Category: Blog

"As machine learning and AI have an increasing role in the professional, it will make you more proficient, more productive, capable of taking on and handling more clients, while also delivering more value through insight, rather than through long hours of tallying up figures" The above quote is taken from a great article on the Xero Blog about artificial intelligence and its impact on the accounting profession.  I've read some interesting articles on AI and machine learning and the future effect they may have on the bookkeeping and accounting industries. One recurring theme I've come across is the suggestion that when the AI code is finally cracked (and we're not far off), every company will be using it within four to five years and as a result, bookkeepers and accountants will become defunct. Trust me - not all businesses will automatically automate. AI and machine learning will be incredible tools for only those people and businesses that choose to use them. Think back to...

For the past two months we've been testing different invoice and expense automation software that integrates with Xero.There are a lot of great options in the marketplace, but at the end of all the testing and trials, we chose Receipt Bank.For those of you unfamiliar with Receipt Bank, it allows small and medium sized businesses (and individuals and sole traders!) to save time by automatically pulling all the relevant information from invoices and receipts accurately and efficiently.No more manual data entry. No more filing and storing paper invoices and receipts. It allows you to go completely paperless.Receipt Bank has three great functions to achieve this:Receipt Bank app - download the free app, take a photo of the receipt and you're done! This is great for when you're on the go and get a paper receipt from a cafe, Officeworks or a petrol station etc.Receipt Bank email address - each business will receive it's own dedicated email address (yourcompany@receiptbank.me). If you...

We can help! Whether you're starting your own business or been around for years, Equity Books can help with your bookkeeping needs. We specialise in cloud-based bookkeeping using accounting software like Xero and the hundreds of incredibly useful Add-Ons available in the Xero marketplace. Equity Books can: set up your new business or convert your existing business to Xero (we can also manage a range of other software including MYOB, QB and more) provide standard bookkeeping services including invoicing, expenses, reconciliations. Payroll, superannuation and BAS is also available through our registered partner management reports with analysis provided on weekly, monthly or quarterly basis All of our services are provided by qualified Chartered Accountants. With the technology available today, a bookkeeper should effectively be your business's finance function not only processing the inputs, but helping you analyse the outputs to help you make better business decisions. Let Equity Books focus on the finances, while you focus on growing your business. Call Andrew on 0400 070 080 to find...