We’ve gone from simply using basic software primarily to prepare financials to utilising cloud technology and intelligent software that supports our business in a really seamless way. It is essential for us to manage and track cash flow, address the tax implications of GST, PAYE, stock reconciliation, and also manage our invoices.
When considering accounting software, it's crucial to understand its ability to integrate with other systems. We now have a much greater appreciation of the efficiency of this functionality, removing the need to re-enter data in two systems and as a result, reducing the opportunity of errors and minimising time spent in front of the screen.
Integrated accounting platforms such as Xero have certainly made life easier when it comes to preparing financial data. Xero has provided us with up-to-date information to make informed decisions, and enables us to store invoices in the cloud as opposed to a pile of boxes in the garage.