Quickbooks Cloud Accounting - how it can help you grow your business
The relationship between a business owner and their accountant is based on the quality of the information that is shared between them. As an accountant, I rely on getting timely and accurate information from my clients to allow me to give them the very best advice. One way of doing this is for my clients to use an accounting package such as Quickbooks Cloud Accounting as it offers real time detail that I can access at any time.
There are so many reasons why this is a great idea and gives me the ability to offer the very best advice to my clients. If you have thought about switching to Quickbooks, I can tell you lots of reason why I would enthusiastically recommend it.
● Cloud accounting gives you an overview of your invoices - allowing you to chase any that have not been paid in a timely fashion. This gives you a more even cashflow and saves plenty of time.
● You can see information about your business in real time. This includes bank feeds that happen at least daily if not more often. You cashflow is immediately displayed giving peace of mind and allowing changes to be made quickly if necessary.
● QuickBooks offers a reports function that allows easy comparisons daily, weekly and monthly. These reports can be customised to your needs including profit and loss reports and sales reports to show where growth is happening and where issues are emerging. You can easily see the peaks and troughs of your business across the year.
● QuickBooks is shareable with your accountant allowing you to make the most of it. Your accountant will be able to tell you a real time figure for your due tax and the implications of taking money from the business.
● Areas of high expenses will be highlighted and problems can be easily spotted and reported on. Your accountant can advise you on ways to minimise losses and how cashflow is being impacted - allowing for changes as required. It is also easy to see if certain expenses are not being claimed for.
QuickBooks is a powerful tool that you may use on a daily basis, without getting the full benefit of it. It is not a replacement for an accountant, but a way of sharing the information about your business with them and achieving a more detailed picture. Your accountant will be able to get an overview and will be more able to take advantage of the characteristics of this accounting package that makes it one of the best.