Once upon a time businesses employed bookkeepers whose job it was to write up all the financial transactions that occurred within the business. Originally, this was all handwritten into large journals. With the advent of computers, software was developed that, to some extent, automated this process. A business would purchase a software package, install it on their own computers and employ bookkeepers to enter the required data. Whilst many businesses employed full-time bookkeepers, this “new” way of bookkeeping opened the door to part-time and contract bookkeepers. Nowadays, there are a number of Internet and browser-based accounting and bookkeeping software programs that can be accessed by paying a monthly fee. This negates the need for outright purchase of an often expensive software package. This is generally known as online bookkeeping. There are bookkeeping businesses such as ourselves, Virtual Bookkeeping Solutions, who can advise on the most appropriate accounting software programs, set them up for you and then look after the data input if needed. See our list of services. The advantages of Online Bookkeeping Australia are many and include
- 1. Convenience
Online bookkeeping software can be accessed from anywhere there is an internet connection and at any time of the day.
- 2. Multiple Users
Two or more user can access to data at the same time. This can be helpful if you need your accountant to look at your books
- Bank feeds
Nearly all the major software programs allow bank feeds, where your bank transactions are automatically fed into your accounting software directly from your bank on a regular basis. This eliminates manual data entry and enables you to have your transaction up to date quicker than would otherwise be possible.
- 4. Security
Online accounting software companies are extremely mindful about security and privacy. They simply can’t afford to have a security breach so they do all they can to make sure that everything is airtight. In many instances the security is equal to that offered by online banking.
- 5. Backing up
Never again will you have to worry about backing up your data. Everything is backed up automatically.
- 6. Software upgrades
Any improvements or upgrades to the software you are using are free and are instantly available. For more details about the availability and pricing of online bookkeeping software, or internet bookkeeping software go to our Software for Bookkeeping page.