Accounting software

[beanydc]

Originally Posted by MYOB

I have dealt with accountants, who ask you simply to sen the reports they can not even open a data file.
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It's often not a question of whether or not we can open the data file. Provided we have the necessary reports, and can read the detailed general ledger, then a trial balance take on is all that is required, and takes a fraction of the time compared to figuring out what version of what platform they are on, getting all the passwords sorted out, making sure the chart mapping and GST treatment is correct for the newly added codes, importing the data, trying to work out why it wasn't a clean import, and then clogging up our files and making it difficult to identify our end of year adjustments.
For the same reason we often do not attempt to make the clients cash book equal to ours. Naturally we will do it if asked, but most of our guys are using a computerised system to keep track of their debtors.

[Dardee]

Exactly right Denise. If you have confidence in the information provided there is no need to get the file.

[divapromotions]

I use quickbooks and I love it - it's so easy to use and shows you the steps you need to take. The interface is what makes it so good, whereas MYOB doesn't really have an interface - it has 3 different sections, but if you are a newbie to it all, it's not user friendly!!

I've not actually looked at the one you have suggested, but I do agree with the others on not having to worry about losing your data - as long as you have the functionality to download/backup offline then you are fine.

I am going to outsource my bookeeping once I know how to do it. Sounds a bit silly, but I need to know what is going on in my business and I've had too many people close to me been burnt by outsourcing their books to a dodgy bookeeper - who at the end of the day isn't responsible!(in the eyes of the law)(apparently)

let us know how you go with it!

[@HeatherSmithAU]

Denise and Dardee,

Do you advertise the fact that you do all the work without even having to open the business owner’s data file?

[Dardee]

I no longer work in practice so I'm one of those preparing the information for people like Denise. I'm not sure what you mean by "do you advertise the fact"? You make it sound like a dodgy shortcut, but in fact it is far from it. Think of it on a different level. Does the accounting firm working with BHP get their data file?

Just because a business is using MYOB does not mean that they cannot produce a set of accounts the accountant can be happy with to prepare a final set of accounts and tax return from. If all the entries are in and everything balances then there really is no need for the accountant to get the file. All they will be doing is printing the same reports.

[KarenC]

I use MYOB because my accountant upgrades every year also and can read my files. I just send my MYOB file with my notes and it makes tax time so much easier.
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If you have good accounts your accountant will charge you less.
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It's also important to know if the accounting software you are using works with GST reports so you can lodge GST properly.

[beanydc]

Advertise, no. Discuss, yes.

The discussion hinges around what they want to achieve, and how to effect that. If software is cost effective AND it achieves what they want, then we ensure that they are partnered with appropriate bookkeepers /trainers.
Sometimes all they want is drs, sometimes they want cashflow reports. Sometimes they do want a fully tracking system. Sometimes they think they want an inventory system.

Often, they just want to save accounting fees - well, life lesson one

IT IS NOT CHEAPER TO PUT THINGS ON A COMPUTER.
IT IS NOT CHEAPER FOR THE CLIENTS TO DO THEIR OWN GST

I've worked on about 120 different accounting / stock systems - all have their strengths and weaknesses. But the most important key to getting it right is to appreciate the level of understanding of the person doing the data entry. And the best way of effecting this is to read the gl. If they know what they are doing, then there is no need to bring the file in electronically, and if they don't know what they are doing, there is no way you'd want to clutter up your ledger - it's better to start from scratch because it is quicker and cheaper.

We have a sub-speciality in doing multi-year return arrears. There's about five standard reasons why people get themselves in a mess, and for about a quarter of them, it's becasue they put it all on a computer and didn't understand, lost the plot, got tired of keeping it up to date, or it crashed. Almost all of those clients are now on banklink with work done in our office.

MYOB is hands-down the worst system for getting people lost, and it's the worst system for CA's to support - last time I checked I had 32 different MYOB applications in use by clients (about one each) compared to about 23 clients on Cashmanger, and 13 clients on Easibooks (plus a few more). And now that we're into a new year, I'm sure my MYOB count will increase. So we not only have to work out what system they're on, when the client helpfully tells us it's myob, then we have to figure out the passwords. CM and EB, at a practice level we don't need passwords - those software providers accept that we are grown-ups.

It's not about the platform, it's about the quality of the result. If we get a working result we use it. If we don't, then we start from scratch. In my experience, the most time expensive solution is to work with bad data and try to correct it.

Denise

Originally Posted by MYOB

Denise and Dardee,

Do you advertise the fact that you do all the work without even having to open the business owner’s data file?

[@HeatherSmithAU]

Denise,

I think you have highlighted the problem.

You need to get MYOB Company File Manager which opens all version of MYOB or MYOB Accountants Office.

You then would not have these issues.

My personal experience is many business owners are unaware their accountant is not checking under the hood.

It is great that you discuss it with them.

Hopefully business owners are using their accounting software to generate management information, which they can use to manage their business on a daily basis - frankly management of the GST and the BAS side of it should only take 5 minutes or less a quarter.

Everything else they should be doing regardless of GST.

[@HeatherSmithAU]

Originally Posted by Dardee

I no longer work in practice so I'm one of those preparing the information for people like Denise. I'm not sure what you mean by "do you advertise the fact"? You make it sound like a dodgy shortcut, but in fact it is far from it. Think of it on a different level. Does the accounting firm working with BHP get their data file?

Just because a business is using MYOB does not mean that they cannot produce a set of accounts the accountant can be happy with to prepare a final set of accounts and tax return from. If all the entries are in and everything balances then there really is no need for the accountant to get the file. All they will be doing is printing the same reports.

Hi Dardee - I respect you as a professional and apologise if my comment suggests anything 'dodgy'.

This was not my intention.

My experience is that many business owners think their accountant is 'looking under the bonnet' and are lterally flabberghasted that they are not.

[@HeatherSmithAU]

Originally Posted by KarenC

I use MYOB because my accountant upgrades every year also and can read my files. I just send my MYOB file with my notes and it makes tax time so much easier.
.
If you have good accounts your accountant will charge you less.
.
It's also important to know if the accounting software you are using works with GST reports so you can lodge GST properly.

Yes you are correct Karen - there is a list of compliant software on the ATO website - there are literally 100's of them!