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Bookkeeping – Which One Is The Best

The majority of people are aware that bookkeeping is a process that records financial transactions. The biggest challenge is finding the best system available at a reasonable cost. Here are a few of the most common ways that have been in use for quite some time with the advantages and disadvantages of each.

Online Xero

Xero is a computer system that is online and quite easy to use. There is no need to worry about backups or possess a specific kind of computer. Xero bookkeeping services provide a general method to manage your bookkeeping. You can also connect to the ATO as well as your accounting firm in a snap and even file your BAS online or access your bank balances online.

Software Programs

I believe almost everyone has been familiar with the giants of software, QuickBooks and MYOB, they are among the top programs for bookkeepers. The benefit of these kinds of software is that they've been around for a lengthy time and are simple to access.

The downside is that certain of them cost quite a bit and are usually only available for Windows Users. I've also found certain applications that are difficult to use and aren't very easy to master. There are times when you have to be trained in a QuickBooks or MYOB training program in order to utilize their software.

Do it yourself

Personally, I use my own charts and spreadsheets that I believe are the most efficient way to get me started on learning about the accounting process and bookkeeping. I create the financial report myself. You might be thinking that it's a lot of work, and it is, however, I'm the kind of person who wants to be aware of the source of my income and where it's coming from and it's definitely less expensive than other options for me right now.

Which is the best?

To be honest, it's all about how you prefer to work. I'm sure that, in the future, I'll probably use one of these software programs since I feel it's a better choice. But I'm sure I won't choose to use similar programs because I'd prefer to stand out and choose an option that is user-friendly, simple to use and cost-effective, tailored to my needs, and compatible with various platforms. 

 

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