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Today’s smartphone technology and apps can make the lives of e-commerce SMB owners simpler – and save them hours of time in their tax accountant’s office at the end of financial year, too.
While there are a number of apps designed to simplify business processes, there are also issues around apps potentially making data more vulnerable to being seen, stolen or accidentally deleted, so first follow these simple guidelines:
Once you’ve ticked off these steps, make your business life easier with apps such as these..
Free for iPhone, iPad, Android, Windows Phone
The official app of the Australian Tax Office, this useful tool is built in two sections, one for individuals and the other for small businesses. It allows you to track, calculate and find relevant tax information, such as ways to lodge returns, the progress of returns, superannuation guarantee eligibility for a staff member, employee and contractor definitions and responsibilities, access to “small business assist” and, of course, current income tax rates. There’s lots more, too, on this easy-to-use app.
Free for iPhone, iPad, Android
This app from the Australian Securities and Investments Commission allows you to enter your total budget for various types of expenses and then track them within categories, whether they are personal or work related. Each expense can be easily added wherever and whenever the money is spent, and work, personal and goal-oriented spending can be kept separate. When it comes to tax time, the categories can be split into weekly, fortnightly, monthly and annual amounts for reporting purposes.
Free for iPhone, iPad, Android, Windows Phone, BlackBerry
You and your staff can now track expenses on the go instead of having to manage a shoebox filled with tatty receipts. Expensify allows users to use their smartphone camera to photograph receipts and then files them digitally. The app can also be linked to your bank account to automatically import expenses. And it allows separation of amounts in various categories and integrates with accounting systems such as Xero and QuickBooks. A desktop version offers more detailed reporting on your spending.
$10.99 for iPhone, iPad
Compliant with the ATO’s logbook-keeping guidelines, the VehicleLog app is one of the simplest ways to record business use of a vehicle. The app doesn’t just record the data you input, it can also use your GPS to measure distance, it integrates with other apps on your smartphone – such as your calendar and contacts – and it supports single vehicles, large fleets and mixed-use vehicles. PDF reports from the app can be sent straight to your accountant or finance department. Also check out free ATO-compliant logbook apps such as Logit Fleetcare .
Free for iPhone, iPad, Android
How many times have you lost, or simply thrown away, receipts whose amounts could be tax deductible? Now there’s no excuse not to maximise your reimbursements. This award-winning app encourages you to take pictures of receipts. And that’s all you need to do. Within the app, the receipt image is then smart-scanned, data extracted, organised and archived after being verified for accuracy. Expense reports can be generated with just a few taps or exported to accounting software such as Xero, QuickBooks or Excel. The free version is limited to five scans per month. You can then pay to move up to various levels, from 50 documents a month ($19.95/month) to 1,000 documents per month ($177.77/month), with several options in between the two.