Look to automate as much of your administrivia and backend procedures as possible. Start with any of the functions that are repetitive or time-consuming.
Automating these processes will assist in reducing the amount of time taken giving you additional capacity to take on other functions. You can get the best
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Typical applications you should consider are word processing and spreadsheet functions.
Using word processing applications allows you to set up templates, merge documents and create forms, or you can go one better and install software such as Microsoft Groove and create online forms. Email applications allow you to communicate quickly and easily using email
2. Formalise Finances
Installing Accounting applications, such as MYOB or Quickbooks, is a fantastic way to formalise your finances.
It allows you to quickly and easily enter your financial information. It also allows you to work quickly and effectively with your accountant when it comes preparing Business Activity Statements, end of month financial reports and end of year taxation activities.
This all helps keep your accounting fees under control. Another benefit is that you have the ability to create a raft of important financial reports, including cashflow forecasts, debtor aging, sales reports, etc which helps to provide vital information to assist in effective decision-making.