Why you should consider cloud bookkeeping over traditional bookkeeping

Why you should consider cloud bookkeeping over traditional bookkeeping – Traditional bookkeeping went from having just the pen and paper to the computerised excel spreadsheet and then the  desktop based accounting software entry. Accounting has changed and moved up the productivity range by quite a bit since the good old days. Gone are the days when you have to spend days just to do up the bookkeeping work for a business that is running well.

You can complete most bookkeeping and accounting work within the day and if you are proficient, in an even shorter time than that. Over the years there are new innovations that continuously help this industry to improve and at the same time help to allow the accounting industry to save on cost by being more productive. We will explore this changes and also look into the advent of cloud accounting and cloud bookkeeping software that are able to improve the productivity of accountants even more than what it already is.

Why you should consider cloud bookkeeping over traditional bookkeeping

So why you should consider cloud bookkeeping over traditional bookkeeping:

Reason 1: Cloud Accounting allows your customer to partake in the bookkeeping process

Most business owners have accounting software or they will use excel or words to issue their invoices. This is something that can be done through cloud accounting software like XERO accounting. Cloud accounting software allows your customer to look into doing up their invoicing from the software that you are also using to do your bookkeeping and accounting work.

You customer will also be able to save time and increase their productivity when they need to issue new invoices through this system. This is something that most business owners will really love. When you are running around trying to close deals, the most convenient way is to be able to issue quotations and invoices on the move.

The fact that you are able to issue quotes from your mobile devices is one of the main advantages why you should consider using cloud accounting software. You are able to email the quote straight to your customer while your are chatting with them. And when they confirm the quote, immediately use your mobile application to issue the invoices, this saves you time and effort and your customers will be impressed with your efficiency.

Reason 2: Cloud Accounting allows access into accounting data wherever you are

In the past, when you need to find out how much you made for that month or how much you spent for that month, you will need to wait until the end of the month after the accounts are done and then you will need to wait for the reports to be generated for you and then sent to you. This takes up too much time because for a business owner, the most important thing is when they have information that is able to help you make decisions to help you improve your business.

Decisions that are made early in the business can help you to grow faster than your competitors and win in the long run.

You will also be able to access your bank data early on so that you can check on how much there is in your bank through this application as well.

This not only helps with bank reconciliation but also how your money is moving in and out of your business.

You can also view your information across platforms such as your phone, your laptop, your desktop and your tablets.

 

Reason 3: Cloud Accounting allows you to operate even when there are updates on the software

The problem with my desktop based software is that there are down times that you have to factor in. You have to download patches as they come which takes a lot of time and when you are installing the patches, you are not able to work on the accounting of the company.

Businesses do not have such luxury of time and if the team is a 4 man team, 4 man time is wasted while the system is updated.

This is something that most business will have to face if they are using software that require updating on a regular basis. If there are security breaches, its even more important that you get them updated immediately.

Down time is unavoidable in this case and this is something that many have to consider with the traditional accounting methods.

 

Reason 4: Cloud Accounting allows you to be at the forefront of technological changes

As the updates are updated in the dead of night when most users are not using it, you do not need to worry about down time. You will also be able to use new features as they are updated to your system. The good thing about cloud based system is that you get changes as they are being improved for your use.

Cloud Accounting allows you to try out new functions that the company wishes for your to try. For example, Xero has recently added the function of receipt scanning for users who wish to try them out. This allows you to save time and also effort in getting your receipt data into the system. At the same time you are able to compute and finish up the bookkeeping work at a faster pace than usual.

You also get pushed new data which may become useful for you as your business grows. You might not find a use for it right now but eventually you might. So why not have that option open for you.

With new technology comes extra advantage over your competitors, with that you will be able to ensure you can win easier than the rest of them.

Reason 5: Cloud Accounting is cheaper to start off with

Accounting Software that are desktop based can cost a lot to start off with. With most system costing in the thousands, you might not have that kind of funds to use them in the first place.

Most businesses start off with very little financial support and this is something that is limited. You will be better off spending money on other more useful products and services than on an accounting software.

Cloud Accounting software has a benefit where it is subscription basis and they cost you just $30 usd a month to run and operate on. If you require less features it can even cost you even lesser.

You will also get to try out new functions along the way. This leaves you with more funds for other uses and you will not have to get a headache from trying to find out how to find funds to just buy an accounting software.

