Cloud Accounting

What is Cloud Accounting?

Cloud accounting is best described as ‘online accounting’. Instead of installing and running your accounting software on your local computer you access the software and your data files over the internet.  Your data is securely stored ‘in the cloud’ rather than on your local hard drive or server which means you have access to your financial data from anywhere, at any time, using any device including your mobile phone or tablet. All you need is an internet connection. Most people now use the cloud for applications like internet banking.

Is cloud accounting right for you?

Here at McHenry Partners we aim to help you unlock the financial potential of your business. One of the foundation stones in your business ‘wall’ is your accounting software and one size certainly doesn’t fit all businesses. There are a number of software packages on the market and they vary in functionality and price. Before we recommend any accounting software package we always ask two key questions:

  1. What does your business need? Payroll, inventory, debtors, creditors, invoicing or a full blown general ledger so you can produce your own financial statements?
  2. What is your level of accounting skill?

As such, your choice of accounting software will depend on your business needs and level of accounting skill. For that reason we support a number of programs including cloud based solutions.  Increasingly our clients are opting for cloud based bookkeeping solutions because of the flexibility. You can run your business from home, work or on the go. The cloud also has the benefit of 24/7 access and all you need is an internet connection and your password.

Services We Offer

  • Business start-up
  • Business Planning
  • Management reporting
  • Budget & Cashflow forecasting
  • Establishing Key Performance Indicators KPI's
  • Business Improvement Strategies
  • Accounting system advice & support
  • Business Coaching & mentoring
  • Business Structure Advice
  • Social Media & Marketing workshops
  • Buying & Selling business advice
  • Business Succession Planning

You can access your financial data via the internet and invite your accountant or bookkeeper to view your accounts at the same time. This means you can get bookkeeping assistance and valuable advice in real-time. Log in online anytime, anywhere on your Mac, PC, tablet or smart phone to get a real-time view of your cashflow. Your data is completely secure, even if your computer is lost or stolen.  Your data is automatically backed up and stored at various secure offsite locations.

All your invited users have access to the latest version of your financial data and you never need to worry about installing software or updates. Your data is never out-of-date and provided your subscription is current, software updates are automatically available when you login. Large upfront fees and switching costs are eliminated using cloud based solutions. These services run on a pay as you go basis so you only pay for what you use and the costs are 100% tax deductible.

Ultimately the idea is to let you spend more time working ON your business and less time on your record keeping. If you would like a demonstration of a cloud based software solution to assess the suitability to your business, contact us today.

Client Testimonials

“McHenry Partners have been our Accountants for many years and we have always found them to be professional and very supportive. When I retired from the business they were able to assist with the sale of my shares to the remaining partner and my transition from the business. Their Financial Planning services were able to set up my Self Managed Super Fund and help me manage my investments which I am very happy with. I have even appointed Steve McHenry as my back up Power of Attorney given the trust and confidence I have.”

Craig Harrison

“Making the decision to start my own business meant I needed to seek professional business advice. McHenry Partners were able to advise me on the right entity to use, guide me on compliance matters I needed to navigate, set us up on Xero and provide training on the software (which we have found to be a breeze to use) and answer all our questions.

It certainly helps getting our business off on the right foot with no unwanted surprises to occur.”

www.stintonadvisory.com.au

 

 

Ben Mitchell

Stinton Advisory

“While we felt we had great educational products and services, we were struggling to effectively market these to increase sales and our business seemed to be ‘treading water’. McHenry Partners really helped us to focus on the key profitable services and clarified the target market to promote these services. We contracted the right sales people with incentives for them to perform well. As a result our sales have doubled in each of the last two years without increasing administration staff. Our quarterly consulting meetings with McHenry Partners involving discussing our recent financial performance but more importantly guides us on what actions we need to do to improve the business over the following three months. Our business has come a long way in a short period of time.”

www.enhanceyourfuture.com.au

Donna Bowman

Enhance Your Future

“I was always busy in my business but my profitability was not a reflection of my time, effort and investment return.  After a business planning session with McHenry Partners, it was evident my systems were inefficient, our team members not productive enough and my time was being bogged down in less important areas of the business.

Over the last two years I committed to monthly consulting meetings with McHenry Partners. These meetings would identify the priorities of actions to work on my business to improve it. As a result, we have made significant improvements with better structures, systems and communication in our organisation and the team culture is now fantastic. I don’t have to worry about business cashflow anymore which gives me great peace of mind.

We now only have quarterly meetings instead of monthly, which keeps my General Manager and myself accountable to continue to improve the business. I would highly recommend McHenry Partners services.”

www.allgeneralsurveying.com

Richard Hockley

All General Surveying

“We have been utilising McHenry Partners services for 15 years. They encourage us with initiatives that we could benefit from, promptly respond to our requests and always try to minimize our taxes in appropriate ways. McHenry Partners have been a great sounding board for any business or investment matters we would like to discuss. Their client social events are pretty good fun! We would highly recommend their services.”

Andy & Tina Kiss

Thompson Kiss Electrical

“McHenry Partners have been supporting our building and development business for many years and find them to provide a brilliant service. I’m one to focus on the building operation of the business and prefer not to be dealing with the financial management side of the business. McHenry Partners support us with bookkeeping, accounting and tax services for a fixed monthly fee which works really well. It allows me to focus on what I’m passionate about.”

Darren Gould

Redhouse Developments

Free Consultation

We invite you to book a FREE, one hour introductory consultation to discuss your business software needs. At this meeting you can expect practical advice designed to help you accelerate your business success. To book a time, call us today on 1300 789 844 or complete your details in the box at the top of this page.

Supporting Businesses & Individuals Across Greater Geelong

We work with clients throughout Geelong and surrounding suburbs, including:

Make a Change…
Get in touch

Not getting what you need from your current accountant? McHenry Partners are here to change things for the better.

Our initial free consultation will identify whether you're comfortable with our personality, style, service & value that is to be provided so you can make an informed decision to engage us.

We will provide an ethical letter to your Accounting firm advising we are managing your financial compliance obligations from here and request any information that we may need.

We will agree with you on the services you require from us over the next 12 months and agree on a fee amount and payment terms that are suitable to both parties

Book your free 30
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