AAA20_seal_finalists_Bookkeeping Firm of the Year

Notch Above revealed as Accounting Awards Finalist

Notch Above shortlisted for the Australian Accounting Awards 2020

Notch Above Bookkeeping has been named as a finalist in the Australian Accounting Awards for Bookkeeping Firm of the Year.  

The AccountantsDaily Australian Accounting Awards showcases the industry’s most prestigious accolades recognising excellence across the entire accounting industry. The awards pinpoint professional development and innovation, showcasing both the individuals and firms which are leading the way in the industry.

Award recipients represent a true cross-section of the accounting and bookkeeping industry, recognising the contributions of the profession’s most senior ranks through to its rising stars.

The finalists, announced over several weeks throughout May, feature over 260 high-achieving accounting and bookkeeping professionals across 33 submission-based categories.

“It’s been an extremely challenging time for the profession and I want to thank each and every one of you who have been burning the midnight oil to deliver the best outcomes for your clients,” said AccountantsDaily Editor Jotham Lian.

“To the finalists of this year’s awards, a sincere congratulations for consistently bringing your best to the table over the last 12 months.

“The work you do is vital, and we look forward to celebrating your achievements on the night.”

The team at Notch Above Bookkeeping is humbled to be recognised and proud to be named as a finalist in the Australian Accounting Awards 2020.

“Our recognition for our excellent contribution to the business bookkeeping industry reinforces the strength of our service and dedication to connecting with our community and engaging with our clients.”

The winners of the awards will be announced at our first-ever live broadcast awards on Friday, 19 June. With MC Vince Sorrenti, this live talk-show-style event will include live interviews with finalists and winners direct from their homes, and a newly developed app will keep contestants connected with peers, industry leaders, colleagues and friends. AccountantsDaily will continue to recognise the achievements of Accountants and Bookkeepers in 2020 despite not being able to gather physically.

To see the full list of awards finalists, visit the AccountantsDaily website here.

cloud accounting Notch Above Bookkeeping Brisbane

Has COVID-19 changed bookkeeping as we know it?

Digital Disconnection

Not putting too strong a point on it, the crisis triggered by coronavirus is an undisputed economic and business disaster.

What happened to businesses that rallied to set up their workforces safely offsite? And when bookkeepers were part of that headcount, how effective did the bookkeeping function remain?

Or how ineffective did bookkeeping become?

Conventionally in small and medium businesses, bookkeeping software is typically installed on a dedicated computer drive, only accessible by a licensed user through a desktop application on a designated machine.

So how is COVID disconnection affecting business performance during a time when we’re all talking about business sustainability and, hopefully, business recovery?

Currently we can’t just leave paper receipts or invoices on your bookkeeper’s desk to process.

Similarly, with that reliance on paper trails, some of us can no longer chase payments accurately, because who knows with any certainty who has paid, or not.

Fortunately, business technology was actively evolving before all this happened to a point that cloud accounting software had solutions for many of these accessibility issues. Bookkeeping software has, in most instances, also been moved to the cloud, and what a relief for those cloud users during these unprecedented times.

Playing catch up

The global spread of COVID-19 contributed enormously to the panicked surge of businesses moving over to cloud-based bookkeeping software. It’s an industry that had been seeing robust growth anyway, but the need to change in order to continue functioning finally pushed many stalwart business owners off the fence of indecision.

But what are the differences between cloud and traditional accounting software? As we see it, there are three:

  1. Accessibility
  2. Business scalability and growth, and
  3. Affordability

Accessing bookkeeping during lockdown

Cloud-based software essentially means that your bookkeeping data is stored on a remote server, and accessed through a highly secure online interface, anywhere with an internet connection. Unlike traditional accounting software, users are not restricted to a single machine from which to access what they need, so access doesn’t stop when the office closes.

It means that financial information is no longer stored locally and, instead, provides multiple authorised users with 24-7 access to real-time data. Managers, accountants, clients and bookkeepers can all be in different locations and time zones and yet continue to monitor and control a business’ financial position.

Growing bookkeeping with the business

Growing a business can be an expensive exercise for business owners who rely on traditional accounting software. Hiring an additional bookkeeper? Better purchase additional computer storage, upgrade the local server, and increase bandwidth access to it as well. If you don’t, things can slow down and suddenly two bookkeepers are working at the rate of one.

The impact of COVID-19 on bookkeeping practices has forcefully demonstrated the sheer versatile scalability of cloud accounting. It’s up to each software provider to manage server space, speed and performance which, usually for the cost of a monthly subscription, is much more financially flexible.

And that brings us to cost

Fewer local servers mean less office area is required to house them. That’s certainly one way to reduce the expenses that come with a larger property footprint.

Most cloud accounting software providers offer access on the basis of a monthly or annual subscription fee, usually including all the server storage you could need.

The software is online and updates itself at the source. No more paying for IT Support to come in and install updates on everyone’s individual machines.

At times like these, businesses either flourish or are incapacitated, whether that’s long or short term, who knows? Monthly subscriptions offer flexibility to businesses that need to respond to COVID-19 by standing down employees onto JobKeeper and then reinstate them on a rapid turnaround.

Notch Above Bookkeeping can help your business during COVID-19. We can review your existing bookkeeping system and then help you install updated software, configure your security settings, import your business data (chart of accounts/suppliers/debtors/employees) as well as setup your invoicing, payroll and taxation requirements so that your team can access financial data and operate remotely.

The team at Notch also provides advice on the best Xero package for your business needs. Contact us during COVID-19 restrictions to get your bookkeeping system up to date and working more efficiently whilst your employees are making the best of working offsite.

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Source: Has coronavirus changed bookkeeping forever? (2020). Available at:
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FREE Working from Home ATO factsheet

Employees working from home

Home office expenses

If you’re an employee who works from home during the coronavirus pandemic, you may be able to claim a deduction for expenses relating to that work.

If you are working from home, always remember to keep records and receipts for your home office expenses, along with a record of the hours you work from home.

Keeping good records NOW will help to get your deductions right at tax time.

Download the ATO’s PDF poster to help you better understand what you can claim or call Notch Above Bookkeeping on 1300 015 130.

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Disclaimer: This is general advice only. For specific income tax advice please consult a registered tax agent. Source: (2020) Available at: