Cloud based accounting systems give you live and up to date financial data. The benefit to your business is immense, allowing you the opportunity to view and analyse the results in real time. The advantage of not having to wait for months, or even the following year when your tax work is done, is tangible. Imagine having everything at your fingertips so you can make decisions in real time. In addition to what is in your financial records, there is a lot of other data that can be collected from other systems, such as google analytics from your website, and in your other cloud based apps.
This is where reporting tools like Spotlight come in, to provide a single place where your business data can be viewed and analysed.
Spotlight is a Xero certified add-on which provides reporting in a customizable and useful way. Spotlight is easy to set up and integrates nicely with Xero, MYOB Live, Google analytics and Excel data files. Non-financial data, such as the number of sales, items produced or marketing activity, can also be included in the reports. The data can be presented in a number of highly customizable ways on a dashboard, both graphically and in numerical form.
Cash flow is one of the single most important issues for most small businesses. Spotlight reports clearly set out how much cash has been generated and where it has been spent. It can be used to forecast future cash flows, and prepare and manage budgets. These can be used by your business and just as importantly presented to your bank.
What are the benefits of using cloud based reporting
– Being online, they can be accessed wherever you have internet accessibility
– User friendly – easy to setup, use and analyse information
– Allows you to make decisions in real time
If you think your business would benefit from using cloud based accounting and reporting packages, contact the team at NCA on 93870000 and we will be pleased to assist.