Improve accounting technology with measured, reviewable changes: Use the ATO's free record-keeping evaluation tool to check which records you need.; MYOB: editing a bank rule does not change previously matched or allocated transactions.; Before and after, measure preparation, review time, corrections and unresolved items.
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GST & Reporting

Accounting technology improvement

Find costly accounting handoffs, test a focused change and measure both time and record quality before expanding it.

Desk Compliance & GST · · 6 min read

Improve accounting technology by choosing a specific problem, measuring its current cost and checking a focused change against the accounting result. Start with work that repeatedly delays the close, requires re-entry or leaves an unexplained balance. Saving time matters only if the records remain accurate and reviewable.

A bounded accounting technology improvement cycle

  1. Define the problemChoose work that delays the close, requires re-entry or leaves an unexplained balance.
  2. Check required recordsConfirm the workflow supports tax, superannuation, GST and business records.
  3. Name the ownersAssign approval of the accounting outcome and implementation and monitoring.
  4. Write the expected resultState which source items should reach the ledger and how a reviewer will compare.
  5. Test settings and exceptionsCheck matching settings, rules and representative exceptions.
  6. Measure time and qualityCompare preparation, review, corrections and open items before and after.
  7. Keep evidence and reviewRetain procedures, settings, checks and exception owner; review affected records.

Find the work that needs attention

Ask the people who enter, review and use the accounts to describe a recent reporting cycle: where they waited for a file, which figures they copied between systems and which exceptions required an adjustment. Follow a few items from source record to ledger and report.

Keep the problem statement narrow. “Improve reconciliation” is difficult to act on. “The team retypes card settlement totals and then investigates differences” identifies a handoff and a result to check.

Record / Question

Trigger and owner
What starts the task, and who completes it?
Effort
How much active work and waiting does it take?
Error or delay
What needs correction, and what does it hold up?
Evidence
Can a reviewer trace the result to its source?
Proposed change
Is a clearer procedure, setting, connection or new capability needed?

Australian businesses must keep records of transactions relevant to their tax, super and registrations, including applicable sales, expense, bank and GST records. A ledger summary should remain explainable from the records behind it.

Diagnose the workflow before changing software

  • Trigger and ownerWhat starts the task, and who completes it?
  • EffortHow much active work and waiting does it take?
  • Error or delayWhat needs correction, and what does it hold up?
  • EvidenceCan a reviewer trace the result to its source?
  • Proposed changeIs a clearer procedure, setting, connection or new capability needed?

Check the records the workflow must support

Use the Australian Taxation Office’s free record-keeping evaluation tool to check which records your business needs and how well it is keeping them. Records must be in English or easily translated into English. Required records can depend on the business structure and include employee and contractor records.

Choose a change with a clear owner

Check how the current process is used before changing software. A repeated copy might disappear when staff share the source report consistently; a rule might need a narrower condition; a connection might need renewed access or a corrected mapping. Name the person who approves the accounting outcome and the person who implements and monitors the change.

Write the expected result before changing settings: which source items should reach the ledger, how they will be identified and what a reviewer will compare. Include an exception, such as a refund or repeated delivery.

Check what the actual product, subscription and permissions support. For example, MYOB says editing one of its bank rules does not change transactions previously matched or allocated under that rule; affected history needs separate review.

If an essential requirement still cannot be met after a bounded assessment of the current setup, record the gap for a replacement assessment. That later decision must account for conversion, training and operating work as well as features.

Check automation settings and exceptions

When testing a rule-based change, check the actual matching settings as well as the rule itself. MYOB says automatic matching requires the “Match to MYOB records” setting and only matches a transaction automatically when an exact match is available. AccountRight users in a browser can also control “Match to invoices and bills”; changing that preference also changes it in AccountRight software.

For transactions that vary in description or amount and cannot be matched by an automatic rule, MYOB describes an allocation template: a rule without conditions that can be chosen for any transaction. Test the proposed method against representative items and exceptions, then confirm that the resulting allocation is reviewable.

MYOB automation settings to check

  • Match to MYOB recordsRequired for automatic matching.
  • Exact matchAutomatic matching occurs only when an exact match is available.
  • Match to invoices and billsChanging the AccountRight browser preference also changes it in AccountRight software.
  • Allocation templateA rule without conditions can be chosen for transactions that vary and cannot be matched automatically.

Measure the whole result

Before the change, record the period, workload, active preparation and review time, corrections, unresolved items and approval date. Measure the same work afterwards, including time spent checking automated results and resolving new exceptions. State any difference in volume or unusual work between periods.

Review quality alongside time: did the reconciliation agree with the dated bank record, can another person find the source for a sampled entry and do open items have owners? A change may move work from entry to review, so count both. It may also reduce errors even when the time saving is modest.

Before-and-after measurement checklist

  • Period and workloadRecord the period, workload and any unusual work between periods.
  • Preparation and review timeCount active preparation and review time.
  • Corrections and unresolved itemsTrack corrections and unresolved items.
  • Approval dateNote the approval date.
  • Automated result checksInclude time spent checking automated results.
  • New exceptionsInclude time resolving new exceptions.
  • Bank reconciliation qualityCheck whether the reconciliation agrees with the dated bank record.
  • Traceability sampleCheck whether another person can find the source for a sampled entry.
  • Open item ownersCheck whether open items have owners.

Include record-keeping outcomes

Good records can help a business monitor its financial health, make decisions, demonstrate its financial position to lenders, manage cash flow and meet tax, superannuation and employer obligations. Identify which of these outcomes the change is intended to support, then include a relevant check in the review.

Keep the change in operation

Retain the old and approved new procedures or settings, the checks used and the exception owner. Review the first affected cycle, and identify any earlier records the old configuration may have touched for separate review.

Protect the records behind the workflow

The ATO recommends digital record keeping where possible. It accepts electronic images of paper records when they are a true and clear reproduction of the original and follow record-keeping rules. Once an image is saved, the paper copy need not be kept unless a particular law or rule requires it.

Store records so they are protected from change or damage. For digital records, the ATO says to keep backups and, if possible, use secure off-site storage. The business should be able to access the device and passwords, control the information processed, entered and sent, and have a backup in case of computer failure.

Record-keeping and evidence protection

  • Digital record keepingThe ATO recommends digital record keeping where possible.
  • Electronic imagesAccepted when they are a true and clear reproduction of the original and follow record-keeping rules.
  • Paper copiesOnce an image is saved, the paper copy need not be kept unless a particular law or rule requires it.
  • Storage protectionStore records so they are protected from change or damage.
  • Backups and off-site storageKeep backups and, if possible, use secure off-site storage.
  • Access and controlThe business should access the device and passwords, control information processed, entered and sent, and have a backup in case of computer failure.

In this guide

  1. Auditing manual spreadsheet handoffsTrace spreadsheet inputs, formulas, versions and outputs to find risky accounting handoffs and decide what to correct.
  2. Measuring time saved in monthly reconciliationDefine reconciliation work consistently, compare active time across similar months and check that quality has not slipped.
  3. Reviewing recurring integration errors with the responsible ownerPrepare evidence for a recurring integration fault, assign technical and finance decisions, and verify that the fix holds.
  4. Choosing reconfiguration before replacing the accounting systemDiagnose a specific accounting-system gap, check a supported repair and document when replacement merits assessment.

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