Chapter 1: Insights from Tyler Caskey on Accounting Apps

In today’s episode, I’m joined by Tyler Caskey, a partner at The Bean Counters, as we delve into recent developments in the accounting apps sector throughout March, April, and May.

We cover a range of topics including feature releases, new integrations, pricing changes, and acquisitions that have emerged in the accounting software landscape.

Section 1.1: Key Highlights from the Accounting Apps Space

In this segment, we share noteworthy updates from major players like Xero, QuickBooks, and MYOB. We discuss their latest features, integration options, pricing modifications, and recent acquisitions that could impact users.

As we explore the inventory management sector, we highlight challenges faced by businesses and potential solutions that show promise in alleviating these issues.

Subsection 1.1.1: Practice Management Tools for Accountants

We also examine practice management solutions tailored for accounting firms, featuring the FYI Elite platform, which combines document management, employee oversight, and practice management functions.

Chapter 2: Industry Trends and Innovations

In our first video, “Accounting Tech Updates May'24: 🛠️Exploring Inventory, Practice Management, and Must-Try Apps,” we dive into exciting new features and integrations within the accounting technology realm.

The second video, “Integrating an Online Store Plus Inventory Management Plus an Accounting Solution,” discusses the seamless integration of e-commerce platforms with inventory management and accounting systems, providing valuable insights for business owners.

We also discuss the acquisition of Lightyear by The Access Group and its implications for the hospitality industry, alongside the integration capabilities of Cin7 for efficient inventory and financial oversight.

Fathom Reporting is highlighted for its ability to compare year-to-date actuals against full-year budgets, while Calxa introduces features for bulk connections across multiple Xero accounts and detailed financial tracking through sub-accounts.

Finlert’s SubSync is recognized for its integration between Stripe and Xero, enhancing transaction reconciliation for e-commerce businesses. Additionally, A2X Accounting showcases new settlements and payouts for streamlined e-commerce transactions.

Lastly, we cover BOMA Marketing AI’s content assistance for tailored marketing strategies, and Sharesight’s improved functionality for trade file uploads. These tools aim to automate repetitive tasks and specialize in ERP software solutions.

This episode is proudly sponsored by Employment Hero, Fathom Reporting, and XBert. We also touch on updates from our previous episode, including the retirement of WorkflowMax by Xero, which will conclude on June 26, 2024, emphasizing the need for users to create a migration plan promptly.

Furthermore, we discuss the transition to Xero's new invoicing system, with Heather making the switch while Tyler opts to remain with the classic invoicing format.