About CASHLogix™
CASHLogix is a pioneering, web based user interface between the company and
their remotely stored and managed accounts. The application is deployed on
the ASP
model so
no accounting software or knowledge is required by the user.
It is designed for the SME market where companies can not afford to employ
a full time accountant or they just wish to outsource the accounting functions
but still want clear and accurate information on demand.
A gap in the market was identified. Traditionally there
are 2 options for doing the company accounts, either you do it yourself or
outsource it to the accountants. By doing it yourself, you would first need
to buy the “right” software that fits your company profile and
level of accounting knowledge. And with the myriad of applications on the market
most companies go for the easy and cheaper option and opt for Sage Line50,
designed for the SME sector. These accounts need to be audited by a Chartered
Accountant at year end for filing, and they may also provide period end reconciliation
and management accounts. This can prove rather costly as an Accountant will
usually charge the same hourly rate whether it is for audit work or account
management. You can however do your own VAT returns as most software now have
the routines automated.
By outsourcing the whole function to your Accountant, you will obviously
same on the purchase or licensing of software. However this will be the most
costly option as your accountant will be required to do all the data input,
bank reconciliation, trial balances, period end routines, management accounts
and year end audit.
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