Small businesses continue to reap benefits in the age of digital disruption. Advances in technology and new initiatives can bring significant costs savings to small business owners, enabling you to re-invest in business growth and perhaps take that break you’ve dreamt about.
For example, the Simpler BAS initiative by the ATO will make life easier for small business as well as bookkeepers and accountants. It will improve compliance, save precious time and reduce mistakes often made with manual entry of information.
Another surprising benefit is that Simpler BAS also provides small business owners with an opportunity to carefully consider the way you engage your accountants and bookkeepers (if they’re registered BAS agents).
We’re customer focused at Intuit, so I recently spoke with one of our customers Lielette Calleja to find out more about Simpler BAS. Lielette founded All That Counts and joins our impressive speaker line up at QuickBooks Connect.
The real value of accountants
Lielette confirmed many of the anecdotes that I’ve heard from Aussie small businesses owners: in the past, they paid a hefty price for not correctly reporting BAS and, in some cases, this has equated to thousands of dollars spent on regulation and compliance.
She told me, “The real opportunity for Simpler BAS will be the realignment between business owners and their accountants. Too many small businesses consider their accountant as the person who only deals with compliance tasks when they can actually add more value, like offering advisory services and strategic insights.
“Simpler BAS is win-win for small businesses and their accountants, as it frees up time for each party. This enables accountants to move into a position of becoming a trusted business advisor.
“In my practice, our advisory services include giving business insights to customers on their key value drivers. Value drivers include factors such as pricing which is critical to a small business owner because it will drive profit more than anything else.”
Making life easier for small businesses
I’m delighted that QuickBooks Connect (#QBConnect) will explore key ways that small businesses can get ahead and prosper, especially in partnership with their accountant or bookkeeper.
Intuit's new Aussie QuickBooks Online customers were among the first invited to try the simplified GST component of Simpler BAS, via an alpha test in partnership with the ATO. Their feedback will improve the system and process before it’s rolled out nationally.
Our commitment to this project reflects Intuit's wider commitment to supporting the 2.7 million Australian small businesses that fuel the economy; you are vital to building a prosperous nation.
As such, I warmly extend an invitation to you to attend QuickBooks Connect, to be held in Sydney on 18 May. The event will unite hundreds of diverse audience members under one roof to connect, learn and be inspired by high-profile speakers, unique experiences and insightful content. By attending, small businesses owners, the self-employed and accountants will receive the tailored information and advice they need to build, run and grow their business.
Do use this promotional code to receive a 20% discount when you register: GROW http://quickbooksconnect.com/au/