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Announcement: MYOB, Xero and QuickBooks Training Manuals now available for sale

Get hired for data entry and accounts payablereceivable jobs with MYOB, Xero & QuickBooks skills

Finally, after 23 years we’re making our training manuals available for sale! Not the ones we created 23 years ago but our latest versions of course. 

Training manuals are an important learning tool for our courses because they contain the step-by-step exercises that the course is based around. Our first release of training manuals covers credit management, accounts receivable, accounts payable, data entry of quotes, invoices, purchases and payments – all the things that most businesses need. 

Purchase yours now and download them instantly. 

Continue reading Announcement: MYOB, Xero and QuickBooks Training Manuals now available for sale

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Announcement: NEW Training Video Libraries for Accounting Software (Xero, MYOB, QuickBooks)

MYOB Accountright & MYOB Essentials online training course video library logo 2

THE DEFINITION OF a training course has changed a lot over the last 20 years. With new online internet technologies comes new ways of learning. The concept of the “micro course” is gaining momentum as students look for information when they need it, known in the industry as “just in time learning”.

There are lots of time and cost pressures for students as they juggle part-time work, kids and mortgage payments. As a result, we’re launching a brand new Online Training Service for past EzyLearn students AND new students — EzyLearn’s Video Training Library Membership.

Continue reading Announcement: NEW Training Video Libraries for Accounting Software (Xero, MYOB, QuickBooks)

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NEW: MYOB, Xero & QuickBooks Training Courses for $20 per week!

Career Academy support for online MYOB Training and Xero Bookkeeping Courses with Accounting Tutors

The payment plan for the MYOB AccountRight COMPLETE Training Course package for $20 per week has proven to be popular and is still currently available. Better still we’ve just launched a payment plan for the Bookkeeping Academy COMPLETE COMBO – that means you can pay a low weekly fee of $20 and receive training on EVERY major accounting program in Australia, from Beginners’ to Advanced!

Continue reading NEW: MYOB, Xero & QuickBooks Training Courses for $20 per week!

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Announcement: New! Course Funding for MYOB AccountRight Training Courses

Learn accounting, office administration, payroll and digital marketing for $20 per week

The dollar is tanking, trade is down, house prices are still going down, consumer spending is the lowest for a decade, wage growth is slow! It sounds pretty bad when you read the news and business articles isn’t it?

One thing I’ve noticed for sure is that course prices are going down and competition is increasing, not just from other physical training centres in Sydney, Melbourne and Perth but also larger US and overseas companies who will promise anything to make a sale!

We’ve always prided ourselves on offering low course prices direct to students and now we’ve gone a step further.

Continue reading Announcement: New! Course Funding for MYOB AccountRight Training Courses

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How We Create a Xero Training Course

Tradies paying for project expenses used in online Xero, MYOB & QuickBooks Online Training Courses

MYOB AccountRight, QuickBooks Online and Xero come with job costing and job tracking functions allowing users to develop more accurate budgets and avoid cost blow outs.

I’m excited to be delving deeper into a micro course specifically targeting how you can manage on-the-job costs and track your project. This will be included in all of our Xero, MYOB and Quickbooks online accounting courses.

Continue reading How We Create a Xero Training Course

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Why is job tracking and project costing so hard using MYOB & Xero?

tradie pouring concrete for concrete slab for garden shed - project and job tracking in cloud accounting bookkeeping training courses (Xero, MYOB, QuickBooks)

In many industries, no two jobs are the same, making estimating job costs and resources tough. Job tracking is one of the best ways to develop an accurate budget and avoid blow outs.

But this can be hard work. Are the latest job costing and tracking functions in MYOB AccountRight, QuickBooks Online and Xero making life easier?

Continue reading Why is job tracking and project costing so hard using MYOB & Xero?

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Should You Send Reports to Late-Paying Clients?

paid on time reports for credit management accounting software

Want to learn how you can really manage late payers? Simply by reconciling more regularly, you can use a “real time” snapshot of your cash flow in your accounting software, rather than relying on your bank balance.

Continue reading Should You Send Reports to Late-Paying Clients?
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How to get an accounting job with no experience

How to get an accounting job with no experience - Xero Course, MYOB Course, QuickBooks Course - find bookkeeping work

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.