 


Starting a business is not easy, there are many issues that you have to work on and iron out before you are able to get into profitability. There are also decisions that are tough but necessary and if it involved cutting cost you will have to do it.

We are glad you spent time to read out article on “Why you should consider cloud bookkeeping over traditional bookkeeping”.

Decisions are made in the best way possible when you have information to back those decisions.

K Cloud Accounting is focused in assisting Startups and SMEs in this journey through our dedicated Xero Cloud Accounting services for Singapore.

K Cloud Accounting is also able to assist in Taxation, Incorporation, Corporate Secretarial and Payroll Services.

Visit our site now: http://kca.sg/

 

Why you should consider cloud bookkeeping over traditional bookkeeping

How cloud based integrated accounting services can help improve your business

5 reasons to headquarter in Singapore to reach out to South East Asia

5 reasons to headquarter in Singapore to reach out to South East Asia – Singapore is a great place to grow up and live in. Singapore has one of the highest education literacy rates, lowest crime rates and also one of the best place to make money.

Being the central position of the whole South East Asia region, Singapore sits on a very unique position not just for the region but for the world. Being one of the turning points for the main sea trade routes, Singapore has grown over the year into one of the major financial headquarters of the world. Singapore has taken advantage of this and turn the nation into a strong finance hub for people who are trading in the region but also at the same time for players in the region.

5 reasons to headquarter in Singapore to reach out to South East Asia

So we shall now explore what are the 5 reasons to headquarter in Singapore to reach out to South East Asia:

Reason 1: Singapore is one of the top financial hubs in the world

Singapore is one of the top financial hubs after that of New York, London and Hong Kong. Being one of the core nations in South East Asia, most of the funds of the area are parked in Singapore. Business owners take advantage of the closeness of all the financial services in Singapore to manage their funds for their personal investments and corporate investments.

Having the status of a financial hub also means that you can get your currency exchanged done quite easy and with good rates in Singapore because most of the funds are in Singapore. Singapore is also able to handle your financial work close to 24/7 with a strong and never sleeping financial sector that is in place for the wealthy and powerful to grow their money at a constant rate.

 

Reason 2: Singapore has a strong rule of law and court system

Rule of law is what is lacking in the region. There is still rampant corruption in most countries in the region and this is something that many business owners are worried about. It is well known that contracts for transactions in other countries are signed in Singapore. Since both companies can set up base in Singapore, they can sign their contracts in Singapore for execution in the home country. In such situation, if one of the members decide to go against their word, the victim company can use the laws of Singapore to take the other party to court and recover some losses.

Being a country that places a lot of focus on the execution of the law and strictly going by the book, business owners can be assured that they will also face a fair trial if they have to appear in court.

This fair system allows both parties to have a better chance as compared to money politics and money law that can be in place in other countries in the region.

 

Reason 3: Singapore has a very well educated employee pool

Head quartering a company means you need to have strong executive and also administrative team in that country. Singapore has the best educated pool of employees in the world. Being ranked one of the top for education, Singapore is able to handle the needs of most demanding companies that might need someone who is good in accounting, economics or finance to manage their businesses remotely.

Hiring is also easy for most companies, you will be able to find a local who will be happy to travel around the region for work. You will also be able to bring in employees from the region to work full time here, after you have fulfilled quota requirements.

 

Reasons 4: Singapore has a strong and stable currency 

Currency can mean profits or loss depending on which side you are. This is also one of the worst fears of the businessman in the region. There are economies where the fluctuation of the currency can be 10% , you will be safe to have your hands on the Singapore dollar. One of the most stable in the world and controlled closely by the MAS, the Singapore dollar is a great way to hedge against losses in currency exchanges.

Singapore needs to maintain a strong currency structure because it is highly dependent on trade and this is something that you can be assured to not change for a long time. You would also be safe to hold your cash in Singapore for your savings and investment as Singapore is also one of the best countries in terms of security. 

 

Reason 5: Singapore is position right in the middle, traveling in the region is mostly within 2 to 4 hours 

Travel can be a big headache if you are on the far end of the area.

