Making life easier, saving you time and money.
CLOUD ACCOUNTING FOR YOUR BUSINESS
What is cloud accounting? Collaboration: Provides your accountant with visibility of Cloud accounting is the term given to the storage and your accounts throughout the year, not just at year-end. processing of your data on servers, or ‘in the cloud’. This This ensures improved data accuracy, eliminates delays technology allows business owners to access their business at key compliance times, and helps us to provide timely financials from anywhere or on any device. It is specifically financial advice to you. designed for the mobile 24/7 world that we now live in. Moving to the cloud is simple and pain free At RSM we’re always looking for ways to save you time and We simplify the migration process from traditional to cloud money in your business. One of the greatest opportunities accounting. available to businesses today is to take advantage of the power of the cloud. Choose your platform - MYOB, XERO, QuickBooks Online, Saasu, Reckon & others we’ll help you choose the Why switch to cloud accounting software? most suitable platform. We know them all. Total agility: A modern business needs information that is real time and always up to date. How else can you Moving made easy - We make your existing data cloud make effective business decisions? Now you can access ready. Say goodbye to that clunky crashing accounts your live accounting data from anywhere, from any computer and messy folders. device with an internet connection. Automate everything - We train the system to suit you, Saving you money: Business owners are regularly on not the other way around. Get ready for algorithms to do the go, every moment counts. Research shows that 90% of your repetitive data entry. clients using cloud products with automated bank feeds are saving an average 10 hours a month – a figure they equate to around $700 of your time. Imagine the possibilities!
Saving you time: No more version-control data files. SE ARCH No more time-consuming upgrades or large accounting 01110001 data files taking up all that space. Plus, no more data 00101000101001 backups required. Good riddance. 011100011011010011 00011010100111011111000 Real-time insights: Entering data at the end of the week or month only gives you a view of the past. With online accounting, you can have a daily view of how much is in the bank, your expenses, and who owes you money. So you make better decisions based on accurate data.
Secure & reliable: The Australian Taxation Office (ATO) requires businesses to keep detailed business records for a minimum of five years. Cloud accounting software automatically and securely backs up your data. It will be safer than ever before. COMPARING CLOUD ACCOUNTING SYSTEMS This comparison chart is designed to differentiate between various accounting software packages. These discussion points should be used to identify your accounting software requirements, and expand on the capabilities and limitations of each product. Please speak to your accountant before making a selection.
MYOB QuickBooks MYOB Xero AccountRight Reckon One Online (QBO) Essentials Live Simple Start Starter Essentials Accounting Standard Core module plus Essentials Standard Essentials Accounting Plus customisable modules; Levels Plus Premium with Payroll Premier Invoicing, Bank Feeds, 10/20/50/100 Projects, Time & Expenses, Payroll Software required, Completely functionality to work online P P P P in ‘the cloud’ and offline Functionality Add purchase & sales Unlimited quotes Available in Standard approval for medium and invoices P and Premium P P level subscription Recurrent Available in Essentials Available in Standard Available with invoicing invoicing and Plus and Premium O P module Available with invoicing Purchase orders Available in Plus P P P module Bank feeds (all major and most Uses BankLink (nearly Uses BankLink (nearly large Aust. P P all banks supported) all banks supported) P banks) Advanced functions Basic functionality; beyond stock on hand, integrates O O Inventory Available in Plus including price breaks, with inventory (third party products (third party products auto-build and part management available) available) unit selling Employee Essentials – One 10 employees included, numbers limited by Employee, Payroll $4 for each additional Unlimited employees Unlimited employees subscriptions; basic Essentials with Payroll employee payroll functionality – Unlimited Employees Multiple Available in Essentials Available in Premium currencies and Plus O O O Only available in two Income/expense categories, with Available with project tracking P unlimited tracking of P P management module subcategories Pay Super feature Superstream Available through Pay Super feature Included with release Available in Premium included in Essentials compliant Keypay included of payroll module with Payroll GST capable P Consolidated P P P Features available Basic features of Basic features of Limited features, Limited features for invoicing, creating invoicing, add/editing invoicing, add/editing available for viewing Tablet & available for invoicing expense claims and contacts and taking contacts and taking net position, sending smartphone apps & viewing contacts reconciling bank card payments card payments invoices and managing accounts through PayDirect through PayDirect contacts Available with projects Job tracking Available in Plus O O P module Basic functionality; Available with core Budgeting Available in Plus add-ons available O P subscription Simple Start 20+ Built-in reports Essentials 40+ 40+ 30+ 150+ 22+ Plus 65+ Tiered Access Simple Unlimited user 1 user; Essentials 3 access P P P P users; Plus 5 users MYOB QuickBooks MYOB Xero AccountRight Reckon One Online (QBO) Essentials Live Partners Limited selection due Limited selection due Integrations & Extensive 350+ add- 150- add-ons available to Reckon’s recent to QBO’s recent arrival Limited selection add-ons ons and growing (expanding daily) arrival and developer (expected to grow) screening process Support Classroom and online Training (free training also available online webinars) P P P P at a cost Online library of Online library of Online library of Extensive how-to support notes, phone support notes, phone support notes, phone Support Online chat support guide and instructional support, a community support, a community support & community videos forum & live chat forum & live chat forum Pricing Click for pricing plans Click for pricing plans Monthly fees Click for pricing plans (discounts for multiple Click for pricing plans Click for pricing plans (subscription options) organisations) Free 30 day trial P P P P O Security Transport Layer SSL Security Security (TLS) encryption P P P P encryption Automatic Self-managed local backups P P P backups P
Session security O audit trails O (deleted transactions O P P can be viewed)
Overall Although late in NZ based cloud Small sibling of the Staple in the SME Late to release a assessment the game, Intuit’s accounting pioneer well known MYOB, accounting industry. next generation introduction into built for the ‘non- this browser-based Functionality cloud accounting cloud accounting accountant’. software is directly provides for greater system, Reckon has been extremely While a bit more competing with flexibility and better One is simple yet welcomed. Great expensive when Xero and QBO. This reporting. Great for flexible. The major software with an compared based software focuses on complex business advantage is the attractive price on features, Xero is the key functions operations and large ability to customise tag. Ideal for adored for its ease for a small business payrolls. the functionality small business of use and intuitive and is a great first by subscribing and with around 10 functionality. step in growing unsubscribing to employees. Perfect for small businesses. Ideal for various modules business with few start-ups and sole on a monthly basis. staff members. traders. Great for small businesses, capable of handling larger & more complex businesses and logical progression from Reckon Accounts. HOW WE CAN HELP YOU You already know that cloud accounting is the way of the future when it comes to running your Make Better Decisions business. If you’re ready to get started and get Cloud accounting software gives you all the information you need to make better decisions for your business. All of the ahead of your financial requirements in 2016, relevant information will be available to you in real time. Know chat to one of our expert consultants to see how all the facts before you make the decision. Make the right we can help you find the right solutions for your decision every time. business. Streamline Your Processes The cloud simplifies tasks that would otherwise take hours, sometimes even days. Collaboration with your accountant on information and decisions is instantaneous. Identify improvements and implement them to create efficiencies as soon as they’ve been identified to improve the way your business works.
Value Your Time Spend less time on accounting processes and more time on growing your business. Focus on earning more revenue, safe in the knowledge that your financial processes are as efficient and effective as possible.
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