Remote Bookkeeping and OnLine Accounting Services Australia

Businesses maintain accounting personnel to keep good records, calculate wages, tax payments and other mandatory fees, prepare income statements and other related activities. Employing a regular accounting department, however, may be beyond the budget of a small business with relatively lower transactions. The ideal solution for reliable and easy bookkeeping is intelligent accounting software. With the latest version of Quickbooks Online, accountant work is significantly reduced, leaving business owners more time to focus on marketing and other equally important activities.

What is Quickbooks Online Accountant Software

Quickbooks is a line of business accounting software immensely popular among small business owners who have little or no accounting background. Originally developed for desktop installation, its developer Intuit, later created an online version which provides access to the same sophisticated software through a log-on account and password.

Features of Quickbooks Online

Paperless recording: Bookkeeping is performed using a computer with broadband Internet access. Costs, quantities, and other relevant values are encoded in the online system which automatically calculates total amounts, taxes due and mandatory fees.

Mobile access: This accounting system may be used wherever one can access the Internet using a laptop, tablet or mobile smartphone. Mobility ensures financial data is kept up-to-date and allows managers and bookkeepers flexibility at work. All you need is a device which has Internet access, a broadband connection and a browser such as Internet Explorer, Firefox or Chrome.

SBR-enabled: Standard Business Reporting or SBR is the fastest method of sending reports to government agencies such as the ATO. For tax purposes, a small business must regularly prepare and lodge its Business Activity Statement (BAS). Quickbooks online not only helps you prepare this statement but also allows you to submit it to the ATO and receive instant notification of its submission. Electronic forms and online submission reduces the burden of tax compliance by minimizing time spent in preparing and submitting statements.

Tax compliant: This accounting system is hosted remotely by Quicken’s Australian licensee, Reckon Ltd. As a hosted system, the software provider takes care of patching and updating the software in order to comply with new tax laws and regulations.

Starting July 1, 2011, employers must provide Parental Leave Pay to employees. Ordinarily, employers require detailed guidance on the proper computation to avoid penalties. Users of Quickbooks online accountant system, however, need not perform any adjustments to the software as the system has been updated to include instant calculations for this mandatory pay.