There are a lot of things that contribute to a successful business, but there’s no doubt that cash is a pretty significant one. Whether or not a business can generate enough revenue to not only stay afloat, but make a profit, determines whether or not that business can continue to operate.
But collecting that cash is not as simple as swiping a customer’s credit card. From the first cent a business spends in buying its stock, to the final cent the business receives in payment from a customer, the cash conversion cycle can tell a lot about just how efficient and effective a business is.
If you have worked in an office you know how frustrating IT issues are. If you are now working from home you know how frustrating IT support issues are. If you have ever experienced an IT support issue installing software (like MYOB AccountRight) you know how frustrating IT issues are.
We’re so used to everything online being available all the time that we don’t think about the risks associated with a website being down. Xero experienced a MASSIVE issue relating to the ability for their users to login and use the software on the 27th July 2021. This meant that
Invoices couldn’t be created
Pay runs couldn’t be made
Accounts Receivable staff couldn’t see if customers had paid
Accounting staff couldn’t use Xero for their work
We all take for granted the benefits of having multiple staff logging in at the same time from different locations as well as automatic backups of our information, but this issue lasted from 8:25AM until 7:04PM – that’s 12 hours!
Xero is transparent about any issues and fixes about their software so you can see exactly what happened that day.
It’s interesting and exciting that Xero now offer their Xero Learn service to training course publishers like EzyLearn for $6 per month. This ongoing access to Xero Accounting software seemed exciting at first but then I realised that it’s just accounting software! AND it’s just for training! AND 30 days is MORE than enough per case study!
Most students don’t want to access Xero accounting software forever. Even business owners don’t really want to pay an ongoing fee for their accounting software – they want something else..
Two of Australia’s newest billionaires Mike Cannon-Brookes and Scott Farquhar have become wealthy because they created software that enables companies like MYOB manage a team of developers, designers and analysts in the pursuit of continuously adding enhancements, updating the software, fixing bugs and providing support for their MYOB Tax software via their company Atlassian, but I digress.
The reason for this post is because of obscure behaviour by MYOB regarding their essentials software and a recent upgrade they performed on the MYOB Essentials software.
Some people love learning new things other people not so much but whether you enjoy it or not it’s frustrating and challenging so you have to keep the end goal in mind!
We’re exploring new technology every month and my latest challenge involves some very technical tasks relating to VoIP telephony for our business phone systems. In the end I know it’s going to be worth it.
If you need to upskill to work remotely from home it’s a great time to learn how to use MYOB Essentials, Xero Accounting & QuickBooks Online. If you are applying for the many government jobs that are available you’ll need data entry and Microsoft Office Essentials skills. Get some of these skills for FREE!
End of financial year 2020, Covid19 still wreaking havoc around the world, shopping centre and even main street strip shops closed! This is the weirdest time of our lives for sure. We’ve also noticed a big increase in the number of students enrolling on the $20 per week payment plans for courses.
This announcement is for those in the bookkeeping industry who’ve trusted us for the last 2 decades (and a bit) to provide great quality pre-accredited bookkeeping courses in MYOB, Xero, QuickBooks and Microsoft Office.
I find it interesting to see the messages coming from both these companies. They seem to arrive at similar times and it shows that they are very closely watching each others digital marketing messages and fighting for your attention by revealing what they are doing for you, their clients.
This week Xero sent a message about cashflow forecasting and QuickBooks sent a message about their receipt scanning and data capture but which one is more important right now? I’ve attached the email message sent from each company for you to compare.
Let’s face it, when you can manage your finances from anywhere, using your phone to scan receipts and Xero Accounting to code them and store them in the cloud one of the hardest parts of managing a business is taken care of.
We’ve all been able to call, text and email from our mobile phones and use online marketing tools like Google Ads and Facebook for social media so when you finally get your back office tasks migrated to the cloud it’s easy right? Well, that’s what the marketing hype says anyway, but things aren’t that rosy really, are they? Continue reading Learning Xero Will Help You Run An Online Business
It was in 2018 that I last wrote about Reckon One and how some of their software was far superior to Xero according to the ACCC. With competing priorities and updating our MYOB, Xero and QuickBooks course materials being our first priority Sage One and Reckon One Daily Transactions training course for tradies is now almost complete.
Reckon works with AutoEntry for receipt capture and their accounting software is also STP Payroll compliant so it’s a perfect low-cost accounting program for micro and small businesses like tradies but they’re missing one important feature..
Pardon the pun but it’s true, Sage One training course materials will now be included in the Bookkeeping Academy Training Course Package along with Xero Accounting, MYOB & QuickBooks.
Many bookkeepers use EzyLearn to keep up to date with the various accounting software programs now available and this latest announcement is for you. Training Course materials and support for Sage One and Reckon One.
I had a fantastic conversation with an EzyLearn student during the week. She enrolled into our Xero COMPLETE Training Course Package and love it so much she enrolled into MYOB, QuickBooks, Excel and more.
The course increased her confidence to apply for and get work after years of being out of the workforce and as a bookkeeper she now uses the courses as a resource for aspects of the software she needs to upskill on. The EzyLearn Affiliate Membership is designed for students like her.
It almost seemed like Xero was giving you $27.50 of extra value when they announced their $2 per month increase last week. These effects take effect on 18 March 2020 but not everyone wants Hubdoc and competitors like QuickBooks already offered similar functionality!
Xero has had a love/hate relationship with bookkeepers ever since the days when they promoted their accounting software as so easy that small business owners could use it themselves – without the cost of a bookkeeper – and it looks like they are well on their way with this mission. Continue reading Xero going up a pesky $2 rather than $27.50
I ran a CloudPBX Business Telephone System business several years ago that combined products and services just like most tradies – some of the items sold were in the technicians truck while others had to be ordered in for each new installation. It is the perfect case study for our Data Entry, A/R & A/P Courses for MYOB, Xero and QuickBooks courses because I knew about it intimately and it’s very similar to how most tradies operate.
When we design a course we follow these steps:
come up with the scenario,
create the data examples,
run through the scenarios, and then
create the training workbook (then the videos and assessments)
The Xero Data Entry and Credit Management Training Workbook – we call it “Daily Transactions” – is now available separately as an instant download!