Cloud accounting has changed the way small businesses manage their financial records and has proved invaluable for those that have taken the plunge. Navarra Kovac are experts in the implementation of cloud accounting packages including Xero and MYOB.
What is cloud accounting?
In the past, most businesses have kept track of the financial information on stand-alone software packages installed on a desktop computer and required tedious amounts of time to manually process transaction data.
Cloud accounting involves the use of external servers to host this data which if often ‘fed’ into the systems automatically, saving invaluable amounts of time. These packages also often have the ability to integrate with a number of third-party ‘apps’ or data-feeds (including banks, Paypal and numerous e-commerce solutions) making it perfect for small business use.
Cloud accounting provides numerous benefits for those that adopt the technology. Not only do these systems provide real time information about your business, but they provide unlimited mobility, allowing people (including your accountant!) to access this information from anywhere in the world, using almost any device.
Who owns the data?
That’s simple – you do!
Here at Navarra Kovac, we will always insist that you ‘own’ the subscription to the cloud accounting package ensuring that you will always have total control of the data even if you were to move to another accountant.
Which cloud accounting solution is right for my business?
We do not believe that there is one single cloud accounting solution that is right for all of our clients. We have purposefully avoided exclusive arrangements with software providers nor do we accept commissions for signing our clients up, ensuring that we remain impartial to any decision.
The two most popular services in Australia are Xero and MYOB and Navarra Kovac are experts in both of these products. We work closely with our clients to understand their business needs and determine the most suitable solution that meets their needs.
How can Navarra Kovac help?
We can provide assistance in the following ways:
- Consultation services to understand the right solution for your business.
- Initial set up including the establishment of a chart of accounts and bank feed(s).
- Data migration.
- Payroll setup.
- Training.
If you would like to talk more about cloud accounting, please contact one of our Directors to discuss.
Navarra Kovac Chartered Accountants 