Putting your shoebox online could save your $
Do you store your receipts in a shoebox for your Bookkeeper or Accountant? Why not scan all your dockets and receipts and save them in a folder for the month. The entire folder can then be emailed to your Bookkeeper or Accountant at the end of the month. This mean you don’t have to make a special visit to your Bookkeeper or Accountant and you have a record of it as well. All your receipts can then be put in the bin as you don’t need them anymore. An electronic copy is as good as a paper one, saves time and is cost effective.
If you’re operating on software such as MYOB or Xero, you also have the opportunity to use an add-on to manage your receipts such as Receipt Bank or Shoeboxed to name a few. Like anything, there are advantages such as easier reconciliation and also disadvantage such as they are a paid feature of the software. However, depending on your situation, the advantages may outweigh the disadvantages.
If you think an add-on might be the way to go for your business, we highly recommend that you talk to a bookkeeping or accounting professional first to ensure that you have the best add-on for your situation. There are tonnes of add-ons in the market and some suit specific industries or business sizes better than others.
For full details on Xero or MYOB add-ons, please call The Money Edge Bookkeeping Team on 07 4151 8898.
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