Let’s face it, there are few of us who really enjoy sorting out our finances. But for most businesses, sound finances are key to ensuring cashflow remains positive, and profits are actually achieved and banked.
So, there’s often a disconnect between what needs to be done, and what actually gets done. Many of us are poor at organising our finances, and at understanding the true financial position of our businesses. For big companies, the finance function becomes a separate department, with accountants and bookkeepers on the staff.
For smaller businesses, it is often the case that such functions fall to those with few skills in these vital areas, and even less interest in them! That’s where a new range of cloud-based solutions such as Xero are now coming to the rescue.
Designed to be flexible in use, and capable of instant information sharing, they make handling finances easier for all. For the first time, it is easy to split out the tasks required to complete essential financial management, and get them completed in a timely fashion.
At Timewise VA, we use Xero to carry out bookkeeping services for a range of clients. That means we can take care of the basic functions such as registering and recording expenses, sales invoices and supplier invoices. Having used Xero for some time, across a range of different businesses, we are familiar with the regular updates and enhancements that are made to Xero; as with most cloud-based systems, there are frequent improvements made to the software.
Using Xero is very flexible. We can take our clients’ information in a variety of formats, from basic scanned paper receipts, to ready uploaded information in electronic form in Dropbox or other. Your accountant can log in directly, for the preparation of annual and quarterly management accounts, and to deliver annual returns as required by Companies House.
For clients, this flexibility has a number of benefits. First, you need only pay for the assistant you require – you do the elements of the required work yourself, and ask us to complete the rest. Alternatively, if you are the sort of person who realises financial documentation is not your strong point, then you can ask Timewise VA to complete the whole bookkeeping role for you. You simply pay for the time taken to carry out the function – and you’ll often find the cost is more than outweighed by your additional productivity.
What could you do with the time you save, if you don’t have to deal with your financial paperwork? So, what are you waiting for? Why not give Xero a trial. Ask us to help you get set up. As a cloud-based system, Xero does not require you to download or purchase expensive, complex software – the web-based system will automatically work on any computer, whatever your operating system, Apple or PC. Call Timewise VA today, and get your financial paperwork in order!