We've all heard of 'the cloud' and Xero but many people aren't taking advantage of this game changing software. What many people don't realise is that they are already using the cloud everyday with online services like email and internet banking.
There are many features of cloud accounting that make it a perfect tool for everyone from small business entrepreneurs to rental property owners.
Let's run through a few of these benefits.
One of the key benefits is that you have access to your data and the tools to make sense of it from any internet connected device at any time and from anywhere. No more having to be chained to the desk to get your accounts done or check up on your financial performance.
Your money is centralised with feeds direct from your bank accounts into a single ledger allowing quick access, saving you time and increasing the accuracy of your financial and tax information. Removing the need for manual data entry greatly reduces the chance of errors, ensuring that the data you have access to is of the highest quality and capable of provide a sound base for all those big business decisions.
Cloud accounting software like Xero and MYOB Essentials is designed with small business owners in mind. You have better things to be doing in your business than pouring through boxes of receipts or struggling through an archaic, out dated desktop accounting system. Cloud accounting solutions are easy to use, secure and are constantly backed up. This minimises the risk of losing any data to error or corruption and removes the risk of having your data lost in a theft or fire at your premises.
Not only is cloud based accounting soft more secure, it is also always up-to-date. The software is automatically updated without the need for you to do anything. No more receiving old-school update discs in the post or having to schedule a patch download for your desktop. Every time you log in to your cloud accounting software, you will be using the most up-to-date version.
All of this great convenience and security is also very affordable. Cloud based accounting solutions are most often offered on monthly subscriptions with options staring from just a few dollars a month. This makes it easy to plan your cash flow with affordable monthly payments as opposed to large lump sums as with older desktop based software.
Take advantage of cloud accounting to streamline your money, give you greater insight into your business and give yourself more time to get back to doing the things you love.
About the Author:
Chris Mercer is Managing Director of Mercer Business Partners Limited and is a Xero Certified Advisor. Chris is the driver of MBPs innovative business practices such as our commitment to a paperless office and our ability to always be contactable by our clients. Cloud software such as Xero is essential to this mission and allows MBP to advance its relationship with its clients well beyond just crunching numbers. Call Chris on (07)3786655 or email him direct at email@example.com for a free cloud consultation and a no-obligation quote.