Singapore is right smack in the middle and Singapore Changi Airport is also one of the biggest aviation hubs of the world. You can get to most parts of the South East Asian region within 2 to 4 hours and most business owners fly to have their meetings and return within the day which makes business doing in the region very easy and smooth. Coordination with them over time zones is also easier because since you are in the middle, you are not distracted too much by the extremes of time zones.

Singapore is also aligned to the time zones of Hong Kong and Shanghai which makes doing business with this major business hubs easier since you can make phone calls and having meetings with them easily. 


 

K Cloud Accounting is a Singapore based management services company. We closely assist local and regional entrepreneurs to manage their government submissions and requirements. We also work closely to help our customers maximize their profits in this challenging business environment.

K Cloud Accounting provides payroll services, accounting services, taxation services, corporate secretarial services and audit services for our clients ranging from Startups to mid size SMEs.

K Cloud Accounting looks forward to assist you with your Singapore Company Incorporation Services or you can visit: http://kca.sg/

5 reasons to headquarter in Singapore to reach out to South East Asia

Benefits of using Xero Cloud Based Accounting Software for Bookkeeping Services

Benefits of using Xero Cloud Based Accounting Software for Bookkeeping Services – There are many software that are available for businesses that wish to improve their productivity and generate more revenue and income for their businesses. The best software are those that are convenient to use and able to help you improve your business processes and able to save you time and money overall. We shall now explore some of the Benefits of using Xero Cloud Based Accounting Software for Bookkeeping Services.

Benefits of using Xero Cloud Based Accounting Software for Bookkeeping Services

Benefit 1: Xero Accounting Software updates on a regular basis

Xero accounting is a New Zealand based company which has raised quite an amount of money over the past few years. The company has worked hard to deliver quality functions that most businesses can use for their operations and there has been updates on a regular basis to include more functions as standards.

The most important thing about Xero is that it keeps all its platforms updated as well. So whether its their website or their application, you get the new functions as they are updated.

 

Benefit 2: Xero Accounting Software has multiple platforms for ease of usage

Other than just having the features of the software on the computer screen, Xero also has a multiple function application on mobile allowing you to access quite some features when you are on the go.

For business owners that are starting up, being able to be flexible to run the business is very important. You are able to issue invoices and check the receipts of payments on the go when you are on transport or waiting for the next client, helps you to improve your efficiency and sales.

You are able to take photo of receipts and send them to your accountant immediately, this is really a great feature for most owners to just make records and move on.

Benefit 3: Xero Accounting Software is affordable to most users

If you are not using most of the invoicing feature, it starts from $12 a month. For those who require invoicing features, it starts from $30 a month. This is something that most people dont realize, that the price is great for companies that are just starting up. No high up front cost, you pay the monthly usage fees and you get support all year round when you need them.

The price range is also absorbed by partners or advisor you work with when you run Xero software with this accounting companies.

Benefit 4: Xero Accounting Software is very popular in Singapore with startups

The most important thing about using a software is when most of your other friends are using them. Xero is now one of the most popular cloud based accounting software in Singapore. There are features where you can send invoices and get payment online. With you and some of your customers working on the same platform. The transaction is almost seamless.

You also get support from the strong local team of Xero when you work closely with Xero in Singapore. With a strong presence means they will have to spend more to ensure service standards are strong in Singapore.

Benefit 5: Xero Accounting Software, there is no fear of security problems 

The biggest problem is when you lose your accounting information after they are all entered into the system. This is something that is the worse nightmare for most business owners. Xero has its back up systems to ensure that they are also working strong.

Xero also has 2 factor authorization for you to go through before you can login. Ensuring that unauthorized personnel are not able to access your system data.

 


K Cloud Accounting is a Singapore based Xero Accounting Services firm. We are able to assist startups and SMEs in accounting, tax, corporate secretarial and payroll services needs.

You can find out more on our page: http://kca.sg

 

Benefits of using Xero Cloud Based Accounting Software for Bookkeeping Services

5 reasons to outsource accounting services in Singapore

Do you run a business? Business running is something that is tough and time consuming and takes up your emotional and physical strength. Most business owners have to manage multiple parts of the business themselves and it can be very tough for a startup founder who is working on something on their own for the first time.

Running a business will definitely be easier if you have a partner in arms that is able to assist you in getting things done up fast and with some form of consultancy.

5 reasons to outsource accounting services in Singapore

Reason 1: Outsource accounting services saves you time

Time is money, business owners need the time to plan and execute their plans. Plans make progress, progress makes you money.

