The real power of a cloud accounting system is having important management information to hand. Information such as, who owes me money, what are my sales this month and am I making a profit? As part of our cloud accounting service we will help you set up the key reports you need so that the most important information is always a click away. Having your finger on the pulse of your business is critical for making the right business decisions. You need to know the key numbers. Each quarter we will supply you with:
- A quarterly view of your reconciled account summary that will include a year to date total for each category of income and expense, and most importantly, your profit for the year to date.
- A quarterly sales ledger report showing you exactly how much money your customers owe you and how long those debts have been outstanding. This report will help you to keep on top of your debtors and put more cash into your bank account.
- A quarterly purchase ledger report showing you how much money you owe to your suppliers.
Cloud accounting software companies charge a monthly subscription for using their system (for example, an annual subscription to the premium version of Xero is $600. But as part of our cloud accounting packages we pay this on your behalf, which means you get all the benefits of a real time accounting system listed above.
If you have employees, you will need to have a PAYG scheme set up and operate payroll. Many of our clients choose to let us run the monthly payroll. Let us know if you’d like us to take away that hassle for you.
Monthly or quarterly cash flow forecasting and budgeting
Forecasting and budgeting helps you plan and will give you an early-warning signal if you are likely to face cash shortages. Our forecasting service looks at each of your forecast profits, cash and net assets giving you a complete picture of what your business might look like in the future. In fact, this is such a powerful business planning tool banks very often insist on it as part of raising finance.
Bookkeeping is not easy. It has to be very precise. Combine that with having to learn a new software system and it can get very frustrating. That’s why we provide training as part of our Full and Premium set up services. We want to help you get your bookkeeping done fast and accurately. The training consists of a full day of training which you can access either all at once or broken down into a series of shorter sessions (for example 1 hour per week for 7 weeks).
Ready to get started with Cloud Reporting?
Get in touch and we can get you set up.