Best Bookkeeping Software for Small Business
                     Best Bookkeeping 
Software for Small 
Business
In business it is critical to keep track and manage your 
cash flow. In fact, it is one of the main reasons so many 
businesses have to close their doors. Poor cash flow 
management impacts a company’s ability to grow or 
even just stay afloat.
In Australia, we also have a number of compliance 
requirements with the Australian Tax Office (ATO) for 
the business activity statement (BAS); PAYG tax; and for 
your employees superannuation. That is why having the 
right accounting systems and a bookkeeper in place will 
help you reduce the stress on compliance and keep you 
on track for positive cash flow.
We continue to speak with businesses every day that 
use Excel Spreadsheets to track invoices, quotes and 
their financial position. This is time consuming and 
could be costing your business.
Yet so many business owners continue to be use ‘out 
dated’ systems to manage their cash flow. In todays fast 
past technology boom, there have many tools that can 
make running a business easier and less stressful.
Cloud Accounting Solutions
The new cloud accounting software options such 
as Xero and QuickBooks Online help you understand 
your numbers better and can generate reports fast. 
These systems automatically link with your bank 
account meaning reconciliation time of your accounts is 
quicker. Image the time you will save.
Business Owners still feel there is a need to collect 
every receipt. They or their bookkeeper then spends 
hours every month going through and entering the 
information into a system. According to the ATO 
guidelines, all receipts can be captured as a ‘soft copy’, 
which means you can have an email copy or an 
electronic version.
So tracking receipts for restaurants, petrol, hotels, taxis 
and more is made easier with online applications such 
as Receipt Bank. This is a system developed to help you 
scan your receipt using your mobile phone and then 
automatically transferring the data into the cloud 
accounting system. The automated process of Receipt 
Bank will help you streamline the process and save you 
money, as a bookkeeper or yourself will not need to 
enter every receipt or keep a pile of receipts stored in 
cabinets.
All the latest software is based in a secure cloud 
system. These new accounting systems mean you can 
access information from anywhere including your 
mobile phone or tablet. As information is at your finger 
tips, you are able to use financial numbers to help make 
better decisions for your business and manage your 
cashflow.
Unfortunately most business owners are not across 
these tools and are using old systems and methods to 
track financial performance of their business.
Knowing which systems and how to implement them in 
your business is as easy as picking up the phone and 
speak with the team at iKeep. Choosing the right 
accounting software can help you save time and money. 
We can help you identify the best way to make financial 
management of your business easy for you.