Cheyney Group Accounting Software Review: Dear QuickBooks, I’m Breaking Up With You. It Isn’t You…It’s Me, The Cloud & ERP

Dear QuickBooks,

I am breaking up with you.

It isn’t you.

It’s me…

I have grown.

I am not the same small business I was when we met.

I have different needs, expectations and ambitions.

I appreciate everything you did to organize my payroll.

I thank you for every balance sheet.

You made me a better small business.

It’s just…

I am not a small business anymore.

I know there is a new small business out there waiting for you!

I will never forget you…

Fast Growing Business

Breaking up with QuickBooks…

Realizing your business has grown beyond the functionality and capabilities of QuickBooks is bittersweet. You realize you need a better way to create consolidated financial reports and the flexibility to format reports to meet your requirements. You admit your invoicing is too simplistic and needs to be upgraded to accurately reflect your services. You are running most of your reports in Excel, not QuickBooks, and you are spending too much time on manual entry of data into multiple systems.

You’re a growing company and want to keep it that way, but your auditors are consistently complaining – begging you to keep tighter internal controls and do a better job at tracking expenses. You are seeing the increasing need for real-time visibility into your financials. Plus, your Customer Relationship Management (CRM) system can’t communicate with QuickBooks, resulting in yet more manual inputting – and a less comprehensive overview of corporate activities.

You can deny it no longer.

The time has come…breaking up with QuickBooks is inevitable.

Good news, it doesn’t have to be painful!

Graduating from QuickBooks to cloud financials and accounting can be done by transitioning to a Software-as-a-Service (SaaS) solution designed with financial management functionality. The move to life with cloud-powered SaaS alternatives can boost productivity by giving 24/7 access to financial documents, reports and milestones.

You will find you will improve cash flow by automatically capturing billable time and expense – plus accelerate billing. You will decrease errors and boost operational productivity by integrating project activities with project accounting.

A departure from life with QuickBooks, cloud accounting solutions allow you to access your true cash flow any time of the day or night – 24/7. You can take better control of your accounting by reviewing your real-time finances. This means you can manage your finances on the go and never miss the opportunity to correct an issue, send an invoice or monitor accounts payable.

Best yet, you can easily collaborate with colleagues and accounting professionals in real-time on financial reports. Many cloud accounting software solutions integrate with other business apps too, allowing you to use a variety of tools to run your business better. The access to real-time data afforded by cloud accounting software gives you total financial management and tracking power over your cash flow – with up-to-date views of daily financials at your fingertips. With time-consuming, manual tasks removed from the equation, you and your team can be more productive and focused on the most important task at hand – managing and growing a great business.

So, if the time has come for you to break up with QuickBooks, do not worry. Moving on with a robust, cloud accounting solution will help take your business to the next level. You are going to love having real-time views of your financials and the perks of cloud collaboration as you share documents and review reports 24/7 with colleagues and accounting professionals. QuickBooks served its purpose for your growing business. Now, it’s time to power your financial reporting with technology solutions and cloud-based accounting alternatives that can graduate your business to higher levels of productivity and administrative performance.

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Cheyney Group Accounting Software Review: County Board OKs Accounting Software

After tabling discussion last month, members of the Montgomery County Board unanimously approved spending $57,875 on new financial and payroll software as part of their regular monthly meeting on Tuesday morning, Feb. 10, at the Historic Courthouse in Hillsboro.

Board members Mike Webb and Bob Sneed were absent from the meeting.

Finance Committee Chairman Megan Beeler said she tabled the motion last month because she felt there were some details that still needed to be ironed out. This month’s motion featured an approval to purchase both the financial and payroll software from Zobrio, but the committee decided to hold off on the human resource and time keeping modules. Zobrio has agreed to lock in the same price for up to six months if the county decides to add the human resource or time keeping modules.

Board member Heather Hampton+Knodle asked if that price lock was included in the contract, and Beeler said it’s not because it’s not part of the proposal. Dave Penrod of Zobrio was present at the meeting and guaranteed to board members he would offer them that same price.

Board member Ron Deabenderfer asked about the advantages of the new software program. Beeler said the county is currently paying for a software system, and this one will improve the county’s accounting ability and improve efficiency.

“It offers better payroll and inventory tracking,” said Treasurer Ron Jenkins. “It brings us out of the Stone Age.”

Board Chairman Roy Hertel said the county employees tried two new software companies and they preferred the Zobrio software, and Jenkins added that it’s very user friendly.

Board member Mike Plunkett said the software does have an annual maintenance agreement, but will cost $9,000 a year less than maintenance on the current software.

“Basically, it will pay us back in six years,” Plunkett said.

He added that the board budgeted $80,000 for the project and will come in well under that.

Consent Agenda

Under the consent agenda, Supervisor of Assessors Ray Durston reported he hired a new GIS technician, Cassidy Younker of Stonington. Durston said she is catching onto the new job very well and will attend training next week.

County Clerk Sandy Leitheiser said her office has been collecting fees under the Rental Housing Support Program. The state charges $9 for every recorded document and the county has collected $430,326 since the law’s inception in August 2005.

“The intent was to serve low income housing,” Leitheiser said. “I have been trying to advocate to get those dollars returned to Montgomery County.”

She said that the CEFS program and CEO Paul White applied to receive some of that funding, and has brought $117,168 back to Montgomery County since 2012.

“We’d like to see it all come back here, but this is a good start,” Leitheiser said.

Cheyney Group Accounting Software Review: Saba Software to Be Taken Private

Saba Software, a troubled cloud-computing firm based in Silicon Valley, has agreed to be taken private by Vector Capital for about $300 million.

Vector, a private equity firm that had previously provided a loan to Saba, will pay $9 a share for Saba, which was delisted from the Nasdaq in 2013 and is currently traded over the counter. Including debt, the deal is valued at about $400 million.

Vector’s offer price was just below Saba’s share price until Tuesday afternoon, when trading in Saba shares picked up and leveled off at $9 a share.

Saba was delisted from the Nasdaq after it was forced to restate earnings following an accounting fraud scandal. Also on Tuesday, two former chief financial officers of Saba agreed to return nearly a half million dollars in bonuses and profits from stock sales that they received while the company was said to be misstating earnings.

After the scandal, Saba hired Morgan Stanley to explore strategic alternatives.

“Over the course of Saba’s comprehensive review, the board of directors and our advisers evaluated a wide range of strategic alternatives, and engaged with a number of parties,” said Bill Russell, Saba’s nonexecutive chairman. “We are pleased to have reached this agreement with Vector, which provides significant cash value for our shareholders.”

Saba makes cloud-based software that helps companies with hiring and talent management.

Vector, a firm that specializes in technology, has in the past also invested in WinZip, LANDesk Software and Register.com. Vector recently sold SafeNet to Gemalto for nearly $900 million.

“Vector, along with some of the world’s premier financial institutions and investors, is excited to help Saba move beyond its financial restatement process and put the focus squarely on the company’s innovative cloud talent-management platform and its blue-chip customer base,” said David Fishman, head of private equity at Vector Capital.

Saba received financial advice from Morgan Stanley and legal advice from Morrison & Foerster. Shearman & Sterling provided legal advice to Vector.

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