Old Accounting Systems Cost You Time And Money

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Old Accounting Systems Cost You Time And Money
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• Cash flow management is crucial to any business.
  Poor cash flow management impacts a companys
  ability to grow or even just stay afloat, and is
  one of the main reasons so many businesses
  eventually close their doors.

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• Compliance requirements with the Australian Tax
  Office such as Business Activity Statement (BAS),
  PAYG tax, and employees superannuation
  necessitate having the right accounting systems
  and a bookkeeper in place. Both will reduce
  stress over compliance and keep cash flow on
  track. Yet so many business owners continue using
  out-dated systems such as Excel spreadsheets to
  manage their cash flow when there are a variety
  of tools that make these tasks less stressful.
  Tracking invoices, expenditure and a business
  financial position using a simple spreadsheet is
  time consuming and costs your business

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• Cloud Accounting Solutions
• New cloud accounting software options such as
  Xero and QuickBooks Online are powerful
  applications that automate many business tasks
  and generate reports quickly, helping you
  understand your position better. These systems
  securely link with your bank account meaning
  reconciliation is quicker too. Imagine the time
  you will save.

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• Being securely cloud-based, these cutting-edge
  systems allow you to access information from
  anywhere on any device. Accessing real-time
  financial data gives businesses greater control
  and allows better business decisions to be made.

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• Stockpiling paper receipts?
• Business owners dont need to collect every
  receipt! Forget spending hours every month
  collecting and entering receipt information.
  According to ATO guidelines, receipts can be
  captured as a soft copy, which means you can
  have an email or an electronic version.

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• Tracking receipts for restaurants, petrol,
  hotels, taxis and other business costs is made
  easier with applications such as Receipt Bank.
  Scan your receipt using your mobile phone and
  Receipt Bank sends the data to your cloud
  accounting system. This automation streamlines
  the process, saving you and your bookkeeper time
  and money.

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• Most business owners are not across these tools
  and continue using old systems and methods to
  track the financial performance of their
  business.

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• Contact iKeep for bookkeeping services.