The common ledger brings accountants closer to their clients in the cloud
Australia’s largest provider of accounting software, MYOB, today announced a revolutionary update for a core module of its accountant practice solutions, Client Accounting. The changes will significantly boost accountant productivity when it comes to collaborating in the cloud with their AccountRight Live clients.
The latest Client Accounting module enables accountants to connect with clients’ online AccountRight Live data file without leaving their MYOB Accountants Office (AO) or Accountants Enterprise (AE) Practice Solution. From today, they no longer need to leave the interface they’re familiar with to work with clients in the cloud.
The benefits of real-time online collaboration include reduced administration time by: 1) no longer having to rekey data, 2) correct client mistakes made over a long time or, 3) work back and forth with data on USB sticks or CDs.
General Manager, Accountants Division, Adam Ferguson says, “This substantial Client Accounting update provides a common general ledger system that empowers accountants to work with clients in a more efficient, confident manner. They can now complete Client Accounting work - including electronic workpapers and statutory reports - directly with a client’s file in the cloud, without leaving their practice solution.
“The time saved will increase their productivity and provide more time for accountants and their clients to focus on growing their respective businesses. The practice can spread the compliance workload more evenly, making it much easier to work more efficiently, drive revenue and deliver better, profitable services to clients. It’s a game changer.”
Sean Devenish, Principal of financial services firm Collins SBA says, “AccountRight Live and MYOB Practice Solutions increase our service offering because the client can now give us live data. Previously, it was always difficult because they had to give you copies of the database, which were snapshots at that point in time.
“It was always dependent on them actually doing the transfer. I can now start identifying opportunities for them but it’s also given me the ability to start talking to the client on a whole new level.
“This level is about how an accountant can provide value-added services and how we teach a client to run a good business. We can see the industry adapt to the new role of the accountant - teaching clients to run good businesses using the live information, as opposed to just telling them what happened 12 months ago.”
In addition, the secure my.MYOB online support centre now integrates into AE and AO Practice Solutions to centralise the management of my.MYOB logins for practice employees. This simplifies the administration of access to clients’ files. While Client Accounting provides the user interface that enables accountants to interact and work on the data file in the cloud, my.MYOB provides a secure gateway to access clients’ data files.
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Established in 1991, MYOB is now Australasia’s largest business management software provider. Its 50+ products and services have been employed by more than one million businesses in Australia and New Zealand. MYOB serves businesses of all ages, types and sizes, delivering solutions that simplify accounting, payroll, client management, websites and much more.–With a network of more than 20,000 accountants and other professional partners, it provides the support and tools that help make business life easier. Today, MYOB is extending its solutions online and delivering innovation through cloud computing, enabling clients to make smarter connections with their business partners and customers:http://myob.com.au/smarterconnections.