this post was submitted on 07 Sep 2023
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Business Accounting/Taxes (lemmy.world)
submitted 2 years ago by Insight@lemmy.world to c/selfhosted@lemmy.world
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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.

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[–] 0x0@social.rocketsfall.net 3 points 2 years ago (1 children)

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.

[–] Insight@lemmy.world 1 points 2 years ago (1 children)

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.

[–] 0x0@social.rocketsfall.net 2 points 2 years ago (1 children)

Yup, it's double entry.

[–] CrimeDad@lemmy.crimedad.work 1 points 2 years ago

How does it handle stocks and other assets? Do you know iysf it's possible to import from GnuCash into Firefly?