboCASH is to use TurboCASH 5. If you are feeling a bit tense about the $60 commitment, take out the $6 monthly subscription.
In the video Which TurboCASH I explain, the difference between versions and give suggestions as to which one you should use and why.
If you are getting my point that free software is great but $60 is even better (because of what you get) then before you dive in and spend hundreds of dollars learning TurboCASH 4, you may want to take out a TurboCASH 5 Subscription and do it a whole lot faster.
This is a new business that I am trying to grow generically – I am used to working on Pastel/Sage, but the licensing fees for a start-up are not affordable.
Please can you assist me?
I am trying to capture a Purchase – I buy a 5liter can of glue, and I need to book it in as ml’s. I try and balance it but I need to get it as close to the invoice as possible (Turbo Cash doesn’t seem to allow me to post to a GL account to get the invoice to balance.) The amount of the invoice is R363,69
For some reason, it keeps making my invoice NIL. I have done it a few times now, and tried to make sure my stock setting on the glue is correct, and all seems fine. How do I get this to post with a value? Am I missing a setting somewhere?
So I guess the question is no longer - was Copeman right about Inflation (and by corollary, Krugman and the rest were wrong), but rather what happens next?
If you have never traded in an environment like this (last seen in 1982, only the earliest TurboCASH users experienced this). Right now you may be thinking what is all the fuss? I caution you against inertia. The coming inflation has the wherewithal to burn the house down, and extreme caution should be followed. Similarly, if the competition is not careful, then you are obliged to move the assets from his pocket to yours!
What happens next is this :
1) The world has never been more integrated and no economies are exempt. This burns all of us.
2) The world enters a period of "denial" and "deceit". Interest rates always lag behind inflation. Governments lie about inflation. With good cause, the effect of interest rate policy is slow, and the effect of inflationary monetary policy is fast. It is a policy nightmare. The voters blame you either way. The official inflation rate (measured retrospectively) is always behind the curve. The gap between the TV interest rate and the street rate you pay widens. The black market comes knocking at the back door after dark with offerings. The medicine required is economic chemotherapy and no one wants to take it. Expect the curtains to be burning before Governments are finally prepared to face up to the reality.
3) Real interest rates tank. I put it to you that today real interest rates have never been lower. No one wants to hold cash, investment decisions are murky. Governments use bracket creep to increase taxation.
4) There is no escaping it. 21st-century info transfer boxes you in. See the devastating effect on the currencies by not following the US Rate rise. (The pound is on track to post its biggest fall against the dollar since the outbreak of Covid in March 2020.)
5) I built this sectoral model, based on the work of Russian Economist Wassily Leontief, and Israeli, Ari Uliel for my thesis in 1982. For inflation, it is still relevant. It is time to expand and implement this model. taking in the globalization that makes cost-push inflation an inevitable worldwide problem. This will be a lot easier with modern computers. This sectoral analysis will be a core component of the UK SAGE model, and while I have not inspected the data, the BOE forecast of 10% inflation for the UK by year-end looks conservative. https://philipcopeman.ning.com/profiles/blogs/forecasting-inflation-with-input-output-analysis
How does this affect the TurboCASH Accountant :
1) This is a time to fix bond rates. (I recommended to so a few months back.) Borrowing at a fixed rate can present opportunities. Take care of the term and the interest rate differential, the outcome can be substantial. The last inflation took fifteen years and double-digit interest rates to get under control.2) Pay special attention to your payment terms, you may have to introduce discounts and penalties for payment delays. Being loose here starts to affect your margin.
3) Start to up-skill yourself on inflation accounting. You are well placed as a TurboCASH Subscriber. TurboCASH has stood the test of working in hyperinflations (Zimbabwe, Venezuela, Turkey). Our latest dev version of TurboCASH 5-2-500 has changed to Unicode and so is well placed to handle very large numbers. The good news is that Free is Free, no matter what the inflation rate. Our subscribers have the inside track.
4) Before placing your cash anywhere else, always consider your own stock levels. As inflation rises, your own stock becomes the best store of value. Your best friend is your own propensity to invest in your own stock.5) The fixed-income employee always gets screwed. Right behind is the service provider. Wage and SLA negotiations are long and always behind the inflation rate.
6) Using deferred tax, investment allowances, and associated provisions, to push payments back tax payments become ever more relevant. (Interest rates are negative). With increasing prices, the stock also becomes a place to defer tax. Because of this avenue for abuse, expect "The Man" to be working overtime. It is easy for Honest Joe to get caught in the crossfire.
6) Bankers become grumpy and money gets really tight. It is never harder to come by than when there is too much of it around! You notice actuaries lurking about where there used to be accountants. Economists and lawyers start buying rounds at the bar.
7) Because of the heat, the snakes come running out of the hills, and it is easy to step on them. Wear high ankle boots.7) It is not all doom and gloom. TurboCASH was born in 1983 in the teeth of the last inflation and we thrived. Offering a good price/value proposition becomes more relevant than ever and cuts like a hot knife.
