Are you chasing money? If so, you’ll probably know the hard way that credit management is about chasing money owed TO a business (Accounts Receivable) and managing the money owed BY a business (Accounts Payable).
Credit can be a very scary thing when money and cashflow is tight! Machines and software are replacing humans for many data entry type tasks, but nowadays this is also the case for chasing money owed (Accounts Receivable).
IF YOU’RE RECEIVING the job alerts everyday — indeed, you may even have applied for some jobs already — but you’re still not getting called up for interview, then the following questions of doubt may be brewing:
There are plenty of reasons that you have no experience: Changing careers, new graduate or re-entering the workforce after many years away (like when you’ve started a family and been out of the workforce as a parent). These circumstances justify your lack of experience but there are things you can do.
Our team has reviewed the features of some of Australia’s biggest job boards for accounting jobs and we’ve used some of the features that can help job seekers receive notifications when new jobs become available. There is hope and there are things you can do.
Xero is complicated, let’s be honest. I know that Xero tell you the software is beautiful and simple to use but in reality it’s accounting software and if accounting software was easy then everyone would have their BAS’s lodged on time and have no credit risk issues.
It also depends on what kind of past experience you’ve had with accounting and bookkeeping work, but there is a way to up-skill in Xero quickly.
In doing so, it’s interesting to note that QuickBooks, for small business owners, at least, was the clear winner against MYOB in terms of reporting and user experience. But how does QuickBooks stack up against the increasingly-popular Xero? You may be surprised at the results.
This Xero Accounting and PayPal training workbook is our free gift to you. It’s designed for all tradespeople — and anyone else — who does the bulk of their work (and their pricing) ‘out and about’.
It’s designed to help people who just want to get the financial aspect of their work sorted out — so they can get back to doing what they do best. In the case of these tradies, it was doing a great job on the tools.
DO YOU GET frustrated when you see the little box at the bottom of the BAS lodgement form? You know, the one where they ask how long it took to complete the form because I feel like writing, “It took 10 minutes to complete the form, but 4 hours to do the data entry and bank reconciliation work!”
Junior bookkeepers, accounts receivable and accounts payable clerks, and office administrators will all share that their most time-consuming work is data entry, coding and bank reconciliations. However, there is software available which almost totally automates this work — and it’s becoming increasingly accurate and speedy.
I RECENTLY HAD the pleasure of visiting the Reckon head office in Sydney to learn more about their new Reckon One product — and it’s quite a compelling offer.
To start with, Reckon, a listed company, was not allowed to sell its accounting practice management software (APS) to its competitor, MYOB, because Xero HQ wasn’t much chop.
Yes, that’s right, Xero HQ was deemed so “insufficient and unsophisticated” that it wasn’t viewed by the ACCC as offering any competition in this marketplace whatsoever and therefore they wouldn’t allow MYOB to hold the monopoly.
This made me, and no doubt, many others, realise just how powerful Reckon could be in the online accounting market if it had the right software offer — and now it does.
THE ULTIMATE GOAL of a job site (and they are not all created equal!) is to deliver the highest volume of candidate applications to the job poster (the recruiter or employer), while also providing candidates (job-seekers) with access to the highest volume of top-quality job listings.
Since recruitment classifieds moved online more than two decades ago, the ease with which job-seekers could apply for jobs increased.
ACCOUNTS PAYABLE OFFICERS are responsible for paying invoices owed by a company to its suppliers or vendors.
They typically work in medium to large-sized businesses, where they may also be called an accounts officer and be responsible for investigating the cost of wages, materials, overheads and other operating expenses.
Here are some of the other common tasks you’ll find in an accounts payable officers job description.
FOR BUSINESSES WORKING on large projects spanning weeks or even months, keeping track of time, cash flow and profitability is imperative. This is even more so for businesses that work on fixed-rate contracts or tenders.
Such fixed-rate projects are common in the building and construction industry, but also the creative, engineering, and IT industries.
Many of these businesses manage a project’s workflow across a number of different documents (spreadsheets, their CRM, accounting software) — and many don’t manage it properly at all.
As a consequence, projects often come in over budget. A number of cloud-based project management and workflow apps aim to change that, however.
This Xero-owned and operated project management platform contains four elements:
Cash flow management
PROS: Being a Xero product, it integrates “seamlessly” with the Xero accounting software, along with other third party software, such as Salesforce, Dropbox, Google Drive, ZenDesk and Receipt Bank, plus a number of payroll applications — Smooth Pay, MYOB Payroll (note: not MYOB’s accounting package) and SimplePay.
CONS: Unlike Xero, however, WorkflowMax is pricey; a one-user plan starts at $27.50 per month and can cost as much as $275 a month for a plan for 21-50 users.
Zoho Projects provides planning tools, Gantt charts, timesheets, document management and collaboration tools. Visually, it’s not much, but it’s easy to use. It isn’t as robust as WorkflowMax, but it’s a good tool for smaller businesses. And it’s part of the Zoho ecosystem.
For a Zoho app, there’s a good number of third party apps it integrates with, including Github, Google Drive, Google Sheets, Gmail, Microsoft Office, Basecamp, Dropbox and Slack.
Pricing starts at $25 per month for 20 projects on an “express plan” and tops out at $100 per month for an enterprise plan with unlimited projects; a free, one-project plan is also available.
Fergus is the project management app built by tradies for tradies. Again, like the project management apps before it, Fergus is broken down into three elements:
The tradie-specific features include a GPS tracker and a site visits feature. Fergus integrates with Xero and MYOB AccountRight.
Basic “starter” plans begin at $19 per month, per user (recommended for concreters, plasterers, roofers and small firms) and tops out at $39 per month, per user for the “professional” plan. Sole traders get access to the starter plans for free forever.
ProWorkflow is the project management app that promises to be “the project management software your team will love!”
The features — task management, timesheets, messaging, invoices, etcetera — are standard fare.
But the software has opened up its APIs, so businesses can build their own apps, reports and integrations. It already integrates with Xero, QuickBooks online (and desktop), MYOB AccountRight and Freshbooks. It also integrates with Dropbox, Google Drive and OneDrive.
Basic “solo” plans start at $10 NZD per month, per user; advanced plans cost $30 per month, per user.