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7 Ways Cloud Accounting Propels Lawyers to Success (Sponsored)
Brought to you by GLG Accounting,
the premier CPA firm for lawyers.
Surely you like to win, because we sure love that feeling when we’ve just accomplished something really awesome. With tax time here, the stress of having to get the books together and file taxes looms (especially for those who don’t have a solid accounting process in place already). But it doesn’t have to be this way…
You see, cloud computing has transformed the way that we do business and store our data. It has especially hit businesses hard by enabling them to use the power of cloud accounting to their advantage. As a CPA firm that helps many lawyers with their accounting needs, we know how critical it is to keep the numbers right and easy-to-access at all times.
With that said, let’s take a look at how cloud accounting has helped many lawyers win already. Who knows, you could be the next one to let accounting smell its own defeat!
Always know about your cash flow.
Knowing where you stand financially is the first step to experiencing true financial security not only personally, but in your business as well. We use Xero, which is the leading cloud accounting platform on the market that packs powerful features right into your phone (or tablet/laptop). This means that no matter where you’re at, you can always put your finger right on the cash flow of your business.
Picking up the tab for a client lunch? Just snap a pic, upload, and go.
We all love to go out for lunch, especially when it comes to ensuring that we secure the business of a client who we can help win their own battle. The problem is that some of us lose the receipt when we go out, which poses a problem when trying to account for it.
All you have to do with Xero is snap a picture of the receipt with your smartphone and upload it to the cloud using the Xero mobile app. As soon as it’s uploaded, your trusted accountant will be able to see the expense so that they know your financial situation has been updated.
Compliance couldn’t get any better than this!
As lawyers, it’s already known that we have to protect ourselves (especially when it comes to regulatory authorities). Cloud accounting is able to give your accountant the real-time look of your finances (and financial history) to comply with audits and ensure that all filings are completed accurately. Worrying about compliance is now a thing of the past.
Send Bills to Your Clients from Anywhere
When it comes to sending an invoice, kiss the old days of sticking a stamp on it away. Invoices can be sent digitally to your clients right from your phone (and any other Xero-connected devices). Instead of waiting until you get to the office, get everything done at once instead of letting it add up.
Only in the 21st century can something like this be possible, it’s truly a game-changer to say the least.
Make Payments Instantly
Do you have a bill that just came in or do you need to send a payment to an employee? Fear no more, the accounting cloud is here!
You can make payments instantly via your smartphone thanks to the Xero app. The mobility advantages that Xero has is why we’re happy to integrate it into our CPA firm for our clients while revealing the power that is has for those who are just now finding out about it.
Easily Track Your Time
You wouldn’t believe how many lawyers are missing out on money due to the low quality process that they have in place for tracking their time. Time is money, and it shouldn’t be looked at any differently.
Xero allows our clients to efficiently track their time, while providing them with the opportunity to add it to an invoice instantly. Talking about making things quick and easy.
You’re saving trees!
You see them talk about how the cloud saves time and money all of the time, but they didn’t seem to think about the impact it had on our environment! By utilizing cloud accounting, you’re allowing yourself the opportunity to eliminate the waste of paper that used to be all too common in the law firm. The world provides us with beautiful days, so we might as well conserve its resources!
Now you see the big picture, a better form of communication.
This makes it easier than ever to have an accounting system in place for your law firm without having to worry about how much work it causes, because it was designed for growth right out of the gate. It also helps law firms reduce their overhead, increase the effectiveness of their billing, easily manage their payroll (or have it managed for you), and keep a close eye on their financial state.
Since it is tax season, we figured this would be a great time to help you save money on filing. We want to prove that we’ll fight for your business, and we’ll beat anyone’s rate. We also offer a breadth of other accounting services for our clients. Click here to find out what it’s really like to have a first-class accounting experience for your law firm.
Source: https://lawyerist.com/81239/7-ways-cloud-accounting-propels-lawyers-to-success-sponsored/
