Cloud accounting...what next?

So, you’re getting to grips with cloud accounting and keeping your records on Xero, QBO, Sage Cloud... and seeing the benefits this brings – cloud accounting...what next?

Which part of your process can you automate next to save more time and enhance your record keeping and management information even further?

In the first of a series of articles for cloud accounting...what next? We introduce our AG App Stack. This shows examples of some of the apps available and will be further developed and more apps added as we find the best ones to recommend to you:

• Invoice processing can be automated with Auto Entry, Hubdoc and Receipt Bank. These systems capture, analyse and posts invoices, receipts and statements into your accounting system. Documents can be uploaded using a mobile device, desktop, email, or scanner and then you can access all your documents in one centralised, digital system of record. Prices vary across the systems and can be tiered pricing, price per item and with Hubdoc from 18 March 2020, will be included in Starter, Standard and Premium Xero plans free. Once documents are uploaded to Hubdoc, the key data is automatically extracted and synced to Xero as accurately coded transactions. Xero then matches these transactions to the bank feed for one-click reconciliation. All documents are searchable and easy to access from anywhere in the world.
• Get paid quicker by adding a payment service to your invoices. Systems such as Stripe allow you to receive online payments from the full range or debit and credit cards. Stripe integrates with Xero and a number of other systems and gives your customers a quick and easy way to pay you.
• If you are using Xero, QBO or Sage and are looking to improve the quality of your data, be more efficient or benefit from hearing about new developments or tips and tricks then an AG System Health Check is the thing for you. We review your accounting system and prepare a report detailing areas for consideration and suggestions to improve the records and aide the business management.

If we've got you thinking cloud accounting...what next? Please speak to your usual Albert Goodman contact for more details on any of the above and more.