Ostendo and Your Accounting Programme Become One Integrated System
While Ostendo and your accounting system are two separate software programmes they become one integrated Enterprise Resource Planning (ERP) system for operational and financials management.
Ostendo performs all the operational functions such as inventory control, purchasing, job costing, manufacturing, invoicing etc, while the accounting programme is used for;
- Financial Reporting
- Bank reconciliations
- BAS/GST returns
- Accounts Receivable (Debtors), unless payments need to be entered in Ostendo, eg Point-of-Sale (POS). (Not applicable for the link with the MYOB AccountRight Classic versions and Reckon Accounts Desktop or Hosted. Refer to Accounts Receivable below)
- Accounts Payable (Creditors)
General Ledger Mapping
Ostendo performs all of the operational functions of the system and posts General Ledger transactions to the accounting programme based on general ledger mapping rules that are setup in Ostendo.
There are flexible user defined general ledger mapping rules for;
- Branches or Sites
- Income and Cost of Goods Sold
- Labour and Overhead Recovery
- Cost of Sales
- Expenses (where applicable)
Accounts Receivable (Debtors)
Sales invoices are raised in Ostendo for jobs or sales orders and these are posted to the accounting system. Payments for sales invoices can be entered in the accounting system which updates the invoices in Ostendo with the payment applied, or can be entered in Ostendo posts the payment to the accounting system. Customer payments must to be entered into Ostendo for the Point-of-Sale (POS) module. New or modified customer details are synchronised from Ostendo to the accounting system.
When linking with the older MYOB Classic versions and Reckon Accounts the Accounts Receivable functions are always handled fully in Ostendo. This option is also available for MYOB AccountRight Live, Xero, QuickBooks Online or MoneyWorks, in which case journals are posted to the accounting system instead of the sales invoices.
Accounts Payable (Creditors)
Purchase invoices for inventory or job costing are entered in Ostendo for three way matching with the purchase receipt and the purchase order. Alternatively, they can be entered directly against a job or work order if there is no purchase order, such as for job disbursements. Purchase invoices are posted to the accounting system where they are paid. Normal expenses, such as electricity or rent, are entered directly into the accounting system. New or modified supplier details are synchronised from Ostendo to the accounting system.
What Accounting Programmes does Ostendo Link To?
Ostendo has standard accounting links for;
AccountRight Live Versions
- MYOB AccountRight Live Standard
- MYOB AccountRight Live Plus
- MYOB AccountRight Live Premier
QuickBooks Online (Intuit)
- DataCentre (on premise)
- MoneyWorks Now (cloud based)
Reckon Accounts Desktop
- Reckon Accounts Desktop Accounting
- Reckon Accounts Desktop Premier
- Reckon Accounts Desktop Enterprise
- Reckon Accounts Hosted
Ostendo is also able to operate standalone without linking to an accounting programme. Ostendo provides full accounts receivable functionality with ageing and customer payments, but it does not provide accounts payable functionality. Ostendo does not have financial reporting but it can produce a general journal transaction report.
How Ostendo Links with Accounting Programmes
The Ostendo links to accounting programmes through the accounting systems API. The link is live and seamless as long as your internet connection is running. Data is posted from Ostendo to the accounting programme automatically at intervals of a few minutes, effectively providing real time integrated financials.
The exception to this is Reckon Accounts Desktop which links to Ostendo through the Reckon SDK. This links is initiated manually with a few simple steps.