As a sole entrepreneur, do you want to run your business successfully?
That’s why you went into business in the first place, otherwise you would have stayed at that job that you didn’t enjoy.
When running your own business you need to focus on what is important, and that is growing your business and doing what you are best at. From implementing the use of an invoice template and coming up with strategies, to dealing with marketing management, these are just some aspects of a business that you will need to consider if you aim to run a successful business. Even if you are planning on being your own boss, doing some research and asking for help never hurt anyone.
Last week we looked at how you can grow your business by hiring a specialist in your industry to help, as opposed to a casual or part-timer as you were not able to financially pay a top-gun.
This week let’s look at some of the office functionality
Focus on having the best software that fits your needs.
More to the point which accounting software is the better option.
Let’s say you run a Social media company, do you really want to have your head in your books?
You think maybe I should have done that Bookkeeping 101 course, but then you might also be now thinking that it would be worthwhile checking out Bookkeeping Services to help you out. As you decide some of the following procedures are a bit outside of your scope nor do your have the time:
- Bookkeeping, Payroll, paying bills, invoicing, and that really dreaded time of the quarter BAS reporting.
When choosing your accounting software, some of the following features should be included:
- Does it have time-saving features?
- Can it produce a BAS report?
- Payroll can you rely on the correct amount that needs to be paid out to staff?
- Can it work out the correct Superannuation to be paid?
- Does it send superannuation directly to the Super Clearing House?
- Are your records correct when chasing customer’s with unpaid invoices?
- Can you send a bulk payment to the bank to pay say 20 suppliers at once?
Let’s look at what I recommend to my clients
Our clients range from Ballet Schools to Construction Company’s.
Our recommended accounting software is
QuickBooks Online has just about everything our clients and you will ever need, if not, they have an array of different Apps to choose from in their Ecosystem.
Intuit QuickBooks Online has a very intuitive dashboard when you first look at the home page, and has easy to use features that are very user friendly. Some of these features are:
- Tracking income and being able to produce reports to chase those late payers
- Direct payments from your invoices using PayPal,
- that sync’s back to your invoice template in QuickBooks Online and mark’s this invoice as Paid automatically
- Tracking your expenses & bills.
- Ability via the QBO App from any mobile device to take a photo of your expense’s
- then upload directly into your QuickBooks Online file –
- no more Loosing Receipts.
- These photos’ will be picked up in the Online banking feeds that directly feed into your QuickBooks Online file from your bank, and matched to your expense.
- How Easy is that!
- ABA files for bulk payments directly to the bank, saving you time when paying your bills.
- Reporting that can be produced to a higher level of financial reporting on different levels for separate departments of the business.
- Payroll that is easy when setup correctly,
- Produce an ABA file to upload to the bank and pay your employees directly from this electronic file
- Superannuation paid directly to the Super Clearing house via QuickBooks Online,
- you don’t have to log into your bank to pay this,
- nor do you have to enter in the separate information for all your employees into a Clearing House Website.
- All done with a couple of clicks.
- Tracking your BAS and how much to pay each quarter, as well as the PAYG within the BAS that has to be paid to the ATO.
- Available on any mobile device as well as your desktop, as long as you have internet coverage
- 24/7 access
- Anywhere in the world, anytime
These are only just some of the awesome features that QuickBooks Online has, you can see why it’s our preferred software for our clients.