Now is a good time to review how you do all of your business bookkeeping and what software or practices you use to manage your files and taxation information.

Here at Think Accountants and Think Better Bookkeeping we recommend the use of MYOB.

Firstly, MYOB is Australian owned and therefore is distinctly in line with Australian taxation and legislative changes as they happen.

MYOB will make your life easier.

If you are currently using a spreadsheet system to keep your accounts and run your reports, MYOB could improve your accounting and reporting in many ways. You can manage your business on any device, anything from your computer/laptop to your iPad or your smartphone. On any device and from anywhere.

You do not need to be in your office to add information to MYOB – you can do it on the fly at the service station when you pay for fuel or even at the café when you buy a client or colleague coffee and a muffin.

It is so simple that you can even generate invoices from your smartphone while you are at a client’s place of work or whenever you need to!

You can connect your bank accounts to your MYOB account and track all of your spending and make sure you have enough money in your accounts to make that purchase.

MYOB will generate reports such as your Profit and Loss. The intricacies of which were discussed and broken down in a previous blog post. Making this task easier makes purchase of this software worthwhile in itself!

Single Touch Payroll is a new change to the accounting landscape in Australia and something that caught many businesses unaware – being Australian based software, MYOB is ready to handle your single touch payroll needs and will help you to navigate the system effortlessly.

With the recent COVID-19 crisis there has been constant and required changes to the JobKeeper system. MYOB will record your JobKeeper payments and make sure that you are compliant and up to date for all of your employee’s requirements.

You can choose a plan that suits your business. If your business is a low volume business you can have a cheaper plan that is easy for you to maintain and keep the information you need.

Alternatively, there are larger plans for high volume businesses – you are also able to add Accounting and Payroll as required.

Training is all provided online and you can get all the support you need from your helpful team at Think Accountants or from the team at MYOB – your choice.

All information is stored in the cloud – so no need for backing up or expensive hard drives and storage options, that is all taken care of for you.

There is one alternative to learning new and exciting software – you can let the team at Think Accountants take care of it all for you!

We are happy to take over all of your bookkeeping and make sure that your business runs like a well-oiled machine.

Call us today on 9428 9630 to make a time to discuss all of your tax time needs or to help you set up for the 2020/21 financial year.