Make the best decision you can by switching your business to an online accounting platform like Xero. No matter if your business is a start up, growing, or a maturing business, online accounting will set you up for the future.
to cloud accounting?
To help you decide here are some of the most important reasons to move to a cloud / online accounting platform:
Accounting software like Xero is hosted on remote servers and no longer on-premise or self-installed on a local drive. Data now sits in the cloud where it is processed and real-time information is available anywhere on any device.
Cloud accounting refers to the practice of using cloud-based software and services to perform accounting functions and store financial data. It involves using internet-connected applications and platforms to manage various accounting tasks, such as bookkeeping, invoicing, financial reporting, and tax preparation.
Traditionally, accounting software was installed on individual computers or local servers, requiring manual updates and backups. Cloud accounting, on the other hand, utilizes remote servers hosted on the internet to store and process financial data. Users access the accounting software through web browsers or mobile apps, allowing them to work from any location with an internet connection.
Cloud accounting is not secure and too expensive.
Xero indicates that the cloud is one of the most secure ways to store information. For example, using cloud software, if your laptop is stolen, no one can access your data unless they have a login to the online account. With cloud software, your data lives online on secure servers – as opposed to on your hard drive.
Benefits of Cloud Accounting:
Users can access their financial data anytime, anywhere, using different devices. This flexibility is particularly beneficial for businesses with multiple locations or remote teams.
Cloud accounting enables real-time collaboration between accountants, business owners, and other stakeholders. Multiple users can work on the same data simultaneously, facilitating efficient communication and teamwork.
Cloud accounting software is regularly updated by the service provider, ensuring users have access to the latest features, tax regulations, and security enhancements without the need for manual installations or updates.
Cloud accounting systems typically employ robust security measures, such as encryption, firewalls, and data backups, to protect financial information. Service providers often have dedicated teams focused on ensuring the security and privacy of their users’ data.
Cloud accounting eliminates the need for costly on-premises infrastructure, such as servers and IT maintenance. Users typically pay a subscription fee based on usage, which can be more cost-effective for small and medium-sized businesses.
Cloud accounting software can integrate with other business tools, such as customer relationship management (CRM) systems, payroll software, or e-commerce platforms. This integration streamlines data flow, reduces manual data entry, and improves overall operational efficiency.
Popular cloud accounting software include QuickBooks Online, Xero, Zoho Books, and FreshBooks, among others. These platforms offer a range of features tailored to different business sizes and industries, making it easier for organizations to manage their financial activities effectively.
JHCO has the experience and technical knowledge to:
What our monthly cloud accounting packages include
COMPARE PACKAGE FEATURES
Monthly Accounting on Xero
Bi-Monthly VAT Submission
Provisional Tax Submission
Annual Company Tax Submission
Annual Compilation of IFRS for SME Financial Statements
Basic CIPC Changes and Submissions
Keeping of Electronic Company Register
Consultations Per Month
100 transactions p/m
1 x Hour Online consultation per month
3 Permanent Fixed Salary Staff
500 transactions p/m
4 x Hour Online consultations per month
10 Permanent Fixed Salary Staff
Daily allocation and accounting on Xero linked with banking feeds
8 x Hour Online consultations per month
20 Permanent Fixed Salary Staff