Where business cashflow and accounts were previously managed on excel spreadsheets and dusty ledgers, amazing technology solutions have taken their place. Cloud accounting is a solid feature of many modern day businesses. This accounting technology is being used to help businesses manage their own finances and really supercharge their business. The latest technology can be used in so many incredible ways to support your business, enabling you to streamline a multitude of tasks.
If you want to create an agile framework that gives you the flexibility to react quickly and efficiently to accounting decisions, then you need to free your business from the hardware and office-based systems you are currently using. Moving your accounts to cloud accounting will enable Management Accountants and FDs to access reporting on key financial aspects of the business 24 hours a day from any location. You won’t need to wait until the office is open, instead, you can get financial reports whenever you need them
Do You Need Your Amazon Sales And Costs Automatically Recorded In Your Accounts?
We are able to use A2X software that connects Amazon or Shopify to Xero for your ecommerce businesses. This application will automatically record any sales from Amazon and Shopify in your accounts for you.
This accounting technology will bring in all your Amazon or Shopify sales and fees into your Xero accounting systems automatically. This technology will also post 1 transaction per payment. This will make it simple for you to match in Xero’s bank reconciliation. There is no manual date entry needed for any Amazon or Shopify transactions with A2X either. This will save you lots of time when managing your business accounts.
Do You Need To Pay Suppliers In Multiple Currencies Directly From Your Accounts Package?
If you are looking to pay your suppliers in multiple currencies then you will want to hear about Transferwise which works with Xero. This accounting technology will enable you to send, spend, and receive multiple currencies with the real exchange rate. If you work with suppliers from across the globe, Transferwise and Xero will help you do business without borders.
Using the Transferwise bank payment tool from Xero you will be able to make supplier payments directly from your account with ease. If your business frequently works with and pays suppliers across the globe, contact out ream directly to discuss this in more detail.
Do You Find You Are Losing Track Of Receipts Or Misplacing Your Receipts?
If you make lots of purchases and have receipts in various places across your business then we would recommend Receipt Bank. This accounting technology will put all your purchases and expenses into Xero for you so receipts will never pile up or be lost again.
With Receipt Bank you can use the app to capture receipts and send them directly to Xero for processing. The automatic data extraction from the receipts will save lots of bookkeeping time and stress too. Your employees can build their expense claims via Receipt Bank, ready for your approval.
There are dozens of applications and accounting technology solutions out there that we can support with Xero accounting. During our first meeting with you we will take the time to understand your business and what you do. We can then recommend the best accounting technologies for your business, unique to your needs.
Over the year we have advised many companies on the best accounting technology for them. By using this technology our clients have saved money, increased profit and automated repetitive tasks to save them money. Please see our case studies here with some app stack breakdowns.
If you would like your accounting to work smarter for your business, contact our team now.