How Can Cloud Accounting Systems Change the Way We Work?

When starting off our accounting firm over 3 years ago, one of the first major decisions we had to take was choosing our default accounting software. We knew from the outset that the only option was a cloud based solution that enabled us to assist our clients remotely and avoid unnecessary trips to our client’s premises, allowing us to spend more time adding value to our clients instead of travelling. After numerous online trials, we opted for XERO and 3 years on, it still ranks as one of the best decisions we have taken so far.

The introduction of cloud based accounting systems is changing the way we work, and it is bringing us closer to our clients. Many of our clients got used to receiving management accounts and other financial information on a quarterly basis, but we feel that for many businesses, this is unacceptable. Business owners need to have accurate, real-time data, and our mission is to deliver this.

There are so many benefits of migrating your accounting system to a cloud-based system like XERO.

Here are our TOP 5.

1. Real Time Information

Both business owners, together with their accountants, can have access to the latest and most reliable information, just by logging into the cloud accounting software which is designed with both accountants and business owners in mind. Gone are the days of physically passing on piles of invoices to your accountant and waiting for him to key them into the desktop accounting software. Owners can now forward invoices via email directly to XERO, ready for actioning by their accountant and therefore saving time.

2. Online

Since the data is stored online, all you need is an internet connection in order to access the account. Since security, updates and improvements are all done centrally, you do not have to worry about having the latest version. You always have the latest version.

3. Linkage to Various Apps

XERO has an app library just like Apple and Android. This gives you access to a number of apps such as point of sale systems, financial analysis tools, and debtor chasing systems, which all link seamlessly.

4. Upfront Costs

Cloud accounting works with a monthly subscription fee and this helps with cashflow planning and enables start-ups to start tracking their financials from day one. In the past, a start-up would think twice in investing a large amount of money in a desktop accounting software due to the large initial cash outlay.

5. Collaboration with your Accountant

Cloud accounting software has improved the communication and collaboration between accountants and business owners. In our experience it can also help in cutting costs and save time. This in turn enables us, as your trusted accountants to move away from mundane tasks and offer you more value added solutions to help grow your business.

Our accounting team members have been well trained on the platform and can provide our clients with all the necessary support and assistance,

Contact us today to see how we can help you and your business further!

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