Jun 2017 2 Minutes

Is now the time to move to online accounting?

Now that online accounting solutions have been in the market for a number of years, it’s time to consider whether it’s a good idea for your business. In all honestly, we think online accounting will make a big difference to how you manage your business accounts.

One of the greatest opportunities available to businesses today is to take advantage of the power of the cloud. What’s the cloud? It’s a fashionable term for the internet.

Online accounting gives you the freedom to access your ‘live’ business data anywhere, anytime via the internet. You also have peace-of-mind knowing your data is always backed up and accessible.

With MYOB online accounting, you can:

  • Access your accounts on any internet-connected computer or smartphone anywhere, anytime
  • Link your bank account to automatically import and match your bank transactions
  • Store your data securely online
  • Enjoy improved data sharing between your business and our practice.

That last point is very important. It means we have visibility of your accounts throughout the year - not just at year-end. This ensures improved data accuracy, eliminates delays at key compliance times, and helps us to provide timely financial advice to you.

The other feature we like is MYOB’s automatic bank feeds. This ensures all your transactions, like the payments you make and the payments you receive, are securely transferred into your software for you – saving you time in data entry.

What’s more, you can access features such as real time invoice tracking, receive EFTPOS and credit card payments on the spot, and import invoices directly into your software – to name just a handful of time-saving innovations and cashflow improvements.

You can learn more about MYOB online accounting solutions on the MYOB website, or alternatively you can give us a call on (08) 9364 9988.