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Why bother with cloud accounting software?

May 28, 2016

Why bother with cloud accounting software? - Latest Advice from Wagner Mason

Basic accounting software has come a long way from the times when the client saved the year end on a disc, passed it to the accountant who did adjustments etc.....

There are lots of relatively inexpensive products out there such as Kashflow and Xero.

Why would you switch to using one of these:

1. Use in any location if you've got an Internet access and password

2. Saves time as

a. Have automatic bank feeds which mean keeping a reconciled bank up to date is quick and easy

b. Can raise and email sales invoices to customers

c. Set up automatic credit control so you can manage your cashflow

3. Any bookkeeping issues can be corrected/checked by accountant throughout the year rather than at year end

5. You are able to regularly monitor key performance indicators of the company such as invoiced sales/P&L/overdue debtors/available cash etc

The KEY to getting the most out of these systems is to

  • set the system up properly
  • get shown how to use it by your accountant
  • Regularly update it