What Practical Systems does

Practical Systems is an Australian software and professional services firm founded in 1992 and headquartered in Armidale, NSW, that builds and sells Cashbook, a tiered Windows-based accounting software platform purpose-built for farmers and rural small businesses. The product line spans three subscription tiers — Cashbook Standard ($446/yr), Connect ($824/yr), and Platinum ($1,330/yr) — each adding farm-specific functionality such as livestock and grain trading accounts, automated fuel tax credit calculation, STP2-compliant payroll, SuperStream support, BAS preparation, and automated bank feeds via the PS Bank Feed integration. Backups and document access are handled through the bundled PS Data Warehouse and PS Knowledge Base add-ons, and accountants whose clients use Cashbook receive free licenses and support.

The company earns revenue through a mix of recurring software subscriptions and ancillary professional services, including bookkeeping, accounting and tax preparation, financial planning, and farm succession advisory. Pricing is publicly disclosed on the website with a 30-day free trial and a freemium partner program for accountants. The primary customer segments are Australian farmers (sheep, cattle, grain), rural and regional SMBs, SMSF holders, and the accountants serving them.

In October 2024, Practical Systems merged with Advisory Partner Group and Lifesolver, expanding the business from a single-location software vendor into a multi-office rural financial services group spanning Armidale, Rockhampton, Brisbane, Beaudesert, Toowoomba, and Canberra. The combined entity continues to distribute Cashbook as its core software product while layering tax, advisory, and financial planning services on top of the existing software customer base.

Name

Practical Systems

Legal name

Practical Systems Ltd

Website

https://practicalsystems.com.au

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

Practical Systems, founded in 1992 in Armidale, Australia, develops Cashbook farm accounting software and related accounting, tax, financial planning, and farm advisory services for Australian farmers, rural small businesses, SMSF holders, and accountants serving the agricultural sector.

Ownership category

akta.pro rank

Product category

Agricultural Accounting Software

NAICS

Farm Management Services (115116), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (5412)

SIC

Services-Prepackaged Software (7372), Agricultural Services (700)

akta.pro primary industry

Farm Management & Decision Support Software (FMIS, ERP, Recordkeeping) (AFAGALAA)

akta.pro secondary industries

Farm Financial Management & Recordkeeping Services (AFACAJAC), Compliance, Recordkeeping & Audit Management (Food Safety, Chemical Use, Labor) (AFAAAFAL), Farm Data Platforms, Integration & APIs (Interoperability/Middleware) (AFAAAFAG)

Keywords

• Farm accounting software
• Agricultural bookkeeping
• Rural small business accounting
• Farm financial planning
• Primary producer tax compliance

Headquarters

HQ city

Armidale

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Software Subscriptions: Annual subscription model for Cashbook software with three tiers (Standard, Connect, Platinum). Subscriptions include software access, telephone/email support, program updates (typically twice yearly), PS Data Warehouse access, and PS Knowledge Base access. License allows installation on up to three computers.
2. Professional Services - Accounting and Tax: Full accounting and tax return support including annual tax returns (individual, partnership, trust, company), BAS preparation and lodgement, payroll services, year-end accounts, and ATO compliance. Delivered through Advisory Partner Group partnership.
3. Financial Planning Services: Financial planning services for farming families including retirement planning, superannuation strategy, insurance, and estate planning. Delivered through Lifesolver (part of Advisory Partner Group).
4. Farm Advisory Services: Succession planning and farm advisory services helping farming families with transition planning, family discussions, and next-generation planning.
5. Practical Cover Support Package: Annual support package providing program upgrades, phone/email support, data warehouse access, and knowledge base. Optional add-on for subscription holders.
6. Ad-hoc Technical Support: Pay-per-incident technical support at $165 per hour (or part thereof) for customers whose Practical Cover support has lapsed.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

Practical Systems develops and sells Cashbook, a tiered Windows-based agricultural accounting software (Standard, Connect, Platinum) used by farmers and rural small businesses for cashbook management, payroll with STP2 compliance, BAS preparation, livestock and grain trading accounts, and farm financial reporting. The company also delivers adjacent professional services—bookkeeping, accounting and tax, financial planning, and farm succession advisory—through the merged Advisory Partner Group, allowing clients to obtain software, compliance, and advice from a single team familiar with primary producer needs.

Product overview

Practical Systems offers Cashbook, a tiered agricultural accounting software platform with three product levels (Cashbook Standard, Cashbook Connect, and Cashbook Platinum) designed for small to large farming operations. The software provides cashbook management, payroll with STP2 compliance, BAS preparation, trading accounts, and financial reporting. Alongside the software, Practical Systems provides related professional services including bookkeeping, accounting and tax preparation, financial planning, and farm succession advisory—all delivered through the merged Advisory Partner Group. Add-on features include PS Bank Feed for automated transaction import, PS Data Warehouse for secure off-site backup storage, and PS Knowledge Base for support documentation.

