Take the Fear out of your Bookkeeping and Tax obligations

When people ask us how we are able to provide high-value accounting services at a reasonable cost, the number one reason we offer is that we leverage the power of Xero.

The data that Xero provides in real-time, via the cloud, saves time. Clients who partner with us in using Xero are then able to reinvest this time into providing high-impact services to their own clients, growing their cash flow and bottom line while allowing time for team-building and business development.

With instant integration of debits and credits in the cloud and connectivity with banking platforms, it may seem like a brave new world. We’ €™ll help you along the way with any questions, and you can rest assured all transactions are performed using the same industry-strength security used by the major banks.

Take the fear out of your bookkeeping and tax obligations, give us a call in Perth on  0421 824 137

Travel with zero weight and still have full access to Xero

Hello again from Accolade Accounting, the small business accounting experts in Perth and also the experts in Xero.

We wish you a very profitable 2016 and may all your financial targets and expectations meet with success.

Let’s start 2016 by looking at another fantastic feature of Xero that provides additional efficiency to the accounting world and small business.

These days, travel is an everyday occurrence. It is very easy to hop onto a plane and a few hours later be in another city, whether to meet with suppliers or potential customers or for mere recreation and time out.  A scary situation for you,the business owner, is being away and out of touch with your business. “What state is my business going to be in when I return?”

BC X (Before Cloud Xero)

Before the Xero era it was very difficult to keep up to date with your business performance while away.  A call to the general manager would be about the best a business owner could hope for in receiving up-to-date information about how your business is performing.

AC X( After Cloud Xero)

Today this fear is allayed. You can access your business information from anywhere around the world and at any time. What do you have to do in order to be able to do this? Have access to an internet service, which today this is like breathing oxygen, and is available everywhere.

You, the business owner can access the business information via the  Xero accounting package as if you are sitting at your desktop in your office.

Furthermore, all the original invoices are also easily accessible within the Xero file.

All the Profit and Loss and Balance Sheet Reports are available to you the business owner at a push of a button while you are away from your office, so you will maintain control of your business 24/7.

So never fear to travel again!

Make 2016 the year that you become part of the Xero generation by calling Neil on 0421 824 137  for a free discussion on how you can join.

Until next time … Keep Xeroing

No business owner wants Zero cash flow but every business owner wants Xero cash flow

Hello from Accolade Accounting, the small business accounting experts  in Perth and also the experts in working with  Xero.

Let’s continue to look at another fantastic feature of Xero that provides additional efficiency to the accounting and small business world.

In the times of BC X (Before Cloud Xero), it was very difficult for the business owner to compile an accurate cash flow in real time. There was just so much information to take into account and to consolidate all of this was a nightmare and to do this on a regular basis was almost impossible.

Now AC X( After Cloud Xero) this has all changed.  Xero has so many reports that enable easy consolidation of critical cash flow aspects of a small business that all business owners now have the ability to work with very accurate cash flow information and organise this in very little time.

Cash flow is the oxygen of a business, and with Xero it has now become possible to have additional oxygen tanks connected to every small business.

Accolade Accounting are the small business cash flow experts in Perth so give us a call on 0421 824 137 to get your cash flow up to speed.

Until next time… Keep Xeroing

“I don’t have a list of my Fixed Assets. Ask my Tax Accountant.”

Hello from Accolade Accounting, the small business accounting experts  in Perth who love working with Xero.

Let’s continue to look at another fantastic feature of Xero that provides additional efficiency to the accounting world and small business.

In the times of BC X (Before Cloud Xero), it was very difficult for the business owner to obtain a schedule of business assets. The only person who had this information was the tax accountant and it represented the situation at 30 June the prior year. The tax accountant would compile a list of assets  in order to calculate the write down value for the income tax return for the year.  If the business owner needed to know information about the business assets during the year , they would refer to this tax accountant prepared schedule which would be out dated. This situation was ridiculous. A business owner having to estimate the value of his/her assets which could comprise a major portion of the value of the business. This is unacceptable!

 

Now AC X( After Cloud Xero) this has all changed.  Xero maintains a fixed assets register as the purchase invoice is processed into Xero. So this schedule will never be out of date and inaccurate and best of all it is available 24/7 and from any device.

No more excuses for not having an accurate fixed asset register every single day and it automatically calculates the write down that the tax accountant can use when preparing the tax return.

 

Now Xero has given the power back to the business owner by making information available very simply,  like never before.

 

Until next time… Keep Xeroing.

Away Away with the Old Cashbook

Hello again from the small business accounting experts in Perth. Today we will look at how the world of accounting has changed with the extinction of the cash book.

Thanks to Xero, we no longer need to enter transactions into a cash book and then reconcile to a bank statement.

Now , the bank transactions are automatically imported into the software and we match each entry to either an invoice or a general ledger account and that’s it, real time reconciling with every transaction. The information is imported under the same strict security controls that apply to all electronic bank transactions.

So when you log into Xero for the first time in the day, the bank statement transactions are waiting to be processed.  Not only has the file updated over night, but the system will also match the transactions to appropriate invoices or general ledger accounts.

Even more than this, it is possible to set up bank rules and leave questions against the transactions to speed up processing even further.

All these advancements will reduce the time and cost it takes to process bank transactions.

You can also experience the benefits of this improvement for your small business.
So come on what are you waiting for…..?

Become part of the Xero generation by calling Neil on 0421 824 137 for a free discussion on how you can join.

Until next time … Keep Xeroing

The Filing Cabinet joins the Dinosaurs

Hello again from Accolade Accounting your experts with helping small business improve their cash flow and profit.

We will continue to look at the changes brought about by the cloud based Xero accounting package.

 

Before cloud Xero  (BC X) all businesses used to store supplier and customer invoices in files. This is because the ATO requires most documentation to be kept for at least 5 years.

The most recent years of invoices would be kept close by and older years stored in a storeroom.

Now after cloud Xero (AC X) NO files are needed. All supplier invoices are stored electronically in the Xero accounting package, but more than this, they are attached to the relevant transactions.

Should you need to find a specific invoice, you simply go into the Xero file and search electronically and you will find the transaction as well as the attached source document.

Even better, there is place within Xero to store all non transactional documentation, as well such as business set up documentation and agreements.

So all documentation can now be found in the cloud all in one file. What a time saver and no more excuses” I can’t find it”

Until next time….

Keep Xeroing.