August 15, 2017
While it can be tempting to leave all of your bookwork and financial record keeping to your accountants, this is a very dangerous trap to fall into. In the short term, it might seem easier to have your accountant look after it all for you. However, in the long term it may end up costing you a lot more money than it saves you.
You should therefore consider doing your bookkeeping yourself, especially if you run a small business. Doing your own bookkeeping requires some sort of professional accounting software. While there are plenty of free accounting programs out there, we believe that it is always worth paying for a decent program. Out top 3 reasons why you should always pay for your accounting software include:
- Paid software will be up to date:
Australian tax laws are constantly changing, and it is important to stay on top of them if you want to remain compliant. While free accounting software may seem like it is doing the job, it may not remain up to date, and may miss important information regarding updated tax laws.
However, when you buy an accounting package, you are paying to have something which is up to date, compliant with Australian law, and easy to understand. This reduces your risk of missing something important when you are keeping records during the year, and should help you remain compliant with tax laws.