What works today, and what doesn't
AccountingWorx is in its pilot. This is what to rely on, and what to keep doing elsewhere.
Works today
- Invoices, quotes, credit notes and payments, with GST worked out on every line, and bills, purchase orders and expense claims.
- Bank reconciliation: import your bank statements (CSV or OFX), match them to your books, and use bank rules.
- GST and BAS prepared for you, with every figure traced back to its transactions, and a lodgement checklist. You lodge through the ATO's online services or your registered agent, then record the receipt here.
- Reports (profit and loss, balance sheet, cash flow, aged balances), budgets and report packs.
- Contacts, products, projects, fixed assets and inventory.
- Unlimited users with roles, two-step sign-in and an audit log. Your accountant can be invited with their own login.
- Your data is held in Sydney, backed up nightly, and can be exported at any time.
- Moving from Xero, MYOB or QuickBooks: import your contacts (CSV) and bank statements (CSV, OFX or QIF), and start from a conversion date with opening balances. There is no automatic import of your history.
Not yet
- Live bank feeds. Not connected yet. Import statements instead; feeds are coming.
- Lodging BAS with the ATO from AccountingWorx. Not connected yet. Prepare it here, lodge through the ATO or your agent, and record the receipt. Have your registered agent check the figures.
- Payroll reporting (STP) and super payments. Payroll can work out pay, tax, super and payslips, but nothing is sent to the ATO or to super funds. Treat payroll as a trial and keep paying and reporting wages through your ATO-approved payroll software.
- Multi-currency, advanced analytics, Peppol e-invoicing, SMS delivery. Not built yet.
- Point-in-time recovery and an independent security test. Backups run nightly (so up to a day of entries could be lost in a failure), and an independent penetration test has not been done yet.
Check your figures before you rely on them. See the pilot terms and the privacy policy.