Continue reading How to get an accounting job with no experience

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Learn Xero in less than 5 days

Learn how to master Xero in less than 5 days

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.

Continue reading Learn Xero in less than 5 days

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Are You Finding Xero’s New Navigation a Pain in the Proverbial?

Xero short courses, training courses updates - new navigation released in November 2018 - Dashboard, Business, Accounting, Organisation

My first thought when a software company changes its navigation (in a significant way) is that there were issues with the previous version.

THIS BLOG POST comes in the wake of Xero promising to improve their navigation in October 2018. Xero has now subsequently released those changes and our online support team are receiving lots of requests for help!

First and foremost, if you’re an EzyLearn student, please note that we’ve already created an update addressing the navigational updates and this is available in all of our online Xero Training Courses.

Continue reading Are You Finding Xero’s New Navigation a Pain in the Proverbial?

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How Does QuickBooks Compare with Xero?

smiling woman using online quickbooks and xero accounting software

ONE WOULD THINK that an accounting software program that is actually developed by accountants would be the best. However, some believe that the user experience is better with QuickBooks and Xero.

We’ve previously blogged about how QuickBooks accounting compares with MYOB. We’ve also done a comparison of all three accounting programs — MYOB, Xero and QuickBooks.

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.

Continue reading How Does QuickBooks Compare with Xero?

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Xero, MYOB, ERPs and Supply Chain Tools

man-studying-xero-online

ERPs, or Enterprise Reporting Planning systems, are divided into three categories or tiers. Xero, MYOB, QuickBooks and other cloud accounting software used by small businesses, sit at the low end of the scale; they’re tier three ERPs.

Xero is using it’s 3rd party app integrations and its API to climb up the ERP food chain and some good bookkeepers are being dragged up along with it. Continue reading Xero, MYOB, ERPs and Supply Chain Tools

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Reporting in QuickBooks Just Got a Whole Lot Better!

running cashflow reports in xero and exporting to excel

Quickbooks now providing superior options for filtering and scheduling bookkeeping reports

Xero online training course bank feedsONE OF THE BEST THINGS about cloud accounting software is that your data is live, which means, providing your reconciliations are up-to-date, you get a complete snapshot your business’s performance and financial health regardless of the day, week or month you run those reports.

Running regular finance reports is the key to ensuring your business maintains a healthy cashflow, which is also linked to your credit management process and procedures. Previously, the main gripe many bookkeepers and business owners had about QuickBooks was that it lacked the reporting functionality of other apps, like Xero and MYOB.

That’s all changed now that the reporting features in QuickBooks have been given a major upgrade, giving business owners more power and flexibility to monitor their business’s performance. Here are just a couple of the things you can — and should! — do with the updated reports feature in QuickBooks.

Filter sales by services / products

If you’re like a lot of businesses, you probably offer a couple of different products or services, and, like a lot of businesses, there are certain products or services that are more profitable to your business — and, therefore, should be a major focus — to sell.

Now that QuickBooks offers the ability to customise and save any of its reports into your management reports tab, you can filter your customer sales reports by services or products, and also run them across multiple periods. If you have multiple sales people, you can also filter your reports by sales people, too.

Schedule email reports

In addition to being able to customise and save your management reports, so you don’t have to keep filtering out the data you don’t need and adding in the stuff you do, you can also setup a schedule so your preferred reports are automatically emailed to you (and your business partners or other stakeholders) as required.

QuickBooks gives you the option to select which reports you’d like to see, and the frequency at which you’d like them — daily, weekly, monthly, twice a month, or custom. This’ll mean you won’t have to keep asking your bookkeeper to run them for you, nor will you need to go in to run them manually yourself. It’ll also give you a better idea of whether or not your bookkeeper is really paying close attention or not!

Familiarise yourself with customisation options

Here at EzyLearn, we believe Quickbooks has a lot to offer small business and bookkeepers alike. The reporting functions in QuickBooks now offer up seemingly unending possibilities by giving you the flexibility to filter and  customise your reports by any number of variables — sales person, periods, services, etc. Sometimes you don’t know the kinds of reports you need for your business until your go in and have a play yourself, so that’s exactly what you should do.

