Cloud based accounting software is becoming increasingly popular and many of our clients have already discovered the advantages of this type of bookkeeping software. Some of the advantages include;

• Automatic data download of your bank transactions
• Automated allocation of bank transactions to their relevant ledger account, cutting out much of the manual data entry
• Automated bank reconciliations
• No software installation, backups or updates
• Access to your ledger from anywhere on any device
• No more multiple versions of data files
• Real time view of your cash flow allowing for better decision making

Our firm has aligned itself with Xero Accounting Software as we believe they are the leaders when it comes to cloud based software. We use Xero for our practice management which means our clients using Xero enjoy a more streamlined process when it comes to preparation of end of year financial statements. We have direct access to our client’s Xero ledger which allows our clients to receive advice based on real time data. Year end adjustments are completed on the shared ledger which means the client’s ledger is automatically updated to reflect the final year end balances. We can view the ledger at the same time as the client, allowing us to assist with any questions about data entry or discuss the figures contained in the various reports.

We have fixed fee packages available for our clients who use Xero, giving more certainty when it comes to accounting fees.

For more information, contact our office or visit www.xero.com.au

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