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Amanda Fisher

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Member Since June 2017

Sydney, NSW, 2000

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A Chartered Accountant for over 30 years, I am the author of 3 books including Unscramble Your Numbers - Unlock the Secrets to Your Business Cash Flow. I'm passionate about new technology to improve efficiencies and eliminate time and stress of the bookkeeping in businesses. With a flair for making the complex simple and using easy to understand language, I take away the fear and stress that cash flow challenges create.

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Cashflow Management

How to Avoid a Cash Flow Nightmare

A cash flow forecast is a vital tool to predict any cash flow shortfalls. They help you mitigate risks and avert a crisis by raising funds through short-term bank loans, asset sales, refinancing and equity financing. You can also consider borrowing from friends and family, using your own funds or getting investors on board.​ Wouldn’t it be nice to know what the future holds? To know how mu...

Amanda Fisher answered this question

What's the difference in cloud and desktop accounting software

Hi Federica,I agree with most of what has been said already.  Desktop software is old technology (it was created when PC's first became prevalent in the late 1980's and early 1990's). Whilst it was great at the time, it's now a dinasour.Cloud systems are the way of the future (and as has been said below, beware of MYOB as it is not a true cloud system).  The most prevalent cloud system in Australia is Xero - it is the leader in this space and having been one of the very early adopters 7 years ago I can attest to the quality of the system, the security of data and the ecosystem that has been created around it that enables you to link your accounting system to inventory/POS, payroll and HR systems, CRM and so on.My experience with implementing Xero with my clients was a saving of 50-75% of the bookkeeping data entry time due to the automations within the system.For payroll Xero has a basic payroll within the system and does allow for use of timesheets too, But for a more comprehensive payroll system, the most popular is Deputy - nore info at    https://www.xero.com/au/marketplace/app/deputy/If you'd like to read more about the differences between cloud accounting systems and desktop software, I wrote the definitive book on the subject - Cloud Accounting - How to Transform Your Business with Cloud Accounting - which you can access here:https://amandafisher.com.au/connected-technology/  

Accounting

How to DIY with Cloud Accounting Systems

Every business, regardless of their state of progress and size should keep accounting records. Fortunately, the world of Internet and high tech allows for easier integration and use for all savvy business-owners through a lot of cloud accounting systems. Get a fresh insight on the benefits, how-tos and reasons for using cloud accounting systems to keep track of your company’s finances. Every...

Succession Planning

How to Choose the Best Accountant for New and Established Businesses

When starting a business, you need your accountant to offer certain services, such as business structure advice, accounting system advice and setup, and tax/compliance services. After you've established your business after some time, you may need a new set of skills or services from your accountant, like budgeting and cash flow forecasting. Take time to consider the traits you want in an account...

Cashflow Management

How to Avoid a Cash Flow Nightmare

A cash flow forecast is a vital tool to predict any cash flow shortfalls. They help you mitigate risks and avert a crisis by raising funds through short-term bank loans, asset sales, refinancing and equity financing. You can also consider borrowing from friends and family, using your own funds or getting investors on board.​ Wouldn’t it be nice to know what the future holds? To know how mu...

Accounting

How to DIY with Cloud Accounting Systems

Every business, regardless of their state of progress and size should keep accounting records. Fortunately, the world of Internet and high tech allows for easier integration and use for all savvy business-owners through a lot of cloud accounting systems. Get a fresh insight on the benefits, how-tos and reasons for using cloud accounting systems to keep track of your company’s finances. Every...

Succession Planning

How to Choose the Best Accountant for New and Established Businesses

When starting a business, you need your accountant to offer certain services, such as business structure advice, accounting system advice and setup, and tax/compliance services. After you've established your business after some time, you may need a new set of skills or services from your accountant, like budgeting and cash flow forecasting. Take time to consider the traits you want in an account...

Amanda Fisher answered this question

What's the difference in cloud and desktop accounting software

Hi Federica,I agree with most of what has been said already.  Desktop software is old technology (it was created when PC's first became prevalent in the late 1980's and early 1990's). Whilst it was great at the time, it's now a dinasour.Cloud systems are the way of the future (and as has been said below, beware of MYOB as it is not a true cloud system).  The most prevalent cloud system in Australia is Xero - it is the leader in this space and having been one of the very early adopters 7 years ago I can attest to the quality of the system, the security of data and the ecosystem that has been created around it that enables you to link your accounting system to inventory/POS, payroll and HR systems, CRM and so on.My experience with implementing Xero with my clients was a saving of 50-75% of the bookkeeping data entry time due to the automations within the system.For payroll Xero has a basic payroll within the system and does allow for use of timesheets too, But for a more comprehensive payroll system, the most popular is Deputy - nore info at    https://www.xero.com/au/marketplace/app/deputy/If you'd like to read more about the differences between cloud accounting systems and desktop software, I wrote the definitive book on the subject - Cloud Accounting - How to Transform Your Business with Cloud Accounting - which you can access here:https://amandafisher.com.au/connected-technology/  

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