Business Technology Accounting Software

Discussion in 'Starting & Running a Business' started by Paul@PAS, 20th May, 2017.

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  1. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Huge inroads have been made to accounting software. But too many clients think Xero is a huge improvement. Its not unlike all the rest. It uses bank feeds and cloud technology. Yawn.

    Our software for business clients costs $8-$15 a month. And we can provide it for free as part of our annual services.

    Xero, MYOB, Quickbooks and any others cant beat that offer. And that includes bank feeds and cloud support and so much more.

    Professional software or retail software ?
     
  2. Simon Hampel

    Simon Hampel Founder Staff Member

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    What are the integration capabilities like? Does it have a fully documented API for 3rd party integration?
     
  3. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Much of it. Mine "synchs" with out software and also things like our software for tax. One click = a tax form.
     
  4. Jerry O

    Jerry O Well-Known Member

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    Hey guys,

    based on your experience. which software would you recommend your client use for easy transaction and better interaction with the software you are using.
    For business matters and personal tax matters (including property investments and shares)
     
  5. Simon Hampel

    Simon Hampel Founder Staff Member

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    Managing personal finances are very different to business finances.

    For personal I don't think there's anything much out there beyond good old Reckon Personal (previously known as Quicken). I haven't come across any good cloud platform which does what Reckon can do.

    For business there are a lot more options - Xero (NZ based) is the big one , Saasu (Aus based) has been around longer and has a bit more functionality - but isn't quite as flashy as Xero, but both MYOB and Quickbooks have online solutions too now.

    I don't know what @Paul@PFI runs for his clients.
     
  6. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    For business clients I have software that is not available in retail stores. Its full function and REALLY cheap. Its better than Xero and all the other retail products IMO.

    For shares etc NONE are any good. A great broker with good reporting is your best bet. If you hold income securities like ETFs etc then that wont be any good either and a good managed fund / wrap or similar reporting system will be the best.

    Accounting software isnt personal software. There are some good and some bad and many are just far to much effort.

    As a guide my response is very different for a SMSF v's a individual, or a company (business)
     
  7. Simon Hampel

    Simon Hampel Founder Staff Member

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    I agree here. For business and personal expenses, I'm pretty anal about keeping good records so I know exactly where the money is coming from and where it is going and it's largely pretty straight forward to do so (depreciation notwithstanding).

    However, I gave up many years ago trying to get Quicken to give me reports about my shares/funds that matched what my accountant was doing - too many quirks and gotchas so it was never quite right. I just keep good documentation and send it all to my accountant - and use spreadsheets to track my investments for my own benefit. I've never had large numbers of individual shares or investments though, so there's not all that much documentation to worry about.
     

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