Accounting Apps Podcast| formerly Cloud Stories | Accounting Technology Heather Smith | Accountant & Storyteller

Heather Smith and Tyler Caskey discuss feature and functionality releases, new integrations, pricing adjustments, and acquisitions in the Accounting Apps space during March, April, May ‘24.
Today I’m speaking with Tyler Caskey Partner at The Bean Counters. In this episode, we talk about . . .
News and updates from Xero, QuickBooks & MYOB were discussed, including new features, integrations, pricing changes, and acquisitions
Stories from the Inventory management space, including pain points and promising solutions explored
Practice management tools for accounting firms featuring FYI Elite: Combined document, employee, and practice management solution.
Apps recommended for both work and personal use, such as donate blood and seven rooms
Lightyear acquisition by The Access Group analysed for hospitality industry benefits
Synder & Cin7: Integration for seamless inventory and financial management.
Fathom Reporting: Compare Actuals YTD + Budget against the Full Year Budget reporting.
Calxa Features: Bulk Connections for multiple Xero organisations, and Sub-Accounts for detailed financial tracking.
Finlert’s SubSync: Integration between Stripe and Xero.
A2X Accounting: New Settlements and Payouts page for e-commerce transaction reconciliation.
BOMA Marketing AI: Content Assist for customising marketing content.
Sharesight: Enhanced trade file upload functionality.
Netgain: Automates repetitive back-office tasks, specialises in ERP software solutions.
NetSuite Updates: Enhanced inventory transfer settings, batch payment approval workflows, and options to mask company bank account numbers in electronic payment files.
New apps we’ve tried recently and a few personal favourites
Follow up on stories from the last episode.
WorkflowMax by Xero Retirement: Last day to access is 26 June 2024. Users need a migration plan now!
Xero New Invoicing: Heather has switched to New Invoicing! But Tyler switched back to Classic invoicing.
 
Many thanks to the sponsors of todays episode:
Employment Hero  Fathom Reporting XBert  
Contact details:
Tyler Caskey https://www.linkedin.com/in/tylercaskey/ 
Accounting Apps newsletter: http://HeatherSmithAU.COM
Accounting Apps Mastermind: https://www.facebook.com/groups/XeroMasterMind 
LinkedIn: https://www.linkedin.com/in/HeatherSmithAU/ 
YouTube Channel: https://www.youtube.com/ANISEConsulting 
X: https://twitter.com/HeatherSmithAU 
 

Today I’m speaking with Adam Riches, CEO & Co-Founder of Netgain
In this episode, we talk about . . .
- Adam Riches discusses the new lease accounting standards IFRS 16 and ASC 842, and how Netgain helps clients navigate the complexities
- Riches shares how Netgain automates lease data extraction from contracts using AI to save accountants time
- The challenges of managing cash flow visibility and bank reconciliations for businesses are highlighted
- How Netgain's tools like its close module help speed up the month-end close process and improve data quality
- The history of accounting software development is examined, from mainframes to Excel, and how Netgain aims to continue innovating
- Potential applications of AI in accounting are explored, such as automating bookkeeping tasks and catching previously overlooked errors
Contact details:
 
Adam Riches linkedin.com/in/adam-riches-cpa
Netgain: https://www.netgain.tech/ 
Accounting Apps newsletter: http://HeatherSmithAU.COM
Accounting Apps Mastermind: https://www.facebook.com/groups/XeroMasterMind 
LinkedIn: https://www.linkedin.com/in/HeatherSmithAU/ 
YouTube Channel: https://www.youtube.com/ANISEConsulting 
X: https://twitter.com/HeatherSmithAU 
 

Today I’m speaking with Sarah Lawrance, Founder & CEO of Hot Toast. In this episode, we talk about . . .
- Sarah Lawrance shares her journey from childhood fascination with business to becoming a Certified Practicing Accountant (CPA) and founding her firm Hot Toast
- Lawrance discusses her formative career experiences in Australia, London and fast-growth startups, and the inspiration for starting her own business
- Sarah describes her role as a CFO for rapidly growing businesses, helping clients scale through advisory services, reporting, and finance team development
- Sarah integrates technologies like G-Accon and SYFT to deliver data insights, and sees opportunities in AI and machine learning
"I'm a big fan of G-Accon. I really love that tool. It's such a beautiful little connector that we pull lots of data out. We use it with Google Sheets. The creatives love Google Sheets, and they love zeros. So to be able to just link those two up and then kind of manipulate those into our own kind of models is a massive win for us."

