Academy Chartered Accountants Limited
Chartered Accountant
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Accounting Services

So you want your own accounting system?

Part of every business, like it or not, is accounting. If nothing else, IRD likes to know how much they can charge you. But you too should probably have some idea of how you're going.

Accuracy important: Most of our customers have chosen their own accounting system. Some use it for more than others, but in all cases the system has to be accurate. Bank accounts have to be reconciled properly, debtors have to show how much they owe, GST has to show what is owing, and so forth.

We believe in the importance of your system - so much so that we like to get it right first. By doing that with you we also teach you to get it right in the future. This means less effort for both you and us in the long term.

Which system? So which system should you choose? Obviously one which works well for you. We have no interest in selling you a system, so we can remain impartial. (In fact we can supply you with the two most common systems, but we don't make a lot of money by doing this, so if you want to source it yourself, please do so. As we have explained elsewhere, not all systems are created equal. For example, we do not use MS Money - or Quicken (but QuickBooks is fine).

The truth is, most accountants are lined up with a supplier, and will recommend their products. It normally does the job - but is not necessarily the best.

So what particular packages do we like? Well Xero is popular - but requires you to be connected to the Internet to use it. QuickBooks is also popular, and various versions are available to suit most businesses. This does not include smaller brother Quicken. MYOB is well supported in NZ - but is very traditional (i.e. it helps if you understand accounting - e.g. you use account codes). However it does also support Mac users. Moneyworks has something special - it's great for Mac users, and also available for Windows users. Sage seem to come into it's own in multi-user environments, and is just one of many other options.


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