How having cloud accounting software can help your business

How having cloud accounting software can help your business

For those who are not very familiar with the concept, the cloud might seem like a scary, ambiguous place where information disappears. In reality, it is anything but that. Cloud computing has a massive array of benefits when it comes to the business world.

With the new Financial Year just around the corner, now is the time to start looking into how your current accounting system or software fits into your 2018 goals and business growth strategy. Getting organised now will help you manage the books faster and more efficiently than ever before.

To sum it up: cloud computing is a way for people and companies to access digital resources (files, music, photos, software, social media, etc.) over the internet. These resources are not stored on your personal or company hard drive. Instead, they are stored on the premises of a cloud computing company.

When it comes to how cloud computing can impact your business, the benefits are abundant. Here are some reasons why you may want to jump on board.  

• Multiple user access: Financial data is available to anyone with login credentials. The company accountant can access the books from their home or office and play a bigger role in the financials of the business.

• Data entry: Cloud accounting software connects to your bank account and other cloud based software. This allows data to automatically flow between the systems, removing the need for as much manual entry.

• Transferring data: You almost never need to transfer data out of the cloud since it is housed in a single location and can be accessed directly through the internet.

• Protecting data: Because the information is not stored locally, there is no risk of losing data in the event of a computer failure.

• Software update: The great thing about the cloud is the updates take place automatically. You always have the most recent version of the software, without being forced to pay extra or go through another installation process.

• Insights: Cloud computing gives business owners’ access to real-time data. This big data can help inform business decisions with real time information which will help you to grow your company in a more productive manner.

 

So what do you think? Do you have a better understanding of all the ins and outs of the cloud? And are you ready to use it for your business? If you are ready to move to the cloud get in touch – we are cloud integration specialists that can help make your transition to the cloud smooth and stress free.

 

Is operating more efficiently and having more time to focus on your business one of your 2018 goals?

Is operating more efficiently and having more time to focus on your business one of your 2018 goals?

Trying to run your business using inefficient accounting software is like trying to build a brick wall with inefficient mortar; if there is not enough holding the wall together, bricks will start to loosen and soon, the whole wall will crumble.

Therefore, it is essential to understand how efficient accounting and financial management software will not only hold your business together, but also become the foundation for greater success and profitability.

Keeping “the books” for a business was literally a paper-based process involving a ledger, lots of columns, and a pencil to record the business’ essential financial data. However, times have changed.

In this digital age, even the smallest business can benefit from using accounting software.

Accounting software can not only help you reduce human errors in calculations, but it can help you gain insights into your business that are not always easy to see in paper form. This includes generating sales forecasts for the next 12-months, or using the extensive report range the software provides to determine what are your highest expenses, pinpoint your least profitable service and identify budget blowouts.

What else can accounting software do for your business? Accounting software offers the business owner mobility, flexibility and a better lifestyle, as often the software in the digital age is “Cloud” based.

Cloud based software allows you to see your business account balances, outstanding invoices, overall cash position, and much more – 24 hours a day, 7 days a week and from anywhere, provided you can access an internet connection.

These days, you can run your business from your traditional desktop, an iPad or similar tablet device and even your mobile phone. Most cloud based accounting systems have apps you can download to the device.

This translates into allowing you to run your business without sacrificing a flexible, balanced lifestyle. Gone are the days where you must be at the office to run your business. You can have visibility and certainty over your business’s finances with the flexibility to access your business’s financial information even when you are not physically present. Who ever thought accounting software could be so good and provide some much freedom? So, what are you waiting for? We make flying through the cloud easy.

If you would like to learn more about cloud based accounting, integrating software, or customisation of your accounting software, contact the experts at GoFi8ure on 0800 463 488 or email us to find out more.

GoFi8ure – in the business of helping you work smarter with better tools, information and advice when you need it.

 

 

Learn how to use Xero to run your business

Learn how to use Xero to run your business

There are various stages of what we call the “Xero journey”. The Xero journey is a pathway of learning about how to use Xero and the Add-On software products available so businesses can streamline their processes.

So, where are you on your Xero journey? What do you need to learn now?

1. You have never heard about Xero and currently spend hours entering data into a spreadsheet or other accounting software.

2. Heard of Xero but not confident about how “the Cloud” works but you do not want to be left behind.

3. You have recently started using Xero & are loving it! You are telling all your friends & feeling confident you can do this!

4. You have been using Xero for a while and have started looking at reports regularly, but things just do not look right and the numbers are not making sense. You need someone to help you understand the numbers and check your Xero to make sure it is accurate and up to date.

5. You have found an Add-On solution that you believe meets your business needs but you do not know how to implement it or use it.

6. You are telling all your friends about how Xero and the Xero Add-On’s have changed your life!

Getting the absolute best from your accounting software helps to make everything else in the business run like clockwork. Learning the best tips and tricks for using your Xero account to its true potential is a great way to improve your accounting, cut out a big chunk of admin and get a better view of your business health.

If you would like to talk about booking in some Xero training get in touch by emailing us on enquiries@gofi8ure.co.nz or call us on 0800 463 488 today.

