Cashflow in hand
Innovation
A NEW, smartphone-based application that allows for on-the-spot invoicing for small businesses and tradespeople is being launched this week.
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The South Australian business Cashflow Manager has had success in other states of Australia, the United Kingdom and Canada with their accounting product.
The mobile phone application launch will be quickly followed by a another innovation that allows users of the Cashflow Manager accounting software to store their details in the Cloud and then share them directly with their accountant or other financial professional.
“The IOS invoicing application has been custom designed and built by our development team to integrate with our desktop accounting software,’’ Cashflow marketing manager Rob Richards said.
“It allows people on the go, especially tradespeople, to raise invoices in the field and deliver them to customers on the spot.
“When they get back to their office whatever work they have done that day will download to their desktop application, saving a lot of time and effort.’’
“We plan to launch the application in the next few days.’’
The company has been operating successfully under founder and current chairman Wayne Burgan, a former Australian Tax Office employee.
Mr Burgan launched Cashflow Manager in 1990 after identifying a need for a simple accounting method for self-employed or small business operators.
The first product, which is still being sold today, was paper based allowing people to simply record their incomings and outgoings with a single entry method.
Lloyd’s TSB in London snapped up the handy booklet and distributed to their expansive, new client base.
In 1996 Cashflow Manager launched a computerised version of the booklet which has also sold well.
“Combining both versions of Cashflow Manager, the company has sold more than 400,000 units in Australia and overseas,’’ Richards said.
“We are looking to expand our presence in the American market with the same product, but sold under the name of Simplazz1-2-3.
“In simple terms the product completely replaces the shoe box full of invoices and receipts that people take to their accountant when they do their tax every year.
“The beauty with digitizing the product means we can easily build in things such as the Good and Services Tax, Pay As You Go, monthly and quarterly tax returns that need to be filed with the Tax Office and other mandatory requirements as they present themselves.
“The over riding aim of the product is to keep everything as simple as possible. When people visit their accountant with this program everything can be processed extremely quickly and simply.
“Which is a cost savings in itself, as accountants charge by the hour.’’
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