Maybe you haven’t taken a good look at the capabilities of Quickbooks for a long time — check out the options available with our Quickbooks online training courses to take you up to speed. Alternatively, you can ask your bookkeeper, and they should be able to customise, save and schedule a report that suits your needs to a tee.


What Do You Want to Learn Today?

running cashflow reports in xero and exporting to excel

At EzyLearn we offer online training courses to help you up-skill and find employment. Choose from our range of cloud-based online accounting software courses, to business start up, real estate and investment management courses, to marketing and sales courses, or update and further your skills in a range of Microsoft Office programs, (including Excel, PowerPointWord) or social media and WordPress web design). 


 

 

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Bookkeeping Basics: Payroll and Paying People

EOFY is nearly here — can you manage payroll?

woman studying myob payroll xero payroll quickbooks payroll online training courseIN OUR FREE, EDUCATIONAL GUIDE, Bookkeeping Basics, we feature a section that discusses payroll, which we thought was worthy of being expanded upon on here.

You might also like to go back and revisit our other blog post that complements the free beginners guide, Bookkeeping Basics: Cash vs. Accrual Systems, if you haven’t already.

In this blog I explore some of the rudimentary knowledge for payroll administration jobs.

Continue reading Bookkeeping Basics: Payroll and Paying People

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MYOB Launches Single Touch Payroll Trial Product

LAST WEEK, MYOB LAUNCHED a beta trial of its single touch payroll (STP) product, as it gears up for the July 1, 2018 compliance deadline.

Businesses with 20 or more employees need to have transitioned to the ATO’s Single Touch Payroll initiative by July.

Businesses with fewer than 20 employees have until July 1, 2019 to be compliant but for these small business owners and contractors the ATO has a new free app.  Continue reading MYOB Launches Single Touch Payroll Trial Product

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MYOB, Xero, Quickbooks and the Cloud Accounting Ecosystem

learn intuit quickbooks payroll online training course videos

How the cloud accounting ecosystem has paid off big time:

And how Xero has become the preferred accounting software for Aussies and New Zealanders (Part 2 of 2)

learn intuit quickbooks payroll online training course videos
Although Xero is enormously popular in Australia and NZ, Intuit QuickBooks is backed by a company that dwarfs Xero and MYOB and is huge in the US.

FOR YEARS, MYOB was the Australian market leader in accounting software. Small businesses and accountants spent hundreds of dollars to buy its clunky, obtuse software and load it onto their computers so they could mind their own business (hence, the MYOB) or the business of their clients.

In 2008, the tide began to roll the other way, when an upstart — and a Kiwi upstart, no less — entered the Australian market, two years after it was founded. That upstart was Xero, and it revolutionised the industry, with its software- as a -service approach to accounting systems.

Fast forward a decade, and Xero is now the preferred accounting software in Australia and New Zealand, with 692,000 subscribers compared with MYOB’s 585,000 paid users. (Overall, Xero claims 1.2 million subscribers worldwide.) In the 2016/17 financial year, Xero’s revenue increased 43 percent year-on-year to $295.4 million NZD ($271.7 million AUD); during the same period, MYOB’s revenue increased 13 percent to $370.4 million AUD.

If you’ve been paying attention, you’ll notice Xero has more paid subscribers than MYOB, but its revenue is about $100 million AUD behind. That’s largely due to differences in the price of both products.

So you can’t tell which one of Xero or MYOB is the true market leader — yet.

How Xero is growing their subscriber base

Basically, they’ve reached an impasse. There’s not much opportunity left in Australia and New Zealand (there are other players, like Intuit’s QuickBooks and Zoho competing the same space, too) to grow your subscriber base — unless you’ve a carrot to dangle under their noses that’ll lure them away from your competitor.

For Xero, that carrot has taken the shape of its suite of apps, plug-ins and integrations it’s added to its offering through acquisitions and partnerships — anything that would make Xero a one-stop-shop for small businesses, and help them to extract more value from their customers.

[Xero has lured people away from competitors via their] suite of apps, plug-ins and integrations [they’ve] added to their offering through acquisitions and partnerships — anything that would make Xero a one-stop-shop for small businesses…

Meanwhile, MYOB’s strategy for market share

To its credit, MYOB has pursued a similar strategy, acquiring payment firm PayCorp last year, which followed the launch of the company’s PayDirect Mobile and PayDirect Online payments service in 2014 and 2016 respectively, as part of MYOB’s push into payment processing technology.

