What exactly is cloud-based accounting software?
If you use your bank’s online banking platform or store files on Google Drive, you’re already familiar with the cloud. It is a system that enables the storage of data and software online, rather than in your computer’s hard drive.
Many cloud-based accounting solutions are designed for non-accounting professionals. The benefit of cloud based accounting is that, the data can be entered and accessed from anywhere from various devices. Other great advantage is that most of the software now supports Bank feeds which enables the user to directly import the their bank transaction into the software hence saving enormous time in data entry and provides the accuracy.
What cloud-based accounting software does?Like desktop accounting software, cloud-based software handles your basic bookkeeping and accounting functions. While there are many options on the market, the main players all perform the same basic functions: tracking accounts payable and receivable, invoicing, customer and vendor profiles, bank synchronization and reconciliation, bill management, financial reporting, and cash flow snapshots. Many also offer payroll, inventory, quotes, and other services as an add-on, or as part of the package.
What accounting software options we recommend?The marked it flooded with many cloud based accounting software, according to our research and practical experience we found Xero to the best in the market and would not be wrong to say, is also the market leader. However we understand different businesses has variety of needs, hence a specific software may not be suitable. at Biz Accounting Solutions Ltd understands that specific business needs and can advise which software is best suitable for your needs accordingly Xero Certified.
Although being Xero Certified Partner, we have expertise in various cloud based accounting solutions and can assist on mostly all types of software, however we have in depth knowledge on following:
- Intuit QuickBooks Online
- Sage One
- Receipt Bank
How can we help?
- Advise which software is best suitable for your requirements and business needs
- Setup your business bookkeeping and accounting on cloud based software of your choice
- Maintain your books on your behalf and remove all the hassle from your shoulders