Best Accounting Software in Australia?
I am about to start my very first business which is based in Australia. It will be a small business to start off with so I want to do my own accounts until there is enough money generating to outsource that job to an accountant.
Can anyone recommend a good accounting software for Australian businesses for doing all financial reports etc? I don't know whether or not to get a cloud based one or buy a software to download onto my computer etc.
I am very new to this so please forgive me for sounding very uneducated about it all - because I am haha.
- TwilightLv 68 years agoFavorite Answer
If you are just going to operate as a sole-trader under an ABN, you may get by pretty well just using Excel to record your income and expenses.
If you are setting up a Pty Ltd company; then MYOB is probably the most popular choice. I think the online systems like Xero and Saasu are okay; but they're also (in my opinion) rather gimmicky - do you really need to be able to invoice from your iPad whilst on the beach in Bali?
If you are going to buy and use software, I strongly recommend you do a Cert IV in bookkeeping at TAFE. If you use software you don't understand; you can really botch it up and an accountant will charge you a fortune to fix it.
By the way - you need to understand there's a big difference between a bookkeeper and an accountant. It's the difference between someone who charges $300 an hour and someone who charges around $65 an hour. Bookkeepers are the ones who maintain records. Accountants prepare and lodge company tax returns.
I would strongly recommend you talk to a good qualified bookkeeper or approach a local accountant and seek their advice on what the best system is for you - given your knowledge, business structure and likely needs.
All the best
- Anonymous7 years ago
Hope You are keeping well. There are many accounting software available for small businesses in Australia. Some of them even have a free or demo version and you can also find many that are cloud based. Here is a list of accounting software, that you can check out and choose the one that best suits your need-
Intuit’s ProSeries Software
MYOB (different versions)
Intuit’s Lacerte Software
Additionally, since you mentioned that you will be starting your first business and want to keep costs down, why don't you go for an offshore accounting / bookkeeping firm as their charges are much lower than what conventional bookkeepers and accountant charge. Since almost all accounting can be done on the cloud these days, I feel it will be best suited for your perpose.
I use - http://www.bookkeepingmonster.com/ because they provide flawless service, though there are many others and you can choose among them.
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