Cloud Based Accounting Solutions
With the development of the Internet, the way business is conducted has changed. Now you can conduct your business, do your shopping (buy or sell your goods), travel and entertain yourself on various internet or online applications available. New modules of businesses have also popped up around the internet: for instance the largest Hotel Group in the world now does not own any properties – Airbnb; and the largest taxi companies in the world have no fleet of vehicles – Uber or Grab. For financial Management, online accounting systems are termed Cloud Systems. The following are what a Cloud Accounting system can do for you.
Traditionally, an accounting program would be on a desktop or a server located in an office and you, your manager, finance team member or external accountant would only be able to access it when you were in a specific location that had a connection. With cloud accounting, the accounting package is stored on the internet (via the cloud), and can be logged into via a browser, thus you are not tied to any one location. The opportunity to easily manage finances in real time, anytime and anywhere online is proving to be a hit amongst business owners.
Cloud accounting has completely changed the way in which businesses and accountants operate. The access to cloud accounting allows you, your accountant and trusted business adviser to stay connected with every aspect of your business. This is now done through the use of applications that connect the accounting platform to other business functions, such as inventory management, accounts payable/receivable and job management.
For businesses in PNG, this means in addition to doing your accounts with support from advisors (like ourselves), you can link up with your bank to get bank feeds (bank statements), lodge all your returns with the IPA and the IRC all on the internet. PNG’s Geographical topography is rugged and with poor transport and communication infrastructure network, it is simply too expensive to conduct business in the country. Frequent natural calamities and civil unrest complete this dire situation. Online systems do not require people travelling to meet, do your work or lodge your documents. Such activities can now be done online. Your records are also safe on cloud.
A large number of small businesses are already using accounting software like MYOB, QuickBooks, Xero, etc. These systems are desktop based and can be converted to online (cloud) systems. The main features of the systems whether online or desktop based are still the same. But Cloud accounting have the following added advantages:Safe from destruction by fire, natural calamities or civil unrest (data stored online);
- Ability to work from anywhere
- Access to other online systems
- Connection to an Advisor or Accountant who can either do your work or advise from other locations
- access to real-time information and Improved opportunities to maximize growth opportunities
- It is cheap
One product of the Gea Management Consulting group is to train business houses to use MYOB, Xero or QuickBooks online. This also includes ongoing advice and support from start to completion of preparing financial reports, income tax returns and other returns and lodging these in accordance with statutory regulations. We can assist you in doing this work and lodgment of documents by yourselves; and all online. All you need is access to the Internet and have a VISA card and these you all already have. So why wait?
- Details of services which are cloud based are included in the following sections General Accounting and Taxation services
- General MYOB Training
- General Xero Training
- NGO and Project focused Cloud Accounting Courses
- Tailored Courses for Specific Needs