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Cloud Accounting 

When running a business, access to the most up-to-date financial data is vital so you can make well-informed strategic decisions. Cloud accounting can provide this.
Traditional desktop accounting software doesn’t show you the whole picture. Lack of access to real-time data can have serious consequences when making decisions about the future direction of your business. It can also have implications for the professional advice you receive. If your accountant only sees your records at tax time, it may be too late to remedy problems or suggest alternative strategies.

Cloud-based software is accessed through the internet and lets you enter and track all types of financial data in real time, from anywhere in the world.
You can control what information other people in your organization can access, and share access with your accountant. Your accountant will be able to collaborate with you to manage all of your financial operations including expenses, payroll, purchase orders, invoices and financial reporting.

Benefits include:
o Banking – connects with your bank accounts, making reconciliations and accounting simple, accurate and always up to date
o Invoicing – see at a glance who owes you money to customize, create, send and receive invoices
o Real-time view of your business – including your bank balances and money coming in and going out
o Reporting – easily generate and view interactive reports
o Extra support from your accountant – who can access the same bookkeeping records to:
 assist with day-to-day accounting if you fall behind
 identify areas that could save you money or benefit your business, such as reminding the debtors to pay.
 help prepare your business activity statement. 

An accounting system is the nucleus of any successful business. The ability to access accurate and timely information from your financial system allows you to resourcefully manage your operations by making informed decisions. If designed and implemented properly, a well-functioning accounting system can save your company time and money while increasing your competitiveness in an increasingly aggressive business climate.
Our approach is to select and tailor your system to meet both your current needs and anticipated needs for the future. We partner with your management team and assess your needs based on your business model and industry specialization. Our approach includes the following:
• Requirements gathering
• Needs analysis
• Process design
• System selection
• Selection of appropriate ERP and/or Accounting software
We guide you through the selection, implementation, and conversion of your data from start to finish. We will ensure your accounting system adheres to all requirements imposed by local authorities.  

Mobirise

Setting up of accounting procedures

Accounting procedures dictate how companies record and report their financial information. Generally accepted accounting principles (GAAP) is international accounting standard in the private industry. These principles provide companies with basic understanding of how to record information for internal and external business use. Because these principles are based on a conceptual framework, business owners have some ability to develop accounting policies for applying GAAP to their business. Additionally, local accounting standards also have to be adhered to.

Accounting Method

An important general accounting procedure is selecting which accounting method the company will use when recording financial transactions. The process of selecting the method involves selecting whether it should be cash-basis accounting or Accrual basis accounting.
The setting up procedure encompasses issues like Accounts Payable, Accounts Receivable, Accounting period, reconciliations etc.