 

Become Financially Aware in 2018

Become Financially Aware in 2018Become Financially Aware in 2018

The better you understand your business, the easier it will be to make more money. Management decisions rely on a sound understanding of the financial implications for a business. It is important when you choose an Accountant that they support you in other ways, not just preparing and filing your annual Tax Returns. At GoFi8ure we help to empower business owners so they can fully understand and interpret their numbers. This gives them a strong foundation on which to grow their business.

 

Who would benefit from Financial Awareness Coaching?
If you are passionate about your business and want to better understand your numbers so you can answer questions like:
• How much profit have I made this year?
• Why has my profit increased but I have no cash?
• Is my cash level increasing or decreasing?
• What is affecting my cash level?

 

So, when should you begin Financial Awareness Coaching?
Any time is a good time to improve your understanding of your financial reports in order to improve business performance. The sooner you start Financial Awareness Coaching the better your understanding of financial results and their implications, and the more control you will have over outcomes.

 

Interested to know what the benefits of Financial Awareness Coaching are?
It will…

• Enable you to better understand your business
• Iron out any existing errors to ensure accuracy in your financial reports
• Help you better manage and monitor your cash-flow
• Customise your reports to ensure you capture the right information
• Allow you to format your reports in a way that makes decision making easier
• Help you gain better understanding of the financial implications of decisions
• Give you the ability to make better informed decisions
• Allow you to review your reports and record actions to be achieved before the next meeting
• Help you be held accountable so you can achieve progress between meetings
• Identify any burning issues that need to be addressed
• Access the collective wisdom of our accountants, our systems, products and services
• Phone support to address any burning issues between meetings

 

Call us now on 0800 463 488 to further discuss how Financial Awareness Coaching can help you and your business.

 

 

 

How to avoid going insane in your business in 2018 eBook

"How to avoid going insane in your business in 2018" GoFi8ure eBook.How to avoid going insane in your business in 2018 GoFi8ure eBook.

As 2017 comes to an end, it is the perfect time to reflect on the year that has been and the new year that is coming.

Click here to download your copy of our complimentary How to avoid going insane in your business in 2018 GoFi8ure eBook. 

From the team at GoFi8ure, we wish you and your loved ones a Merry Christmas and much success for 2018.

 

 

 

 

 

 

 

 

NZ Business Magazine – GoFi8ure Accounting Software Specialists

Have you read the latest NZBusiness Magazine? If you are looking at upgrading your accounting software then this article is a must read. Check out page 22 in the magazine or CLICK HERE to read it online.

Contact GoFi8ure, your accounting software specialists to get your accounting software set up and sorted without any stress.

 

 

 

 

 

 

 

 

4 Reasons Why You Can Benefit From Using Accounting Software

Whether you are starting up or already running a small business, you may avoid using software. This could be due to the cost, because you think it’s confusing, or you use an Accountant for tax and think software is unnecessary. But, what you may not know is accounting software can help you streamline your business and increase your bottom line. It helps ease the burden of financial administration, allowing you to focus on your business passion instead!

Here are the top 4 reasons why your business can benefit from accounting software.

1. Keep your Finger on the Pulse of your Business
How often do you review your financial information? By only looking at your financial information once a month or at GST time, you could miss seeing valuable information in a timely manner which may affect your business decisions.

2. Bring your Business to the Next Level
Are you still generating quotes using Microsoft Word templates? With accounting software you can create and send professional looking quotes to potential customers and when accepted convert the quote to an invoice then match the payment to the related invoice when payment arrives. This eliminates replicating data entry and reduces admin time.

3. Have Accurate Records for Tax Preparation
At tax time do you find yourself looking for your shoe-box full of receipts, trying to remember which expenses were business related? By keeping your records within an accounting system the end of year process can be less of a burden. You capture the correct information throughout the year and eliminate the need for the accountant to have to enter your data records into their tax system.

4. Control your Cash flow
Do you know how much money you can expect and what bills you will have to pay over the next 30 to 90 days? Every business needs to know what is coming in versus what is going out. Accounting software can provide you with cashflow reports, budgets and up to date profit and loss reports to ensure you can manage one of your businesses most valuable assets – cash!

Would you like to find out how GoFi8ure can help move your accounts onto life changing accounting software? Email us on enquiries@gofi8ure.co.nz or call us on 0800 463 488 for your complimentary assessment today.

What is the difference between Administrators and Certified Bookkeepers?

During their early days, many small businesses have no choice but to combine many core functions together, including bookkeeping and administration tasks. As a business continues to grow, at some point, as a business owner you may need to separate the administrative and accounting functions. This will ensure that your business can run smoothly and more efficiently. Knowing the difference between bookkeeping and administration tasks will help you effectively create two roles that complement each other. So how do you identify when you need to hire either a Bookkeeper or an Administrator?

When should you hire an Administrator?

  • You are doing administration tasks when your time could be more productive elsewhere.
  • Your office needs someone to manage and maintain the constant flow of paperwork.
  • When you need someone to manage your diary and appointments.

