Wednesday, 28 May 2014 18:36

MYOB launches new cashbook cloud solution

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Accounting software provider MYOB has launched a general release of its new Essentials Cashbook cloud solution after completion of a four-month pilot program with more than 200 accounting users.

Part of MYOB’s new Essentials range announced earlier this year, the Cashbook cloud solution is designed to help accountants and bookkeepers as business advisors to work more closely with clients with straightforward accounting needs, and to manage their business on-the-go.

“Essentials Cashbook enables advisors to easily manage ‘cash business clients’ and provide real-time insights into the state of their client’s finances. This can add real value to the client relationship where advisors can make adjustments and provide advice throughout the year – not just at tax time,” said MYOB General Manager Accounting Division Adam Ferguson.

“The solution has been designed to help accountants, bookkeepers and their clients gain back the hours spent on bookwork. Essentials Cashbook is an ideal solution for accounting practices and bookkeeping businesses with start-ups or cash clients who currently use manual ledgers, or desktop cashbook solutions but are ready to move online.

“Over the last four months, Essentials Cashbook has undergone a rigorous beta and pilot testing program to gain the seal of approval. Following the success of the pilot, we have added a number of enhancements to the general release to increase collaboration, improve functionality and extend reporting capabilities.”

Ferguson said the cash flow reporting function has been extended to include detailed source transactions, making auditing and analysis easier. “A profit and loss report, as well as a trial balance report has been added, with plans to include a balance sheet in the near future. In addition, users can now import raw data with all the information needed to setup new accounts.”

“The beauty of the online platform is its ability to allow us to be responsive – we are continually listening to feedback and looking at how we can integrate greater usability and functionality into each release.

“We will be adding more reporting features and further enhancements based on user feedback. We are currently developing the integration of Essentials Cashbook to our accountants practice tool, Client Accounting, to continue to deliver on our common ledger vision.”

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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