What Business Accounting Software is Right for You?

The Benefits of Online Accounting Software: Why Your Business Needs It

Online accounting software solutions provide a wide range of services to their users, making them indispensable for modern businesses. A well-managed accounting file will provide meaningful reports in real time, so that you know exactly where your business stands financially. This is critical for you to make informed and timely business decisions.

Online platforms also offer the ability to send invoices and reminders directly to customers, and track payments in real time, simplifying cash flow management. Integrations with other cloud software and add-ons enhance the functionality of your accounting system, making it a versatile tool for comprehensive business management. Cloud based software means that you, your bookkeeper, your accountant and your senior managers are all looking at the one single source of truth.

Top Accounting Software We Recommend To Our Clients

The most common accounting software solutions used by our clients include Xero, QuickBooks Online, and MYOB.

These platforms offer a wide range of features that make them suitable for small to medium businesses. All three offer automated bank feeds and include AI features that make bookkeeping far easier than it used to be. More advanced features such as automated superannuation, job / department tracking, and foreign currency transactions are available in higher tier subscriptions.

Xero, Quickbooks and MYOB all have their own app stores, and have the ability to integrate with thousands of apps. With so many specialised apps out there for businesses in different industries, it’s important to look at your overall business needs, and work out what is the best accounting software that will integrate with your existing or proposed systems.

All three of these platforms will assist you in meeting your ATO compliance obligations, and which is best for you ultimately depends on your own preferences and circumstances.

Our team at BLG Business Advisers provide services to businesses all over Australia. Talk with us to not only select the most suitable accounting software but also to gain the best business advice tailored to your situation. 

We wish you every success!