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From spreadsheets and on-premise software to a dedicated solution: Accountants reduce administrative tasks by 25 percent
Abraham & Solomon Accountants Ltd has celebrated its 25th anniversary in business by moving to Accountants Office, saving on admin in the process.
A proud, family-run business based out of Christchurch, Abraham & Solomon Accountants Ltd was founded in 1996 and has been providing a range of accounting services to businesses all over New Zealand ever since.
The practice’s founder, Emad Ibrahim arrived in New Zealand in the early Nineties as an experienced accountant, having worked in Egypt’s Ministry of Finance. And it’s in this enterprising spirit that Abraham & Solomon have developed its growing list of successful clients.
“What makes us unique is the face-to-face approach that we pride ourselves on,” says Sherif Ibrahim, accountant for Abraham & Solomon. “We know that, whether you’re a startup company or a growing business, you want to be able to have trusted advisors that you can depend on to navigate you through the business world.
“We bring together a world of experience from different industries and countries to deliver that guidance, and we regularly meet with our clients to deliver it — not only at tax time, but at various stages of the year to check in and make sure their business is running smoothly.”
Currently, the practice services businesses from a variety of industries and sectors, including construction, property development, hospitality, exports and imports, car dealerships and convenience stores.
As a result, the team at Abraham & Solomon require solutions that allow them to manage a wide array of clients, enabling them to ensure compliance as well as offering advisory services at the same time.
Why Abraham & Solomon chose MYOB Accountants Office
Abraham & Solomon had previously been working with Excel spreadsheets and an on-premise system for their practice’s client accounting needs, but the team recognised the need for change.
“As the business environment keeps evolving, so does our business and so we realised our systems needed to change as well,” says Sherif.
“Upon doing our research, we recognised that MYOB offers more human interaction, which was the deciding factor for us.”
But it wasn’t just MYOB’s customer service that made the solution a perfect fit for Abraham & Solomon, the powerful feature set it delivers was also a major consideration.
“We were particularly interested in what MYOB Accountants Office could deliver when it came to client accounting tools, and with Workpapers, Assets and Statutory Reporter all available in Client Accounting, we knew this solution would work for us.”
Other key benefits of MYOB Accountants Office for Abraham & Solomon Accountants Ltd:
- User interface is designed to be intuitive
- Compliance returns (GST, PAYE) are more streamlined
- MYOB Bank Feeds allows for real-time transaction review and analysis
- Payroll makes it easier to manage and track client staffing needs
- Invoicing features allow the practice to create and track invoices with ease
Save on admin: Client Accounting delivers results
While the management team at Abraham & Solomon had steeled themselves for a hefty migration process to their new system, in hindsight the work of changing accounting platforms turned out to be straightforward.
“A German writer, Goethe J. W., once said ‘Everything is hard before it is easy’, however MYOB provided us with training sessions and on-going support to help us every step of the way,” says Sherif.
Once implemented, MYOB Accountants Office immediately began to deliver results to the practice, which Sherif estimates have been significant.
“We have estimated a reduction of about 25 percent in administrative tasks after implementing MYOB Accountants Office,” he said.
“It’s given us a direct connection between client bank feeds and the accounting platform, eliminating the need for manual data entry and bank account reconciliation.
“MYOB Accountants Office saves us countless hours so we can now focus more on business advisory services, looking at trends and how we can better serve our clients.”
A few ways MYOB Accountants Office saves Abraham & Solomon time:
- Online access to MYOB client data means the right information is available when needed
- Statutory reports allow the practice to spend more time analysing data and less time collating it
- Automatic generation of account codes and notes removes a lot of the burden of manual data entry
The practice founder and managing director Emad says he couldn’t be more satisfied with the entire transition process.
“Going through this experience of changing the way we do things, I’m glad we chose MYOB and would do it again in a heartbeat,” he says.
“It really feels like we have the best accounting software in the market to help facilitate our business and it has really put us in good stead for the future.”
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