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News - 14 July 2014

Cloud based Software

we are going to ask one of our resident experts to talk about specific topics that are particularly relevant or pertinent.

we asked Tonmoy Kumar (TK), Manager of our Accounts Department to talk about Cloud Accountancy and Xero software. 

“Accounting software shouldn’t be a chore to use If you want your business to work smarter and faster, cloud accounting software is a wise investment. Working in the cloud will give you a better overview of your finances, and enable us, your accountant, to view and give advice in real time and thus offer an even better service.

Problems with traditional accounting software

  • The data in the system isn’t up-to-date and neither is the software.
  • It only works on one computer and data bounces from place to place. For example, on a USB drive. This is not secure or reliable.
  • Only one person has user access. Key people can't access financial and customer details.
  • It's costly and complicated to keep backups (if done at all).
  • It's expensive, difficult and time-consuming to upgrade the software.
  • Customer support is expensive and slow.

Xero is a cloud based accountancy software solution that is easy to use and allows access from anywhere at anytime; you can even get a Xero app for your smartphone. In other words, shared resources, software and information are provided to multiple computers and other devices on-demand.

Xero is designed to grow with your business and copes with everything from a one man band through to a multi-site, multi-currency business. As Xero is cloud based it allows you, our clients, to get a better understanding of how your business is performing whether you are in the office or on the move.

Real time financial information is no longer a dream. We at ABDS can see the huge potential towards real-time accounting. In other words, we can see what is going on in the clients’ accounts without the need for old fashioned, time consuming, and potentially hazardous passing over of document back-ups.

You, the client, could ring at any time and we could give support and help – we could even give pro-active advice by dipping into your accounts because we have instant access.

Therefore, we are now offering a proactive Xero accounts package to all new and existing clients.

At ABDS, we noticed that business owners want someone who cares about them and just want someone to take away all of the boring compliance stuff

Five ways cloud software benefits your business

  • You have a clear overview of your current financial position, in real-time.
  • Multi-user access makes it easy to collaborate online with your team 
  • and advisors.
  • Worry-free maintenance means you can spend more time doing what you love.
  • Everything is run online, so there’s nothing to install and everything is backed up automatically. Updates are free and instantly available.
  • Upfront business costs are reduced – version upgrades, maintenance, system administration costs and server failures are no longer issues. Instead, they are managed by the cloud service provider.

Cloud-based software companies ensure that the security and privacy of your organisations data is always airtight. If you use online banking, then you’re already primed to use cloud accounting. In addition to this, if you invite users to view your data, you can control the level of access. This is much more secure than the old-fashioned way of emailing your files or sending out a USB stick with your data on it.

The beauty of this software is the flexibility it gives you to run your business from work, home, or on the go. You can be confident that you have an up-to-date picture of how your business is doing, no matter where you are.

Software updates can be developed and delivered faster and more easily in the cloud. This means you don’t need to worry about installing the latest version and you’ll get access to new features instantly. With cloud accounting software, you have the option to run your business remotely, from anywhere in the world. When data is fluid and accessible, the possibilities are endless.

Xero is the perfect cloud accounting solution. Whether your business is new or an existing one, Xero’s easy to use software allows you to stay in control, and allows our team to give you the support you need to make your business a success. ABDS has a dedicated team of accountants who are Xero certified and specialise in helping businesses just like yours.

At ABDS, we give you the Virtual Finance Office (VFO)

  • Cloud based - so you can access your system whenever, wherever you need
  • Invoicing – Create and send invoices, then get paid online. See updates and outstanding balances at the click of a button
  • Automatic Bank Feeds – Import your bank statements directly into the system. which means you don't have to spend time entering all of those banking transactions
  • Bank Reconciliation – Match payments against invoices and automatically code regular transactions
  • Real-time cash flow - simply log in to access up to date figures
  • VAT Returns – Xero will complete your returns which you can file directly through the system
  • Budgets and Reporting – A wide variety of reports to see how your business is performing at any time
  • Multi-currency – Invoice in multiple currencies with live exchange rates
  • Regular Updates - Unlike traditional static accounting software, this software will automatically update so there is no need to buy upgrade software at any point and therefore there are no additional costs.
  • Access from Anywhere - You can access Xero from anywhere via the internet, there is even a smart phone app available for it. This allows you to literarily raise an invoice from anywhere.

Using Xero helps you to keep on top of your financial affairs in an effective interactive way that saves both time and money. We provide assistance with set-up, conversion and training as well as giving as much or as little ongoing support as you need. As Chartered Certified Accountants we also provide excellent tax planning advice and assistance as part of our comprehensive service.

Let our team will take the weight off your shoulders so you can focus on other more important tasks.

Contact us today for a free initial meeting.

Helping Your Business is Our Business

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