Real Time Accounting (Cloud Accounting)
(Why do Accountants no longer want to be historians?)
Here is the typical accountant-client relationship scenario:
Every year after June 30, each business undertakes a painstaking process of finalising their MYOB or QuickBooks file (or even manual records). This includes the preparation the final bank reconciliations, processing the year end payroll and gathering all the information of events that occurred in the previous 12 months. This rarely happens in July. Some businesses might have made the appointment to visit their Accountant before Christmas, many however usually don't bother until after February or leave it as late as April as the Tax Return lodgement deadline is fast approaching. The Accountant then takes the information provided and prepares the Accounts and Tax Returns. We then like to discuss the financial performance or tax obligations with the business stakeholders. By this stage, nearly 9 months have passed since the year end. Accountants are reporting on historical events. In most cases, the horse has well and truly bolted before the gates have closed.
- We can look at your accounts & finances monthly, weekly or even daily?
- We can monitor your cash situation, debtors & creditors on a regular & timely basis?
- We can develop Profit Plans based on up to date data and we can monitor your profit plan with you?
- We are able to provide you with a "Chief Financial Officer" role?
- We remove the barriers for you to discuss (almost) anything, without fear of receiving a surprise invoice. You can get the right advice at the right time?
- You are able to view up to date accounts from anywhere in the world, from any computer, home, office or on the road using your smartphone at any time?
- You never have to worry about your existing accounting software being out of date & having to upgrade every year (e.g.: when tax rates change every July), knowing your software is always up to date (and provided by us)?
- We are able to close the gate before that horse has had an inkling to bolt?
Would this be of some value to you?
Thanks to new technology, we can provide all this value with "Real Time Accounting". So, what is Real Time Accounting? Quite simply, it is a process where all of your data is constantly recorded and updated in real time. We can monitor your current situation as it happens so we can shift your business focus to what will happen in the future, not what has happened the past.
So, to answer the question. Why do we no longer want to be historians? Well, as Business Accountants, we know there are huge benefits to you by looking at and working on the future of your business, rather than focusing on years past. To successfully grow a business and personal wealth, you need to plan ahead. Sure, what happened previously gives us a good foundation, experience and guidance but with any journey, you need to know which direction you want to go and what to expect when you get there! Let us help you plan your journey with you.
We have developed various packages to help you. These will be tailored to suit your business objectives and needs. Please call us for a discussion (no obligation).