Why you need bookkeeping technology for your start-up business!

If you’re a millennial and you’ve started a business, bookkeeping/accounting might be the last thing on your mind. But it shouldn’t be.

Did you know that 60% of small businesses in Australia fail within the first three years?

Cash flow issues are the leading cause of that failure, so it’s important to get on top of your finances right from day one. That means ‘knowing your numbers’. Sounds tedious and boring right? Well, it doesn’t have to be!

You’ve probably heard the old saying that you need to ‘work smarter, not harder’. One way you can do that is by using bookkeeping technology to make sure you have all the latest financial information for your business at your fingertips. When you do, you’ll be able to make smart business decisions anywhere, anytime.

Xero is cloud-based accounting software that can help you to do that. It’s very simple to use and it will save you time. It can be set up to instantly track your sales and payments, so that your business runs smoothly. It can also automatically generate reports to help you with your business decision-making.

Being your own boss is one of the perks of running your own business. One characteristic that all good bosses have is that they use their time effectively. The best way to do that is to outsource or delegate tasks so that can be done more efficiently. Then you’ll have more time to focus on all the other things that you need to do with your business, or that you want to do in your personal life.

How we can help

At Scorpion Bookkeeping, we’re a Xero-certified advisor and we specialise in supporting innovative business owners with the bookkeeping support services they need. We currently provide support to business clients in South Australia, Victoria and New South Wales.

Contact us today to find out how we can help your business!

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