Time is nearly up for e-Record and if you or your clients are looking for an alternative, Xero is worth considering. e-Record is the free electronic record keeping system for small businesses provided by the Australian Taxation Office (ATO). This will no longer be available for download from 1 July 2010 and support will stop for existing users from 20 September 2010.
Xero is registered with the ATO and can meet many of your e-Record needs, such as:
- Producing a compliant tax invoice for sales
- Helping keep track of GST you receive from sales/income and GST you pay on expenses
- Creating a BAS with ease
- Easy Bank Reconciliation – Xero’s bank feeds mean you get data automatically from your bank and with our bank rules, cash coding and the ability to manually import bank statements, you don’t have to key in all your receipts and expenses before you can do a reconciliation
- You can share and collaborate with your accountant and produce reports required by the ATO
We also think it’s much easier on the eye!
Xero has several advantages over e-Record too. There’s no need for downloads or software updates. You can access your accounts anywhere, anytime there is an internet connection. Your data is always up-to-date and we take care of the security and data back-ups. Xero gives you greater visibility of your business and takes your focus beyond tax compliance. There’s also unlimited support and a world class Help Centre. Nor do we mind what operating system you use or if you’re on a PC or a Mac. And it’s important to note that because the data is presented in a way that is easy to understand, this will help reporting to the ATO.