No more data entry! Automatically pull your transactions from internet bankin, credit cards or payment processors like Paypal instantly and accurately. This is doubtless the biggest single benefit of cloud accounting.
Create and email invoices directly from your cloud accounting software, and set up recurring automatic billing. The system can even raise an invoice without you logging onto the system.
Calculate and submit your VAT returns effortlessly. When the ‘Making Tax Digital’ changes kick in, businesses will need to submit quarterly reports. Cloud accounting platforms such as Xero will make the changeover hassle-free, and will enable you to fulfil your new obligations with a few clicks of the mouse.
Usually, bookkeeping isn’t the best use of time for someone managing their own business. With cloud accounting, you can grant multiple user access so finally you can share the financial administration with qualified accountants. In our case, we are a Xero gold partner, so we are perfectly positioned to help you get the most out of your cloud accounting.
Software like Xero can easily and instantly export data to spreadsheets – great for creating reports, graphs and pivot tables etc. However, it is even more powerful, when you take into account the built-in reports, ready made for the most useful functions. In most instances, these reports will be more than enough for the average user.
For further details on the above benefits, click here to read the entire blog post at Kevin Appleby.
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