I am always keen to empower business owners with the tools to understand their business financials better and then help them with the strategy to be more successful. Online tools such as Xero and Receipt Bank are providing the ability for business owners to run their business differently and enable them to have a much higher level of collaboration with their advisers.
My colleagues and I have already seen how using the latest online or cloud-based technologies has enabled us to revolutionise the way we, and our clients, think about accounting.
Xero has been described as the world’s easiest online accounting system as it gives you real time information of what’s happening in your business. On top of this, it works anywhere and anytime, allowing you to keep on top of your finances and run your business whilst on the go, from home, office or the other side of the world.
- Run your business on the go
Use the Xero mobile app to reconcile, send invoices, or create expense claims – from anywhere.
- Get paid faster with online invoicing
Send online invoices to your customers – and get updated when they’re opened.
- Reconcile in seconds
Xero imports and categorises your latest bank transactions. Just click OK to reconcile.
Xero is quickly becoming the UK’s leading online accounting software, yet I find many business owners are still not aware of it. With so many benefits to small business owners, I believe any business not already using cloud based accounting system should now be making their new year’s resolution to take a serious look at Xero in 2017.
Receipt Bank is an award-winning software add-on that converts all your bills, invoices and receipts into data, making it easy for you to send your financial information straight to your accounting system and / or to your accountants.
Receipt Bank allows you to work more efficiently, taking the stress out of keeping track of your receipts. I have seen huge time savings and other benefits from not needing to store and send in lots of paperwork and receipts.
- Paperless Made Easy
No more boxes of paper receipts. Snap the receipt with the Receipt Bank app, email them in, or upload receipts and invoices directly.
- No more date entry
The technology quickly scans, extracts and organises key information from all of your invoices, receipts and utility bills.
- Seamless Integration
Links seamlessly with Xero cloud accounting software ensuring bookkeeping has never been so easy.
And because the financial data can be easily updated on a day to day basis it means we can offer our clients business advice on real time flow of information. Do please get in touch if you would like to know more or would like to see Receipt Bank in action.
As mentioned, the latest online technologies are really revolutionising the way we can all think about accounting. These technologies are helping to provide clear visibility to our clients on the state of their business as well as streamlining the whole accounting and bookkeeping process. There are so many benefits to small businesses and their advisers that I think it should be one of the hottest topics for business owners in 2017.