Online accounting, is the application of online and internet technologies to the business accounting function.
Traditionally accounting was done through standalone systems like excel or specialised bookkeeping software and considered a necessary evil by businesses. On the other hand, online accounting is designed with entrepreneurs in mind rather than accountants and has the potential to change the way businesses operate. Its main focus is to provide the key people associated with the business access to live financial information and thereby support informed decision making.
Online accounting systems such as Xero, Kashflow, Freshbooks, etc. are low cost subscription-based services, usually payable monthly. As the software company handles the setup, security and maintenance of the system, online software tends to be much cheaper and more reliable than traditional software. For the average business owner this means that there is no costly installation, upgrades, exchange of data files, back-ups or disaster recovery to worry about.
What are the benefits for my business?
- Simultaneous multi-user access
- Real-time updates to accounts through automated bank feeds
- Secure access from multiple devices – anytime, anywhere updates
- Fixed monthly fees per company not user
- Free system upgrades
- Live data back up
- Extensive training and 24/7 support
- More reliable, flexible and user-friendly
For more information on Online Accounting and the benefits it can offer your business, please feel free to contact Gabriela O’Mahony of Aperio Finance on +353 (0)21 488 8975.
