Cloud Accounting
MULCAHY & CO | P 03 5330 7200 | INFO@MULCAHY.COM.AU | 300B GILLIES ST NTH, BALLARAT
CLOUD ACCOUNTING, DELIVERY THE BENEFIT We are proud to partner with leading cloud accounting software providers to deliver the benefits to our clients. If you’ve read anything about accounting software recently, odds are you’ll have come across references to cloud technology. So what is cloud technology? And why would you be interested? Essentially, accounting software with a cloud component enables accounting data to be stored securely off site, usually on servers managed by a cloud provider and accessed remotely by you anywhere, anytime via the internet. Today, most offers are based on either terminal server or browser technology. Although it’s recently become a buzzword, the cloud is not a new a concept. If you’re using email then you’re using cloud technology. If you’re accessing your bank account online then you’re using cloud technology...and so on. Large businesses have been using private clouds for many years to help facilitate multiple users accessing central business systems at the one time. Now we are seeing the emergence of a number of affordable solutions for small to medium businesses, so that you can take advantage of the same technology big businesses use to drive efficiency, enhance the customer experience and keep up with the competition.
SO WHY MIGHT YOU CONSIDER MOVING TO A CLOUD BASED ACCOUNTING SYSTEM? Work on your business where and when you want: in the office, at home, or on the road: When your accounting software is held on a hard drive on a computer, it can only be accessed when that computer is available. For many businesses, this means access is restricted to a single computer and a single location. When you move to a cloud solution, you have the flexibility of being able to access your company files anywhere you have access to the internet. So, you can have one team member out with the laptop or smart phone recording quotes or sales while another does the book keeping at a different location. Both are inputting their data into the same place. No double keying is necessary and no need to take turns when accessing files. Peace of mind: you’re always backed up: With your business information held in a secure third party server, you always have a secure data back up, so that essential business operating data is still available if something goes wrong with the office computer. Think about what you would do if your office was flooded, ravaged by fire or raided by thieves. Is your important business information safe and accessible no matter what? Build your business by sharing of data with us in real time: We can both access the files via the cloud. This eliminates time consuming file transfers and travel, and also gives the opportunity for us to collaborate with you on building your business by monitoring in real time key business indicators such as inventory levels, debtors and team performance.
Time savings: some cloud accounting software solutions will have the ability to download transactions direct from your bank daily. Memorised transactions can then be set up to sort transactions. This means you do not need to spend your valuable time entering and allocating transactions. Making the change to cloud: We make the switch as pain free as possible. After planning the conversion we take you through each step of the process to make sure the set up is completed and the necessary initial and ongoing training is provided.
Are You Financially Secure?
At Mulcahy & Co we are in a unique position to provide the expert advice and solutions of accounting, financial planning, lending, legal and information technology all under the one roof. This makes a normally complicated process seamless to help you on your way to becoming financially secure. FOLLOW OUR 10 STEPS TO SUCCESS TO ACHIEVE FINANCIAL SECURITY... Visit www.mulcahy.com.au for more information
mulcahy.com.au IMPORTANT DISCLAIMER: This document does not constitute advice. Clients should not act solely on the basis of the material contained in this document. Items herein are general comments only and do not constitute or convey advice per se. Also changes in legislation may occur quickly and we therefore recommend that our formal advice be sought before acting in any of these areas. This document is issued as a helpful guide to clients and for their private information.
