Xero will have the following advantage to you
Ease of Access. You can access your financial data from anywhere at any time without having to download and install anything on the computer you are using. All you require is an Internet connection.
Integration to Bank Data. Your Bank Account, Credit Cards and Loan information can be downloaded into your accounting system daily. All you have to do is allocate account numbers, and activate the “feed” through your bank, once. This saves huge amounts of time in data input and reconciling. Most Cloud systems have the ability to remember recurring transactions, or link suppliers to expenses based on your spending history. One of our clients has an average of 280 transactions on their bank account per month. Because of this feature they only had to allocate 28 items each month.
Reduce Expense. Regardless of the size of the business, there are large cost savings using the Cloud. There is no initial upfront cost and you will never have to upgrade your software to the latest version again. There will be no heavy investment in new servers of computer systems to store your information, and the maintenance of the systems will be covered by the software provider.
Security of Date. There is no need to backup data. The providers of these systems store data in several locations. For example, SAASU has its head office in Christchurch, NZ. When the city was hit by major earthquakes in February 2011, their clients did not lose any data or suffer any downtime. This is possible because their data was stored not only in Christchurch, but also on other servers in other locations.
Integration with Other Business System. Most of the Cloud Accounting solutions are written using open architecture. That means that other business applications such as CRM, Inventory, Point-of-Sale, eCommerce, Project Management etc, can be integrated into your accounting system seamlessly.
Better Collaboration with Bryan A Payne Accounting Group. Because we have access to you live accounting system, we are better equipped to give you instant advice. We can access your data as soon as you let us know it is ready, and we can log in at the same time as you to help you with any issues that arise during the year. We can see exactly what you are looking at, as you are looking at it.