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What is cloud accounting?

The cloud is a platform to make data and software accessible online anytime, anywhere, from any device. Your hard drive is no longer the central hub. This means that whether you’re in Calgary, Edmonton, Vancouver, or somewhere on a beach in the Caribbean, your accounting and reporting is all accessible at your fingertips.

 

The software (XERO) integrates with a whole ecosystem of add-ons. It’s scalable, cost-effective and easy to use. You pay on a month-to-month basis and there’s no need to install and run any programs on your computer.

 

We work within your system so that we stay close to you and support your business when you need it.

 

Other benefits of cloud software:

  • Save time and money – gone are the days of having to call/email your accountant for a report. If you do your own bookkeeping, the process is quick and less tedious than the traditional approach. With the help of AI and automation tools, bookkeeping is no longer a manual chore.

Invoicing is done right out of the system with built-in payment processing options so you get paid right away.

If you have a recurring revenue model, automate invoices at each billing cycle to save you time. Automated invoice reminders sent at certain intervals will improve collections and minimize bad debts.

 

  • Go Paperless – the system is completely paperless. Our approach ties a digital receipt/invoice to each transaction record to create a clear and organized “paper” trail.

 

  • Collaboration – you work with your bookkeeper and accountant on the same system at the same time. Different access permissions are granted to different users which enable managers to view financial reports and staff to submit expense reports.

 

  • Transparency – you see the progress of your bookkeeping as you have access to the same system that your bookkeeper and accountant do.

 

  • Integration – with over 450 apps in the marketplace, share information across different software to eliminate data duplication. These apps make the system highly adaptable to different industries.

 

  • Real-time reporting – as long as your reconciliations and invoicing are up to date, get real-time financial reporting on your business.

 

  • Own your data  – you have full control over your data. If you decide to switch bookkeepers or accountants, it’s as simple as revoking and re-assigning their access.

 

  • Software updates – are done automatically on the back end. Gone are the days of sitting and waiting for your updates to download and install.

 

  • Security – the software utilizes bank-level security and data transmission within the system is encrypted.

 

  • Support – get help at the click of a mouse or call a local accountant who is a certified software partner, like us.

 

This is the future of bookkeeping and accounting services and more firms are appreciating and adopting this approach. We were one of the first in Canada to adopt this approach and have worked out a lot of the kinks to ensure a smooth and seamless experience.