13 Jun Makes Sense offers a choice of Xero or FreeAgent
Makes Sense Accountants are one of the few cloud accounting companies that offer a choice of accounting software having added Xero to join FreeAgent in our recommended software options.
What is cloud accounting system?
Cloud Based accounting means that you have no software or hardware requirements you simply access your accounting via the internet. Everything is hosted elsewhere.
What are the benefits of having cloud based accounting system?
You have no software or hardware requirements. All you need is a phone, tablet or laptop and a wifi signal or 3G or 4G. You can therefore access and do tasks anywhere and at any time. You don’t receive dreaded updates or discs that require you to run update processes to your software.
You don’t have to worry about your data security or backing it up every day or hour as this is taken care of for you by Xero or Free Agent.
What are the main advantages of using cloud based accounting system?
Xero and FreeAgent offer various excellent add ons or features that mean:
- You can invoice & collect payments on the go. If you are at a client and want to issue a quote, invoice or collect a payment this can all be done on your phone and the processes reflected straight away in your accounts. This means people who historically have to do these tasks when they get home or at the weekend no longer have to as it’s already been done. It can also improve your cashflow and mean you’re not then spending time chasing debts.
- Auto upload of bank statements. Software is compatible with major bank online systems. System can recognise and allocate transactions automatically.
- Real time information. Both Xero and FreeAgent have easy to follow dashboards or reporting features that means all key info is readily available. You know what needs paying and when or who needs to pay you and therefore what your cashflow looks like. This means you can ensure you stay on the right side of suppliers and most importantly the taxman.
- Scan expense receipts. As soon you obtain an expense receipt you scan it into your system meaning that it can then be thrown away. No more worrying about lost receipts or keeping them in a box for 6 years.
- You can take advantage of spare times in your day to clear admin.
Xero and FreeAgent are simple to use and aim to make your life easier. The information they provide enable you to run your business more efficiently.
Is Xero or FreeAgent designed for me?
Xero and FreeAgent can be used if you are self-employed, a trades person, a limited company owner or a contractor or freelancer.
Free Agent was initially designed with contractors and freelancers in mind and is therefore an excellent choice for them.
Xero was more geared towards small or medium sized businesses. However, both now are compatible for both.
How can Makes Sense help you?
At Makes Sense we are happy to work with either and can run through the features in more detail or demo both products so you can decide.
We will offer unlimited accountancy support and can offer as much or as little bookkeeping as you need. This means we can keep our fees down.
We help ensure you benefit from all the tax incentives available for running your own business i.e. employers NIC free rate, FLAT Rate VAT scheme, expenses etc.
For a free, no obligation consultation to discuss your options please call Tim Hammond, Director of Sales on 07920 141762.