MacDirectory Magazine

Summer-Fall 2009 (#42)

MacDirectory magazine is the premiere creative lifestyle magazine for Apple enthusiasts featuring interviews, in-depth tech reviews, Apple news, insights, latest Apple patents, apps, market analysis, entertainment and more.

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118 MacDirectory COMPANY PROFILE COGNITO SYSTEMS > MAKING SURE MONEY WORKS Although accounting may not be everyone's favorite topic, it is necessary for all businesses – large and small. Consequently, using smart and cost- effective software to get the job completed is imperative. One reliable company that tackles this daunting task in an effective manner is a Canadian-based company called Cognito Systems. Specifically, Cognito Systems publishes a family of business accounting software solutions for small home offices and medium-sized businesses with more than 20 concurrent users. First developed for Mac in 1992 and for PC in 1998, Cognito System's software was first introduced in Canada in 2006 and in the United States in 2008. Today, MoneyWorks accounting software solutions is used in more than 40 countries around the world. MoneyWorks Software Here is a brief summary of some of the company's offerings: Cashbook is a "Cash Based" accounting system, and the transactions are recorded when money is received or disbursed. This product retails for $99. Express is a basic "Accrual Based" accounting solution, and the transactions are recorded instantly. This product retails for $279. Gold is an advanced "Accrual" accounting solution that is multi-user capable (additional licenses are $179 each). Peer- to-peer networking, cost centers, inventory management, the pricing matrix, departmental general ledger, purchase orders, job costing with time sheets are among the items covered with this software. Specifically, the software comes complete with powerful reporting and analysis tools to help your company track important company information. This product retails for $599. Datacentre is the company's "Server" version of the software. This software comes complete with three concurrent licenses (additional users are $299 each). By concurrent, the company means that the application can be loaded on all the computers (Mac or PC), but only three of the computers can access the company's file at any given time. Datacentre is unique in its price range as this software often competes against PC applications that cost $10,000 to $20,000. This product retails for $1,999. What Makes the Software Special? The software is 100 percent cross platform, which Robert Broadhurst from Cognito Systems says is unique among retail accounting software solutions. "Other solutions can import/export across platforms but generally the Mac version and PC versions are different," says Broadhurst. Further, the software can operate in a mixed environment with both Macs and PCs having access to the company file. Competing solutions with a similar feature would be several thousand dollars and would not be in a retail off-the-shelf package, says Broadhurst. Another favorable feature of this software is that MoneyWorks operates seamlessly with other systems. Thus, businesses do not have to buy other items such as a payroll package, CRM or Point of Sale. Conversely, companies can simply use FileMaker, Access, or other programs with MoneyWorks. Therefore, while the company concedes that their software may not be as "pretty" as competing software on the surface, Cognito Systems asserts that it can "do it better, easier and faster." More specifically, the company states that it does "basic, double entry, audit trail accounting very well with a modern, high- performance database engine." Additionally, MoneyWorks is both easy to use and sophisticated. In fact, there is a purpose-designed powerful database system lurking behind the clean user face. For instance, some of the questions that this powerful software can answer include: What was the total margin on sales of this product range last month? Who has not purchased these products? Which wholesale customers purchased this item last year? All in all then, if you are looking for effective and efficient accounting software, the MoneyWorks family of accounting software should be seriously considered. Visit for more information. WORDS BY LARISA REDINS

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