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Cloud bookkeeping basics for small business owners, explained!

//Cloud bookkeeping basics for small business owners, explained!

Cloud bookkeeping basics for small business owners, explained!

By |2020-10-12T01:53:43+00:00October 9th, 2020|Blog|0 Comments

We aren’t just bookkeepers – we’re cloud bookkeepers, leading the charge for the latest trend to sweep the bookkeeping and accounting world and helping small and medium businesses chart a course in the new way of doing things.

Thanks to this new technology, small business bookkeeping has never been:

  • Easier
  • Faster
  • More accurate

It’s for these reasons that cloud bookkeeping has really taken off in recent years!

Still not convinced? Or are you the type of person who likes to know exactly what they’re getting before they put down money for it?

And we don’t blame you – your business is on the line. Make a bad captain’s call, and your could end up suffering for ages while you recover.

Good thing our cloud bookkeepers are here to walk you through things!

cloud bookkeeping in Melbourne

How do online bookkeeping services work?

There’s a reason that cloud bookkeeping is often also referred to as online bookkeeping: essentially, that’s all it is!

Cloud bookkeeping doesn’t mean having to relearn how to do your bookkeeping – the only thing that changes is that cloud bookkeeping takes your small business bookkeeping and moves it entirely online.

And we aren’t just talking about online backups of your data, either – we mean everything moves online.

From your records and bookkeeping history, to the spreadsheets, forms and invoices you fill out, all of it can be accessed from your internet browser.

Once you’re done performing a pay run, sending out an invoice or tallying up this fortnight’s cash flow, all you need to do is click the little button and all of that information will automatically be saved for later.

To access your records, all you need to do is:

  1. Open your internet browser and go to your online bookkeeping service’s website
  2. Login to the online portal
  3. Get to work on your bookkeeping

That’s all there is to it – no more needing to dip into the office over the weekend to double-check some figures!

Why take your bookkeeping online?

Thanks to its online nature, cloud bookkeeping offers businesses like yours a couple of different advantages that are unique to online bookkeeping platforms.

What are we talking about?

Convenience

Unlike traditional bookkeeping which ties your records to one place (be it the main computer that you use for management tasks or your binders of spreadsheets), by virtue of being online, cloud bookkeeping can be accessed from anywhere with an internet connection.

Since cloud bookkeeping is hosted online, there’s no need to install anything on your computer either, freeing up harddrive space for other important business documents.

Not to mention, there’s always an off-site copy you can refer to!

Real time bookkeeping

The instant you add another row in your cloud bookkeeping system, it’ll be recorded right there and then, giving you a real-time look into your finances.

Log into your cloud bookkeeping, and you’ll know that whatever number you see, that’s exactly where you stand.

Integrations

Thanks to its online nature, cloud bookkeeping is inherently connected  and that’s a good thing, as it allow you to sync your bookkeeping with a whole range of different systems and accounts, including:

  • Your ATO Online account
  • Your internet banking records
  • Many modern inventory or POS systems

All of these work out-of-the box and unlike traditional bookkeeping, work both ways.

cloud bookkeeper

Keep up with the latest bookkeeping and accounting developments

If you’ve never heard of software-as-a-service, it’s a business model in software development that instead of paying a one-off upfront fee, users pay a smaller, ongoing fee.

What do you get in return? Ongoing improvements, new functionality and updates that are added on an ongoing basis and automatically applied to your bookkeeping system.

And the key to all of this is online connectivity.

For example, when the ATO announced that single touch payroll would become the new standard, developers were able to quickly add that function for every business using cloud bookkeeping in Melbourne.

Modular

The developers aren’t the only people who continue to support cloud bookkeeping platforms with updates and extras – most cloud bookkeeping systems come with a range of powerful extras and add-ons to support your business.

This allows you to create a unique cloud bookkeeping setup – one that has all the features that your business needs.

Backups

No need to worry about losing your all-important financial data when your computer dies or if your filing cabinet gets infected with mould growth!

Not only is the dashboard hosted online – so are all the reports, spreadsheets and pay runs you’ve ever created.

Not only are they stored off-site, but they’re also secured by world-class encryption and digital security, ensuring that your financial data is kept safe and secure.

How our cloud bookkeepers in Melbourne can help

What are your options? We can help with that

There are countless cloud bookkeeping systems out there – which one is best for you?

Our team are official Xero bookkeepers and MYOB bookkeeping partners, and have years of experience working with QuickBooks.

Not only can we recommend the system that’s best for you, but we can also help set you up and help you through the initial growing pains.

And speaking of setup…

Migrating your data over

So you know how cloud bookkeeping works. You’ve decided to take your bookkeeping into the cloud.

… what now?

While online bookkeeping services are designed to be intuitive and user-friendly, the set-up process can be a bit difficult depending on the state of your current bookkeeping processes.

Our cloud bookkeepers in Melbourne can help organise your business finances and transfer your records over to a cloud bookkeeping system, allowing you pick things up as if nothing has changed.

Training

If you’re going to get the most out of your cloud bookkeeping and grow your business, you need to know how to work it.

Again, that’s something our small business bookkeepers can help out with.

In addition to setting you up, our team can also help you wrap your head around whichever cloud bookkeeping system you opt for, teaching you how to use it to look after your business finances.

Helping businesses like yours succeed

When it comes to online bookkeeping in Melbourne, our team is the one to call

Cloud bookkeeping is the future of small business bookkeeping – hopefully you now have a much better idea of why that’s the case!

Now there’s just one step left: to get started.

Our small business bookkeepers specialise in getting the ball rolling, setting businesses like yours up with cloud bookkeeping systems that make your life easier, and help your business succeed.

All you need to do to get started is get in touch!

Give our team of Melbourne bookkeepers a call on (03) 9589 0128, or click here to get in touch online.