Watchful Eye

Watchful Eye is a software solution designed to assist businesses in managing their internal controls by providing visibility and analysis of accounting system data. According to the vendor, this solution is specifically tailored for small to medium-sized businesses and is suitable for professionals in various industries, including accountants, financial managers, bookkeepers, and those in retail and professional services. By using Watchful Eye, businesses can gain insights and ensure compliance with internal control processes.

Key Features

Checking Invoices with GST are from GST Registered Suppliers: According to the vendor, Watchful Eye includes a feature that verifies if supplier invoices with GST deducted are from GST registered suppliers. This feature is specifically available for businesses operating in Australia, aiming to ensure compliance with GST regulations.

Generate Payments from within Xero + MYOB: Watchful Eye allows users to generate payments directly from the Xero and MYOB accounting systems, as per the vendor. This feature provides visibility into the number of payments made and facilitates easy tracking of payee bank accounts.

Always Attach Supplier Invoices in Xero: The vendor states that Watchful Eye helps businesses ensure that all supplier invoices in Xero have the necessary attachments. This feature promotes accurate record-keeping and reduces the risk of missing supporting documentation.

Alerts: Watchful Eye offers a comprehensive set of 19 customizable alerts, according to the vendor. These alerts serve as a proactive measure to ensure adherence to internal controls and identify potential transaction anomalies or new records.

Ensure Employee data is in Xero + MYOB: For businesses using Xero or MYOB Payroll, Watchful Eye automatically integrates employee data from these systems, as per the vendor. In cases where a different payroll system is used, Watchful Eye provides a feature to load and analyze this information, aiming to identify relationships between employees and suppliers/customers.