The product, called SyncDirect, allows accountants to streamline data collection regardless of the SME accounting software their clients choose to use.
According to Reckon, the product gives accountants the freedom to recommend different SME accounting software packages based on what's best for their clients, rather than on what would be most convenient for the accountant to capture client data for their own systems.
Sam Allert, Reckon's managing director for Australia and New Zealand, said the new tool cuts out the laborious manual data entry associated with incompatible client systems.
“Accountants can give their clients freedom of choice to use the accounting software that most suits their needs, while still maintaining efficiencies and cost-effectiveness in their practice,” Mr Allert said
“Additionally, with automated data transfer and availability of real time data, SyncDirect allows accountants to act as virtual CFOs for their clients, providing the means for additional revenue streams and business diversification opportunities which are so important, particularly with the compliance changes the industry is experiencing.”
Caroline Wilcher, director at Boyce Chartered Accountants – which has taken part in a pilot program trialling SyncDirect – said the tool has created extra capacity for the firm to focus on their consolidated reporting processes, as well as increase the time they are able to spend on client-value offerings such as monthly management reports.
“The ability of SyncDirect to retain mapping information across years is a big drawcard for us,” Ms Wilcher said.
“It means we map once, then only need to deal with exceptions from then on,” she said.
“This really reduces the cost of production in year two, and if the source changes we can simply re-push that data into SyncDirect at the click of a button. This is particularly useful for interim reporting, or where clients make changes to their data.”
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