What makes an amazing administrator is not necessarily how many pieces of office equipment they can operate. The value they bring to a business lies in how they support the business owner and reduce your administration workload. They take care of the background jobs that need to be done so you can focus your time on the valuable relationships with your clients and move your business forward, vital actions required to generate future growth.

When should you get a Bookkeeper?

  • You are spending more time on financial record keeping that working on your business.
  • You are not confident that your record keeping is as accurate as it should be.
  • GST return filing is often actioned late or at the very last minute.
  • There is no budget in place or minimal understanding of current and future cash flow.
  • Payroll has become stressful and more time consuming.
  • You cannot clearly answer the following:
  • What bills do I owe and who owes me?
  • Did I make enough money this month?
  • Am I meeting my filing deadlines?
  • How do I accurately process payroll?

You may have discovered that by owning your own business you spend more time than you thought you would trying to keep track of the financial paper trail, instead of doing what you enjoy. Wouldn’t you rather get back to doing what you enjoy, use your strengths and skill set to build your business, rather than having to worry about administration and bookkeeping?

As a business owner you may not have the time, energy or skills required, so if you are spending time looking at your books and wondering if they are accurate or correct, it may be time to bring in the expert. With a certified Bookkeeper on your side, your business can be more profitable, more efficient, and more competitive. You will get accurate reports that reflect your business activities, enabling you to make informed decisions that will keep your business moving forward. All those deadlines – they are met without you giving them a second thought.

Now that you know the difference make sure you don’t hire an Administrator to do a Bookkeepers job! Talk to GoFi8ure about our bookkeeping and accounting services, tailored to meet your business needs.

You did not get into business to be a Bookkeeper but we did, so talk to us about outsourcing your bookkeeping by emailing us on enquiries@gofi8ure.co.nz ​

Outsourcing – boost productivity and progress without the long term expense

Many business owners have fantastic talents which is part of the reason why they went into business. With these talents, sometimes comes over-confidence where they try to do everything themselves, and either experience processes being missed, a stall in the business or even worse, burn out.

Quite often, it is at this point that business owners think they will need to employ staff to help. This does not always have to be the case; outsourcing can be the best thing for your business, you just need to find the right company to work with.

It is true that outsourcing can save money, but that is not the only (or even the most important) reason to do it. Outsourcing also allows businesses to enhance services, quality of work, and productivity, while allowing them to focus on growth. It involves hiring an external company which has the expertise you may not have but that you need to be able to move forward and be more productive. It is a powerful option, as you can outsource only what you need, and for as long as you need – which means not having the expense of hiring permanent staff, or incurring costs to up-skill.

GoFi8ure are a great solution to those who needs help with their accounts. We are a one stop shop for all your accounting needs from monthly routine bookkeeping to preparing and filing your Tax Returns. To find out how GoFi8ure can help your business, email us on enquiries@gofi8ure.co.nz or contact us on 0800 463 488.

New Year, New skill-set

Enhance your business skills and knowledge with continuing education offerings through GoFi8ure.

Training and up-skilling is essential to the achievements of a business to ensure ongoing development and improvement. Not only for your staff, but for you, the business owner. Even if you have been in business for many years, investing in yourself and your business should be a vital part of your strategic plan.

“You don’t know, what you don’t know, until you don’t know that you don’t know it”. Despite having years of business experience behind you, many business environments are not stagnant. Developing technologies are constantly causing disruption and opportunity. Changes constantly occur with new legislation and business obligations, software changes, or better business processes becoming available. As a business owner you need to make sure you are up to date with everything you need to know. That is when training and up-skilling comes into play.

The benefits can be life-changing too, reaching far beyond simply relieving boredom or passing the time. Studies have shown adult learning can boost confidence, well-being and feelings of fulfilment and happiness, providing business owners (and their staff) with a new zest for life – that is before we even get to the potential social, physical and professional benefits. So jump right in, the water’s lovely, and make 2017 the year you up-skill and learn more.

What are some of the other benefits to learning and up-skilling?

1. Enhance operational efficiency
Training yourself and your employees can increase efficiency and productivity in completing daily work tasks. Training can also help your organisation achieve greater consistency in process adherence, making it easier to project outcomes and meet organisational goals and targets.

2. Increase business value
Effective training can be used to “up-skill” or “multi-skill” not only yourself, but also your employees. Up-skilling involves extending one’s knowledge of an existing skill, providing more experts within a subject area. This helps you make better decisions for your business. Being better informed is part of your essential business development requirement.

3. Increase business quality
Aside from increased efficiency, both you and your employees will also improve the quality of the work produced with relevant training. It is proven that untrained employees turn out work of lesser value, which in turn lowers the value of your business. Training is essential to higher production value.

Interested in knowing more about how you and your team can up-skill in the accounting / finance side of your business? Then you need to get in touch with Education and Xero award winner GoFi8ure. We have different training packages available to suit both you as a business owner and your employees. We look forward to helping your business grow – enquiries@gofi8ure.co.nz or visit www.sayitlikeitis.co.nz