- Do you find more and more of your time is taken up with bookkeeping and record keeping?
- Do you struggle to keep up to date with your records?
- Do you struggle to keep records that are of use to you and your advisors?
To make more time for running your business and improving profitability, maximising the efficiency of your bookkeeping and record-keeping systems is crucial. Traditional methods of record keeping and accounting may be hindering your ability to focus on serving your clients.
Advantages of cloud accounting
If you are using a manual or spreadsheet-based system, or not fully using or having difficulties with your current accounting software, a cloud accounting system like Xero is a low-cost, flexible and easy to use alternative. Advantages of cloud accounting are:
- There’s no software to download.
- You can log onto your records from anywhere with internet access.
- There’s no up-front software cost – you pay a low, monthly subscriptions.
- Software updates are taken care of “in the cloud” for you.
- The structure of the records is highly flexible, enabling you to extract the most useful management information on a real time basis.
- Bespoke desktop reports tell you exactly where you are at any point in time. Your accountant or bookkeeper can have “back room” access so that they keep an eye on what you are doing.
The advantages of Xero
We thoroughly research accounting software before we recommend it, so we can be certain it is right for you. That is why we are happy to recommend Xero’s beautiful accounting software.
- It’s simple, straightforward and secure to use.
- It makes accounting and bookkeeping accessible to all by stripping out accounting jargon.
- Real-time cash flow - simply log in to access up to date figures
- Automatic Bank Feeds - which means you don't have to spend time entering all of those banking transactions
- Cloud based - so you can access your system whenever, wherever you need
- There are versions and levels of software suitable for most businesses, with add on modules for more advanced requirements. You pay only for what you need and use.
- When you know how you are performing financially, you can use that information to make the decisions that will help your business to develop and grow.
- Xero can be used without an accountant but the real strength is it is designed to be used in partnership with an accountant.
Xero has a no fee, no obligation demonstration account available on their website at http://www.xero.com/ which you can explore at your leisure. Alternatively, please feel free to contact me or Paul England and we will gladly arrange a demonstration tailored for your needs.
Gareth Nicolle CA ACCA
27 February 2014
This article has been prepared as a general guide. It is not a substitute for professional advice. Neither Collenette Jones Limited nor its directors or employees accept any responsibility for loss or damage incurred as a result of acting or refraining to act upon anything contained in or omitted from this document.