Understand the risk your business faces
Do you understand the risk your business faces ? As someone who has deep experience in risk management, I thought I had identified all the possible risks my business would face and had the appropriate risk management strategies in place. However sometimes you get blindsided. Take yesterday for example; I arrived at my office only to find the internet down. Not really a big deal as I thought it would give me time to work on other issues, however unfortunately a number of those issues were in the cloud. I am a user of cloud based accounting software and I encourage my clients to adopt this new approach to business software. So as the use of cloud based applications grow there is a need to firstly ensure you have a reliable ISP, in my case it is @telstra #bigpond and secondly you need to identify a mitigation strategy. In this case the most simplest is to go and purchase a wi-fi dongle, which I am using to write this post. I further strengthened that strategy by purchasing from another telco, This way I mitigate the reliance on the on telco.
So in conclusion it is important that you have a risk management plan but remember that the plan is only relevant for a period of time and that it needs to be regularly reviewed and updated. So do you understand the risks your business faces.
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PB Accountants recommend Quickbooks Online (QBO) and XERO (both cloud based). We’ve had plenty of experience with both packages-- and believe that (except in rare cases) one or other of these will be the best accounting system for our clients.
Need help choosing an accounting system? Just get in touch with Michael and he’ll help you decide.
If you decide you’d like us to take over your accounting, we will contact your old accountants on your behalf and ask them to forward all your information to us. We’ll also notify the Australian Taxation Office of the change. Done.
While we use and recommend Xero and Quickbooks Online, we’re happy to work with any accounting package you choose. After all, it’s you and your business we’re here to support.