Cloud Bookkeeping Solutions
We pride ourselves as an expert team of accountants that use technology to the fullest to provide modern accounting services. One of the latest accounting innovations is cloud based bookkeeping, which has truly changed the game of accounting. No small thanks to accounting software programs, such as our favourite Xero. Keeping up to date with your current financial state has never been easier.
What is cloud based bookkeeping?
Cloud bookkeeping solutions are the way of the future, increasing the effectiveness and efficiency of your backend services by storing your important financial information safely on remote server. This in turn frees up your own hardware and allows you to access your financials whenever and wherever in the world you choose to be. With Growth IQ by your side, implementing and using cloud bookkeeping solutions is a breeze.
Who can make use of cloud technology?
The technology is there – so make the most of it! Any and every small to medium size business can and should make the most of cloud bookkeeping systems and technology, no matter the industry.
If you’re unsure where to start, Growth IQ can help you with our Xero Setup service. As qualified experts in cloud technology, Growth IQ shape technology to fit your business while helping you to better understand your numbers. Investing heavily in the latest technology in recent years, we can assist you no matter what the worlds throws at you. Let’s put the cloud to work for your business!
Benefits of cloud based bookkeeping
Cloud-based accounting software and relevant integrated third party apps can transform a business. In particular, Xero Single Touch Payroll is just one of the benefits that comes with modern ways of reporting and accounting online. These platforms deliver valuable insights, and give back to business owners the thing they value most… time.
Live data and statements are accessible anywhere, anytime, whether you’re working remotely, in the office, or on site, helping you to make informed decisions NOW based on real-time data. All members of the Growth IQ team are able to work remotely, with access to all the technology systems and tools they use daily to assist their clients.
And a few more…
Accessible anywhere, at any time
Access your data, financial information, reports and the information you need to make business decisions on the go from anywhere, anytime and on any device – including mobile! To access your cloud-based accounting dashboard all you need is your device, an internet connection and your login information. That’s it. And don’t be concerned with the security of this software, we’ll get to that next!
The safest way to secure information
Cloud software trumps traditional accounting desktop systems. Just think, a physical hard drive can’t be stolen, nor can files be burnt in the event of a natural disaster. Instead, cloud based accounting software safely stores and encrypts all your accounts, data and records on a cloud server, with layers of security and encryption. Rest assured that the security and privacy of your organisation’s data is always airtight.
Accurate, real-time financial data
Cloud accounting systems provide you with a clear and up-to-date overview of your business’ current financial position. This means that you have all the information on hand to understand your business’ performance and make informed decisions, a fundamental in running a successful business. The platforms dashboards are simple to use and the custom reporting feature means valuable data is quickly accessible.
Collaboration with your team
With Xero online accounting (our choice of cloud accounting software), multi-user access makes it easy to collaborate online with your team. You can grant your colleagues, management team and advisers access to the same numbers. Importantly, you can also restrict user access as you need. This increased collaboration between your business, clients and financial advisers, means that you can also expect advice in real-time.
It saves you time
Cloud bookkeeping is a time effective solution that allows you to work smarter and faster. Cloud software provides you with an online dashboard with bank feeds, simple reporting and automated processes. Day-to-day accounting tasks such as approving payments or invoicing customers can happen at the click of a button. No longer will you have to spend time finding receipts or organising paperwork, cloud accounting can automatically do it for you!
Track cash flow, and get paid faster
Online invoicing is a feature of cloud based software that allows you to immediately approve payments and send invoices to customers, saving you time and streamlining your processes. You can even set up follow up messages to invoices automatically! This in turn, helps businesses to track and improve cash flow, by encouraging timely payments.
Reduce upfront business costs
A major benefit of everything being done in the one cloud based system, is cost savings. Firstly, your work is saved automatically as you go, so you save money on tedious back-up procedures, system administration fees and maintenance. Also, any version upgrades and updates to the software are free and instantly available. This means that your upfront business costs are reduced and you’re always logged in to the most up-to-date version of the software, with all the latest features and information.
Reduce paperwork and streamline processes sustainably
An online accounting system reduces your reliance on paper, which saves time and money, by removing the cost of printing and postage, and speeding up payment processes. Any paper your business receives (bills or receipts) can also be saved and directly uploaded to the cloud software – it’s as easy as taking a photo on your phone and uploading it to your Xero account. Throw out the original, because there’s no need to keep it and save filing and storage costs too!