ACCOUNTING | FINANCIAL PLANNING | LENDING | LEGAL | INFORMATION TECHNOLOGY MULCAHY.COM.AU
TAILORED CLOUD ACCOUNTING PACKAGES Type
Small
Medium
Large
Customised
Up to $75,000
Up to $500,000
Up to $1,000,000
Over $1,000,000
Unlimited phone calls*
Yes
Yes
Yes
Yes
Unlimited emails*
Yes
Yes
Yes
Yes
Annual meeting
Yes
Yes
Yes
Yes
Quarterly meeting
Optional
Optional
Yes
Yes
Monthly meeting
Optional
Optional
Optional
Optional
Yes
Yes
Yes
Yes
Turnover (estimated range)
BAS & IAS reconciliation Annual financials
Yes
Yes
Yes
Yes
Quarterly financials
Optional
Optional
Yes
Yes
Monthly financials
Optional
Optional
Optional
Optional
Yes
Yes
Yes
Yes
PAYG summary reconciliation
Optional
Yes
Yes
Yes
Workcover reconciliation
Optional
Yes
Yes
Yes
SGC reconciliation
ATO lodgements
Optional
Yes
Yes
Yes
Annual tax planning
Yes
Yes
Yes
Yes
General tax minimisation advice
Yes
Yes
Yes
Yes
Cashflow forecast
Optional
Optional
Yes
Yes
Actual to forecast analysis
Optional
Optional
Yes
Yes
KPI review
Optional
Optional
Optional
Yes
Annual planning meeting
Optional
Optional
Yes
Yes
Goal setting
Optional
Optional
Yes
Yes
Must be on cloud system
Yes
Yes
Yes
Optional
Cloud system subscription Inc. in fee
Yes
Yes
Yes
Optional
Annual fixed price fee*
Yes
Yes
Yes
Yes
At Mulcahy & Co we are in a unique position to provide the expert advice and solutions of accounting, financial planning, lending, legal and information technology all under the one roof. This makes a normally complicated process seamless to help you on your way to becoming financially secure.
WHAT DOES BEING FINANCIALLY SECURE MEAN? It means assessing your personal and business goals and developing a plan to achieve them. 1. Goals & objectives 2. Estate plan
CLOUD ACCOUNTING SET UP GUIDE Type
Are You Financially Secure?
3. Risk plan
Small
Medium
Large
Customised
Up to $75,000
Up to $500,000
Up to $1,000,000
Over $1,000,000
Complete registration
Yes
Yes
Yes
Yes
Set up chart of accounts
Yes
Yes
Yes
Yes
Customise chart of accounts
Yes
Yes
Yes
Yes
7. Retirement plan
Set up opening balances
Yes
Yes
Yes
Yes
8. Business plan
Transfer historical data
Optional
Optional
Optional
Optional
Link debtor & creditor accounts
Optional
Yes
Yes
Yes
Set up bank accounts
Yes
Yes
Yes
Yes
Set up credit card accounts
Yes
Yes
Yes
Yes
Set up live data feeds
Yes
Yes
Yes
Yes
Turnover (estimated range)
Confirm log access Set up employees 0 to 20 Set up employees unlimited* Customise invoice
Yes
Yes
Yes
Yes
Optional
Yes
Yes
Yes
No
No
Optional
Optional
Optional
Yes
Yes
Yes
Training: Get started training
Yes
Yes
Yes
Yes
Ongoing support: Limited
Yes
Yes
Yes
Yes
Optional
Optional
Optional
Optional
Yes
Yes
Yes
Yes
Optional
Optional
Optional
Yes
$330
$660
Fixed quote
Fixed quote
Ongoing support: Unlimited Access anywhere anytime Customise Add Ons Set up fee guide (inc. GST)*
4. Asset protection plan 5. Taxation plan 6. Debt plan
9. Superannuation plan 10. Investment plan FOLLOW OUR 10 STEPS TO SUCCESS TO ACHIEVE FINANCIAL SECURITY... Visit www.mulcahy.com.au for more information
*If additional work or advice is required outside scope of agreed package, a separate fee agreement will be provided.
ACCOUNTING | FINANCIAL PLANNING | LENDING | LEGAL | INFORMATION TECHNOLOGY MULCAHY.COM.AU
mulcahy.com.au
MULCAHY & CO | P 03 5330 7200 | INFO@MULCAHY.COM.AU | 300B GILLIES ST NTH, BALLARAT