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Xero cloud accounting

Cloud accounting is a more cost effective way to manage your accounts

More time for you to spend in your business

Wednesday 23 September, 2015

One of the most amazing but bizarre characteristics of any business owner, is the desire to control every aspect of their business. When would you consider that a business owner should take time to delegate some of their daily tasks, and more specifically what tasks?

Following on from that would this then lead to growth in the business while at the same time allowing the owner to have more control?

Regular book keeping must be one of the tasks that businesses like to keep control of for the maximum amount of time, is this because they like to know their business position or purely a desire to minimise expenditure?

Cloud accounting allows businesses to address both these points.

Although there are several free and cheaper products in the market place we are confident that a premium product such as XERO will enable you to keep control of the costs involved with your book keeping and accountancy.

The software provides many features including live feeds from your bank statements, supplier’s invoices and receipts to be entered through third party software. These features have the benefit of allowing you to match your bank statements against your expenses so you can be in control of your financial position all the time.

Furthermore, you can raise professional-looking invoices and quotes within the product and these can be issued electronically. There are many benefits of issuing electronically. Firstly you can monitor to see if the invoice has been opened and more importantly you can include a link within the electronic invoice to allow payment to be made immediately which will help you with your cash flow.

All these features are operated through a dashboard which allows you to monitor the financials in your business through a WIFI enabled device at any time of the day on any given day of the year. You will know instantly what funds you have in the bank, who owes you money (and if overdue), and what bills you need to settle. These issues alone will allow you to make decisions instantly that can benefit your business, such as affordability of a new staff member or the purchase of equipment.

Furthermore cloud accounting allows you to be involved with as much or as little of the day to day running of your business finances. You can allow your book keeper, accountant and staff full or limited access to the software so that they can keep your reporting responsibilities with HMRC up to date.

The time spent dealing with paperwork in the evenings and weekends will be a thing of the past and the time can be spent with friend and family and even planning the growth of your business.

If you would like to discuss how the implementation of XERO could be used in your business and how this could result in FREE preparation of your annual accounts please call us today on 01442 828006 or email info@taxmatters.tax