Getting your bookkeeping ready for a digital future
Although keeping accurate and up-to-date bookkeeping records may not be the most glamorous task for an entrepreneur, it's actually one of the essential ways to keep your finances and business under control. Fortunately, the digital age has made bookkeeping easier, more efficient and less time-consuming than ever before.
When you switch to digital bookkeeping, you can enjoy the following benefits:
Automated data entry - digital bookkeeping allows you to scan and upload receipts, invoices and other supporting documents using OCR software. This eliminates the need for manual data entry and reduces the chances of human error.
24/7 access to your records - with all your financial documents stored in the cloud, you can access them anytime, anywhere with an internet connection. Your documents are safely encrypted and backed up, so you never have to worry about losing them.
Simplified tax returns - with all your bookkeeping data stored digitally, filing your GST and PAYE returns becomes a breeze. You'll have all the information you need in a format that's easy to submit to the tax office.
Real-time financial data - scanning and digitising your receipts at the time of the transaction gives you real-time data on all your income, expenditure and operational costs. This data can inform your business decisions, allowing you to stay ahead of the game.
Complete financial control - digital bookkeeping gives you and your finance team accurate, real-time records of all income and outgoings. This puts you in complete control of your business finances, allowing you to file your tax returns with ease.
If you're ready to make the switch to digital bookkeeping, talk to our team to find out what bookkeeping or accounting software is right for your business. Once you see the efficiency, accuracy and long-term benefits of digital bookkeeping, you'll wonder why you didn't make the switch sooner.