Cloud Accounting

Cloud Accounting with XERO

Are you spending too much time doing essential business tasks?

Are many essential tasks require completion consuming your time and resources?

Could you use a better and easier widget to save you time?

We have brilliant news for you!

Converting your accounting systems to our cloud-based solution will save you time, money, and improve your cash flow.

Most important of all offer your customers

Better value customer service,

Attract customer loyalty, and

Give them more reasons for repeat purchases.

We offer you e-invoicing

We have described the benefits of e-invoicing for you

A. Better invoice tracking

Once you’ve sent out your invoice, what happens next?

Traditionally you would wait until the due date and keep checking your bank account to see if you’ve been paid. And then start ‘chasing’ if the money hasn’t arrived. But with e-invoicing comes automatic tracking:

i) View payment status

Identifying paid, over-due and past due invoices is just a click away. See all this information on one screen for the overview of the money owed to you.

ii) Create your own reminders

Not all clients are the same. You can add notes and reminders for each client and invoice, from within the invoicing software.

iii) Run reports to get a better insight

You can run ageing reports on your accounts receivable, so you can see which of your clients are poor payers. You could then adjust your payment terms to suit each client.

iv) Create a better audit trail

Good cloud accounting and invoicing software make it easier for you to keep a detailed audit trail. You should keep track of every transaction for when your accountant, clients or the government have any questions.

Invoice tracking is important because neglected bills might never be paid. As a small business owner you can’t afford to lose money like that. Online invoicing helps make sure nothing falls through the gaps.

B. Get paid faster

One goal of invoicing online is to cut the time between sending an invoice and receiving payment. It can make a big difference!

i) Same day delivery

No more worrying about whether your invoice arrived. The software will even send you automatic updates when the customer opens your bill!

ii) Use of payment services

Don’t wait for cheques to arrive in the post. The latest online payment services allow your clients to ‘pay now’ from within the invoice itself.It’s fast, easy and means you get paid almost instantly.

iii) Better security

E-invoicing software is secure and safe to use. It uses special encryption similar to that used by other financial institutions such as banks. Your clients can trust it, so they’re likely to respond to your invoices faster.

C. Save time and save money

Whether you handle invoices yourself or rely on a staff member, bookkeeper or accountant, you’re still paying for the time taken to do the work. Sending them electronically will save time compared with traditional methods:

i) No more complex accounts reconciliation and cash flow management

Keep track of your company’s cash flow by sending invoices to your clients directly from your accounting software on a weekly, monthly or quarterly basis.

ii) No more wrestling with paperwork

No need to dig out old invoices, recreate similar ones or reuse an old template. A few clicks and the new one is sent.

iii) No more worrying about numbering your invoices correctly

Let your accounting software handle this, either with a unique client number or a sequential numbering system.

iv) Your time is precious. Less time spent invoicing means more time to spent growing your business.

D. Reduce your paperwork.

For many years the forecasters predicted the paperless office, but most companies still produce lots of paperwork. The paperwork has to be filed, stored, archived and indexed, and it takes up space.

Because office space is expensive, companies often choose to have their paper records scanned and converted to PDF or other formats, before shredding the originals. But why not cut the need, the cost and time spent on this too?

If you keep your invoices online right from the start, you’ll never have to print them out. Everything will already be archived, indexed and stored electronically.

Online invoicing on its own won’t make you paperless, but it’s big step towards getting rid of paper altogether.

E. Help your clients to pay you faster

Managed properly, sending invoices online can urge your clients to pay you faster. Be sure to:

i) Send reminders

Small businesses are usually busy, so it can help to send a friendly reminder when payment is due.
ii) Offer different payment options

The goal is to make it easy for your clients to pay you, so consider offering credit card handling, bank transfers or PayPal.

iii) Use a company template

Good software makes it easy to tailor the invoice design for each client, while still being consistent in how you represent your company. A professional approach is likely to result in faster payment.

iv) Use a payment service

Get paid faster by using a cloud-based application that will let your clients pay you immediately with the click of a button.

v) Customer invoice automation

When your customers also use Xero, they can automatically load the invoices into their systems

F. Set up your process to get the best out of invoicing online

To make the most of your invoicing software, you need to take a few important steps before you’re ready to reap the benefits:

i) Set up your system properly

Each client should have a unique code and each client’s invoice should have its own sequential number.

ii) Send invoices on the same day of each month

Reliable, regular billing is more likely to result in reliable, regular payment.

iii) Include wording about a small penalty for late payment.

This will remind clients to pay on time, though it is a good idea to cut loyal clients a bit of slack if they nearly always pay promptly.

iv) Set up some simple reports

Accounting software has plenty of reporting options. Review these and decide if you want to create any customised ones. Then run the reports at least once a month so you can stay on top of your company’s cash flow.

Use the cloud to manage your accounts effectively and as an online filing system. That way you can keep your important financial documents well organised and accessible wherever you are.

Online invoicing makes good business sense.

Your clients will expect you to give your products or services quickly, efficiently and often at short notice. So it’s only fair that they pay you quickly too. With online invoicing you can cut many of the delays and barriers to payment. That means you’ll get paid faster, have better cash flow and have more time and money to make your business grow.

Your customers get

Better value customer service,

A unique reason to stay with you, attracting customer loyalty, and

Gives them more reasons to repeat purchases with you.

You can redeem your precious time with Xero’s e-invoicing solution.

Call us today for your quote.

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