Cloud-Based Accounting and
Advisory for Business
Gone are the days when you would see your accountant once a year
Chatham House Accounting is at the forefront of the cloud-based accounting revolution. Gone are the days when you would see your accountant once at the end of the year, only to give you out of date historical financial information that is no longer valid for current decision-making purposes.
We provide real time cloud-based accounting and support services, so as a small to medium business owner you always have current and up to date financial information. This will enable all parties to make informed and timely strategic decisions for your business, helping you to boost your profitability and cashflow.
We can provide your business with both interim Management Reports and year-end Financial Statements, which are professional and easy to read.
Frequently asked questions
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Cloud Based Accounting is simply using web based accounting/bookkeeping software such as Xero, MYOB or QuickBooks. As it is web based this means you can log into your file anywhere in the world so long as you have an internet connection and a computer or phone.
You can invite multiple users to have access to your file, such as your accountant, bookkeeper & business partners, so all of the key stakeholders can access the same accounting file at the same time. This means that as your accountant we can login and see real time data on your business at any point in time (so long as the bookkeeping is up to date) and give you current advice around business strategies, profitability and tax planning.
At Chatham House Accounting we recommend using Xero, as we currently view this as the superior product in the market. However we have experience with, and will work with MYOB and QuickBooks if you prefer.
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The short answer is yes! The monthly cost of most cloud based software’s including Xero is around $55 per month including GST, which of course is tax deductible. So after the tax savings/GST credits, the cost is around $400 a year out of pocket. You are guaranteed to make this back in time savings, which you can use to invest in your core business operations.
Also if you have employees (including if you pay yourself a wage) you are required to use ATO compliant software to report wages through Single Touch Payroll (STP) and also pay superannuation.
If your reluctant to switch to cloud based accounting software because you are overwhelmed as you have no idea how to use the software, don’t worry we are always on hand to guide you through the process and teach you how to use the software. We can also refer you to a bookkeeper to handle all of the processing for you, further freeing up your time to work on the core business.