Are you banking online? The chances are you probably do use online banking, and every time you do you are unknowingly using ‘the cloud’.
The cloud is basically the platform that makes data and software accessible anywhere 24/7, on any device. You could also think of it as ‘online accounting’.
So instead of your information being stored on your hard drive, the data is stored remotely on the server of whichever cloud accounting company you’re using such as Xero.
This way of accounting has changed the way we do business and made accessing your books anytime, anywhere much easier. It also allows others in your team, your accountant, bookkeeper etc. to access your information, view your accounts and provide you advice in real time. This is also a more accurate method than outdated, traditional forms of accounting.
So cloud accounting isn’t just a smarter way of doing things, it’s faster. With cloud accounting such as Xero, you gain a better overview of your finances and this will help your team better collaborate.
In the past accounting software could be problematic because it didn’t update in real time and the software itself also didn’t upgrade automatically. This is no longer the case with Xero. Upgrades to the software are automatic and at no cost to you, and your banking data is updated daily.
Another annoying problem was that accounting data usually worked with one computer. This meant to transfer information from one computer to another usually required a USB Driver or similar, putting the reliability and security of your financial information at risk.
Xero allows you unlimited users at no additional cost. So employees, accountants, bookkeepers etc. can view your information on their own computers, wherever they are – there’s no need to be geographically bound, for example to one office.
By combining accounting software with the cloud, Xero has found the perfect solution to your accounting needs, whether your business is big or small.
Cloud based software such as Xero can be used from any device as long as there is an internet connection. This is especially useful for small business owners who can now easily stay connected to their information and their accountants, even if they are offsite.
Just imagine the amount of time and space saved on bookkeeping and paperwork. Bookkeeping tasks are now automated which means running your business is easier and more efficient.
With cloud accounting generating reports is easier because all the information you need is at your fingertips and it’s accurate. When human beings have to input information, there is a huge margin for error, not so when data is updated automatically.
Another huge plus is that cloud accounting software is a bargain. No matter the size of the company you can use Xero and multiple users can have access at no additional cost.
If you’re looking for Xero Specialist Accountants in Brisbane Northern Business Consultants should be your first stop. They have successfully switched their clients over to Xero in 2009 and can help make the move a hassle-free one.