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Cloud Bookkeeping

Bunbury Cloud Bookkeeping and Accounting Experts 

Majority of our bookkeeping and accounting clients are merrily working in the Cloud. 

A few are still running bookkeeping software systems from their personal computers on their desktop at their home office.  Cloud Accounting is here to stay and is part of the norm in 2021.  So, if you were a business owner that embraced the transition to cloud accounting when it first became a trend years ago, you would now find that your newly adopted cloud accounting is now mainstream.

Paula Davenport is our resident BAS Agent, training and nurturing other bookkeepers over time to work with happy business owners here in Bunbury, all throughout Western Australia and Interstate.  

If you are still undecided and are investigating a cloud bookkeeping and accounting solution, here are some things to think about. 

Whether you want XERO or MYOB for your Cloud Bookkeeping Software for your business, we have got your back.  Just call today 0427 66 99 69. 

Cloud Bookkeeping and Accounting Software, what is it? 

- The accounting software is hosted on remote servers offsite from where you are located. 

- Your data is sent into “the cloud”.   It is stored there and looked after on behalf of your business. 

Online Bookkeeping and Accounting Platforms XERO and MYOB, what are the benefits? 

- Anywhere, anytime and from any device you can access your data.   It does not matter where you are in the world, you can access all of your business information as long as you have an internet connection. 

- This one data file, located on the cloud can be shared by your bookkeeper, your accountant, or anyone you give access to and you can all work on the file at the same time using current data.  Gone are the days when you needed to drop of files and mountains of paperwork or email everything. 

- At your office, all you need is an internet connection which eliminates hardware needs and many desktop computers. 

- Your employees from remote locations can access the same data and the same version of software. 

- The provider will look after the bookkeeping software, check for viruses, and complete the backups. 

- Actual real time information from daily feeds from your bank are used. 

- Cashflow which is king, is up to the minute all year round making decisions crystal clear. 

Some points to carefully consider are: 

- Ensure the supplier of the cloud bookkeeping software is recommended by the ATO and can provide the necessary tax requirements, plus good service. 

- Support service is also key should any problems arise.  Find out the support service they provide.  Is it good enough. 

- Ask your provider where your data will be stored.  Australian privacy laws are very strict so be sure to find out if in Australia. 

- Make sure your internet speed is going to work quickly and easily with your data. 

- Your data need to be safe and secure.   Ask your supplier how accessible your data is to anyone. 

- Check if you need any training to use the bookkeepers software. 

- Ask if it is easy to put your existing data into the online software. 

- Seek out others using the same product and ask questions of their experience. 

- Check if the accounting software can marry up with existing external software you may already have. 

XERO versus MYOB 

Here at Bookkeepers Bunbury we use XERO and MYOB and have done so for 14+ years as they have shown time and time again that they are two leaders in the market.  It is worth checking some of the similarities and differences between XERO and MYOB before you make a decision on which bookkeeping and accounting cloud software solution you need for your business and which one you should choose.  

XERO is solely cloud based bookkeeping software, accessed from any tablet, computer, electronic device which has an internet connection, you can even use their App in the same way on iPhones, iPads and Android devices.   Apps are great when you are on the go and your clients find you using their mobile device. 

This is highlighted in the Deloitte Digital Consumer Trends 2020 Study during the COVID-19 Pandemic.  This study showed that as Australia goes into a recession which hasn’t happened for about 30 years, people are spending less.  This is not true however where devices are concerned which shows how important they are to our lives.   The study found that since people were spending more time at home due to the pandemic 26% bought a new device.  It is thought that laptop and smartphone purchases during the Pandemic were more than likely just upgrades but smart TV’s appear to be new additions.  The driving numbers during COVID-19 in Australia were young people aged 18-24 years (47%), tech enthusiasts (51%) and home workers (34%). 

Being able to work from home due to offices being closed around the country and using mobile devices has proven to be an almost seamless experience for working Australians.   The study showed 37% of Australians surveyed have been working from home. 

Using XERO and MYOB on your device you will be able to utilise the live bank feeds and set up recurring transactions.   From the bank statement description whether it is a payment or receipt for a certain supplier or customer, the system will recognise this and it will suggest where the payment should be allocated to.  Bank rules in MYOB are simple but for XERO these are detailed with quite a lot more conditions for matching transactions.   Your accuracy for allocating in live bank feeds will increase and so will your confidence. 

XERO and MYOB allow you to attach scanned documents to the invoice or purchase you enter into the accounting software, this gives you a bit of document storage space.  

XERO has a very large range of add-on cloud based systems that integrate seamlessly and adds functionality.  

MYOB customer support is very good plus they have an online library of support notes, phone support, a community forum, live chat and a dedicated support for MYOB partners.  XERO does not have live support.  It has a community forum, no phone support line, but it does have an online self-help Q&A site and it does have 24/7 email support.   

Prices for XERO and MYOB are best checked through their website.   Depending on the number of transactions you need as to how much you will pay – this is the basics of the pricing. 

Bookkeepers Bunbury is an excellent Bookkeeping solution for your business.   If you are in need of a Bookkeeper, get in contact on 0427 66 99 69.   Please consider your options carefully before selecting your cloud bookkeeping and accounting provider.