Cloud accounting review, cloud accounting products, QuickBooks online, Xero, Kashoo, Wave,
Cloud accounting review, cloud accounting, QuickBooks online, Xero, Kashoo, Wave,
The advancement of technology has been greatly helping business to do more in less time in almost every field. In the world of numbers such as Numetrica.city, the technology has brought us cloud based accounting or cloud accounting. The cloud based accounting software connects to your bank and credit card accounts and retrieves your transactions in a second. So our job is to categorize the transaction adequately under appropriate accounts and prepare bank reconciliations.
Another cool feature of cloud base accounting is this: most of them have created an app that can take a picture of your receipt, extract the date, data, even taxes and record them right away in your file! How cool and advanced is that?! Those electronic receipts are as good as printed them according to Canada Revenue Agency.
Another cool feature is the adaptability to different apps, who knew accounting could be this much fun.
In this document, I’ll talk about a few cloud based accounting software, such as Xero, Queckbooks, Wave, freshbooks, Sage and Kashoo.
Many of our clients are using cloud accounting; we now have more cloud accounting clients than regular desktop accounting clients.
We are certified … with all of them except MYOB cloud base accounting which ironically only operates in Australia and New Zealand (I was told by their account manager)
QuickBooks is one of the most user friendly software; I remember that the first software that I used and loved in fact was Simply Accounting which is not user friendly. What it means is that you have to be an accountant to use it properly; you can’t edit a transaction and have to use an adjusting entry and so on. QuickBooks made it simple to use, it allows you to click on the number or accounts and see the details. I know this is exciting … I can see you are yawning … Anyhow, the online version is fantastic and has the same friendly features.
Wave is a Canadian product that I actually use for my operation. I love this software and it is free!! I spoke with one of the account managers at wave and she said it is free however; the company generates revenue through ads, payroll and technical assistance which is amazing. So anyone out there wants to learn about cloud accounting use wave.
XERO (the beautiful software)
The actually put me through a certification process in order to let me play around with it. That is good and bad, I mean with all due respect I have completed a B.comm with hours in accounting and have an accounting designation L Xero is smart and proactive and have a few cool features that makes life much easier for people who love to live online.
Overall, Xero is an extremely solid cloud accounting option for practically any small business or tech startup. It’s an especially good option if you’re a real techy and want to integrate a bunch of different apps into it depending on what your needs may be.
Another Canadian company is Kashoo, I haven’t used it personally and yet to see a client however, I hope someone with Kashoo steps forward.
Another Canadian cloud based software developer from Toronto. What I don’t like about Freshbooks is that it doesn’t give you a balance sheet. For that reason, it can be used to generate income statements. Some of my clients use Freshbooks to generate invoices and collect fees.
Choose one and stick with it. It will make you more efficient and effective if you appreciate and use numbers and reports. Read my other blog concerning the benefits.
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