Differentiator

Problem solved

Functional benefit

Brands

• Cashbook: Agricultural accounting software available in three tiers: Standard (single business), Connect (multiple businesses), and Platinum (large multi-site operations). Features include cashbook management, payroll, STP2 compliance, bank feeds, budgeting, and trading accounts.

Products and services

• Cashbook Farmer-made agricultural accounting software offered in three subscription tiers (Standard for single businesses, Connect for multiple businesses with bank feeds and STP2 payroll, and Platinum for large multi-site operations with advanced budgeting and reporting) for Australian farming enterprises and rural small businesses.
• Bookkeeping and Payroll Services Professional bookkeeping and payroll services including bank account reconciliation, bill payments, invoice generation, tax coding, and chart of accounts setup, targeted at rural and regional small businesses that do not maintain in-house finance staff.
• Accounting and Tax Services Full accounting and tax support including annual tax returns for individuals, partnerships, trusts, and companies, BAS preparation and lodgement, payroll with STP2 compliance, year-end accounts, financial statements, and farm-specific tax advice covering primary producer concessions.
• Financial Planning Services Financial planning services for farming families including retirement planning, drought season management, superannuation optimisation, SMSF management, and long-term income structuring.
• Farm Advisory Services Succession planning, family discussion facilitation, and next-generation planning services delivered by Practical Systems' farm advisers (including Francis Waddell) to help farming families ensure farm continuity through generational transitions.

Quantifiable outcome

• Reduced time to financial understanding - less time required for accurate profit/loss and loan account reporting
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Four partnerships are on record, tiered flagship and core.

• Advisory Partner GroupflagshipStrategic or Co-development Partner · 7 October 2024Practical Systems merged with Advisory Partner Group (along with PS Accounting/TPS Solutions). Advisory Partner is a full-service accounting and advisory firm providing accounting, tax advisory, bookkeeping, and agribusiness advice. This merger expanded Practical Systems' service offerings beyond software to include comprehensive professional services.
• LifesolverflagshipStrategic or Co-development Partner · 7 October 2024Lifesolver, part of the Advisory Partner Group, provides financial planning services exclusively to rural and agricultural businesses. Services include retirement planning, superannuation strategy, insurance, and estate planning for farming families.
• ATO (Australian Taxation Office)coreOthersIntegrated compliance with ATO systems including Single Touch Payroll (STP2), BAS lodgement, superannuation (SuperStream), FBT returns, and tax agent portal for seamless tax compliance.
• Australian BankscoreTechnology or IntegrationPS Bank Feed provides automated transaction import from banks directly into Cashbook, eliminating manual entry. Supports multiple banks and transactional accounts for automated bank feeds.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Emerging players

• Class (Class Super / Class Portfolio): Australian SMSF administration and investment software — competes with Practical Systems' SMSF services for accountants and trustees managing self-managed super funds.
• BGL Corporate Solutions: Developer of CAS 360 and Simple Fund 360 — competes with Practical Systems' SMSF service offering for SMSF compliance administered through accounting firms.
• Cashmanager (Figured-affiliated): Farm budgeting and cashflow software targeted at primary producers in Australasia — directly comparable to Cashbook's budgeting, scenario planning, and trading account features.
• Bovina: Australian livestock-focused farm management and records platform — competes for the same livestock trading accounts and farm recordkeeping workload Cashbook addresses.

Direct peers

• AgriWebb: Australian-origin farm management software platform serving livestock and mixed farmers with records, planning, and compliance tooling — directly comparable to Practical Systems' Cashbook farm recordkeeping value proposition.
• Figured: Farm financial management software purpose-built for primary producers with budgeting, livestock tracking, and tax planning — overlapping with Cashbook's farm finance, trading accounts, and primary producer tooling.

Broad incumbents

• QuickBooks (Intuit): Global cloud accounting platform with a sizable Australian user base among small businesses — overlaps with Cashbook on subscription-tier cloud bookkeeping, payroll, and BAS-like compliance.
• Xero: Australia-founded global cloud accounting platform widely used by SMBs including farmers — competes head-on with Cashbook on baseline bookkeeping and is gradually adding ag-vertical features.
• Reckon: Australian-listed accounting and practice software provider (Reckon One/APS) — competes with the Cashbook SMB tier and adjacent accountant/bookkeeper channel.
• MYOB: Long-established Australian accounting and payroll software provider with strong SMB penetration including rural customers — broad incumbent overlap with Cashbook's bookkeeping and BAS use cases.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/practicalsystems
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Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Practical Systems