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1. #SHOULD I PASSWORD PROTECT MY IFINANCE DATABASE UPDATE#
2. #SHOULD I PASSWORD PROTECT MY IFINANCE DATABASE MANUAL#
3. #SHOULD I PASSWORD PROTECT MY IFINANCE DATABASE FOR WINDOWS 10#
4. #SHOULD I PASSWORD PROTECT MY IFINANCE DATABASE SOFTWARE#
5. #SHOULD I PASSWORD PROTECT MY IFINANCE DATABASE SERIES#

Keenan recommends having a special one just for backing up your documents. For small amounts of data, these are usually free. If carrying a physical USB stick or SD card doesn't appeal to you, make yourself a cloud storage account with Google, Apple, Dropbox, Box, etc. The most important thing is to choose a strong password that you will be able to remember. Or you can look at a third-party encryption program such as VeraCrypt or M3 Bitlocker.

#SHOULD I PASSWORD PROTECT MY IFINANCE DATABASE FOR WINDOWS 10#

For Windows 10 Pro, there's a built-in solution called Bitlocker, and Mac users can use FileVault 2. In this case, Keenan wants you to make sure it's encrypted, in case you lose it. If you travel a lot, you could also make another copy and take it with you.

Periodically, you should make a copy of that storage and put it somewhere offsite, like a safety deposit box. Keenan suggests backing up digital docs on a thumb drive or a secured digital card that you can easily remove from your device. Emailing copies of your documents puts you at risk if your laptop or phone are stolen or hacked. Use it religiously when you get a new important document (passport, life insurance policy, etc.) "What would you do if the hard drive on your computer suddenly cratered?" he asks. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Think about the features your business needs before buying a POS system.Best Debt Consolidation Loans for Bad Credit

#SHOULD I PASSWORD PROTECT MY IFINANCE DATABASE UPDATE#

Point-of-sale (POS) systemsĪs your business grows, you may find you need to update or upgrade to a POS system.

#SHOULD I PASSWORD PROTECT MY IFINANCE DATABASE MANUAL#

Visit the ATO website for more information on manual and electronic record keeping systems.

#SHOULD I PASSWORD PROTECT MY IFINANCE DATABASE SERIES#

Spreadsheet accountingĪre you confident using a computer, but don't have the funds for an accounting package? Consider setting up a series of spreadsheets for your accounts.

#SHOULD I PASSWORD PROTECT MY IFINANCE DATABASE SOFTWARE#

provides automatic off-site storage for your financial recordsįind out about the cloud computing software service on the ATO website.lets you update your books from any location.Make sure software complies with Standard Business Reporting (SBR). Off-the-shelf or tailored software accounting packages help you to:Ĭheck what software your accountant or business advisor recommends. Your electronic options include accounting software, web-based systems and spreadsheets. easy to back up and keep safe in case of fire or theft.less physical storage space than a manual system.Some advantages of digital record keeping include: So, now may be a good time to go electronic. The ATO is moving towards all electronic records. duplicate copies of the same records are usually avoided.a simpler system to use if you’re not familiar with accounting software.less likely that data will become corrupted.The advantages of a manual system can include: You can often get these from your local newsagent, office supply or book store. Manual bookkeeping systems use a series of books or ledger accounts. You have access to (including all passwords)Īllows you to control the information that is processed, entered and sent The records must also be on a computer or device that: Back up your records and, if possible, have a secure off-site storage location, which may include cloud storage. Whichever you choose, make sure you store your records in a secure place. Once you have saved an image of your original paper records, you don’t have to keep the paper versions. The ATO accepts images of business paper records saved on an electronic storage medium, provided the electronic copies are a true and clear reproduction of the original paper records and meet their record-keeping requirements. You can also store and keep paper records electronically. If you keep your records electronically, there’s no need to also keep paper copies unless a particular law or regulation requires a paper copy. Keeping your records electronically should make some tasks easier and save you time once you have your system set up. The ATO recommends that businesses use electronic record keeping if possible, as they are progressively moving towards electronic reporting for tax and super obligations. You can keep records electronically or in paper form.