Reckon One Accounting Software – The Good and Not So Good

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One of the biggest challenges for an entrepreneur, freelancer or small business owner is growing his or her business. Whether you’re a restaurateur, travel blogger or a tech innovator, scaling up is the only way to go in order to reach new markets as well as new financial heights for the business.

In the accounting industry, this growth requires new accounting complexities that need to be addressed, such as more hours spent on accounting administration and additional paperwork. And for non-accountants, this can result to bottlenecks in the workload, causing unnecessary delays. Fortunately, there are several tools available online to address this critical issue. Continue reading

Xero Bookkeeping For Restaurants – How to Maximise Your Accounting Software

Xero

Setting up a business can be easy but tracking its profits, losses, tax cuts, transactions are considerations one businessman should understand. For every transaction, there’s a value behind it and the only way to determine the exact value of it is through accounting software. If you are a restaurant owner, the harder it is to keep track of every single transaction that has monetary value because of the hectic environment of taking numerous orders, delivering a great product and managing staff. Good thing, there are a few options available online to help your business succeed and save time managing the books.  Continue reading

Xero vs MYOB vs QuickBooks Software Comparison

Major advancements in modern technology has increased demands for accuracy and convenience and recent legislation has made cloud accounting software a must have tool for Australian business owners. With its accessibility over various devices and the fact that data can easily be transmitted to users while still being protected, it is clear why cloud accounting is used by many. The increasing demand for competent software resulted in a number of cloud accounting software products to choose from with each one having distinct features. With all these programs, how does one decide which one is best for one’s needs? Here is a quick comparison of the 3 major cloud accounting software in Australia.

All of these companies have respectable reputations and are government certified. The ultimate goal then, in comparing these software programs is to find one that is the right fit for your needs by looking at their basic functionalities, their add-on programs for complex transactions, their subscription rates, and other additional features which may be helpful such as mobile applications. Continue reading

Find a Bookkeeper Thats Right For Your Business

In every business the bottom line comes down to dollars and cents. No matter what industry you are in, at some point you are going to have to deal with money and managing finances.  Doing this well with proper record keeping and account management can be a difficult and time-consuming task.  This is where the help of a good bookkeeper can take the pressure off, allowing you to be more efficient, reducing the risk of errors and releasing you to focus on the rest of your business.

All it takes is a quick online search to see that there are multitudes of options available when looking for a book keeper; free lancers, firms and even outsourcing overseas. Finding the right book keeper can seem like an overwhelming task.  Here are three things to do to start your search: Continue reading

Single Touch Payroll (STP) – What You Need To Do

Starting on July 1, 2018, Australian businesses with 20 employees now have to comply with the STP or the Single Touch Payroll initiative. These same businesses are expected to have conducted a headcount of their employees on April 1, 2018 to determine their reporting requirements. But what exactly is STP and are you ready for it? Continue reading