Job Costing
ABSS accounting software job costing module allows users to create job numbers and names and enables transactions to be allocated to jobs. This allows the net profit for the job to be calculated after expenses and direct costs are deducted from income. Reports for job costing such as job profit and loss , job transactions can be generated. The job costing module is incorporated in ABSS software at no additional cost.
Xero does not have a job costing module on it’s own base plan, you need to add on xero projects from US$7 for one user per month.
Bank feeds
A bank feed is the transmission of banking transactions into an accounting software. Banking transactions will be created in the accounting software so users can do the bank reconciliation, manage the transaction if it had not been recorded in the books.
ABSS software supports DBS bank for bank feeds at the moment. Xero Accounting software supports DBS, OCBC, HSBC and UOB. Xero has the cash coding functionality that greatly improves the manner in which bank reconciliation can be done by being able to created spend and receive money transactions from transmitted bank transactions.
Connected Applications
Xero has an APP marketplace that allows Xero users to connect to more than 800 applications. These applications relate to areas such as CRM. E-commerce and inventory amongst others.
ABSS does not have an App marketplace as it is not an online software. However, ABSS can connect to analytical tools such as ABSS BI4 Cloud and ABSS webstore for E-commerce.
Budgeting
Xero software allows budgets to be set for the profit and loss only. However, various reports are available such as the budget variance reports that analyses current and previous 3 months , year to date progress, month to date progress, current financial year and actual versus overall budget.
ABSS accounting software allows budget to be set for the profit and loss and balance sheet. A budget analysis that analyses the selected period and the budget can be generated to analyze the variances for both the profit and loss and balance sheet . A multi period budget spreadsheet can be generated for the profit and loss and balance sheet.
