About Cloud Accounting

At last, the software industry has delivered an affordable solution that enables small to medium enterprises to have timely, accurate financial information.

That solution is ‘cloud accounting’.

The benefits

The primary benefits of cloud accounting are:
  • Automation
  • Easy Access; and
  • Integration

Automation

The cloud environment, as compared to the old desktop software environment, is much more conducive to the automatic feeding of information from one software provider to another.

In particular, all the cloud accounting packages on the market include automatic bank feeds.

This, combined with designing ‘rules’ for your data entry, drastically reduce the time required for data entry into your accounting system.

Easy Access

The key to a business achieving timely, accurate financial information is being able to access a range of appropriate accounting resources. This generally ranges from resources with basic bookkeeping skills, to accounting and tax skills to financial analysis and decision making skills.

Having your business accounts in the cloud means the full spectrum of resources, with the skill-sets you need, can access and work on your financial information with ease.

Integration

The cloud environment, as compared to the old desktop environment has a vastly improved potential for integration between your various business software (such as your CRM, timesheet or point of sale system) and your accounting package.

The risks

The primary concerns that potential first-time users of cloud solutions have are in respect of security and back-up.

These are legitimate concerns as cloud computing is a fundamentally new method of delivering software solutions.

We recommend that clients evaluate these risks, including in discussions with us, so that they understand them as well as the safeguards that exist.

The main "cloud accounting" providers

The best packages on the market include Xero (with whom we are partners), Saasu (with whom we are partners) and MYOB.

Our services

Talk to us about how we utilize cloud accounting in the delivery of all of our services, including our outsourced accounting service.