The advent of cloud computing is rapidly influencing all aspects of small business operations including the traditional paper trails of accountancy practices.
You live in a time of very rapid change and as small business owners, you need to evaluate what these changes mean for your business practices and how to adapt and benefit from them.
Better accounting practice – not pie in the sky thinking
Initially, critics labelled cloud technology as ‘pie in the sky’ thinking but with time it has proven its worth, and can now be safely described as a business essential for any down to earth business owner.
Cloud technology can revolutionise all aspects of your business in New Zealand with the seamless integration of all your bank statements, employee salaries, PAYE, Kiwisaver payments as well as all your business expenses, and sales and purchases details.
The collation of these disparate aspects of your business through the use of a cloud accounting such as Xero allows you to instantly analyse and track trends or issues, and ask questions or make comments for your accountant in real time.
This not only reduces the need for hard copy file storage but makes the whole accounting process more efficient.
And that’s a great thing for getting information to your advisor faster so they can help you to get the most out of every dollar.
Cloud accounting can help you get off the proverbial treadmill and start making a real difference in what your business can do for you.
Cloud accounting is the future right now
Now, even the IRD is getting onboard with cloud accounting and you probably already have a myIR account.
With increasing levels of integration planned in the future between Xero and Inland Revenue, you will be able to focus on tapping into the real value that your adviser can bring to your business.
A process of discovery that will allow you to significantly increase your cashflow and profitability along with the value of your business.
It’s time to embrace that future and explore the rich opportunities for real growth that cloud based accounting offers your business.
And remember, because of our unique situation we can set you with with the New Zealand version of Xero at New Zealand prices! And you can pay us in either New Zealand or Australian currency based on the exchange rate. We don’t charge any foreign exchange-type fees.
If you already run Xero in Australia, setting up a New Zealand version with us wont impact at all on your existing relationship with your Australian advisor. And the two systems will be able to communicate with each other.
Call us on 1300 791 600 for more information.
The information in this article is indicative of NZ tax rules and changes and not intended to be complete for all intents or purposes and does not constitute advice. It is recommended that you obtain professional advice, suited to your particular circumstances, from us before acting on anything you read.