Tax time can be stressful
Spending just 5 mins each week dedicated to your tax will have an enormous impact on the time you spend at the end of the tax year. BUT, since we’re almost at the end of the year, let’s talk about what can help you now and also what measures you can put in place for next year.
At Lindentech, we are exposed to all the latest tools, apps, gadgets, and devices to help you and your team save time. In this article, we recommend what we consider are “the top tools” to help make tax time easier and more accurate.
Number one on this list is Xero. This accounting platform is targeted towards small businesses. Xero make accounting easy and efficient. Xero will change the way you look at bookkeeping. It has numerous features that will revolutionise the way you manage your accounts within your business.
Its features include auto-bank reconciliations, quoting/invoicing/purchasing, inventory control, pay roll and much more. Xero also has the ability to allow other applications to interact with the Xero platform using the Application Programming Interface (API). This means you can have your Customer Relationship Management (CRM) software automatically enter relevant accounts information into invoices.
Xero currently has hundreds of third party applications that can interact with it to reduce the manual handling between different systems.
If you’d like to know more, reply to us and we can recommend a local provider that can help you move to Xero.
Receipts are an absolute nuisance. Not only do they fade overtime but you have to remember to collect them, save them, give them to your accounts person who then has to manually enter them into the accounting system. Shoeboxed helps you become more organised with receipts and invoices.
Simply, everyone puts their receipts in a cardboard box in the office and at the end of the month you physically MAIL the box to Shoeboxe’s office and they enter it for you and it appears in your Xero (or an online accounting system) 3 days later! Now that’s a time saver!
Mileage Logbook by Driversnote
Tired of maintaining log books for multiple drivers in your company? This app helps you track all your trips on your phone and email a report to your bookkeeper/accountant. It uses GPS to track your KMs and apply the correct rate set by the ATO.
Australia Post BillPay
This platform is a unique way of saving time. It logs into different systems to download all the monthly statements and bills in a single location. Once you enter all the information for your bills, just log in to a single platform to receive and pay all the bills either manually or automatically. It is secure, has flexible payment methods and has more than 1000 providers you can add in a single platform.
If you have any other tools that you use in your business – we would love to hear about them!