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The Cloud

Why Keep Your Data in the Cloud ?

 

Cloud computing

Cloud computing is fast moving from a vague notion to an everyday reality for small companies all around the world.A 2016 survey of small business owners discovered that 52 percent had already embraced some sort of cloud-based data storagenonetheless, a general lack of comprehension concerning the logistics and benefits of cloud computing has created others a little more resistant.The reality is, you will find several quite practical advantages to transferring your information to the cloud, such as decreasing operating costs and boosting efficiency. Here are some additional methods cloud computing can assist your business run much better.

Easy file-sharing with Group members & Customers

Some workers work at home, while some are on the street serving customers and creating revenue. According to email to discuss and collaborate on significant files can make it tricky to track documents, consolidate revisions and find the ideal information to your customer in time.In addition, it’s easy to share files with customers, monitor work in backup and progress your documents to avoid data loss.

Save money on Maintenance and Hardware
Setting-up the server, apparatus, networks, facilities and other geardeployment and setuproutine maintenance of backup servers, storage, network links and software upgrades. Cloud-based storage, on the other hand, is controlled and maintained by a dedicated group of seasoned professionals that concentrate on care and cyber safety so that your small business does not need to.Cloud based solutions can also be scalable. Providers provide solutions for companies of all sizes and shapes, with costs and features tailored to match your particular requirements and price range.Not just do cloud suppliers implement the most recent cyber-security protection, they also provide your organization safeguards to avoid data loss in the event of an unforeseen catastrophe.Cloud computing giants such as Google can manage to have several data centres, each with many web connections along with the capability to copy data at each place. They have generators to manage power outages and backup systems which assist servers keep running even when certain parts fail.Think about how your company would be affected by a local power outage which rendered your info inaccessible? Loss of sales and customer confidence would probably be significant. You would be left to rely on your own internal IT group to reboot your system and retrieve your documents. This would probably be expensive and time-consuming, as well as stressful.Cloud suppliers have the tools and experience small companies simply can not otherwise access in regards to data protection and storage. Tapping in their strength can help your company stay agile, develop quicker, and also compete with larger players.

As a Xero Partner practice, we’ve got the abilities and expertise to help you with implementation and training, in addition to provide recommendations for further applications that may enhance your business processes.If you would like more info, please contact me directly.

Paddy Gahan Gahan.ie Xero Accountants

Keeping your business books has just got easier.

Keeping your business books has just got easier.

Every business owner hates bookkeeping and paperwork.

Unfortunately it has to be done. And it has to be done in a prescribed format… otherwise the Tax Man will be on your back.

It’s also difficult. That’s why there are bookkeeping exams. That’s why there are professional institutes like the Institute of Certified Bookkeepers.

I guess you’d much rather be out there making money from your business than doing the books. And because everyone hates bookkeeping, most people end up doing it in the evening or at weekends. Yet, shouldn’t evenings and weekends be spent playing with the kids, spending time with your friends and loved ones, or out on the golf course?

Another option
A far better option is to employ a bookkeeper to get the job done properly. Unfortunately full time qualified bookkeepers typically cost €22,000, together with all the other associated costs and hassles of employing someone.

But that option is too expensive for most small businesses.

The solution is here
Technology has come to our rescue. It’s called cloud accounting.

Just like online banking has changed banking forever (it’s easier to transfer money in minutes, check your bank balance at any time rather than waiting for that monthly statement to arrive in the post and generally keep on top of your finances), cloud accounting has changed accounting systems.

The old-fashioned way of bookkeeping using manual ledgers, spreadsheets and desktop accounting systems will soon be a thing of the past.

Just like online banking, a modern cloud accounting system will save you a significant amount of time by automating many of the data entry processes that used to take up so much of your precious time and giving you instant access to your numbers.

If you want to see about setting up a cloud accounting system why not five me a call at 01 6684411
or email me at info@gahan.ie

Paddy Gahan Gahan.ie Xero Cloud Accountants

No 1 reason businesses fail and how to avoid it !!

The No. 1 reason businesses fail… and how you can avoid it

Don’t you just hate the old cliché, cash is king. I do.

But the fact is, running out of cash is the number one reason businesses fail. Despite the fact that very often they are profitable. But profit and cash is not the same thing.

So how do you protect yourself?
There are really two critical things you need to get right:
1. Keeping your finger on the pulse of your business, and
2. Collecting money fast.

