Every business, regardless of the goods and services offered, needs good bookkeeper professionals to make sure that all financial activities are properly recorded and organised. Compiling financial report is a major part of company activities in relation to revenues, loss, tax, and planning. Start-ups probably cannot afford to hire professional accountant, but there are always some reliable applications or online accounting software to help them manage. These are some of the best online accounting software or services that work seamlessly in accordance to Australian legislation.
Xero is the giant in online accounting industry, not only in Australia but also many other countries. Mobile and desktop applications are available and compatible with all major operating systems including Mac, Windows, Android, and iOS. The real benefit is that you can access, process, and analyse data on-the-go as long as you have Internet connections. Advanced reconciliation process also allows for importing and categorising bank transactions at ease. All business financial activities including but not limited to recent banking, PayPal payment, and credit card expense can be imported and categorised too. Xero also offers comprehensive payroll management. Basic Xero package is available from $25 AUD per month.
- QuickBooks Online
All the basics of bookkeeping are covered very well by QuickBooks Online. Business owners can track and manage income, expenses, and profits with no hassle. The service also allows for processing of unlimited amount of invoices. All data are stored online and accessible from both mobile devices and desktop computers. Its cloud computing platform offers an excellent security protocol in the same level you get from modern banks. Apart from the comprehensive set of features, QuickBooks is also popular for its competitive price starting at $13.50 AUD per month.
The only reason that Saasu is not currently a mainstream accounting cloud accounting platform in Australia is that the company has not invested heavily on marketing. In terms of features, however, Saasu stands in the same level (if not higher) than any competitor in Australia. The service even provides international transactions management with over 50 foreign currencies. All transactions using foreign currency accounts will be automatically converted to local currency. There is an automatic scheduling for recurrent expense and sales, minimizing the possibility of human error in reporting. Smart bank fees are provided to perform reconciliation in more time-efficient manner. Invoices are customizable. You can set Saasu to prompt customers for payments and automatically enquire overdue accounts. Pricing starts at $15 per month.
The product of a home-grown Australian project, JCurve comes in two different packages: standard and advanced. For small to mid-sized business, the standard package is likely to cover all the basics of accounting related to invoices, statements, purchase orders, sales, accounts payable/receivable, and automatic reminders. Bank feeds are included in the standard package as well, and you can set it to download the statements on regular basis such as daily, weekly, etc. Credit card authorisation for both online and offline sales are available, too. The advanced package stretches the functionality to enterprise level with CRM, e-commerce, marketing, inventory, order managements, and more. Price starts at $49 AUD per month.