The product will be known as Liberty Accounting while the other offering is Paychex Online Accounting. There is a race going on in the cloud for capital and more distribution channels. Kashoo is an example of both since Paychex took an ownership position of undisclosed size.  This coincides nicely with the announcement this week that Australian software vendor MYOB has made an investment in Acumatica. New Zealand-based Xero got $150 million, primarily from American investors, also in October, and is planning an IPO before its year ends on March 31.  FreshBooks raised $30 million in venture funding in July and a Forbes article said the company was forced to seek capital because of well-funded competitors. Do investors have more cents than sense? I’m inclined to believe that’s the case.