The right cloud-based accounting system will save your business time and money.
This is a fact and we have seen the benefits through our entire client base. People are saving hours of time on their bookkeeping and their quality of life has improved.
Accounting systems such as Xero stream your bank transactions through to your ledger meaning that the data entry function is largely no longer required. Data entry dollar amount errors are completely eliminated as the bank transaction is automatically entered.
The same software can be “trained” to recognise recurring payments and receipts meaning, less human intervention is required. It can match your bank receipts to your invoices and payments made to your supplier invoices.
Every business has a recurring pattern of expenditure over the course of a year and, once your accounting rules are set, the software does most of the work for you.
Many small businesses have done away with their traditional bookkeepers or have been able to cut down their hours.
The financial results of your business are available quicker which helps you make proactive management decisions. You are able to focus on the plan and direction of your business rather than the grind of getting the financial results out of your current system. You are able to implement business and product changes and immediately see the impact on your bottom line.
Having your financial accounts up to date at any time also helps when applying for a loan.
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As accountants and advisors, we are able to spend more time on value adding to a client’s business rather than just “crunching the numbers”. This is what we love doing.
If you are not using an automated, cloud-based accounting system such as Xero, you should be.
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