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Much for Freelancers and SMEs to gain from Cloud Accounting
Having worked for a traditional accounting firm before starting out on his own, Ziyang, the founder of Kaiyang Business Services, saw how SMEs and freelancers struggle to have the proper accounting information to run their businesses. Unlike MNCs, they have limited budget and resources to hire professionals or invest in expensive traditional accounting software. A…
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Bank Reconciliation
What is Bank Reconciliation / Month end closing? It is the closing of accounts you see big companies do every month. By closing accounts, you can make sure that what shows up on your bank statement tallies with your accounting records and catch any discrepancies early on. As such, it acts as a check on your…
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What is Cloud?
The cloud is where you put all your data, all your files and even your software so you can access it from any computer or mobile device, anywhere, anytime. Think internet banking, web mail, cloud storage, online education, online shopping, All necessities in life are moving to the cloud. Accounting has lagged behind for a…
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Why Cloud Accounting?
Cloud software is becoming the norm. But why are businesses jumping on the cloud accounting bandwagon? Benefits of cloud accounting Get a clearer overview of you finances in real time Multi-user access makes it easier to collaborate online with your team and advisors improved data access and analytical reports allow for better decision-making Everything runs online…
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Problems with traditional accounting software
Few business owners enjoy accounting tasks. It’s a chore. Not in the least because of the following problems: Data in the system is never up-to-date Software is outdated; Difficult and time consuming to upgrade software Only works on one computer and data has to be transferred using a USB drive. this is unsecure & unreliable…
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3 Areas of efficiency with cloud accounting
You may have heard of using cloud software to take care of accounting. Why care about that? Because it has several efficiency advantages as compared to non-cloud ways of accounting. 1) Time efficiency With cloud accounting, you don’t have to waste time manually inputting numbers. It frees up your time grow your business. You can…
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Invoicing with cloud accounting
The traditional way of invoicing can be tedious. For example, if you are a salesperson in a meeting with a client and have just closed a deal with him. You have to get back to your admin staff to write up an invoice or do it manually. After that you may have to email it…