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Monday, 09 February 2015 12:37

Smart bills coming to MYOB AccountRight this week

By

MYOB AccountRight users will gain the benefits of automatic bill processing later this month.

As previously reported, MYOB planned to extend its smart bills feature from MYOB Essentials to MYOB AccountRight during the first quarter of 2015.

The company is comfortably meeting that timetable, with MYOB general manager of user design and experience Ben Ross announcing today that the feature will be available this week.

The announcement was made at the Melbourne leg of the MYOB Roadshow for accountants, bookkeepers and certified consultants.

Smart bills automates the entry of bills that were either received as PDF files or scanned from paper. Bills can imported by drag-and-drop (convenient when using a PC) or by emailing them (handy for mobile devices as well as computers). Either way, the server OCRs the image, extracts key information (including supplier, invoice number, date, quantity and price) and creates a transaction that the user can accept or correct.

The image of the document is stored with the transaction for later review or to meet retention requirements.

This new feature is also integrated with the MYOB software's ability to look up ABN details automatically.

"If the supplier ABN is not already in your accounts, it will be read from the supplier invoice, validated against the ATO service and automatically added to the supplier details," said MYOB SME solutions general manager James Scollay.

"This allows future bills from that supplier to be automatically matched. This unique feature to AccountRight, provides multiple compliance benefits such as ABN validation, and the electronic storage of source documents.

"In other words, AccountRight users no longer have to keep paper files."

MYOB Essentials Accounting user Margaret Whitfield of My SOS is a fan of smart bills. "Getting bills emailed straight in means that our data entry just happens. This will be great at the end of the year - everything is just there, nothing is lost or misfiled," she said.

In related news, MYOB's Ross also stated that MYOB AccountRight will be SuperStream compliant ahead of the 30 June deadline.

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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.