Part of every business, like it or not, is accounting. If nothing else, IRD likes to know how much they can get from you. But you too should have some idea of how you're going - and maybe even more. And this is where we are different from most traditional accountants.
Accuracy is important: Most of our customers have chosen their own accounting system. Some use it for more than others, but in all cases, the system has to be accurate. Bank accounts have to be reconciled properly, debtors have to show how much they owe, GST has to show what is owing, and so forth.
We believe in the importance of your system - so much so that we like to get it right and help you do almost all the accounting in the one package. By doing that with you we also teach you to get it right in the future. This means less effort for both you and us in the long term.
In the cloud or cloudless?
There's a lack of clarity in many people's minds about "the cloud". That's played on by the traditional main players as they now charge new users annually regardless, thus eliminating support issues for clients who stay on severely outdated applications. Of course, it also helps them source regular income. In an attempt to break through the confusion, here's the state of play as I understand it. You need to decide this before you start deciding which route to go, although if you're undecided you may want to go with a product which can be run on either, saving the hassle of a conversion as a later date.
Ignoring papyrus and the abacus, we have three main types of system. First are the traditional desktop-based systems. These include MoneyWorks (have not introduced annual charging), MYOB AccountRight and Reckon. Then there are pure internet-based systems - just accessed through a browser with no local facilities. These include MYOB Live Accounts, Xero and Reckon One. Finally, there are those that combine both. These include MoneyWorks, MYOB AccountRight Live and Reckon Hosted.
In the "good old days" when most clients and accountants ran software owned by MYOB, it was sad that the two didn't really talk. It was easier for accountants who used MYOB Accountant's Office to work with clients who used QuickBooks (their update of client systems with changes made by the accountant was simple and effective). These days the new MYOB software lets accountants and clients work together on the same cloud software - as long as course as both use MYOB.
Today we have tools from Xero, MYOB and Reckon that are a step up from the old days - but still work best if both client and accountant use the same platform. We believe that's a bit restrictive to sign up to. Clients are individuals, and when our clients choose to use a particular package, we do support them (as long as it supports NZ accounting rules - especially GST).