Accounting software - any advice?

[zorba11]

We have been using accounting software called MYOB (for "Mind Your Own Business"!) since starting up in 2002. We found it pretty good, and no real need to review our use of it came up till now, as MYOB has been bought by another supplier called Mamut and all MYOB users are being migrated over to Mamut.

Since we are being forced to change supplier anyway, now is the time to review other options and make sure we're not missing out on a great product somewhere else.

I'm curious to hear what systems others are using, what you think of them, any recommendations etc.

MYOB was client server based, but I like the sound of web-based systems like KashFlow, but not attached at this stage.

What about accounting packages specifically designed for the recruitment sector - are there any? what are they like?

One problem I had with MYOB for example is getting the salary and employers expenses (PAYE, NI etc.) for a temp to appear as a cost of sales rather than a fixed cost. Hopefully an accounting package for the recruitment sector would have ironed this stuff out already...

So in essence 2x questions:

1) anyone recommend an accounting package system for the recruitment industry ?

2) anyone recommend an ONLINE accounting package ?
(but not KashFlow - see below)

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

called up KashFlow with one or two presales type questions:
below are my notes

Q1) does KashFlow do payroll ?

No, but you can use an add-on site that is integrated with KashFlow, see the add-ons on the website.

I followed up and the first one charges £5.75 a mth (£69) for up to 5 employees, and £1 each a month thereafter.

Another is about £11/week, another has a free version and a premium version (£60 pa).

So yes, but not as easy as doing it from the same app.

Q) can KashFlow do multi-currency?

yes, but can only have £ bank accounts
(won't work because we have € accounts in UK for our business with RoI/europe)


= so that's KashFlow ruled out :-(

[zorba11]

just to clarify, we are currently running MYOB Accounting Plus 2009 (its officially v18)

features we are using include:

payroll (weekly, fortnightly and monthly payroll )
multi-currency transactions
multi-currency bank accounts
jobs list
Manage your VAT on both cash and accrual basis
Easily undo bank reconciliations
Produce year end payroll returns and file electronically
Ideal if you have employees or provide professional services
Have more than one concurrent user
Track exchange rates at the transaction level
Buy and sell goods and services in multiple currencies

(some of these pulled off MYOB website !)

..so looking for AT LEAST this feature set ....

[zorba11]

Oh, and ideally it will be a system that our accountant can use to pull out info for returns and also update amendments / adjustments that they might want to make

(I'm not asking for much, am I )

[James Smith]

MYOB is a pretty good bit of kit, first up if it does the job for you why move other than on their upgrade path? Your issues with account codes sound like your understanding of how to set it up/use it, as opposed to any inherent flaw in the system. Recruitment is not a particularly complex accounting area. If it adds up today it will add up tomorrow so don't be too hasty to move on if you are generally happy with it but just need some training on how to make it work better for you.

The only thing that is time dependant and unsupported by MYOB is payroll and quite frankly pretty much all the package payrolls that come bundled with accounting software is poor and very much an afterthought. I mentioned Moneysoft payroll last week which is a good bit of kit for very little money.

If I was you I would discuss your issues in detail with your accountant - that is after all what they are there for. Compatibility with their systems is of course important but most will support all the major software houses. Your comments about Kashflow only having £ accounts also suggests to me you probably don't have the skills to set up a system yourself - there is a very easy workaround here if that is the direction you wish to go in, however be aware of the cost. If you have been using the 2002 version of MYOB no doubt you only paid for it the once, not every month for the past 7 years!

hope that helps a little

Regards,

[zorba11]

now we find out Mamut (the company who bought MYOB in UK, and over to whose product we're being offered a migration) don't even have payroll integrated into their accounting package!

found out we are still on MYOB support till P35 time next year, and maybe even beyond, so I'll stick with it till then anyhow, and see what's on the market at that time

cheers all !!

[wood1e]

Is payroll integrated an issue? If not then there are any number of accounting software out there, Sage, Access, QuickBooks.

Which in software terms are a much of amuchness...So in some ways you might as well stick with the devil you know, presumably it will be cheaper as well?

As for the payroll I use 121pay, which I find incredibly easy to manage. There are other packages out there that I am sure are equally good.

I then run a journal on sage to account for the salaries.

Which is a bind, but nothing to bad.

On the other hand, SAge offer payroll and accounts fully(ish) integrated.

But you pay for it, and have to buy P11d software separately.

Your accoutant may or may not be able to advise as to which software to go with. I have yet to come across a firm of accountants who have the full bredth of kniowledge when it comes to software and will normally just tell you the best software is the one they are tied up with.

Cause at the end of the day they want to make their life easier....and thats not me having a go at accountants, just stating fact.

I always quite liked Access, their customer service and integration with MS Office was always first rate. Althought haven't used theur software for a few years!!

And with your multi currency requirements, I would look at SAge or Access.

The trouble is you will have to pay for it.

[wood1e]

BTW way, you mention a bank account in EUROS from a bank in the UK? Is this a real bank account? or one those holding accounts? ie no cheque book or ATM card?