MYPONGA – Getting your financial reporting organised for the new financial year was the focus for the latest Women in Business Regional Network lunch for the McLaren Vale/Southern Suburbs area.
The lunch was hosted by the Smiling Samoyed Brewery at Myponga and was addressed by Samantha Docking of BOSS (Business Office Support Services). Sam runs her own bookkeeping and business systems service based in Port Lincoln. She also travels the state training others in digital programs, including Xero.
While acknowledging that different businesses had different needs in terms of their accounting systems, Sam outlined the many benefits of having cloud-based accounting programs such as Xero which now linked with HubSpot to eliminate much of the data entry which can sap the valuable time of business owners.
In her comprehensive presentation Sam outlined the range of records that needed to be kept covering not only accounting, but also employees. She provided tips on how to maintain these records efficiently.
“Now is a great time to look at accounting systems as we’ve just rolled over into a new financial year, which is the ideal time to implement a change,” network founder Carolyn Jeffrey said.
“With many business owners grappling with additional financial reporting obligations for JobKeeper and applying for grants many are finding it’s a much easier process with a computerised cloud-based accounting system with those such as Xero providing specific COVID-19 reporting options and links to the ATO.
“No business owner wants to spend more time than they need to working on their accounts, so any shortcuts are always welcome.”