In our blog post this week, we continue a series looking at the three key steps that businesses need to tackle to get their business finances sorted. And our focus in this blog post is on accounting software and managing your finances.
Step 2 – How to use an accounting software to track your performance
The first thing you need is an accounting software for your business. Some of the key things you should think about when looking at accounting software are:
- Cloud v desktop. Do you need access on the go and have multiple users or want to share data with your bookkeeper and accountant in real time, than a cloud based accounting software package is probably more suitable for you.
- Do you invoice and need unlimited invoicing? Accounting software has a strong focus on invoicing and should be able to help you manage this function.
- Do you track inventory? Make sure that your accounting software has this functionality so you don’t need to worry about costly addons.
- Do you have overseas sales and need to consider other currencies. It will often be an additional cost but it is so important in tracking things effectively.
Continue reading “Getting your business finances sorted. We look at accounting software…”
We reflect often in Nudge on why we have made the decisions we have. And one of the biggest decisions we had to make was to use Xero accounting software. As a Gold Partner and one of the largest Xero accounting partners in Australia, we thought about what makes our small business and startup clients happy. And here are some of the reasons we think we have made the right choice to use Xero with our great clients!
Nothing beats getting a top quality looking invoice out to a client and feeling a rush when you see your logo on the top and the dollars owing down the page. That’s what our startup clients tell us when they make their first sale or send an invoice as they are receiving a grant! And the recurring invoicing function is a nifty feature that many of our subscription based clients use as well.
A simple to use employee portal that takes a combination of timesheets, leave and hours worked and can calculate pay easily is what our clients love about Xero. When we educate our clients on payroll and they understand how the system works, you know that it must be ticking all the right boxes. Plus the recent addition that allows our clients to lodge TFN declarations for their staff online through Xero is just another time saver that we love.