Home Computing Weekly30th August 1983
Published in Home Computing Weekly #26
Assuming you make correct entries, this program gives your current bank balance, profit and loss account, total debtors and creditors, balance sheet and your VAT return figures. And that's the end of the good news.
It can't tell you who owes you money, let alone how much or how long. You'll need some other way of finding this out, i.e. the manual system you are already using.
It's equally clueless about who you owe, so manual records for that, too. You're now doing duplicate entries and, since each entry needs a printer copy, buying lots of expensive paper.Each profit and loss heading is coded on the purchase ledger but not on the petty cash - be prepared to make copious notes for your accountant.
Sale of assets ignores profit or loss on sale or deprecated value. VAT deduction on vehicles is not accepted - either lose the VAT on your commercial vehicles or note it elsewhere.
The total inflexibility of the system make the profit or loss figure more unreliable with each update.