The New Zealand government recently announced that Inland Revenue is going paperless. Soon, it will start offering electronic statements, notices and correspondence electronically. Small businesses in New Zealand can enjoy the benefits of these services - and go paperless as well to reap the advantages of this approach.
The government decided to switch to an eDocuments system for a number of reasons. It pointed out that this method makes it easier for you to monitor your Inland Revenue information because the documents are all stored in one place and you can view, print or save them whenever you need to.
It's also easy to share information with other people who need access to it, such as a delegate to file your GST returns.
When companies choose programs, such as business accounting software, to replace paper processes in other areas, they can enjoy many of the same benefits. Not only does this step cut down on paper expenses and help the environment, it gives organisations a convenient way to manage their information from a central, highly accessible platform.
Furthermore, electronic data is easy to share with relevant parties. For instance, CashManager by Accomplish gives small businesses a convenient way to send reports with their GST101 form to the IRD for review. Businesses can even import their downloaded bank statements to consolidate all of their financial information in one place. Because the information is stored in the program, it's easy to grant access to the people who need to work with it by managing user accounts.
In general, the world is moving in a paperless direction because these options streamline processes, simplify communication and create more robust opportunities for reporting and management. Transitioning to a digital solution for your accounting needs doesn't require complicated programs - in fact, the leading solutions are designed to make your workflow as simple, intuitive and convenient as possible.