Mamut unveils fully hosted 'virtual accounts office'

Mamut, the business software group, has closed a deal that will allow small
businesses to outsource their entire accounting and finance function.

The deal, with the International Association of Accountants Innovation and
Technology Consultants, will see the launch of the managed accounting service
known as Virtual Accounts Office (VAO).

Mamut said the service would allow SMEs to have their accounts managed by an
established firm of chartered accountants and registered auditors familiar with
international accounting standards and Sarbanes Oxley requirements.

The service is fully hosted and delivered over the internet, allowing it to
be used by businesses anywhere in the world.

‘The VAO service allows SMEs to focus on their core business, rather than
spending time on routine financial administration,’ said Alan Moody, managing
director, Mamut UK and Ireland. ‘This will help new companies to grow, but also
assist established SMEs to streamline their operations.’

VAO takes charge of all core accounting functions including sales ledger,
invoicing, purchase ledger, cashbook and nominal ledger.

Customers can take advantage of electronic invoice handling, sales and
purchase order processing and credit control.

VAO can also handle a number of compliance issues that need to be addressed
by all companies, including VAT, statutory accounts, auditing, corporation tax,
payroll bureau and annual returns.