One of the most important decisions a small business needs to make is your choice of accounting software. One of the biggest mistakes small business owners make is that they purchase accounting software beyond their business needs and level of accounting skill. This can lead to considerable frustration and records that amount to nothing more than a 'computerised shoebox'.
With so many software options available it is easy to become confused, and they range in functionality and sophistication with a price tag to match. To assist you we provide the following guidelines:
Like to know how Cash Flow manager can help streamline your business then call Manvic Small Business Accountants today and we will be happy to answer any questions you have.
If you simply need a 'cashbook' program to track your receipts, payments and GST we strongly recommend Cashflow Manager. It looks and operates like a manual cashbook complete with a spreadsheet or column layout and it requires no understanding of accounting, debits, credits or journal entries. At around $297 it represents excellent value for money.
The program provides business templates that automatically establish columns for certain business types and reconciling your bank account(s) is also very simple. If you have internet banking you can download your bank statements and import the data to save even more time. You can have multiple bank accounts in a single business and the comprehensive reports explain your business results and make preparation of your BAS very easy.
The program includes the debtors side of 'Invoice Manager' that lets you generate Tax Invoices and track your debtors and produce Customer Statements. If you have staff you can add 'Wages Manager' to process pays, print payslips, Annual PAYG Payment Summaries and also track staff entitlements.
If you do not want to do the bookkeeping yourself then there are other options in which we can assist you with, including helping you obtain the right software for your business. If you are unsure then we urge you to contact us regarding your choice of accounting software because the wrong choice can prove both frustrating and costly in the long term.