Version 5, the latest software release from New Zealand owned and operated accounting solution provider, Accredo, enhances system security and is one of the first software packages giving customers the ability to electronically file GST returns.

Accredo channel manager Kevin Carberry says Version 5 is scheduled to be released to customers on October 31.

“Customers who have an up-to-date software subscription will be receiving a comprehensive release pack that explains all the new software features,” he says.

“Version 5 includes a range of new functions - and enhancements to existing ones - that will improve the quality of life for both day-to-day users of the software and business owners and managers. Company managers will appreciate the introduction of improved encryption and new single sign-on functionality that will help minimise business risk.

New single sign-on protocols add a second layer of defence to Accredo's existing security system.

This is an optional feature that when turned on streamlines password management and system access.

In a response to growing cybersecurity concerns, Accredo has also added database encryption to Version 5.

“This offers added protection for those customers who store sensitive data, such as bank account details, in their system,” says Carberry.

“Information is saved in an encrypted format and cannot be read by external sources.

New logging functionality in Version 5 will give managers and owners a better ability to track changes made in the system.

“The software can be asked to record key data about changes made to certain fields. It creates an electronic record that can be valuable for auditing purposes.

Those users tasked with filing GST returns will appreciate the software's ability to talk directly to the New Zealand Inland Revenue Department's (IRD) electronic GST Gateway.

Accredo is one of the first desktop accounting software providers to offer customers the ability to communicate electronically with the GST Gateway.

“Filing electronically is the way the IRD wants businesses to operate going forward,” says Carberry.

“This is a future-proofing feature that we have included along with a number of other GST enhancements, such as our new multi-regime tax capabilities, that will reduce paperwork, save time and generally simplify company GST administration.

Enhancements to Accredo's Inventory Control module in the area of batch manufacturing will give businesses more up-to-date and granular information about materials moving from stock to production.

“As usual, we have included improvements that will simplify life for heavy system users,” says Carberry.

“We are always looking to minimise the number of clicks people need to do to find information. Small improvements, such as users now being able to see both current and historical documents in a list on one screen, can add up to significant time saved.

Accredo will be delivering training to its New Zealand and Australian network of Qualified Support People (QSP) prior to the launch of Version 5 and Carberry recommends customers consult their QSP prior to installing the software.

“It is important customers go over the new features and enhancements with their QSP to get up to speed with the changes in the new version. They know the customer's business and will be able to guide them through the upgrade process.