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6 Essential Tips for Psychologists Choosing Record-Keeping Software

Updated: Mar 22

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1.     Ease of use: Choose software that is user-friendly and easy to operate. Look for software that has an intuitive user interface, and requires minimal training to operate. Ensure that you and your employees can understand and use the software to maintain accurate records.


2.     Record-keeping requirements: Choose software that enables you to meet your record-keeping requirements. Check if the software is compliant with tax and superannuation obligations, and can produce accurate records of sales, refunds, and exchanges. Ensure that the software can also manage payroll requirements, including wages, annual leave, and long service leave.


3.     Reporting to the ATO: Choose software that enables you to report digitally to the ATO. Ensure that the software is compatible with Single Touch Payroll reporting obligations and other digital opportunities, such as eInvoicing.


4.     Functionality: Consider the functions you need your software to perform. Look for software that can record sales, manage stock and customers' orders, produce invoices and receipts, and manage multiple bank accounts or businesses. Additionally, check if the software can handle foreign currency, do budgets or forecast cash flow, and provide regular reports.


5.     Future-proofing: Ensure that the software can adapt to your business's changing needs. Regularly review your software package and check if it's keeping up to date with the functions you require. This will help you take up new digital opportunities and interact with the ATO effectively.


6.     BAS and tax agent advice: If you use a registered tax or BAS agent, seek their advice on the software's functions to ensure that you can meet your tax, super, and employer obligations, including any recent changes to law.


In summary, it's crucial to choose record-keeping software that is user-friendly, complies with tax and superannuation obligations, and can adapt to your business's changing needs. By following these tips, you can select software that meets your record-keeping requirements and helps you maintain accurate records.

 

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