- When she could not find an age appropriate soccer club, she started her own women's soccer team. The team has since expanded to over 100 members in the eastern suburbs of Sydney.- Frustrated by a lack of female board opportunities she co-founded the Global Women's Accounting Influencers community
- The conversation covers mentoring the next generation, leveraging networks, and the power of community in the accounting industry
 
Contact details:
Sarah Lawrance https://www.linkedin.com/in/sarah-lawrance-fcpa-83894516/
Hot Toast : https://hottoast.com.au/ 
Accounting Apps newsletter: http://HeatherSmithAU.COM
Accounting Apps Mastermind: https://www.facebook.com/groups/XeroMasterMind 
LinkedIn: https://www.linkedin.com/in/HeatherSmithAU/ 
YouTube Channel: https://www.youtube.com/ANISEConsulting 
X: https://twitter.com/HeatherSmithAU 

- Heather Smith moderates a debate between accounting software pioneer Michael Wood and tech strategist John Toon on the pros and cons of Excel vs Software
- Michael argues that while Excel excels for individual tasks, software is better suited for collaboration and building efficient workflows for businesses
- John counters that users, not the tools, are often to blame for Excel's downfalls, and that Excel can effectively replace basic accounting tasks for some clients 
- The debate weighs the impact of tools on practice efficiency, profitability, and eventual sale value, with both sides acknowledging Excel's enduring relevance alongside advancing software
- Listeners are polled on the winning side to much debate, highlighting the complexities of choosing the right tools for each accounting need
Michael Wood https://www.linkedin.com/in/michaelwood/ 
https://www.translucent.io/ 
 
John Toon https://www.linkedin.com/in/johntoon/ 
Podcast https://digitoolsinaccrual.world/ 
Community https://www.digital-disruptors.com/ 
Beever and Struthers https://www.beeverstruthers.co.uk/ 
Contact details:
Accounting Apps newsletter: http://HeatherSmithAU.COM
Accounting Apps Mastermind: https://www.facebook.com/groups/XeroMasterMind 
LinkedIn: https://www.linkedin.com/in/HeatherSmithAU/ 
YouTube Channel: https://www.youtube.com/ANISEConsulting 
X: https://twitter.com/HeatherSmithAU 
 

Today I’m debating Samuel Green, UK Partnership Account Executive of Employment Hero on AI vs the human touch in accounting at the Festival of Accountants and Bookkeepers
- Smith argues the human touch is crucial for customer service and empathy while Greene emphasises AI's potential for efficiency and insights  
- Both agree AI can streamline repetitive tasks but human oversight is still needed
- Attendees question how AI will evolve and what to consider when choosing software
- Smith encourages evaluating long-term roadmaps and support while Greene discusses AI use cases at Employment Hero
- They find consensus that selective AI use can enhance but not replace the human experience in client relationships
Write up from the debate
AI and the case for the human touch
https://www.accountingweb.co.uk/tech/accounting-software/ai-and-the-case-for-the-human-touch 
 
Samuel Green https://www.linkedin.com/in/samuelgreen14/
https://employmenthero.com/
Contact details:
Accounting Apps newsletter: http://HeatherSmithAU.COM
Accounting Apps Mastermind: https://www.facebook.com/groups/XeroMasterMind 
LinkedIn: https://www.linkedin.com/in/HeatherSmithAU/ 
YouTube Channel: https://www.youtube.com/ANISEConsulting 
X: https://twitter.com/HeatherSmithAU 

Heather Smith shares interviews from the Festival of Accountants and Bookkeepers in Birmingham, including conversations about launching a UK version of XBert, the funding journey of a founder, updates on Sage products, and Richard Sergeant's advice for vendors. Insights cover compliance, automation, growth and more.
- Interview with Will Rush  - GM(UK) for XBert discussing launching their platform in the UK
- Conversation with Lucy Cohen - Co-founder and CEO of Mazuma, about starting her business and her recent funding journey (Featuring Alex Falcon Huerta)
- Updates on BrightPay payroll from Donal Carr - Senior Account Executive Bright Software
- Overview of Sage's offerings for accountants from Chris Downing - Director of Product Marketing | Accountants and Bookkeepers Sage
- Richard Sergeant - Managing Director Principle Point shares tips for vendors working with accountants
- Mark Lee Facilitator BookMarkLee.co.uk 
Contact details:
Accounting Apps newsletter: http://HeatherSmithAU.COM
Accounting Apps Mastermind: https://www.facebook.com/groups/XeroMasterMind 
LinkedIn: https://www.linkedin.com/in/HeatherSmithAU/ 
YouTube Channel: https://www.youtube.com/ANISEConsulting 
X: https://twitter.com/HeatherSmithAU