A friend who is retired wants to start his own business. He is a vet and will be making house calls, small amounts of cash, no exorbitant expenses. I suggested he use KMM to track income and expenses. I don't see how it differs from what I do with my personal expenses in KMM, but I have never owned a business and I realize I may be overlooking something. So, I am asking if there are any of you who have done this and if you have suggestions for the initial setup.
A
p.s. If this is not the correct forum for this type of outreach, I welcome being slapped into place by Ostroffjh or IPwizard, or Zebulon....

Thanks for the reply, Mr. Soros. (By the way, congratulations on being such a generous philanthropist! )
I didn't explain the problem fully, but basically, a simple invoice app will not give her the detail that KMM will. At the end of the year, e.g., he would like to know how much he spent on needles, drugs, etc and other minutiae that the KMM reports can provide.
A

No slapping needed, this is the right place to discuss.
Whether KMM will be suitable depends very much on what your friend expects to get out of it. For tracking income and expenses, I would expect it to work just fine. However, my understanding is that there are other needs for a business, such as producing certain tax related reports, which clearly differ based on where the business is - which country and what the local tax authority requires. Also, KMM does not handle things like invoices and accounts receivable or accounts payable. As I have never run a business (large or small) I can't make any useful comment about this. Whether or not these are critical needs is up to your friend.
I suppose the best I can suggest is that your friend try it - putting in a month's worth of sample data (or even a reasonable subset) and see if she can get out all the necessary information and reports.
KMM claims to be a great personal finance program, with the emphasis on personal. If it does work for someone running a business, great. If it does not work, requests for enhancements that are essentially business related are not likely to get much of a priority.
I hope that is a reasonable explanation - further discussion certainly welcome.

Thanks, JH.
I have been learning more and more on KMM's reporting. I am optimistic that I can produce the right report(s) so that he can fill out tax forms when the time comes. We'll see. Have a good weekend.
A

*quote removed by moderator*

G.L., I just got back from an extended stay in the U.K. (6 weeks!)
My friend is well on his way to using KMM for his business. I answer the odd question now and then but things are working well.
Thanks very much for the suggestion.
A

Sorry for the late response, but I wanted to chime in for others who might have the same question. Setting up a small business can be a bit overwhelming, especially if you're new to it. Using KMM to track income and expenses sounds like a good idea. It can be similar to managing personal expenses, but there are some additional considerations for business setup. For example, you might want to create separate categories for business-related expenses and income to keep things organized. While I don't have personal experience with this, I recently came across management development programs online that could provide valuable insights and guidance for setting up and running a small business. It might be worth exploring if your friend wants to dive deeper into business management.