The single biggest issue in business surveys is the cost, and hassle, of compliance. It’s not just paying staff – its ACC, Health and Safety, and a range of industry codes and practices.
Technology can make a total difference.
Filing your GST Return electronically can make things a lot simpler. The same goes for the end of year tax return. Last year, 1.3million tax returns – over 80% of those e-filed – were done using a MYOB product.
Find a way of automating the requirements for your business. Anything you can systemise, from writing a hazard plan to updating staff training, can now be handled by a technology solution.
As for managing your books manually – it’s not worth the time or effort. There is a whole range of software specifically designed to manage that mountain of accounts, forms, invoices and bills.
The only thing you don’t want to do is ignore it, or get it wrong. The cost of any system will be far less than the cost of a fine, or a court case.
Author: Emma Scott, MYOB
What a wonderful idea!