Cloud-based systems as a post-pandemic strategy

If 2020 imparted a single lesson, it was the importance of digital connectivity. This past year has made a compelling case for shifting towards cloud-based systems that offer access regardless of user location. It’s no longer enough to provide employee access to video-calling and IM applications with a rickety online file-storage solution. The new digital future requires easy access to real-time data for multiple distributed users. Your accounting and bookkeeping functions should be no different.

There are so many options out there for accounting software, and the variance in function, form, and cost is vast. Your system should be simple to use, even simpler to scale, and flexible in offered functions – including automation.

At Halkin Business Partners, we’re big proponents of Xero’s cloud-based accounting system. We’ve assisted many clients in making a seamless transition to this flexible, digitally accessible platform. Here are just a few of the reasons why we recommend Xero:

  1. Connect and reconcile your bank accounts easily with automated transaction recognition
  2. Generate quotes and invoices with customisable templates and easy-to-use tracking and reminders
  3. Enjoy a free Hubdocs subscription, including a bill management system that stores your supplier’s invoices and publishes them directly into Xero. This keeps your business compliant with requirements for 7-year storage of all purchase invoices
  4. Streamline all bills and supplier management through Hubdoc’s and Xero’s connection
  5. Keep track of expenses with mobile app features and employee-friendly interfaces
  6. Give your employees access to MyPayroll, a user-friendly system where they can easily apply for leave or have access to their payslips
  7. Connect to the ATO through Single-Touch-Payroll (STP) and keep your corporate reporting in great shape for tax season
  8. Manage project costs in real-time, so you know where you stand on new offerings
  9. Relax, knowing your business is using an authentically cloud-based software that you can access from any browser – no need to install any software on your computer

Last month, we shared insights on e-invoicing; this is another massive benefit to a cloud-based accounting system. As Australia increasingly shifts to this form of transaction and payment, it will serve your business well to be an early-adopter.

 Xero is a sophisticated and flexible option that affords users ease-of-use, a welcoming interface, and streamlined processes. It’s no surprise to see this platform’s user numbers climbing by the hour.

 How can Halkin Business Partners help?

Our specialists will help your business transition from an existing accounting set-up to the cloud with the absolute minimum of disruption. We’ll ensure your system is customised to your specific needs, trouble-shoot and tweak as required, and be on hand to support you through the process.