Accounting like social media update
Technology has revolutionized our day-to-day lives from online banking, online shopping, and now online meetings. The Covid Pandemic has even normalize online work for lots of people. It is time that businesses should also look to bring cloud accounting just the way it has adopted work from home, meeting clients via zoom meeting. The online accounting software not only offers all the functionality and reliability of your tried and trusted desktop accounting system but also with abundance of additional functionalities for small–midscale businesses that were only available to large scale businesses.
What you need to move to cloud Accounting?
Businesses need to find reliable accounting partner that will help their business move and guide to the Cloud accounting. We are Pro-advisor with QBO and Partner Xero expert and help our clients in choosing the right Cloud accounting software that will be best suited to meet the needs of their business. We stand ready to provide any help from assisting to full scale bookkeeping for our client business. We are here to support your business move to the online accounting. Here are the five reasons for moving to online accounting:
1. Timely access of your business reports
The online Accounting provides timely access of financial reports to the management from anywhere. The business data and records are all safely encrypted and stored on a cloud server, and there is no software application. The management and other stakeholders may access these reports through internet browsers. This, basically, free businesses and their managers of constantly tied to their desktop-based software. The online accounting always provide the newer version of software with new functionalities at all times. So, the business can rely on the most recent version of their accounting software, available at your fingertips through the internet.
2. A cost and time-effective solution
The online software reduces your IT costs and saves you time by keeping you constantly connected to the business. Online accounting is carried out entirely from the cloud. There is no costly IT infrastructure for you to maintain, and you can access the software whether you are in the office, in shopping mall, on Golf course or out at a customer meeting. Rather than waiting until you are back at the office, you can immediately approve payments, or send out invoices to customers, saving you time and making your financial processes far more effective.
3. Security and no time-consuming back-ups
When you are cloud-based, your accounts and records are all encrypted, saved and backed up. On a cloud platform, back-ups and software updates become a thing of the past. You’re always logged in to the most up-to-date version of the software, with all the latest functions, tax rates and necessary returns. The online accounting software also provide the security of your business data. As the data is saved on the cloud, there is no risk of losing it by theft, computer breakdown or any natural disaster. You’ll always be able to get your data by logging in through your platform from any device.
4. Share and collaborate with ease
Now this is extremely powerful functionality of the cloud based accounting. The system allow you and team with collaborate on your business data instantly. Imagine that you need your accountant’s help, you have to send the data that need to be emailed back and forth, or saved to USB memory stick and couriered directly to their office. The online software will provide instant access of your data to your accountant. Our clients provide us with full access their online business data. This allow us to be accessible to our clients data ready to assist at a moment notice. The reports could be generated, expense could be categorized, payroll entered, HST created and even answer to any CRA query instantly – all without any hassle.
5. Reduces paperwork and audit-proofing books
The cloud accounting could assist in achieving the dream of having a paperless office, and even audit-proofing your data. The online accounting system may reduce your reliance on paperwork. Invoices can be emailed out directly to clients, removing the costs of printing and postage resulting in instant payment process. The AR could easily be managed by generate reminders for clients on regular basis. Incoming bills and receipts can be scanned and saved directly with the associated transactions in your accounting software. The transaction could be verified instantly by opening the link to the picture of the bill at any time. There will be no need to search for any bills or expenses through files and folders. And because your documents are all digitised and stored in the cloud, there is no need to keep the paper originals – saving on filing space and storage costs.
We are a team of experienced bookkeepers and accountants with multi-year experience. We are experienced in Sage 50, QuickBooks, Xero and Excel to keep your books and final reports for the year-end. Our collaboration with CPA accounting firms provides our clients seamless access to accounting advice for your business accounting needs.
Our services include
Journal Entries, Bank Reconciliations, Payroll, Payroll Source Remittance, HST Returns, Financial Statements
Cloud computing allows businesses to store all relevant expense invoices and receipts within your accounting transactions. These receipts and invoices are available to be shared with any agency with a simple click of a button greatly reducing Audit costs.