Let me describe my day: I live about 4 minutes from the office so I get in at 7:30. I open the office, open the windows, plug in the electricity of my PC (can't be too safe from Highveld thunderstorms) and boot up the PC. I fill up the kettle for my first cup of coffee and turn on. Back to my office where the PC is logging in. I connect to the Internet, and start collecting my email.

"I look forward to doing my accounts every month"
Duncan Eriksson, Chartered Accountant

Every morning I go online to Standard Bank. It takes a moment or so to log in. I choose to download the bank statement and then load EconoAccounting. I press the IMPORT button. 10 seconds later EconoAccounting has finished its task. I then check to see if the bank account has been reconciled - which it always is. I've timed this while procedure - it comes to 1 minute 35 seconds!

I look at each bank transaction that has been imported and note that EconoAccountng has also allocated those transactions to the correct expense accounts and that VAT has been included automatically. I look at the deposits and bank transfers from clients received for payment of my invoices. Those I click on and using my mouse, point at each invoice being paid. 30 seconds later, I call up my age analysis, and see which clients are a bit late. I sometimes choose the Financial statement option to see my full balance sheet and income statement accurate up to 3 minutes ago.

Then it's time to go to the kettle and turn it off because it is about to boil - I've got one of those high speed kettles, and I have my first cup of coffee for the day.

The paragraph above describing what I do takes about as long to read as it does for me to do my daily accounts.

Once every two months, I choose the VAT report button, and print my VAT report, and it is still done before my coffee begins cooling.

"I don't know the difference between a debit and credit and I can still use EconoAccounting
Louise Bruce, MD, Badges Unlimited

Once you are comfortable using our software, it will take you about as long for the same tasks.

Remember! There are some tasks you cannot delegate to your accountant:

• Check and reconcile your bank account.
• Do your banking
• Your expense claims and petty cash
• Invoicing
• Receiving and receipting payment from customers
• Producing a statement for your customers
• Payment to suppliers

If you use EconoAccounting to do all the above, it will automatically and almost magically do the rest of your accounts for you:

• VAT Report
• Age Analysis of debtors
• Income statement and balance sheet

EconoAccounting - The 5 Minute per Day Accounting System