MYOB also acquired Reckon’s accounting practice software last November for $180 million AUD. The company said the acquisition was part of MYOB’s strategy to see accountants become business advisors, rather than tax and compliance experts.

MYOB chief executive Tim Reed sees automation as being critical to the company’s ongoing success, as it pursues a “connected practice strategy,” which brings transaction processing, compliance and business advisory together and sees accountants become more like business coaches.

“They will be like personal trainers in the gym, but for business,” he said. “This is starting today. Accountants are already working down this process and what I’m seeing is the pace of change start to increase.”

And unlike Xero, which is simultaneously pursuing overseas markets (the U.K., North America, Southeast Asia), MYOB is content to stay focussed on its home market — Australia and New Zealand. (It’s also pushing deeper into big businesses with its enterprise software Greentree, acquired in 2016.)

Accountants and the cloud accounting ecosystem

With Xero pursuing code-free accounting, MYOB pushing into “connected practices,” and Intuit beefing up its own ecosystem of apps and integrations to simplify the bookkeeping and accounting process for small businesses, where does that leave accountants and bookkeepers?

Better off, actually.

Bookkeeping is a necessary step in the overall accounting process. But it’s the most time intensive one. There’s reconciling bank accounts, entering receipts, coding transactions, invoices, and so on. Small business owners don’t — or won’t — do it, so they outsource it to a bookkeeper or accountant, who has a preferred or in-house bookkeeper.

Despite being a time intensive task, it’s lower skilled work — like untangling a jumble of coat hangers; almost anyone can do it. And so it commands a lower rate of pay than other tasks, like financial forecasting, business planning and filing activity statements.

Automating elements of the accounting process, in particular the coding of transactions, eliminates inefficiencies and time wastage. Bookkeepers and accountants can charge their clients the same hourly rates, but they’ll spend much less time doing it.

More apps, more services

And with access to more apps — like a payroll plug-in — they can begin offering more services.

Just as QuickBooks, MYOB and Xero have become more valuable to their customers, by positioning themselves as a one-stop-shop for small business, accountants and bookkeepers can do the same.

Why would a business need to engage a data entry bookkeeper, a tax or BAS agent, and a payroll company when they can hire just one individual to manage all of these tasks efficiently in one cloud accounting program?

They wouldn’t.

Food for thought: Why would a business need to engage a data entry bookkeeper, a tax or BAS agent, and a payroll company when they can hire just one individual to manage all of these tasks efficiently in one cloud accounting program?

And just as MYOB boss Tim Reed stated: Accountants and bookkeepers have already cottoned onto this.

But it means bookkeepers and accountants need to become more skilled at what they do; they need to possess a greater understanding of a wider array of softwares and systems in order to remain competitive.

And even though Intuit, MYOB and Xero have all acquired or partnered with companies that offer payroll platforms, there are still plenty of third parties businesses can choose to connect to their accounting system — that’s democratised accounting for you — so you need to watch the market, and keep your skills up-to-date.

Where to from here?

The cloud accounting space is certainly in flux. There’ll be more acquisitions, more technologies, and definitely more automation. There’ll also be more global companies, as more businesses export their goods and services overseas — and more fintech companies pursuing growth outside Australia.

KeyPay is one such company. It’s based in Wollongong in NSW, and last December announced it would expand its services to the U.K. — a pre-release was slated for January this year, with a full launch due in April.

According to CRN, the company grew 53 percent last year (though it didn’t specify what or how that “growth” was calculated; as a private company, it doesn’t disclose financials or its share of customers). And KeyPay’s co-founder Richard McLean said the company decided to enter the U.K. market because 60 percent of businesses there outsource their payroll to a third party company.

The company intends to rollout its automated payroll system in the U.K. first, with an Australian launch due later in year, and also plans to expand to New Zealand and Southeast Asia.

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To ensure you have the skills required in an era of cloud accounting ecosystems, code-free accounting and connected practices, we’ve added new modules to our QuickBooks training courses — with training on KeyPal — as part of the QuickBooks Payroll Course. Visit our website for more information or to enrol. We also invite you to read what our students and clients are saying about EzyLearn.