The Importance of Cloud Solutions
If you want to spend more time on your business than in your business, if you want to work smarter and faster, moving to a cloud accounting package could be a wise investment. Working in the cloud gives owners a better overview of their business and removes the barrier to collaboration with us as your financial advisors, creating engaged business owners that are more informed.
Problems with traditional accounting software:
• Data isn’t up to date, neither is the software.
• Only works on one computer – no other device.
• Only one person has access.
• Costly and complicated to keep backups.
• Expensive, difficult and time consuming to upgrade software.
• Customer support is expensive and slow.
Transitioning your business onto the cloud can automate many manual processes and functions, increasing efficiencies and also allowing anywhere, any time, any device access to real-time data, improving the strategic decision making processes within your business.
Advantages of the Cloud
• Automated bank feeds.
• Integrated receivables and payables functions with bank transactions and GST coding.
• Up to the minute dashboard tracking sales, expenses, funds available etc.
• Greater scope for day to day involvement by your Business Advisory Manager.
• Ability to access real time data off any device.
• Ability to electronically file your GST and PAYE to the IRD uploaded directly from input data.
• No one-off large installation fee or costly software upgrades, instead there are monthly subscriptions.
• No need to do backups – data on the cloud is stored securely, offsite and is world-class.
• You can assign different users different levels of access within an organisation, each associated with their individual log on details.
• Easier collaboration within teams since there is multi-user access.
• Automatic software updates that are delivered faster and more frequently.
• Integration with payroll directly into the accounting system.
• Ability to store supporting documents directly to particular transactions.
As a business on the cloud, the services that we can provide you with as your business advisers are substantially different from traditional compliance service offerings. Real time access to your data means that we are able to assist with any day to day strategic decision making based on up to the minute data. We are able to adopt a more pro-active, future focussed approach to helping you and your business to succeed.
We can help you choose the right cloud accounting system appropriate for your specific business requirements, organise the setup and transfer of data from your previous system and assist you with setup and operational queries.
For product specific information in relation to MYOB and Xero cloud solutions, see the following links: