We purchase tools to make a job quicker, easier, and ensure it’s completed to a high standard. This is the case whether buying tools to fix some household chore or manage our practice billings. New software programmes and apps are being released daily that promise to revolutionise how accountants work and service clients. We need to adopt the ones that meet our needs and ignore the rest.
Tax, ledger, ASIC register, SMSF compliance, and asset register are the most common compliance software tools used. The tax module for example is used by practices to prepare, lodge and manage tax returns quickly and easily. The major Australian software providers are Sage HandiSoft, Xero, MYOB, Reckon, and CCH.