Accounting SystemsAndrew Jeffers

Thursday, 4 October 12

Agenda• Data / Information

• Systems

• Habits

• Monthly Information

• Accounting Systems

• Going Mobile

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Data / Information

• Data - are values of qualitative or quantitative variables, belonging to a set of items

This Includes :

• Invoices to clients

• Invoices from clients

• Receipts

• Bank Statement

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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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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

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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