For the business owner to be able to generate the revenue and also close the sales. He or she will have to go out and meet people and knock on doors or send out emails to other business owners. Time is taken up on that aspect and this is something most business owners do not realize. They shouldn’t be spending time on accounting or trying to get their administrative work done by themselves.

Outsourcing this parts to a professional will be great for your business because then you will be able to spend time on sales. Walk the door the door, send out the pamphlets, meet the random introduction.

 

Reason 2: Outsource accounting services is great on your limited startup budget

Startups do not have reserves to run on. Most budgets are limited because it is either the founder’s pocket money or they raised funds from somewhere. With such a tight budget to operate and run the business with, you will want to deploy them where they matter. Hiring the best person or having them in the marketing portion of the business will be great for the business.

Accountants that you hire in-house can cost you up to two thousand or even three thousand sing dollars to maintain them a month. This is way too much for a function that is not really core for the business.

Outsourcing the accounting to a professional firm like ours will be a great way for you to save up on cost and last your business for a longer runway for business to grow.

 

Reason 3: Outsource accounting services ensures quality work is done for you

When you hire someone who is fresh from the university, he or she may not have the necessary industry knowledge to assist you in your business requirements. Most people just have a short internship stint with their school and that’s about as much experience they have in accounting. That is barely enough to cover the work of a startup where sometimes because of a different or unique business model. Your accountant might not even know how to handle the business model differences and defer to just the normal ways of doing accounting.

Quality work can be covered by experienced accountants who are able to see the quality of work from other companies and also with their wealth of experience managing so many companies, able to deliver very good work for your needs.

Accounting firms also send their staff members for training to improve and upgrade their skill sets. This ensures that they know the latest developments as discussed by the government changes every year.

Reason 4: Outsource accounting services can help you analyze your business and give you insights

Experience in getting accounts done up can also translate into better insights when giving advice. Most businesses face the same growing pains and sometimes this pains need not be walked through by the same type of business man. Our service staff is able to detect and advice our customers when they see that they are doing something that they find familiar in other customers work.

This is something that someone in-house is not able to provide because of the lack of exposure to other circumstances.

Businesses that are traditional might also be able to enjoy the analysis of our accountants who can use ratios and compare you to how well you are doing versus those of other companies and give you an idea if you are paying too much for a part of the business or spending too little on the other. This will allow you to find out whats right and whats wrong fast and easy. ”

Reason 5: Outsource accounting services helps you improve your business

The hardest part about doing a business is being limited by the entrepreneurs skills and also the visions of the entrepreneur. When he or she starts off, all he cares for is to survive. When it flourishes, it is when there are limits to where it can transit and grow. The skill sets are limited if one does not have the education or the experience to bring it to the next level.

Consultants are usually brought in to educate and assist the entrepreneur to help them see the ideas and also the problems with the business so that they can help the business grow.

Having someone on the accounting side is great to help you cut cost and also to help you ensure everything is running smoothly and not that something is too over or under estimated.

Making good estimations and good planning can also make or break a business that is starting off.

 

Conclusion:

Starting up is really tough for a newbie or even for an experienced hand on the deck. Having strong support from other parties might make or break the business and this is something that many businesses should pay close attention to.

K Cloud Accounting is a full suite services company that provides high quality accounting, corporate secretarial, payroll, taxation services for our clients. Our clients range from startups to SMEs that aims to improve their processes and accounting flow.

We look forward to working with you and your team to deliver the best service standards for the betterment of your business.

You can find out more from our Xero Accounting page: http://kca.sg

 

5 reasons to outsource accounting services in Singapore

5 reason Xero Cloud Accounting Software can help companies run better

Running a business with very little experience as a startup founder is something that is very foreign to many people in Singapore. For founders who come from an education system that prepares you only to be a great employee who delivers high quality work to MNCs, most Singaporeans are not very well equipped for entrepreneurship.

Accounting is something that will require special skills that most people are not equipped with. Even for those that graduate Business school will only know very basic accounting knowledge.

Xero Accounting Software is a cloud based software that has in recent year took on a more prominent role in the Singapore economy. Xero has managed to capture a good amount of market share and is able to lead the business world in the cloud based sector of accounting software.

