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Receipts on Your Dashboard?

News Article: 1 February 2018 by Ed Eikelboom

There is a better way to organise your business expense receipts.

Are you still managing bits of paper and receipts either on your desk or on your car dashboard? Or do you, like some, still have all your receipts in a shoebox?

It’s time to go digital with your business accounts!

There are apps available for your smartphone, where all you need to do is photograph the receipt. The bill then gets uploaded, and data such as the supplier’s name, dollar amount, GST amount and the date of the transaction all get sent to your cloud accounting software that you need to convert over to. Imagine the time saved and the amount you are probably paying your accountant to do all the manual accounting needs for your business?

We can assist with all the cloud accounting software options to help you find one that will suit your business. Click here for more information about cloud accounting.

Still not convinced about going digital with your accounts?

The ATO requires you to keep receipts for five years and payroll information for seven years.

If you’re going to use a paper-based filing system, the ATO has a great Record Keeping Evaluation Tool to help you keep better accounting records for your business. See the link below:

Record keeping evaluation tool

‘Great oaks from little acorns grow’