The accounting software provider has revealed that it is currently testing an innovation of its BAS transaction processing software with a closed group of BAS agents and bookkeepers, with the finished product set to go to market by the end of the first quarter.
The new software will allow tax and BAS agents to manage BAS work for multiple clients, including a snapshot of the transaction coding status without going into a client’s file; the ability to query transactions in bulk and see the status of an upcoming BAS; and click through to online lodgment all on one screen.
“When we announced it recently, we got cheers and applause because that’s something that has been painful where they’ve had to do the bookkeeping and then switch and do the BAS which is quite a separate process so lining it together is quite a major step forward for accountants and bookkeepers,” said MYOB general manager of products, David Weickhardt.
“Our key goal is to create more joyful moments for accountants and bookkeepers and remove pain points for them. Often this means we need to minimise time spent on the repetitive, labour-intensive tasks.”
Mr Weickhardt said the beta test would allow the firm to better streamline the process before putting it to market, and comes as MYOB looks to invest heavily in R&D.
“We’re spending close to a $100 million on R&D and that’s up from around $45 million from four years ago so we’ve more than doubled our spend,” said Mr Weickhardt.