Accounting SystemsAndrew Jeffers

Thursday, 4 October 12

Agenda• Data / Information• Systems• Habits• Monthly Information• Accounting Systems• Going Mobile

Thursday, 4 October 12

Data / Information

• Data - are values of qualitative or quantitative variables, belonging to a set of itemsThis Includes :

• Invoices to clients

• Invoices from clients

• Receipts

• Bank Statement

Thursday, 4 October 12

http://en.wikipedia.org/wiki/Qualitative_datahttp://en.wikipedia.org/wiki/Qualitative_datahttp://en.wikipedia.org/wiki/Quantitative_datahttp://en.wikipedia.org/wiki/Quantitative_datahttp://en.wikipedia.org/wiki/Variable_and_attribute_(research)http://en.wikipedia.org/wiki/Variable_and_attribute_(research)

Information

• Information - information is the message (utterance or expression) being conveyed. A systematic organisation of data which provides meaning. For business information we look at :

• Profit & Loss

• Balance Sheet

• Cash flow

• Sales Analysis

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http://en.wikipedia.org/wiki/Information_contenthttp://en.wikipedia.org/wiki/Information_contenthttp://en.wikipedia.org/wiki/Conveyed_concepthttp://en.wikipedia.org/wiki/Conveyed_concept

Systems

• Garbage in Garbage Out• Systems for everything• System for Invoicing - Make it easy to be

paid.

• System for bill payments - Once a week / Once a month. Direct Debit for most things.

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Habits

• Do receipts weekly. Invoice Daily• Tray for Cash / Tray for Credit Card / Tray

for Invoices

• Budgets - Do them / Stick to them• Bank Statements - Automation

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Monthly Information - Cash Versus Accrual

Green Grocer Versus Professional

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Monthly Information - Cash

• On receipt of actual Cash

• Do not see overdue bills

• False economy

• Simple for the ATO reporting

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Monthly Information - Accrual

• Bills accounted when raised - Not when cash received

• Payables when they are used

• Pay GST on Invoice

• A little complicated unless you have a good system

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Monthly Information - Profit & Loss

• Income versus expenses

• All information to be included

• Check actual versus the budget

• No surprises

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Monthly Information - Balance Sheet

• Taxes - GST, Wages Tax (PAYGW)

• New Assets

• Who owes us money

• Who we owe

• What are we worth - Profit YTD in Equity

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Monthly Information - Cash Flow

• Cash is King!

• Bank Balance

• When is money coming in

• When are we paying money

• Do we need equipment

• Do we need to borrow / Inject Cash

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Systems• Paper• Excel• Cash book• Accounting Package

• MYOB• XERO• Saasu

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Systems

• MYOB - Many Versions - Live Accounts• Desktop Systems• Accountants• Live Accounts

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Live Accounts

• Web Based• Accountants use it• Familiar for many people• Cheap product but limited• Can work offline

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Live Accounts

• Pay for Upgrade• Cannot use out and about easily• Does not have API’s (application

programming interface)

• Limited Payroll• Limited Reporting

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Xero

• Web enabled• Fully featured • Easy to use• Dashboards• API’s

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Xero

• More Expensive than Saasu• No Multi Currency for entry Level• Extra for API’s and Add ons• Balance Sheet Reports

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Saasu• Web enabled• Many Free Ad-ons• $35 per month for Standard• Dashboards• Fully Featured• API’s

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Saasu

• 5 Bank Feeds Only• Drill Down not as good• Smaller Company• Less Accountants using it

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Systems

• Link will be sent to people to see the comparison of the 3

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Getting Connected

• E-Commerce - Magento, e-bay, paypal• CRM - High Rise, Salesforce, Sugar, Zoho• Data Capture - Shoe Boxed

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Getting Connected

• Flat Files• HTML / XML• Own Bridges / API• Onesaas Integration www.onesaas.com

Thursday, 4 October 12

http://www.onesaas.comhttp://www.onesaas.com

Comparison

MYOB Xero Saasu

E-Commerce Not Yet Yes Yes

CRM Not Yet Yes Yes

Data CaptureNot Yet Yes Yes

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Useful Links and resources

• Basic Excel Budget / Cashbook - Download to be sent to Emma• www.shoeboxed.com.au• www.xero.com• www.saasu.com• www.myob.com.au • www.onesaas.com

Thursday, 4 October 12

http://www.xero.comhttp://www.xero.comhttp://www.saasu.comhttp://www.saasu.comhttp://www.myob.com.auhttp://www.myob.com.auhttp://www.onesaas.comhttp://www.onesaas.com