5 reason Xero Cloud Accounting Software can help companies run better

We will share and discuss 5 reason Xero Cloud Accounting Software can help companies run better:

Reason 1: Xero Cloud Accounting Software is used by many startups in Singapore

You might be thinking how is this going to help you run better?

Having many people on the same platform means you can perform certain parts of the business through the app and you will be able to monitor them closely. For example payment can be requested in app and you will be able to update immediately through the platform. With more people on board the platform, Xero will also be able to learn the needs of the companies in Singapore and figure out what functions to update and change when it is needed.

 

Reason 2: Xero Cloud Accounting Software is updated on a very regular basis

The most important part of doing a business is to have the most updated equipment and software that you can rely on. Why is that important you might be thinking? The thing about having updated software is so that you are relying on the most productive software. Time is money in the business world and this is something that many people will need to understand.

With also new inclusions there is a lot more that the startup can take advantage of to do well for the productivity of the company. 

Xero does an update every other month on their core software and it includes making many interesting function standard and this helps the company and also the accounting firm to better deliver their services for businesses.

 

Reason 3: Xero Cloud Accounting Software works with top 3 banks of Singapore for bank reconciliation ease

We just received latest news that OCBC has started working with XERO to integrate the bank reconcilation system with XERO. 

That makes all three major local banks, UOB, OCBC and DBS being partners with XERO. Most local businesses run one of this bank accounts and for startups, one of this 3 banks will definitely be your preferred choice for startup bank accounts. 

Bank reconciliation is made easy with this function, saving time for your accountants and also allowing the entrepreneur to find out the bank balance of the company when they access the application to find out more about their bank details. 

 

Reason 4: Xero Cloud Accounting Software is easy to use and learn

The strength about using Xero as your accounting software is that it is a very easy to learn software. It takes just 1 to 2 hours to figure out most of the function and there is many functions that the entrepreneur can use to improve their own business.

We will provide free training for new customers and at the same time it is available as an app on the iPhone and Android.

 

Reason 5: Xero Cloud Accounting Software has apps that are able to do more than just accounting

Similar to the app store of iPhones, Xero has its own app store that is able to give you additional functions that will allows to do more. Apps such as receipt bank for example helps you to scan receipts and make them into expenses documents within the software.

There are also new apps that are developed every month to help the users of Xero to improve their needs and this is something that makes Xero stand out better than the rest because of the full environment that it develops for other producers to produce software that can help businesses run better.

 


 

5 reason Xero Cloud Accounting Software can help companies run better


K Cloud Accounting is a Xero Based Cloud Accounting Services firm that is able to assist startups and SMEs to carry out accounting, bookkeeping, taxation, corporate secretarial and incorporation services.

We look forward to working with startups and SMEs as our founder is also a young founder himself. 

Find out more about our Xero accounting services here: http://kca.sg/

5 reason Xero Cloud Accounting Software can help companies run better

5 reasons small SMEs and Startups choose Xero Cloud Accounting

What makes the accounting services industry improve with time in Singapore

The most important thing in running a business is to make improvement to your business processes over time, when it comes to running a strong and long surviving one, having a company that does not stop innovating is key. This is something that most business know but do not actively practice.

Innovating is what makes things change and more customers to pay attention to you and your value to them. This is also one of the ways where you are able to bring about more revenue and more income for your business.

When it comes to a business that only functions on the common and mostly just repetitive work like accounting, there are little space to innovate but when they do appear the business shifts quite a bit because of the increase in productivity by this units.

There was a big shift when software came into play to do up accountings in a fast and efficient manner and this is something that many businesses and people recognise and made changes to.

Those that did not make the change ended up dying and having to go through the phase of losing their business to those who are willing to change.

Software have over the year improved and also became more efficient in helping others to get reporting done up in a fast and easy manner.

The shift comes in the form of using a new accounting software that is cloud based and online and this makes things convenient for users who want to be able to access their information 24/7. Xero Accounting Services in Singapore is now very popular because you get to access your information anytime and anywhere

Work hard to create one of the best values you can for customers and customers will definitely return the favour back to your through their support of your products and services.

Same thing goes for the accounting services industry in Singapore, if you work hard to provide value for customers you will be able to get back the support from customers who enjoy working with you.

 

What makes the accounting services industry improve with time in Singapore