Are you still using a shoebox for your receipts?

Despite the cloud revolution, the majority of Australia’s small businesses still store at least some of their receipts and invoices in shoeboxes.

Even with the large number of digital technology tools available to small businesses, they still manually store at least some of their receipts and invoices in shoeboxes.

Consider this:

  • the number of receipts that get misplaced and therefore cannot be claimed;
  • the cost of maintaining a paper-based system (printer ink, paper, scanning, shredding, storage, etc);
  • the many hours a week spent processing receipts and invoices.

Data shows there are still many Australian small business owners who aren’t using technology to find day-to-day efficiencies within their business and cut down on time-consuming and very costly manual processes.

Aside from making it incredibly difficult to keep track of business expenses and cash flow, paper-based receipt/invoice systems become very costly and time consuming.

So, ask yourself, why would I want to spend more time and more money doing something that can be done better. Not to mention, I am sure you have many better things to do with your time, whether that is doing the things that make you money or doing the things that you just simply enjoy doing.

There is a solution and it is very efficient and will actually save you money.

Xero, MOYB and Quickbooks are possibly the three more popular cloud accounting packages, but there are others.

I’m not here to tell you which one to use, but I am here to tell you that is you aren’t using one, you’re costing yourself valuable time and money.

If you have any questions about cloud accounting packages and how they can help you, do not hesitate to contact us.

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Tony Dimitriadis