We’re getting close to the end of financial year (EOFY), and as a small business, this can be an overwhelming time to manage, on top of the day-to-day responsibilities of running a successful business. one thing we can do is make tech work for you this EOFY
Research commissioned by Dropbox revealed 38% of Aussies admit their digital documents are a “hot mess” meaning they usually have to hunt for what they are after – and at this time of year, small business owners and sole traders begin to scramble towards the end of June. There’s no better time than right now to invest in technology that can make tax time a breeze.
Make tech work
- Digitise to free your mind
Do you and your employees always have access to important documents and files? If not, you’re not alone – more than seven in ten (72%) Australians admit to not having digital backups of all their important documents. To make sure all files and documents are always available and secure, digitise them and store them on a trusted cloud platform.
- Automated features and functions
Pick a tech platform with features that can be a help, not a hindrance so you can save yourself the hassle and leave all the ‘busy’ work to the tech. For example, the Dropbox platform automatically syncs files from devices straight to the cloud, so you can ‘set and forget’. Becoming familiar with all the features and functions will allow you to focus more on growing your business and less on admin.
- Organise, organise, organise
Once you’ve digitised, it’s time to organise! Use your chosen platform’s key functions to create folders and subfolders separating out key files and documents required for tax time for your small business. Dropbox has an automatic filing function which can be a real-time-saver, as well as an awesome search function so you can easily find what you need.
- Transfer files with ease
Now the fun part – sending off your documents to the accountant. Dropbox Transfer can send your consolidated files at the click of the button, and your tax agent won’t even need a Dropbox account to receive them.
- Electronic signatures
Ditch the old hard copy of your tax return for a digital copy instead. In addition, ask your tax agent if they offer electronic signatures so you can sign your tax documents virtually. Dropbox has a HelloSign integration which allows you to get your taxes signed off with a couple of clicks.
Taking these simple steps and investing in technology to make tax time easier for yourself and your team, allows you to focus on taking your business to the next level.
This article was written and provided by Dropbox