What is cloud based accounting?
Cloud accounting keeps your business books online – with the inclusion of records from your income and expenses, and assets and liabilities. Cloud accounting means you can access your accounts from any web browser, or from and app on your phones. You can connect the software to your business bank account so that banking transactions flow automatically from the bank to your books.
Most cloud accounting systems also come with tools for quoting, invoicing, managing bills and so much more. The software can integrate with a whole ecosystem of third-party business apps. It’s scale-able, cost effective and easy to use.
What are the benefits of cloud accounting?
- Helps you manage your business and increase efficiency
- Access your business finances at any time, from any internet-connected device, which means you can run your business from anywhere you are
- Understand your real time cash position and provides you with daily updates from your bank accounts
- Collaborate with an accountant, bookkeeper, and your team
- Easily able to create and send invoices, with online payments and invoice reminders to ensure you get paid faster
- Protects your data with multiple layers of security, including industry-standard data encryption and secure data centres
- All data backed up automatically
What accounting software do we use and why?
We use Xero Cloud Based Accounting. Xero is one of the biggest reasons why we became Xebra Accounting. Guy, Managing Director of Xebra has been using Xero for over 10 years now and in the early days, saw a mass of opportunity and new ways with how we can truly impact businesses through cloud accounting. It was the revolutionary way for us to be more involved with our client businesses and able to give them more sound financial advice as time went on.
It was also part of the reason we called ourselves Xebra Accounting – The story behind it? We believe that every business is unique, just like the stripes on a zebra, and with Xero making such a huge impression, we replaced the ‘Z’ with an ‘X’.
Xero is a fantastic software and we encourage all our clients to use it. They have typically reported a 50% saving in time since becoming a client of ours and using Xero – it’s a no brainer.
Spend more time doing the things you love and let cloud accounting ease the problems you are having when it comes to your finances.
References:
https://www.xero.com/uk/resources/small-business-guides/cloud-accounting/cloud-accounting-business/