The days of doing bookwork by spreadsheet or keeping receipts and just handing them in are behind us. Technological advances have provided businesses with a variety of programs that can make your record-keeping and bookkeeping a simple process. You can choose from a variety, including Xero, MYOB, QuickBooks, Reckon and Sage.

So why use online accounting software programmes?

1. Security: it’s a top priority for software companies to store your data safely online

2. Payroll: time effective and creates reports and files that can be uploaded to the bank

3. User-friendly: generally easy to learn and use in day-to-day operations

4. Productivity: efficient and effective processes that lead to higher productivity

5. Access: able to give bookkeepers and accountants access so they can keep the files up to date and accurate

6. Compliance: the ATO is aware of what these programs offer and there is a link between the two, so reporting your obligations (STP, PAYG, BAS) is only a click away

It’s important to look at what the software package offers because cheaper deals don’t always mean suitability. It can cost more to convert to a better software down the track, so it’s best to check with you bookkeeper/accountant to make sure the one you choose suits what you require.

Click here to follow the link to read the article in the February 2019 Magazine

Accounting Software – which one is right for me?