November 27, 2012
Cloud Accounting, Xero, Accounting, Bookkeeping, Time Saving
1. Easy Access - Work on your business where and when you want - when your accounting software is held on a hard drive on your computer, it can only be accessed when that computer is available. When you move to a cloud solution, it gives you the flexibility to access your data anywhere you have internet access - in the office, at home or on the road. You can have one business partner updating client orders from their laptop while another does the bookwork at a different location on their tablet. And don’t forget, your bookkeeper and accountant can Access, Assess and Assist whenever you need it.
2. Peace of mind knowing your data is always backed up. Imagine losing significant periods of data from your accounting system due to your computer crashing, only to find out there is no back-up. As cloud based accounting systems hold your data on an external server, you always have a secure backup. You no longer worry about Upgrades or New Versions of your software either, the provider takes care of it all for you.
3. Affordable – Paying a monthly subscription to access your cloud accounting software is a far better option for most small businesses – kind to cashflow and the bottom line.
4. Automated Bank Feeds save so much time - Most cloud accounting software offers 'bank feeds' which allow you to download your bank transactions directly into your accounting system. Standing payments can be automatically coded to the appropriate accounts. Receipts and payments can be automatically matched which can save a lot of time when reconciling your bank account.
5. Safe & Secure - One of the major concerns when working online is data security. How safe is your data? When evaluating a cloud accounting solution it is important to investigate the commitment each provider undertakes to ensure your data remains your data. When internet banking was first introduced many people were apprehensive and then embraced it. The same will be said for cloud accounting. Approximately 4%* of businesses in Australia are using cloud accounting software. In the next few years we expect an explosion in the number of businesses moving their accounting data to the cloud, far safer there than on your laptop in the boot of your car. Major players such as Xero are saying “Our software has never been breached and we have never lost any customer data”.
What others have said about Xero:
- “I can review my cashflow in real time”
- “I can track my business performance daily which gives me much greater control over my decisions”
- “Entering and reconciling bank transactions is so easy with live bank feeds”
If you would like to make the switch, contact our cloud consultant Jarrod Fletcher on 5452 1155 to see how we can help speed up your bookkeeping process.