Xero in on the benefits your business can enjoy with cloud accounting software - Part 1

Are you still preparing your bookkeeping records by handwritten cash book or excel spreadsheet?


Think about the time that you are wasting when you could enjoying a better lifestyle or being more productive for your business.

Let us briefly explain what is meant by cloud accounting. Cloud accounting, serves the same function as accounting software that you would normally install on your computer, except it runs on a remote server that you access using your web browser, over the Internet. Data is securely stored and processed on servers—or “in the cloud”. This means you are able to access your business financials from anywhere, and using any device, as long as you are connected to the Internet.

As you can see, the big benefit of cloud computing is that it lets you get at your data anytime, anywhere. The cloud breaks the chain between your office computer and your business information.

The cloud takes the stress out of computing. It lets you use computers, laptops, tablets, smartphones and other devices to access all your business information – seamlessly, securely and in real time.

Here are some interesting cloud accounting software statistics (courtesy of Arbitrue) that i would like to share with you.

Statistic 1 - 45% of consumers would like to receive digital copies of their receipts rather than paper copy.

Statistic 2 - 65% of small businesses in the USA use cloud accounting and invoicing solutions.

Statistic 3 - According to Rob Nixon, the CEO of PANALITIX, over 90% of small and medium businesses will move their accounting and bookkeeping activities to the cloud by 2020.

Statistic 4 - For 40% of companies in the USA, it takes over 80 hours per year to deal with taxes, according to the newest SCORE’s report.

Statistic 5 - 40% of business owners say taxes and bookkeeping are the worst part of running a business according to the same score report.

Statistic 6 - 80% of companies rely on entering expense data manually - Forrester Consulting.

There you have it - 6 interesting statistics about cloud accounting software.

I use Xero as my preferred cloud accounting software and here are seven reasons why i love Xero and i think that you would love Xero too for these same reasons.

7 reasons you’ll love Xero
Check out what you can do with Xero and the cloud

  1. View your cashflow in real-time
  2. Get paid faster with online invoicing and automatic reminders
  3. Quickly set up employee payments with Xero Payroll
  4. Get automatic daily feeds of your bank transactions
  5. Reconcile all your bank transactions in seconds
  6. Manage your paper trail with online file storage
  7. Reach out for free support, anytime you need it


So, 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 improve collaboration with your team. It does not have to be Xero accounting software. There are many good cloud based accounting software packages in the market place such as QuickBooks and MYOB that will suit your requirements and budget. In the meantime, take a moment to watch this brief video.


Over the coming weeks, I shall be preparing videos to show you the simplicity of using Xero and how you can implement Xero into your business. In the meantime, to visit our website - http://wealthvisionacadem.wixsite.com/xero

Cheers,
Peter

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