How To Keep Your Bookkeeping Under Control
Being organised and having your bookkeeping under control is important for all aspects of your cash flow management. Whether or not you have a cloud-based accounting system, there is still always plenty of paperwork that needs maintaining. Therefore, it is imperative that you ensure that your online and offline systems are up to date. As the end of financial year is fast approaching in Australia, it is time you got everything in order. Here are some of our top tips to make sure that happens and enable you to get your bookkeeping under control. Organise your storage Filing cabinets, or at the very least a set of three ring binders, will come in handy for most of your physical storage needs. While today’s offices are leaning towards a paperless theme, most companies find that there is still the need to have some paper stored, whether receipts, invoices, statements or reports. If you do scan things like petty cash receipts, then it is important that your online filing system is arranged for easy access, if necessary. You must keep all of your business information for five years to please the minimum Australian Tax Office requirements, after that time the records...
Read More3 Bookkeeping Habits That Are Helpful For Your Business
Bookkeeping is an essential part of running a business or being a creative entrepreneur. How can you possibly know how much you have spent or how much you owe without keeping up to date with your accounts? No matter the size of your business, you must always endeavour to be one step ahead of your expenses. This will help you understand your cash flow at any given time. 1. Choose your software wisely An efficient business needs to get back to basics. Is your bookkeeping system really working in your best interests? It all comes down to the essentials and the choice of software. With so many options out there, it is important that you find the one that meets your requirements. If you have not tried Xero, then you may want to look into it. It offers great flexibility, real-time speed and many integrated add-on solutions. 2. Keep all your receipts and invoices The only way to ensure that your books are accurate is to keep all of your receipts and invoices, especially those cash expenses which can be harder to track. It will enable your records to be as accurate as possible. Your software should be able to...
Read MoreHow Xero Can Save Time, Boost Productivity and Output
It’s been argued by many that the most valuable commodity in business, and Life itself, is time. An increase in productivity and output is the natural result of finding a way to simplify and streamline our systems and make our processes more efficient and effective. Xero is a fully integrated accounting system that makes keeping up with the books a process that’s easier, faster and less prone to error. The following is a list of the top 8 ways that Xero reduces the hassle, stress and drama surrounding the process of keeping up with one’s accounts. This system frees up time so that owners and managers can get back to focusing on what they do best: running their business! Automatic Tracking of Sales, Purchases and Inventory If you are still using older, outdated software to keep up with your books, it’s likely that you have a separate system to track your company’s sales, purchases and inventory. Xero saves you time by automatically tracking these and other integral components of your business. Users can access this data and quickly produce reports and lists, from the same fully integrated dashboard, and at the click of the mouse! Gone are the days...
Read MoreLearn Online: How To Use Xero
The ease and convenience of online learning are benefiting everyone these days. Academic courses or professional development can all be taken virtually, and make a tremendous impact on what kinds of work people can do. When it comes to running a business, being able to learn online has significant advantages, including keeping expenses down and levelling up after hours if necessary. One type of training we recommend to our clients is that which will help them become better acquainted with Xero, clever, cloud-based accounting software. And, you guessed it; you can learn the bookkeeping software online. Xero U Courses There are several levels at which you can engage in the Xero U courses. The system of classes is set up to be navigated differently by each visitor, and there are clearly labelled bite-sized portions of information that people with various roles within their organisations will find useful. Xero U has all free, easy to understand training for all applications of the software. Why Xero is Worth Learning This software is suitable for all sizes of business or practice, and can be adapted to fit the needs of every organisation it is applied to. One of the most attractive features is that it is cloud-based, so information...
Read MoreMobile Apps To Help Your Business Accounts
Your business accounts can be easily facilitated and often improved with the regular use of a range of different mobile apps. The benefits of having access to your records on your phone are obvious, and being able to check in from anywhere is the new normal. If you are just dipping your toe in, it is worth having a few ideas about what is around, so you can choose what will be most useful for you, out of what is available. Reckon One is a good starter out of the gate, as it allows users to keep track of billable time, as well as provide invoices directly to clients from a mobile location. There are also tools to record payments received and bills becoming due, with regular bank reconciliation also an option. All these functions could be useful to a range of growing businesses, consultants or professionals. Quick Books is a favourite of those who like to be able to access data through a host of connected devices. This allows people on the go to be able to conduct business in a fluid fashion. Users can connect with clients, offer quotes, accept jobs, and supply invoices in a seamless...
Read MoreWhat are our clients saying
"Sophie is so professional – careful, attentive and punctual – she has made managing my accounts not just easier, but a whole lot less stressful" Fast Ed, TV Chef from Better Homes & Gardens.
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