Hello again from the small business accounting experts in Perth. Today we will look at how the world of accounting has changed with the extinction of the cash book. Thanks to Xero, we no longer need to enter transactions into a cash book and then reconcile to a bank statement. Now , the bank transactions are automatically imported into the software and we match each entry to either an invoice…
Hello again from Accolade Accounting your experts with helping small business improve their cash flow and profit. We will continue to look at the changes brought about by the cloud based Xero accounting package. Before cloud Xero (BC X) all businesses used to store supplier and customer invoices in files. This is because the ATO requires most documentation to be kept for at least 5 years. The most recent…
Hello again from Accolade Accounting. Let’s continue looking at the benefits of the Xero generation. Do you remember when you had to print out the payment summaries and post them to employees and post the payment summary statement to the ATO ? Never mind the EMPDUPE file that had to be put onto a storage device and sent to the ATO. Well now you can email all payment summaries from…
The most amazing change in the accounting environment for small business has erupted since the invention of the abacus, the cloud based accounting package Xero. Just like the abacus was a pivotal change back in those days, small business now will experience a pivotal change in the way that they view and process financial information for their business. Zero is nothing but Xero is everything. Xero provides business owners with…