10 Reasons to Discuss Setting up your Accounting Software with your Accountant

Hi everyone, Sue here, your Xero Hero, and I wanted to discuss implementing your Financial Accounting Software.

I understand that as a business owner, managing finances can be a daunting task. One way to make it easier is by using accounting software, but it’s important to set it up correctly from the start. That’s why it’s recommended to speak to your accountant when setting up your accounting software. In this blog, I want to discuss 10 reasons why speaking to your accountant is crucial when setting up your accounting software.

1. Help Choosing the Right Software

There are so many accounting software options available to business owners, both free and paid. Having a conversation with us can help you choose the right software for your business based on its size, needs, and goals.

4. Better Financial Analysis

We can help you set up your accounting software in a way that provides better financial analysis. This can include setting up reports that show important financial data that is specific to your business. This can help with your forecasting, and initiating quality conversations with us, to make sure your business planning is on track.

5. Financial Compliance Maintained

Your accounting software can help you stay compliant with tax and other financial regulations. We can help ensure that the software is set up correctly to meet these compliance requirements.

6. Assistance with Integrations

Xero calls this their Eco-System. We can help you not only integrate your accounting software with other systems, such as your point-of-sale system or your e-commerce platform, but we can also make sure that you’ve got access to the right third-party apps that will help your business. This can help you streamline your business processes and make it easier to manage your finances.

If you want to know more about Xero and the Applications available, check out this Blog from Xero: The Apportunity

7. Save you time

Setting up accounting software can be time-consuming. We can help speed up the process, as we are already familiar with the software and can set it up quickly and efficiently. This can save you valuable time that you can use to focus on other aspects of your business.

8. Saving you Money

Setting up accounting software incorrectly can lead to costly mistakes. We can help you avoid these mistakes, which can save you money in the long run.

9. Ongoing Support

We can provide ongoing support for your accounting software. If you have any questions or issues, you can turn to your accountant for help and advice.

Better yet, have you considered if you need to bring us on board to help with your bookkeeping? Check out this blog on 5 signs you need a bookkeeper here.

10. Better Decision Making

By setting up your accounting software correctly with the help of your accountant, you’ll have access to accurate and up-to-date financial data. This can help you make better business decisions, as you’ll have a better understanding of your finances.

Accounting software is an essential tool for managing your finances, but it’s extremely crucial to set it up correctly from the start.

By speaking to us, you can ensure that your accounting software is set up correctly and tailored to the specific needs of your business. This can save you time and money, help you stay compliant with regulations, and provide you with accurate financial data for better decision-making. So, if you’re setting up accounting software for your business, make sure to speak to us for expert guidance and support.

If you have any questions, please feel free to contact us at NGR Accounting at (02) 9011 6669 or via email at  info@ngraccounting.com.au

Updated 11th April, 2023

JM