A client contacted us and said :
just touching base with you. not too sure when we going to need the QuickBooks [software and bookkeeping system set up], my accountant advised we dont need it in a hurry az yet, since we dont have an awful lot of paper work to put through the system. I will let you know if we will go ahead with the package and quick run through.
The accountant is correct to some extent
However, if you really are considering using an accounting software package, it is preferable that you start at the beginning of a financial year, rather than part way through a financial year.
When you set up the software you would need opening balances - and a good place to start [in Australia] is 1st July, at the beginning of the financial year.
We believe that it is a “false economy” to be continuing with a manual bookkeeping system “until you have more paperwork”.
Whilst it may not seem justified at the moment, it’s really the same argument as saying that you don’t really need a separate bank account for the business until you have “enough” transactions.
So let’s ask the question, at what stage is “enough paperwork” to justify a computerised bookkeeping system?
1st Quarter: 28/10/08
Ever thought about Starting Your Own Bookkeeping Business? 
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