Accounting software for search funds

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August 13, 2022

by a searcher from IE Business School in Los Angeles, CA, USA

Working on launching a search fund right now. Curious if anyone can speak to accounting software that they've used in the past to track inflows/expenses and produce financial statements during the search phase. Is Excel typically enough? Would QuickBooks be a better fit?

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Reply by a searcher
from University of Colorado at Boulder in Georgetown, CO 80444, USA
I went with Zoho one. About $500/ yr per license. Zoho books is included. Comes with a CRM and a signature service, email website etc. all the apps work together. Don’t use a third party to set it up. Takes about two days to get it sorted. Plenty of videos and tutorials per app.

I’ve used quick books. It’s by far the most robust but a search fund is fairly simple. Excel is just as good with a monthly dump of expenses from your bank account.

Hope this helps.
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Reply by a searcher
in Toa Baja, 00949, Puerto Rico
Excel should be sufficient to track search expenses. Once I finished my acquisition, I rolled all the search expenses (which were minimal), lawyer fees, and closing fees into a purchase accounting journal entry in Quickbooks. I use Quickbooks Enterprise (desktop version) for the business; it's fairly simple to learn. It's worth a couple hundred dollars to have a QB expert setup the company and chart of accounts in QB as well. Good luck!
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