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Redlands Accounting
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Hi Corey

You will need an accountant so find one you are comfortable with and ask them about software. I always recommend that my clients download trials of MYOB and Xero to see which they are more comfortable with. Online is great, but again depends on your internet, but more and more are switching to online and the beauty of it is that it allows your accountant to access your file to offer advice as needed.

You will need to put yourself on the payroll, but keep an eye on things as if you are putting money into the company to start up, you dont want to end up taking too much as a wage and paying tax on it while you have a large loan to the company. It may be best to repay any loan first. Your accountant will be able to keep an eye on that and advise as you go along.

Good luck with the business venture.