Computerised accounting systems

Created: August 21, 2013 at 4:18 PM | Updated: June 14, 2024 | By Community Resource Kit

Why Choose Cloud Accounting Software?

Upgrade your financial management with cloud accounting software, offering flexibility, accessibility, and seamless integration with digital tools.

Selecting the Right Software

Research various cloud accounting software options. Seek advice from experts and peers to find a secure, user-friendly solution that meets your organisation's needs.

Key Features to Consider

  • Real-time financial data.
  • Automated processes.
  • Customisable reporting.
  • Integration with other software.
  • Scalability.

Setting Up Your Chart of Accounts

Tailor your chart of accounts to provide the level of detail needed for your organisation's reporting requirements. Learn more about Chart of Accounts from Xero.

Managing Transactions

Streamline transaction processing with automated features like bank reconciliation and bulk payment generation.

GST Processing

Ensure accurate tax recording with automated GST allocation features. Check out Xero's guide to GST for more information.

Bank Reconciliation

Reconcile bank accounts monthly using the software's automated reconciliation functions. Learn more about bank reconciliation from Xero.

Consider a Cash Book System

For smaller groups or those not GST-registered, a cash book system can be a simple and effective alternative.

Use your cash book to record what your organisation sells and buys. It should show how transactions were made, including: direct credits; internet banking; telephone banking; automatic teller machines.

Download model cash book template (pdf)

Download model cash book template (xls)

Conclusion

Upgrade your financial management practices with cloud accounting software. Choose a solution that enhances your financial efficiency and integrates seamlessly with your organisation's operations.

 

Next page: Financial reporting

Previous page: Financial record keeping

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