So let’s look at each of those and how we can use modern technology to our advantage.

Your future is at stake
Better financial information helps you to make better business decisions. But it’s more important than that. We’ve seen many businesses fail through lack of financial information. Very often businesses run out of cash. They thought they had a profitable business, but suddenly they can’t meet the payroll at the end of the month.

Having the right numbers at your fingertips will give you an early warning system if things are not going so well.

What you need is an accounting system that gives you 24/7 access to up-to-date financial information and reports. And that’s where cloud-based software comes in. With a modern cloud accounting system you can access your financial data in real time from any device with an Internet connection.

Quicker cash collection
A modern cloud accounting system gives you fast, simple customised sales invoicing that will make your life simpler. And the facility for emailing of invoices, with the option to attach a statement at the same time makes it so easy to manage your sales and get paid quicker.

Even better, it allows you to embody payment methods into your invoicing. For example, click and pay to drive quick collection of your debts. It makes it so much easier for you to get paid, reducing bad debts and slow payers and putting more cash in your bank account.

You can also chase debtors whilst you’re on the go.

If you want to minimize the risk of running out of cash moving to a cloud accounting system is an important step to take.

Paddy Gahan Gahan.ie Xero Cloud Accountants

Great news You no longer need an Accountant !!

Great news

you no longer need an accountant

Recent studies by Oxford University and Deloitte (2015) suggest that about
96% of what accounting firms currently do will – in the not-too-distant future – become automated.
96%!
Surely that means the accountant is soon to be redundant.

Why is that?

In recent years advances in technology are automating much of the data processing. Your bank
transactions (income and expenses) can now be automatically entered into your financial records with greater accuracy. Invoices can now be scanned (or photographed with your smart phone) and put in the right place.
Not only does this save you a significant amount of time. It’s accurate.
Every quarter you can file your VAT returns at the touch of a button.
At the end of the year, one click and your end of year financial statements are almost done.

So do you really need an accountant any more?

What does this really mean for you?

The technology is called cloud accounting
. It is a much better way to control your business finances. It gives you 24/7 access to up-to-date financial information and reports and it saves you a very significant amount of time.

But will it really make the accountant redundant?
Probably not.

Certainly a cloud accounting system will make your life much easier.
It also makes the accountants life much easier too. And that means you can expect slightly reduced accountancy fees when you operate your business on a cloud accounting system.
What it really means is accountants need to change. They will no longer be paid for just adding up the numbers. Technology will do that. Instead they need to spend more time, using their
skills with numbers, working closer with businesses and helping them to interpret and improve
their numbers.
Some accountants will make that change. Some won’t. Either way, it’s a good thing for small business owners.

Our recommended cloud accounting software is Xero. Surely 800,000 users worldwide can’t be wrong.

IF YOU WOULD TO FIND OUT MORE AND GET A DEMO PLEASE CALL ME AT 01 6684411
PADDY GAHAN XERO ACCOUNTANT

Bookkeeping has just got easier

Keeping your business books has just got easier 

BOOKKEEPING HAS JUST GOT EASIER 

Every business owner hates bookkeeping and paperwork. 
 
Unfortunately it has to be done.  And it has to be done in a prescribed format… otherwise the Tax Man will be on your back.   
 
It’s also difficult.  That’s why there are bookkeeping exams.  That’s why there are professional institutes like the Institute of Certified Bookkeepers. 
 
I guess you’d much rather be out there making money from your business than doing the books. And because everyone hates bookkeeping, most people end up doing it in the evening or at weekends.  Yet, shouldn’t evenings and weekends be spent playing with the kids, spending time with your friends and loved ones, or out on the golf course? 
 
Another option 
A far better option is to employ a bookkeeper to get the job done properly.  Unfortunately full time qualified bookkeepers typically cost 22,000, together with all the other associated costs and hassles of employing someone. 
 
But that option is too expensive for most small businesses. 
 
The solution is here 
Technology has come to our rescue.  It’s called cloud accounting. 
 
Just like online banking has changed banking forever (it’s easier to transfer money in minutes, check your bank balance at any time rather than waiting for that monthly statement to arrive in the post and generally keep on top of your finances), cloud accounting has changed accounting systems. 
 
The old-fashioned way of bookkeeping using manual ledgers, spreadsheets and desktop accounting systems will soon be a thing of the past. 
 
