Minister for State Development and Innovation Tony McGrady today launched world-first accounting software developed in Queensland to dramatically reduce the time spent on BAS Statements by small business.

He said the automatic accounting software, developed by Gold Coast company B-Free, was the first to link accounting with Internet banking and electronic banking information for the micro and small business market.

“While these solutions have been available to larger businesses for some time, the cost of these systems has been prohibitive to the micro and small business market,” the Minister said.

“The B-Free software cuts account and BAS preparation time from 1-2 days to between 20 and 40 minutes.”

Minister McGrady said the State Government was right behind innovative Queensland companies like B-Free.

“Innovation leads to the creation of new products and services which creates new export markets for Queensland and more jobs for Queenslanders,” he said.

“This is the cornerstone of the Queensland Government’s commitment to creating a Smart State."

Minister McGrady said the Government had committed $18.5 million to the development of Queensland’s Information and Communications Technology industry over the next four years.

“Smart ICT – Taking IT to the World features 10 new programs which will fast-track growth, build productivity, increase export markets and provide a series of ICT forums to foster partnerships between industry and research organisations.”

Source: Department of State Development and Innovation.