The accounting industry is going to face a huge loss, expected up to $500 million due to some changes by ATO (Australian Taxation Office). Standard Business Reporting (SBR) technology changes can be used by the general lender of business to attach an equivalent of ATO's bar code. These changes might leave you confused. So to avoid such confusions and creating problems for yourself, hire bookkeeping service in Sydney.
Two way data transfer:
With the latest changes in the technology, the data will now be transferred from both the ways between the ATO and individual business. This will make it lot easier for the business owners to file BAS and Tax returns. But for the same reason the accountants and the tax agents will lose huge amount of money for not hiring their services. The software might create problems at time as it implemented for the first time. To be on a safe side, hire reliable bookkeepers for your business.
Financial advisor speaks:
A financial advisor from a renowned firm in Australia said that, “If the accounting firm adds the revenues from outsourced chief financial officer (CFO) services.” The advisor further added that, “By this the accounting firms can recover from the revenue loss and will be back on track.”
As the changes made are from ATO and are not well-known to all the business owners, it might be risky to use the technology without any proper guidance. So it is better to hire bookkeeping service in Sydney or accountant to get the things right for your business.
With the latest changes in the technology, the data will now be transferred from both the ways between the ATO and individual business. This will make it lot easier for the business owners to file BAS and Tax returns. But for the same reason the accountants and the tax agents will lose huge amount of money for not hiring their services. The software might create problems at time as it implemented for the first time. To be on a safe side, hire reliable bookkeepers for your business.
Financial advisor speaks:
A financial advisor from a renowned firm in Australia said that, “If the accounting firm adds the revenues from outsourced chief financial officer (CFO) services.” The advisor further added that, “By this the accounting firms can recover from the revenue loss and will be back on track.”
As the changes made are from ATO and are not well-known to all the business owners, it might be risky to use the technology without any proper guidance. So it is better to hire bookkeeping service in Sydney or accountant to get the things right for your business.