Cloud-Based Book-Keeping
14 February 2012
The world of book-keeping just got easier!
It is amazing to think that just under twelve years ago GST was forced upon us and we all realised that completing quarterly BAS's (Business Activity Statements) was a time consuming job.
We purchased accounting software and then had to work out how to input information into the program and produce a BAS with limited or no training.
There were issues providing the information to our accountants including bank accounts not reconciling, incorrect GST claims being made and problems arising from different versions of the same software being available, resulting in confusion for all involved.
Fortunately, a number of years on, we have become accustomed to the BAS system and have some insight into dealing with shortcomings in the software we were encouraged to use all those years ago.
The latest buzz word in technology circles is 'Cloud Computing'. In simplistic terms, for a nominal monthly fee, software is available via the internet by logging on to a supplier's website. 'Cloud' based solutions now exist for the accounting industry and we have been trialing a number of packages.
There are numerous benefits to these products worthy of serious consideration by the business owner.
- They save you processing time via automatic bank feeds.
- There is no installation, upgrades or maintenance.
- It is available anywhere you have access to the internet, including hand held devices, smartphones and tablets.
- Both you and your accountant can view your data simultaneously and can guide you through any problems you may be facing.
- Finally, and most importantly, if information is updated regularly dashboards provide a great visual tool for running your business.
In a nutshell, the 'Cloud' can offer efficient, more versatile and accurate book-keeping solutions for managing your business affairs.
Imagine the time saved by not having to input data and reconcile accounts, as automatically uploaded bank account transactions can recognize and reconcile to a supplier in your creditors ledger? Brilliant!
Personally, I think the technology advancement in this area has been so enormous that smart people will move quickly to implement it.
We have team members here at Shearer & Elliss who sadly, would admit to using this software for fun!
If you would like to arrange a time to discuss this software or for us to demonstrate how excellent this 'fun' software could be for your business, please call me on 8373 0202 or email awright@se-ca.com
Click here for further contact details for Adam Wright.
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