Talking Cents

How to Find Accounting Packages for Your Small Businesses in Sydney

Selecting the appropriate accounting package is a pivotal decision for small businesses in Sydney, directly influencing financial efficiency and compliance. In 2025 the financial landscape is evolving rapidly and Sydney's small business owners face the daunting task of selecting appropriate accounting solutions amidst a sea of options.

With the Australian Tax Office's digital transformation pushing most businesses towards electronic lodgment systems, the necessity for robust accounting packages has never been more pronounced. Let us learn more about it.

Understand Your Requirements

Before delving into the marketplace, conduct a thorough assessment of your business needs. Consider whether you require comprehensive payroll management, inventory tracking or merely basic bookkeeping functionality.

The size of your operation significantly influences your choice. Microbusinesses with turnover under $75,000 may find cloud-based, simplified solutions sufficient, whilst growing enterprises approaching the $10 million small business entity threshold require more sophisticated reporting capabilities.

Selecting The Right Accounting Package

The Australian accounting industry is rapidly evolving, with 51% of businesses identifying as early adopters of digital tools. This trend signifies a shift towards embracing technology to enhance efficiency and competitiveness. But when finalising a package for Your Small Businesses in Sydney, it is important to consider the following:

1. Cloud-Based Solutions: The shift towards cloud computing offers small businesses flexibility and scalability. Cloud-based accounting software allows real-time access to financial data from any location, facilitating remote work and collaboration.
2. Automation and Artificial Intelligence (AI): Automation reduces manual data entry, minimising errors and freeing up time for strategic tasks. A vast majority of Australian accountants have utilised AI in the past year to assist with data entry, fraud detection and providing real-time financial insights. This high adoption rate highlights the critical role of AI in modern accounting practices.
3. Scalability: As your business grows, your accounting software should adapt to increased transactions and complexities. Opt for solutions that offer scalable features to accommodate future expansion without necessitating a complete system overhaul.
4. Integration Capabilities: Ensure the chosen software can seamlessly integrate with other tools and systems you use, such as Customer Relationship Management (CRM) systems, payroll services and inventory management. This integration fosters a cohesive ecosystem, enhancing overall efficiency.

Factor in the Implementation Considerations

When transitioning to new accounting systems, Sydney businesses typically require 4-6 weeks for complete implementation. Allocate reasonably sufficient hours for staff training, regardless of the chosen platform.

What Australian Businesses Must Further Factor In:

• GST and BAS Compliance: Ensure the software can accurately track GST and generate BAS reports. 
• Single Touch Payroll (STP): If you have employees, the software must be STP-compliant.
• Local Support: Consider software providers that offer local support in Australia.
• Integration with Australian Banks: Check if the software integrates with your Australian bank accounts for seamless bank feeds.

Do Not Ignore Support Infrastructure

Consider the support ecosystem surrounding your accounting package. Ensure your chosen package offers NSW-specific compliance updates, particularly with the state's distinctive payroll tax thresholds. To gain deeper insights:

• Read online reviews and compare different accounting package options.
• Enquire about free trials as most accounting software providers offer free trials. Take advantage of these trials to test the software and see if it meets your needs.

However, it is important to remember that a professional and dedicated small business accounting firm like M.A.S. Partners can ease the entire process for you and deliver the expected results within a stipulated timeframe.

Find The Best Local Help

Consult with the top small business accountants in Sydney. They can provide valuable advice on choosing the right accounting package for your business.

Many accountants in Sydney also specialise in particular software in their packages in 2025. They can further help your business or company’s staff with setup, training and ongoing support.

M.A.S. Partners Offers Best Accounting Packages

Navigating the myriad of accounting software packages can be daunting and to make accounting convenient for you, we at M.A.S. Partners offer personalised advice to help you choose and implement the most suitable accounting solutions.

We specialise in small business accounting in Sydney for over 60 years. Contact us today and gain every valuable accounting insight from our team of experienced small business accountants!