Institute of Certified Bookkeepers

Cloud computing is here to stay. Many industries have been transformed through the introduction of online technology and particularly mobile applications. The ABS survey indicates that the highest arena of online business functions is accounting and financial transactions, including invoicing, ordering, and communicating with customers.

Tradespeople and other businesses with mobile employees have found great benefits through mobile invoicing, payment options, timesheet entry and GSP tracking.

One of the biggest factors listed as preventing businesses in taking up cloud computing was a lack of knowledge. Bookkeepers, you can be the experts here in advising those clients who are reluctant to move online. You can educate your clients and expand their horizons about the technology available to assist them in running their business systems and accounting / financial systems efficiently.

Interesting Statistics

  • 95% of all businesses as at 30 June 2014 had internet access. Of those, 99% access the internet via broadband, mostly by DSL connection.
  • 19% of businesses use some kind of paid cloud computing service - mostly software subscriptions, followed by storage.
  • 51.6% of businesses cite increased productivity as the main benefit of online computing services.
  • Of all the types of business activities conducted online, by far the biggest category is financial activity. Following that category, remote work, research, and online training categories were significant.
  • Of the financial transactions, 85.1% of business conducts a significant proportion of general accounting processes online. Invoicing and payroll follow closely.
  • More than one in three businesses has a social media presence at 30 June 2015 - this could be Facebook, Twitter, LinkedIn or YouTube. Most use this technology for engaging with customers as the priority.

Electronic Lodgement with Government

We see more and more businesses lodging with government via electronic means. The mining industry has the highest level of electronic lodgement with government; they also have the highest level of lodging taxation forms.

Electronic Lodgement with Government Organisations by Employment Size 2013-2014

 0-4 persons5-19 persons20-199 persons200 or more personsTotal
Taxation forms % 49.3 55.1 69.5 84.8 53
Claims for grants or benefits % 4.1 8.4 16.8 35.6 6.7
Applications for licenses or permits % 20.1 27.4 36.3 40.6 23.8
Payments % 59.8 70.5 76.3 85.8 64.7
Other electronic lodgements % 4.2 4.1 4.9 9.6 4.3
Any electronic lodgements with government organisations % 75.6 83.1 91.2 97.7 79.3
  • Updated: 23rd August, 2016