To an accountant, tax administration is as nappy-changing is to a new parent: a key part of an often satisfying role – but let’s face it, not the part everyone enjoys.
Taxes must be submitted in the right order and in good time, or businesses could face legal and eventually commercial consequences. At the end of the financial year, it’s particularly important to stay on top of processes such as auditing, month-end procedures, reconciliation and payroll, especially if they’re still done manually.
With that in mind, it’s no surprise that many accountants are turning to cloud technology to make tax administration easier. A new report from Xero reveals that 56% of South African accountants are using tax administration software to manage returns due on eFiling.
And it’s not hard to see why.
Working digitally – and working smarter