When running a business, access to the most up-to-date financial data is vital so you can make fast, well-informed strategic decisions. Cloud accounting has proven to be the perfect tool to provide this solution.
Traditional desktop accounting software doesn’t show you the whole picture, which can have serious consequences when you need to make decisions about the direction of your business.
Not only that, if your accountant only sees your records at tax time, then it may be too late to remedy problems or suggest alternative strategies.
What is cloud accounting?
Cloud-based software is accessed through the internet and lets you enter and track your financial data in real time, from anywhere.
You control what information people in your organisation can access. And best of all, you can share access with your accountant, so they can collaborate with you to manage your financial operations.
The benefits of cloud based accounting includes:
- Banking – connects directly with your bank accounts, making reconciliations and bookkeeping simple, accurate and up to date
- Invoicing – customise, create, send and receive invoices and also see which suppliers owe you money
- Real-time view of your business – including your bank balances and money coming in and going out
- Reporting – easily generate and view interactive reports
- Extra support from your accountant – who can access and review the same bookkeeping records in real time to:
- assist with day-to-day accounting if you fall behind
- identify areas that could save you money or benefit your business, such as payroll tax rebates and government grants
- help prepare your business activity statement (BAS)
- provide ongoing tax planning
Contact us to learn how cloud software like Xero, MYOB, QuickBooks and Sage one will give you a greater insight into how your business is performing
Real Businesses, Real Stories
Success stories from the client we have assisted.
A Dental practise came to wealthpreneur® for accounting and bookkeeping advice. Their financial data was recorded in an Excel spreadsheet, and they were paying some business expenses from their personal funds and vice versa. This made preparing documents for taxes time consuming, challenging and frustrating.
wealthpreneur® provided effective ideas to separate the business and personal bank accounts; set up systemised business payments and advised them on what salary they should draw
The result was that the client gained peace of mind, confidence and had more free time because they knew their numbers were right with accurate bookkeeping and proactive accounting.
Contact our specialist accountants on +612 8896 6166 to book your Discovery Consultation to discuss your specific needs.