Businesses from large corporations to small enterprises are converting some or all of their data and systems to cloud computing services to be more competitive due to its many benefits. So, what does cloud accounting offer a business that is used to traditional accounting system?
No Need to Rip and Replace Cloud accounting can run on existing your computer hardware. This means that you can switch from traditional to cloud accounting without any costly upgrades or additions to your existing infrastructure.
Lower Operational Costs and Predictable Overheads Cloud accounting offers a simple and easy to understand pricing scheme that allows for easy month by-month budgeting, or annually to get more attractive offer. Furthermore the expenses on cloud accounting is PIC. claimable. You no longer a need to spend huge capital on assets that will depreciate every month. This will lead to a reduction in rack space, power consumption, and IT overheads. You will gain by having lower installation, maintenance, hardware, upgrade, and support costs. For small businesses, these savings are quite significant and the savings can be redirected and put into other business-enhancing areas.
Accessibility and Flexibility With cloud accounting you have the ability to access and modify your accounting data, issue invoices from any number of devices in any location. Usually, if something has been saved on a personal computer, you can only access the file from that particular computer. This is restrictive. Instead, you and your employees can gain access from anywhere, at any time of the day, making everybody more productive. If you use cloud accounting, your team can access to your accounting data even when not physically in the office. This means that your office space can be smaller, which of course means lower rent!
Better Collaboration Improves collaboration between you, your team, and your accountant
Security Have you ever lost your laptop or had it stolen? If you store all of your data on a laptop or mobile device, this information can be easily stolen and accessed. However, if you use cloud accounting, your laptop merely becomes a device through which you access your work – the data itself cannot be stolen with the laptop because you require your user name and password to get into the cloud where your accounting data is stored. Xero has been available greater than 99.8% of the time. The system has redundant servers and a self-correcting error detection program. Xero’s employees, assisted by automated tools monitor service performance 24/7, 365 days a year. The system is housed in Data Centers, which is monitored 24/7 by full time security staff, CCTV surveillance, and alarms. Support, Automatic Updates, and Server Maintenance When you go on cloud accounting software, you never have to worry about software upgrades or forgetting to backup your accounting data. All this are done automatically and best of all at no extra charge to you!
Our Accounting Services includes:
Setting up a chart of accounts
Maintenance and preparation of accounting books and reports
Profit and Loss Statement
Trade Creditors Listing
Trade Debtors Listing
Bank Reconciliation Report
Fixed Assets Register
Some of the Documents Required:
Monthly Bank Statements
Hire-Purchase Agreements (if any)
Monthly CPF Statements (if any)
Monthly Foreign Worker Levy Statements (if any)
Used Cheque Book Stubs (if any)
Salary Vouchers (if any)
Any document that could possibly explain a particular accounting entry.
Please note that the estimated fees illustrated are indicative in nature. Feel free to contact us to obtain a non-obligatory fee quote that will best reflect the quantum of accounting work necessary for your company.
For an accurate fee quote to be presented, we will need to obtain the following information from you:
How to Get a Fee Quote If you would like to get an accurate accounting fee quote for your business, you may complete the following online form and our accounting specialists will get in touch with you within one working day. Alternatively, simply call us, SMS or WhatsApp us at +65 8312 2664 to arrange for an appointment with us to discuss your accounting needs!