What is QuickBooks & How Do Businesses Use It? QuickBooks is a small business accounting software program businesses use to manage sales and expenses and keep track of daily transactions. You can use it to invoice customers, pay bills, generate reports for planning, tax filing, and more.
A recent MYOB survey¹ showed that innovation through technology is on the top of SME’s to-do list with 1 in 3 Australian business owners having acquired new technology or equipment. SME owners who embrace innovation fare better than a business that doesn’t. Here are our tips on how to embrace and drive innovation in your small business.
In a survey of 523 accountants and bookkeepers, 41 per cent said at least half of their SME clients provide paper documentation rather than electronic. As well as a reliance on hard-copy documentation, 20 per cent of respondents said less than half of their SME clients use accounting software.
MYOB chief product officer David Weickhardt said the recent announcement that the federal government will commit to electronic invoicing shows that a digital environment should be a priority for all businesses.
“These major shifts we’re seeing in the way Australia will do business require a habit change. Most of the time, those changes seem more daunting than they actually are, and in truth, it’s a lot harder to keep track of paper receipts than it is to adopt technology that does it for you. The shoebox should be a thing of the past,” Mr Weickhardt said.
There was also a large percentage who didn’t understand the benefit these tools can provide for their business.
“It’s a common misconception that smaller businesses don’t need accounting software or business management tools, but they underestimate the disadvantage they’re putting themselves at,” Mr Weickhardt said.
“For businesses of all sizes, having online solutions will save the business owners time, reduce error and greatly help with forecasting and budgeting. These solutions allow the business owner to get back to doing what they love, rather than spending time on paperwork or compliance.”
MYOB is cool primarily because of its flexibility. Everything within this software is stored on the Cloud, meaning that it can be accessed from any device. For business owners and accountants on the go, this means that you can pull up all your accounting information on your Smartphone or tablet. The Cloud-based storage also allows tax forms and invoices to be updated the second there are any changes.
MYOB allows for accounts that store bills, manage invoices, and perform other essential functions to be linked together. As a business owner, you can also send payslips out to your employees using your company email, ensuring that there’s never a missed payment in your workplace.
MYOB offer whatever you want for your business – MYOB can help you achieve it. MYOB is Australia’s most popular accounting software and is designed to simplify accounting, payroll and more and offer business management solutions. More than 50 of them, to be exact. Everything to help you with accounting, payroll, payments, retail point of sale, CRM and professional tax solutions – and more. Once you start using MYOB products, you never have to stop. You’ll never outgrow us: whether you’re a start-up in a garage or a manufacturing powerhouse. MYOB have solutions for businesses of every size, shape and sector. What Types of Accounting Software Are There?
Okay, so you understand that your business is desperately in need of accounting software. Now what? Well, it’s time to pick your favourite, of course! Here, we’re going to go through the pros of the most effective accounting software on the market so that you can weigh them and decide which is perfect for your growing business.
MYOB provides support, and we have more than 40,000 advisors (bookkeepers and accountants) to help you out. MYOB Advanced is a completely cloud-based ERP solution which provides powerful, cohesive and end-to-end business management. “In Canstar’s research, nine out of 10 respondents said accounting software makes their business easier to run. That is reflected by the overwhelming demand and feedback we have experienced for our new Single Touch Payroll product, which simplifies the supply of payroll information to the ATO.”
MYOB has the greatest number of different plans to choose from, compared to other accounting software companies available to Aussie business owners. It also offers some quite high-end options. Unlike some competitors, most MYOB software plans are well equipped for those who want to be able to work offline. If you’re frequently away from Wi-Fi access, this could make MYOB a better fit.
There’s probably a good reason why MYOB is the most widely used accounting software in Australia. That being said, every business is different and has different needs – don’t just go with the crowd, take the time to compare software options from different companies before investing your time in setting up a new accounting software plan.
Other providers include
Let’s face it we are all in Business for one reason, and that is to raise invoices…after all, it starts with this! We recognised that in this competitive world we all need to stand out from our competitors and be seen and heard.
Capify has been designed to serve the small business to build its Australian business! How you may ask? The Team at Capify Business Marketplace Global work for Australian small business, building their business and providing a dynamic environment conducive to raising more invoices!
It has a robust and proven formula and system that drives it! Find out more by coming by contacting us on 1300 760 930
To better understand the Australian Marketplace, it’s good to know how it works, where its at and how they help match customers to small businesses. By definition, a small business marketplace assists in building businesses by helping to provide a dynamic environment that allows businesses to grow. In essence, it helps build and grow small businesses in an eCommerce data parameter marketplace where customers seek what you’re offering for sale.
It’s not a surprise that turning a small business into a successful and prosperous one takes a lot of hard work and effort. But wonder if there was a way you could cut back on some of the intense hours and hard work while your business still thrived? Most small business owners know that building an extensive network and connecting to vendors, suppliers, customers, and peers can mean the difference between success and failure.
The Australian Small Business market place is the place you’ve been looking for but never knew it was as close as a web click or phone call away. Australia eCommerce brought in over $28 billion last year through online shopping. 9% of all of Australia’s retail sales are made online.
In 2019, there were 5% more online shoppers than in 2018. What’s more, is it’s not going to end anytime soon. In fact, online shopping is projected to increase, so if you own a small business and you want to grow your business presence online in Australia, now is the time to get involved with a small business marketplace to do it.