Cloud accounting is rapidly becoming the norm for how operators financially manage their businesses throughout Australia.
If you haven’t yet made the switch or even taken a look at a cloud accounting product for your business, then we’ve broken it down into some key questions you should consider:
- As a small business owner, do you think it’s important to know how much money you have in your business bank account at any given time?
- Does your desktop software or spreadsheet(s) allow you to know that?
- Over the course of a month how much time do you spend reconciling your bank account(s)? Is there scope to reduce this time?
- Have you ever sent an invoice to a customer who has turned around and said, “I didn’t get your invoice”?
- Has your accountant ever asked for one of the following documents: receipts, invoices, memorandums? And have you been able to respond immediately / easily?
- How long does it take you to process the super payments of all your employees?
As time progresses, businesses that don’t adopt technology and reap the subsequent efficiencies will find themselves at a disadvantage to their competitors who are embracing it.
Embracing cloud accounting is well within OBT’s accounting and tax remit to help clients streamline their data processing and save time on generating paperwork to collaborate and explore the other possibilities of their businesses, to address issues that matter in a more timely, meaningful manner.
Call OBT’s friendly accounting team in Gatton on 5462 2277 to talk through your responses to the six questions above, or to have a general discussion about implementing a cloud accounting system in your business.