Tax time… it gets even the best of us. While we sometimes curse modern technology for being so all-consuming, maybe you should lean on tech to help you get on top of the tax-time (dis)organisation.
Between fossicking for receipts we’ve been stashing in our glovebox for a year and frantically emailing our impossibly patient accountant, we all curse ourselves for not being as organised as we’d sworn we would be last year on July 1. Guess what? There’s an app for that. Multiple, in fact. From budgeting to business know-how, here are a few tools you should keep in your EOFY survival kit to avoid – or at least minimise – the tax-time tantrum.
- ATO app: Get all of your tax tools and information straight from the horse’s mouth with the ATO app. Built specifically for recording your taxes throughout the year and calculating your deductions at tax time, whether you’re an individual, a small-business owner or a self-managed super fund trustee, there’s no better app to have at your fingertips come EOFY – or all year ‘round, for that matter.
- Xero: There aren’t many online bookkeeping programs that compare to Xero. With the ability to create recurring invoices and quotes, keep track of your inventory, calculate payroll and manage taxes, make purchases, schedule payments, manage expenses and so much more, Xero is your best friend in business. Plus, it integrates with more than 600 other apps, meaning you can add it to you toolkit with little-to-no disruption.
- Wave: What started out as a “scrappy bootstrapped startup” in 2010 has grown into an internationally-recognised, award-winning suite of financial services and software – created with small-business owners in mind. They’ve got accounting, invoicing, payments and payroll covered, but our favourite is Receipts by Wave, a free receipt scanning app that lets you keep all of your receipts in one place and syncs seamlessly with their other software. Genius.
- Spriggy: Your go-to for family budgeting, Spriggy was created to help bridge the gap between our current society and the cashless one we’re headed towards. Designed with kids in mind, the Spriggy app is made up of a ‘parent wallet’ and separate accounts for your kids – accounts which are also linked to their own personalised prepaid card. By managing your kids’ saving and spending habits, you can get an unparalleled understanding of exactly where all that pocket money is going.