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November 2016 - last edited November 2016 by Suja_P
AccountRight Live is a cloud accounting service that’s the first of its kind in Australia and New Zealand. Available across AccountRight Basics, Standard, Plus and Premier, AccountRight Live gives you the choice of how you do your accounts: on your desktop, in the cloud or both. More importantly, it gives you the peace of mind of making your company’s data more secure than ever before.
How safe is AccountRight Live?
AccountRight Live is both safe and secure. Your files are stored in two locations, on your local drive, and on an MYOB hosted server. All your data is continually backed up so in the unlikely event that a server goes down the data is easily restored.
With AccountRight Live there are three ways to store your account data;
- IN THE CLOUD
Enjoy the convenience of knowing the most current version of your data is saved securely in the cloud, for you and your colleagues to access at any time. You can also choose to work on your files on your desktop during the day, then upload to the cloud at night for added security. Should anything ever happen to your computer – such as theft, fire or loss – your data will always be accessible and up to date.
- TO YOUR DESKTOP
Back up your account data as often as you like to your desktop by saving a local copy whenever you need to. For example, you could do a weekly or monthly back up when you do your EOFY processing. No other cloud service offers this ability today.
- CREATING A SHADOW OFFLINE FILE (the sync file)
Your online company file will be automatically synced to a local sync file on your PC or laptop every 20 minutes. This gives you the convenience of accessing an offline copy of your file if you unexpectantly lose internet connection.
What is an online company file?
Each MYOB AccountRight product is issued with one company file, except AccountRight Premier with two. Company files are also known as company data files, business data files or ‘set of books’. These files contain your accounting data. An AccountRight Live subscription entitles you to one online company file (two for AccountRight Premier), so you can save your accounts in the cloud.
How does the online version of my company file work?
An AccountRight Live online company file is stored on an MYOB hosted server and can be used at the same time by authorised users from any location, using the same version of AccountRight software. For example, while sales are being entered at your business, your bookkeeper can reconcile bank accounts from their location and your accountant can be in their office reviewing financial reports.
How often is my online company file updated when working online?
Anything entered into the online company file is live (meaning it is up to date for everyone using the file). This eliminates the need to set up ‘remote access’ to the company file for anyone off-site, or for copies of the file to be sent out for changes and manually synced later; both can pose security risks, and cost more time and money.
How do I work offline?
For tasks that need to be completed when you’re not connected to the internet, the check-out, check-in functionality means you can activate the offline copy of your accounts on your PC and keep working – this locks the live version of your data to other users until the local copy is checked back in. Checking in the file will upload the changes to the cloud.
How often is the online file synchronised to the offline file?
You can manually sync your local file at any time; otherwise the offline sync file is automatically synchronised to the live file every 20 minutes. The synchronisation process requires you to be logged into your online company file.
Who can back up files both online and locally?
Everyone who has access to the online file can back it up and restore the backup locally at any stage. Only AccountRight Live Administrators can restore a file online.
What are the benefits of keeping an offline file synchronised to the desktop?
You might want to view your file when there is no internet connection available, for example on a flight or if a sales person is on the road and needs to view account information. A check-out is all that’s required, as only the changes to the file will be transferred when you check the file back in. Also in case of an emergency, for example if the internet drops out, there is the ability to work offline and access a read-only copy of your company data.
Can I create a local backup of my cloud based files?
You have the ability to create your own local backups of the cloud data. This can be particularly important as it allows ‘point in time’ backups. It can be helpful to take backups before key tasks are done, for example if you have to import large price updates, process payroll or complete rollover.
What happens if I lose my internet connection?
If you have synchronised a local copy of your online file, you can refer to this copy and view it as a ‘read-only’ file until you are again able to access the internet. Instructions can be found here. To keep working on the file, however, you will need to contact another user to check-out the file and then later check your changes in again once you are back online. This means no-one else can write to the file during this time. Instructions can be found here.
How do I control access to my data?
You manage the access to company files hosted on AccountRight Live through your my.MYOB personal management portal. This means that to access the data online, a user must be both an authorised user of a company file and have the authority and password to log in to the file online. You have full control over who you give access to and can add or remove users as needed. You can also choose to nominate AccountRight Live administrators to help manage the online company files, as well as manage the access for co-workers, advisors or accountants.
If you have any further questions, please contact us. We are available seven days per week.
by Liam_M on December 2016