Good record keeping is essential.
Startup founders take note. It’s important to have robust financial record keeping and reporting in place from day one.
Implementing a cloud-based tool such as Xero into your business is one of the best and most affordable investments you can make. When set up properly, it’ll scale with your startup and provide the information you need to make great business decisions now and into the future.
Why startups and SME's need to nail record keeping
When you really know your business, you make better business decisions.
Keeping good records keeps you across your business’s health, helps you meet tax and super obligations, manage cash flow and demonstrate your financial position to external parties. (Hello investors!) Our advisors have compiled the 6 key reasons why record keeping is important for startups and SME's.
How to keep good business records
The best way to keep good records is by investing in digital tools.
Digital record keeping streamlines your accounting practices so you can focus on your business. It helps you keep track of business income, expenses and assets, and can calculate things like depreciation easily. Implementing a cloud-based tool such as Xero into your business is one of the best and most affordable investments you can make. When set up properly, it’ll scale with your startup and provide the capability you need to keep great records now and into the future. We can help you convert your books to Xero , or recommend the right tools for your record keeping needs.
