Hello @LTS_Tom
Thanks for your videos on Invoice Ninja. I know in the past you indicated that you use KMymoney as your internal accounting system. One video that might be helpful is the interaction between Invoice Ninja and your accounting system. We have looked at Invoice Ninja and it looks really cool compared to our quickbooks. I would assume that as a S-Corp you likely just do a data dump from your bank into KMyMoney to report profit, generate P&L,etc. However, I am curious how you handle things like sales tax, etc. With QB it is all integrated into the vendor side to be processed in one fell swoop. Does Invoice Ninja do a good job at tracking and reconciling sales tax? 99% of our customers are pay by check so we would likely need to process that payment in Invoice Ninja via check and then also do the transaction in the accounting system either via cash receipts or bank dump. Obviously all these things can be worked around but I am curious as to the lack of integration between invoice Ninja and KmyMoney adds to your workflow from the accounting perspective.
Also are you using Invoice Ninja’s time tracking app? Do you use it via mobile phone? For instance if one of your techs leaves a site does he bring up the client and log the hours into Invoice Ninja to be invoiced or possibly processed later.? We have an android app for that that dumps to a Quickbooks IIF file to be imported in as a time tracker transaction. Works well.
Anyway, thanks for sharing your experiences.
Thanks
I might do a complete accounting process video soon, but the way we do it now is without any direct connections between InvoiceNinja & KMyMoney. My month end accounting process is to dump all our bank accounts QIF files into KMyMoney for processing, and we only run a sales tax report from InvoiceNina. I do my accounting based on actuals, not accrual. InvoiceNinja has an app, but I currently don’t use it because the majority or our work is done remotely. We do use the time tracking but for everything as many of the jobs we will just look at the remote tool to see how long we were online.
I would also be interested in a video. I’m currently evaluating Invoice Ninja since our quickbooks subscription went up again. It looks like Invoice Ninja is better geared for our type of work, and significantly cheaper than quickbooks.
Thanks @LTS_Tom… I assume you invoice everything out of invoice ninja including hardware and software too. And you likely just have these cost of goods sold in KMyMoney only (from outgoing payments to vendors, etc) . With this separation do you monitor profit margin by customer/job within either of these 2 systems or in some other way? Or since you are a cash basis it is likely you just generate a monthly P&L after you dump in the bank account debits and credits?
Thanks again… I like what I see in invoice ninja but concerned about the extra work due to the lack of integration with the accounting back end especially since we mostly accept payment by check. Perhaps I am overthinking it.
Yes, I would definitely like to see a video on your setup. Even if its not something we copy directly, but model off of for our own needs. I need to get allot better at tracking all the ins and outs. Currently I use PayPal Invoicing but to be honest it sucks for a number of reasons. Im trying out Invoice ninja this week.
I gotta say the install today in our virtual stack was painless. And the flutter based mobile app is amazing. We will just need to work around our internal procedures a little bit to make it work. But i am confident it will be possible. After looking into this project I really love their philosophy regarding open source. That is a win for me.