Hubdoc – How it Works

        Hubdoc is an online cloud-based service and mobile app for digitizing financial documentation. Designed to alleviate data entry for busy business owners and bookkeepers. With Hubdoc, your  key financial docs automatically flow into one place. Quickly view your receipts, bills and statements the moment they are sync’d or uploaded. Hubdoc captures, processes and syncs precious information between leading accounting applications. Simply snap paper invoices, bills or receipts using smartphone or tablet camera and the apps for iOS or Android scans those documents ready for upload. Single sign-in for associated online accounts and the ability to import pre-existing scans via upload or email also allows Hubdoc to automatically grab financial data. With copies placed in fully customizable folder structures, documents can then be archived and viewed anywhere and across multiple devices via app or browser. Cloud-based storage features bank-level protection boasting industry-standard levels of encryption and verification technology. Financial data from uploaded documents or linked accounts can then be published between leading accounting software such as Xero and Quickbooks. Vendor Rules allow how Hubdoc codes docs and data to be changed, ensuring seamless integration within existing systems and user groups. Try it for yourself.    ...

Moving towards a paperless office with Autoentry

  Benefits of a paper-free office Due to the nature of the job, there’s always a lot of paper, which can quickly stack up in the office. With even the smallest firms typically storing thousands of documents, going paper-free may seem daunting to start with. However, alongside the inherent environmental benefits, there are numerous operational and financial gains in transferring your physical files to digital records. Driving a culture of change When implementing a paper-free strategy, and whether your team is two or twenty, it will be important for everyone to be on board. Paper documents can easily get lost, or fall into the wrong hands, therefore digitising your records and implementing ‘a clear desk policy’, will not only better organise this data, but help to keep it protected. Digital tools are available to automate and streamline almost every line of business. With the strategic application of the right technology, firms can work more efficiently, whilst reducing their use of paper. Automating data entry is key    At Autoentry, their goal is to be part of the paper-free movement, by providing OCR-based software which helps businesses automate their bookkeeping data entry. Autoentry works by capturing and analysing details from scanned and photographed bank and credit card statements, bills, invoices, expenses and receipts and inputs them directly into a user’s accounting software; integrating with all major accounting software providers including QuickBooks, Xero and Sage. Available with a mobile app, Autoentry allows users to scan receipts on the move, and having posted the data to a user’s accounts software, the solution can act as your online filing cabinet, storing your documents...

Christmas Gifts for Employees, Clients and Suppliers

With Christmas around the corner it is a good idea to check what are acceptable “Gifts”    Christmas Gifts for Employees Are gifts to your employees claimable? Gifts may be classified as “entertainment” or “non-entertainment”.The provision of a gift to an employee at Christmas time, such as a hamper, may be a minor benefit that is an exempt benefit where the value is less than $300. Where the gift is given at the Christmas party, each benefit can be considered separately. For gifts such as wine, food, hampers, vouchers, etc., these are not considered to be entertainment. If the gift is a minor benefit (i.e., less than $300 value), then the gift is not tax deductible, and therefore GST is not claimable for gifts to employees and their family members. No FBT applies to gifts of less than $300. For gifts over $300, FBT may apply for employees and their family members. Gifts such as a holiday, membership to a club, or tickets to a theatre, sporting or musical event are considered to be entertainment. For minor benefits, as above, the gift is not tax deductible and no FBT applies. For employees this is not a minor benefit, the gift is tax deductible but it is also subject to FBT. Christmas Gifts for Your Clients and Suppliers Are gifts to your clients and suppliers claimable? Gifts may be classified as “entertainment” or “non-entertainment”. For gifts such as wine, food, hampers, vouchers, etc., these are not considered to be entertainment. Non-entertainment gifts to clients or suppliers are deductible and GST is claimable. Gifts such as a holiday, membership to a club,...

Thinking of Outsourcing Your Bookkeeping?

  Are you a business owner or operator who is considering outsourcing your bookkeeping? Then you’re in the right place! Read on to discover the benefits of outsourcing your bookkeeping to a qualified professional. Find out what to look for in a bookkeeper, what skills they have, and how a bookkeeper can help you run a more successful, profitable business. 10 reasons to outsource your bookkeeping Leveraging time is the goal of most smart business operators. Leveraging your time in business means that you achieve many tasks with the least personal input, thus reserving your time for the most important parts of your business. Outsourcing is a powerful business tool for those committed to leveraging their time. Done well, it brings significant benefits to your business. Consider the following 10 reasons to outsource your business’s bookkeeping. Outsourcing will: free you and your key personnel up to focus on your core business. save you money. A contract bookkeeper is significantly more efficient at dealing with bookkeeping issues and accounting software. This efficiency means the cost of you performing your own bookkeeping is likely to be higher. The opportunity cost (due to your time being spent on bookkeeping) may be significant again. offer you the ability to tap into a knowledge base not available internally. give you peace of mind knowing that you have complied with your legislative obligations. enable efficient dealings with the Tax Office, including lodgements. improve your financial reporting abilities, thus improving your access to key information with which to run your business. allow you to leverage the bookkeeper’s software knowledge, ensuring that you’re using the best software...