The computerisation of small business accounting also laid the foundation for electronic reporting to the government. Working with a bookkeeper or accountant on regular reporting could bring about better outcomes.” That’s surprising when you consider the failure rates among small businesses - you'd think they'd want to know how they track quarter on quarter for sales, profit margins, cash flow, or whether their expenses are increasing. Kelvin Deer, director of PT Partners Accountants and Business Advisors and the Australian Bookkeepers Network, notes that “some businesses simply don't want additional reports. There was some overhead involved in making the switch from paper to computerised bookkeeping - a process that this writer went through in his own business at that time - but moving to a computer-based system meant you could extract the required numbers faster than you could transcribe them to the official form. While keeping track of things on paper was still practical if your business had a modest number of transactions, the quarterly BAS added significantly to the reporting load. But the introduction of the GST saw many of them switch to using accounting software, assisted by the $100 voucher from the Commonwealth Government that practically covered the cost of the most popular small business packages.
Prior to 2000, a lot of small businesses got by quite happily using paper-based accounting systems. If you're after our 2013 accounting feature, read on. Looking for up-to-date reviews? We've compared the latest accounting applications in our new 2017 feature. Shopping for a small business accounting package like MYOB, Quickbooks Online, Xero or Reckon? Here is our special guide to making the right choice with this important business software.
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