As a business owner you need financial data and information about your performance up to date and accurate, with cloud technology Xero, Receipt Bank and AGL Associates this is a reality.
The direction and control of any business will ultimately come down to affordability and cashflow even if you are looking for investors you will be looking to provide the most accurate data to make decisions quicker and plan more effectively for all kinds of things such as retirement, moving or opening a new location.
The power of the cloud and especially Xero allows us a direct to link to the business bank statements, so lost statements or waiting for the bank to post them is a thing of the past. The live feed allows bookkeeping to happen on a daily basis, with the help of many applications that can be linked to Xero such as Receipt Bank it gives you the ability to take pictures of receipts on the go or forward invoices with a few clicks of a button.
The bookkeeping process becomes fast and efficient, 24/7 access and using multiple devices allows you the user and us the accountants to see what you are seeing in real time, you can be on the beach watching your bank balance go up as you send statements automatically to chase you sales invoices. These processes are automatic and will give you the added time to review more opportunities in the market place or more time to relax, you decide.
When the data is live this allows for better reporting for monthly, quarterly or half yearly management accounts, cashflow forecasting and tax planning.