Online accounting platforms are meant to relieve some of the anxiety of running a business. But often using the wrong platform means you’re left pulling your hair out in frustration or plagued with uncertainty about the future. At Beyond, we want all our clients to feel the ease and assurance that good accounting provides. That’s why we recommend switching to a platform like QuickBooks Online (QBO) or Xero that works with you, not against you, and provides all the data you need right at your fingertips.
Switching accounting platforms may seem stressful. If you’re still on the fence, ask yourself these questions:
Are you chained to your desktop?
After the year 2020, we all understand how vital flexible working is for our growing businesses. There’s nothing more inflexible than a desktop accounting platform. Especially in the construction business, you don’t want to have to rush to your desktop every time you want to check the expenses of a project or have a look at your cash flow.
Switching to a cloud-based accounting platform will make your life infinitely easier, and that’s why we recommend it to all our clients at Beyond.
Some of our favorite benefits of switching to cloud-based accounting are:
- Access to your accounts and key figures anytime, anywhere
- Sharing and collaborating on data with partners, accountants, or advisers quicker and easier
- Greater work-life balance
- No more time-consuming updates or backups – with the cloud, they happen automatically
- Data encryption means greater security for your confidential information
After trying cloud accounting once, you’ll never want to go back to the desktop.
Are you missing out on key data?
When picking an accounting platform, consider what data is most important to the success of your business. Outdated or inferior platforms won’t have the report running capability that helps you understand what your numbers are really saying.
For example, job costing and expense tracking is vital to a construction business. An accounting platform like QBO has an excellent project costing feature built into the core product.
Xero, on the other hand, has a more straightforward approach than QBO. This makes it ideal for a smaller business that doesn’t want to be overwhelmed with complex features and is most concerned with tracking profitability.
We love both QBO and Xero here at Beyond. Deciding between the two often comes down to your specific needs and industry. Typically, a construction business with job costing needs is more suited to QBO, while someone in the professional services industry would prefer Xero.
Is your accounting platform compatible with your business tech?
In today’s world, you’re not short for apps, systems, and software all designed to make doing business easier. But without compatibility, all this tech will only stand to give you a headache.
When choosing an accounting platform, check to make sure that it integrates well with the other systems and software you already use, like:
- Proposal software
- CRM software
- Payroll software
- Bank accounts
- And others
We love both Xero and QBO for how compatible they are with many apps. From invoicing to time tracking and everything in between, you can integrate the tech you already use or find new, more efficient apps to run your business even better. See a list of all the apps available on QBO here and on Xero here.
Are you feeling frustrated or overwhelmed by your accounts?
Running a business means you don’t have any time to waste. But inefficient tech can make handling your accounting a massive headache. If you’re feeling frustrated or overwhelmed by even the thought of looking at your books, then it’s time for a switch. A new program means a clean slate and a chance to do things right.
If you’re thinking about switching and your tax filing is on a calendar year, the ideal time to switch is in January. This means you can start a new fiscal year fresh on your new platform. At Beyond, we specialize in starting new accounting files for our clients and providing training so your numbers not only start accurate but that they also stay accurate. You deserve to have peace of mind when it comes to the state of your business, and that starts with your accounting.
To learn more about how starting a new accounting file can change your business for the better, check out this blog.