Save Time And Money With Bookkeeping Automation

Cloud accounting software is similar to other software that you might use on your PC or laptop. However, you don’t have to load or maintain anything locally because it’s all hosted remotely. Your data is securely sent to the cloud to be processed and you and other trusted people such as your employees, bookkeeper and accountant can securely view it at any time using any device as long as there’s an internet connection. 

 

Because of its ease, security and reliability cloud accounting software has become very popular. You can also use it to simplify and automate many business processes to save you time and money. 

 

Invoicing – you can improve your cashflow by sending your invoices as soon as work is complete or products are delivered. With cloud-based software, like Xero for example, you can create quotations and use them as the basis for your invoices to minimise duplication. You don’t have to be at your desk; they can be sent from wherever you are and you will have a digital copy of every invoice in the system so you won’t need to keep a fat paper file. Importantly, you can quickly find and review all the invoices you have sent to a specific customer, service or product and run reports to see who pays promptly and who doesn’t. You can even send automatic reminders. 

 

Cash flow – if you keep manual records it can be very difficult to maintain an accurate view of your business cashflow. Cloud accounting software comes with easy-to-use tools for monitoring and assessing your business finances. 

 

Expenses – it’s easy to record your expenses and match them with your bank account, simplifying bank reconciliation and helping you to have a clear view of your business finances. Most cloud-based systems also allow you to integrate with receipt tracking apps that you can use on your smartphone to make it easy for you and your team to stay up to date, even when you’re out and about. 

 

Information in one place – how many files do you normally need to check to confirm that an invoice has been paid or that all the costs have been included in an invoice? Cloud-based software gives you a single view of all your financial information and you can easily cross-reference account codes with customers or expenses for marketing or materials. 

 

Accuracy – manual systems involve an inevitable delay while information is received, entered and checked. When you can easily add purchase invoices and receipts see sales invoices as soon as they have been created you will have a much more up to date picture of your business performance. 

 

Security – I hope you have never been in the position where your IT equipment fails and loses months’ worth of data, but it can happen. With a cloud-based solution your data is securely encrypted and regularly backed up. If something goes wrong your information can be restored in minutes, giving you peace of mind and saving time because you won’t need to hold printed copies or spend time creating manual back up files of your own. 

 

All of these time-saving benefits mean you can spend more time on your business and you’ll have up to date information at your fingertips, so you can make better decisions too. 

 

Please get in touch if you would like to know more.