Just like online banking, a modern cloud accounting system will save you a significant amount of time by automating many of the data entry processes that used to take up so much of your precious time and giving you instant access to your numbers.  And that’s just two of the many benefits. 

Our recommended cloud accounting software is Xero. Surely 800,000 users worldwide can’t be
wrong.

IF YOU WOULD TO FIND OUT MORE AND GET A DEMO PLEASE CALL ME AT 01 6684411

PADDY GAHAN XERO ACCOUNTANT
 

Critical Business Information in Real Time

Critical business information in real time

Every successful business has its finger on the pulse.

You need to know the key numbers. Not the numbers in last year’s accounts; they’re out of date. Redundant.

You need today’s numbers.

And that’s where your cloud accounting system comes in. If you don’t have a cloud accounting system this blog will explain the benefits and how to get started.

There are essentially just 4 types of accounting system:

Type 1: The Manual System

A manual system is cheap; you only have to buy a book. But that’s a false economy. Manual systems simply take too long. And your time is too valuable. It also takes the accountant more time to produce accounts so you end up with bigger accountancy fees. Manual systems also do not provide that all-important management information for making great business decisions.

Type 2: The Spreadsheet

Excel and other spreadsheet-based systems are also cheap. And whilst you can automate some processes (e.g. adding up columns), they take time to set up, you need advanced Excel skills to produce management reports and you can waste hours changing the spreadsheet as your business grows and evolves.

Type 3: The Desktop system

Then there is the old-fashioned desktop system. Whilst these are far better than manual and spreadsheet-based accounting systems they come with a host of hidden costs. Yes, the software can be relatively cheap. But there is a huge hidden cost of customisation, implementation, maintaining your hardware to meet the demands of changing software, dealing with (often costly and compulsory) software upgrades, security, scheduling back up routines and restoring data when things go wrong.

Type 4: The Cloud Accounting System

In contrast a modern cloud accounting system gives you the following benefits:
 It saves you a very significant amount of time,
 Gives you 24/7 access to up-to-date financial information and reports (you can use cloud-based software from any device with an internet connection),
 You can sleep at night knowing your sensitive financial data is always secure and backed-up automatically,
 No system downtime because all software upgrades are automatically installed. This worry-free maintenance saves you time and hassle,
 It reduces your accountancy fees because it makes it easier for your accountant to produce end of year accounts, and
 Since your accountant can access your data 24/7 you get more value from an accountant – they will help you run and grow your business rather than just adding up the numbers.

In short, a cloud accounting system will make your life so much easier and give you the critical numbers for your business in real time.

Now the bad news…

Your first problem is deciding which cloud accounting system to adopt for your business. There are a myriad of different systems. They are all different. Some are better than others. Some suit different types of business. And getting the wrong solutions will cause you a big headache. Assessing all of the options is time-consuming.

Then, once you’ve settled on the best system for you and your business you have to set it up.

Unless you’re familiar with setting up accounting systems this typically takes a full day or more. Not only do you have to enter all the key details of your business (accounting year end date, VAT registration number and so on) you also need to set up you chart of accounts (that’s the specific types of sales, income, expenses, assets and liabilities unique to your business). And once that’s done you need to transfer any opening balances.

Whilst you can do that yourself, your time is precious and valuable. So we recommend you talk to your accountant. Every good accountant will be able to set up your cloud accounting software.

We specialise in cloud accounting, so if your accountant doesn’t offer this service we can help. And you don’t even need to be in the same part of the Ireland… we can set it up online for you.

TO FIND OUT HOW A CLOUD ACCOUNTING SYSTEM CAN TRANSFORM YOUR BUSINESS
CALL ME NOW AT 01 6684411

Paddy Gahan Xero Accountant

How Can I go paperless ??

Transform your small business with Receipt Bank.

Are you a small business owner, sole trader or professional. Receipt Bank extracts the information from your receipts and invoices quickly, accurately and efficiently.

With Receipt Bank’s superb integration, your data can be sent easily into your Xero account.

HAVE A LOOK AT THIS VIDEO TO SEE HOW IT WORKS

Who is it for?
Receipt Bank and Xero together is perfect for Small to Medium-sized Businesses.

The old way of mountanins of paper is gone – If you are looking to automate your bookkeeping productivity then Receipt Bank is the solution for the problem that for years you didn’t realise you had.

Join the thousands of clients on Receipt Bank by automating your expense processes so you can spend more time on your business, or the things you love.

