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Setting up online bookkeeping: MoneyMedic as a historical case

When I wrote about MoneyMedic in 2010, it aimed to help small business owners keep their records organized. It brought quotes, invoices, reminders and payments into one workflow. The free access and per-transaction iDEAL charge mentioned at the time are historical product details, not a current recommendation.

Follow the whole process

The useful idea in that product description was the connection between tasks, rather than the price. A quote only matters once the customer accepts it. Then you need to send the right invoice, check whether it was paid and, when necessary, send a reminder. If those steps live in separate files and inboxes, finding information takes time and mistakes become easier.

Before choosing bookkeeping software, write down your own workflow. How do you create a quote? Can you record approval and changes? Which information carries over to the invoice? How are incoming payments matched? Can you export your records if you switch providers? A demonstration of one attractive invoice tells you little about the daily process.

Look beyond “free”

Providers may charge for transactions, additional users, integrations or support. Read their current terms and calculate the cost for your likely use. Also check how you can retrieve your information, corrections and supporting documents. Software can reduce work, but you remain responsible for your records.

MoneyMedic is a dated case study here. The original signup link and old price should not be treated as present-day advice. The lasting lesson is straightforward: choose an administrative process you can follow from quote to payment, and check its full cost before depending on a service.

— GijsDiscuss this article

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