Gone are the days when paper ledger books were used to help a business keep on track with their finances. These have been replaced by accounting software, which reduces the potential for human error, makes financial data easier to track, create invoices and help assess a business' performance. The cost of using the software can be off putting for small business owners, but the time saved in doing their accounts and the potentially lower accounting or bookkeeping fees if they use either service are well worth considering.
We chatted with accountant Chris Mercer from MBP Advisors + Accountants for expert advice on selecting the best accounting software for your needs.
In New Zealand, business owners have a multitude of accounting software solutions to choose from including MYOB, Xero, Recon, Cashbook Complete, pwrBooks, Quickbooks, CashManager, LedgerLite, Zoho, Wave and Quantum. It would be fair to say that the main players in NZ are both MYOB and Xero, with many accountants and bookkeepers recommending these options. However, it is your decision as a business owner as to which software option you work with. Here are some great tips (the first four are from accountant Chris) to help you make that decision:
For further advice on how to select your accounting software, have a chat with a bookkeeper or an accountant such as Chris or one of the great accountancy businesses listed here in our NZ Business Directory.
Posted: Friday 9 November 2018
Build and maintain your website or online shop for free. Our modern mobile responsive templates make your business look professional, and our content management system empowers you to make changes easily.