How does it work with Xero?
The two systems integrate seamlessly to provide a near real-time view of your accounts. Receipt Bank’s software extracts the information from your invoices and receipts and publishes it directly into Xero.

Paddy Gahan Gahan.ie Xero Accountants

FOMO The Fear Of Missing Out !!

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Ever see folks staring in the same direction? You don’t initially join them in the glance. But in the back of your head, you think, “hmm, I could be missing out.” It’s a common thought, which links directly to your business:

FOMO – the fear of missing out (it’s real)

This is exactly how you should feel about your business and the cloud. Cloud technology is driving a massive, once-in-a-generation shift in the accounting sector. The move means software is doing much more of the heavy lifting, freeing advisors from the pain of data-entry so they can focus on higher-value activities and help boost the success of their small business clients.

Working on a single ledger, in real-time with our clients means we accountants are able to develop closer client relationships and up-level to offer more CFO-type services.

So now is the time to look at online applications and revolutionise your business. Why not get a cloud application like Xero which will give you real time accounting information at your fingertips.

Paddy Gahan at Gahan.ie Xero Accountants

The Top Four Benefits Of Cloud Services

cloud

One of the greatest advantages of small businesses is their agility.

The ability to make quick decisions is what makes us so competitive. We’re nimble. Whether it’s launching a new product, responding to customer requests or changing a business’s focus altogether.

And this advantage is even more evident with the rise of cloud technology.

Benefits of Cloud Services

1. File storage and sharing
Gone are the days of boxes of paperwork, staff working from 9-5 in their cubicles and handwritten files for tax, invoices and receipts. Trust me, I remember. In my first job we used telex machines.

Today with cloud services like Gmail and Dropbox staff can work simultaneously on the same documents. Even if they’re on the other side of the world from each other.

Having everyone work on the same spreadsheet, doc or photo file has speeded up processes in my business. It’s also freed up time for the team to focus on more important things.

2. Reduced costs
The only things you really need to run a business these days are a tablet or laptop and an internet connection. That makes for a pretty lean operation, especially with pay-as-you-go software and storage options.

It also means small businesses can compete with the big firms in other ways. They now have flexible access to a bigger pool of talent, sourced globally.

Existing staff benefit from this new mobility as well. Having the freedom and flexibility to work remotely means they’re more engaged, satisfied and productive. A dream for any small business owner.

3. Getting paid faster
It’s hugely rewarding working on a business you love. Getting paid for your work is even better. But you don’t want to be bogged down in the books.

Cloud services also extend to accounting. Accounting apps like Xero automatically import data from your bank accounts. This saves a lot of reconciliation time. It also allows quotes to be turned into invoices quickly and easily. And the faster a client gets an invoice, the better chance they’ll pay on time.

This means less time spent chasing debtors. And no need to spend Sunday afternoons going through paperwork. That’s a task I’m sure no business owner enjoys.

4. Scalability
Working in the cloud also means it’s easier to scale a small business at a lower cost. This is great news in the event your growth goes to plan.

My small business just added more storage to our systems to help meet growing demand. It was an easy and effective process with the cloud services we use. Big businesses have loads of red tape to go through. One decision maker was able implement our extra storage with the click of a button. Genius.

If you’re in small business, think about how you can become more agile by using the right technology. It might be the difference between middle-of-the-road and rapid growth.

Regards Paddy Gahan Gahan.ie Accountants Dublin

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Successful businesses use the cloud !!

cloud

Research shows successful businesses use the cloud

Recent research by Deloitte and Google found that the best performing SMEs use more than the average amount of cloud technology. In fact, they’re growing 26% faster than those who don’t use any at all. And they’re also 21% more profitable.

It seems likely that these companies will be the star performers of the future.

And research by Intuit discovered that 61% of small businesses  are demanding cloud accounting. After all, if their own business uses the cloud, reverting to old processes and systems just for their accounts creates an unwelcome hiccup in operations.

The same research also revealed that 66% of SMEs believe accountants need to update their accounting software and 65% think accountants must stay ahead of the technological curve. Tellingly, the same number would also value a business consultancy service, with 95% willing to pay for it. Which suggests that there’s a huge desire from small businesses for their accountants to be a lot more than number crunchers.

Only the accounting firms who can provide that genuinely valuable service will attract these ideal clients.

So if you haven’t yet embraced cloud accounting – and all the other possibilities cloud technology brings – isn’t it time you gave it some thought?

Paddy Gahan   The Xero Accountant