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Cloud-Based Accounting Software for Large Companies

We regularly help companies of all sizes move to cloud-based accounting, which is almost always a smart and cost-saving measure.

The best cloud-based accounting software for large businesses is Xero, because it’s very easy to use, while also providing all the necessary information to both accountants and business owners. Xero can also be nicely supplemented by several other cloud-based accounting apps, which we’ll also cover below.

First, we’ll look at why large businesses should consider switching to cloud-based software.

We regularly help companies of all sizes move to cloud-based accounting, which is almost always a smart and cost-saving measure.

Large Businesses and Cloud-Based Accounting Software

It seems like everything is moving to ‘the cloud’ these days, which means we’re moving towards systems and software that are housed on the internet, instead of on your hard drive. In other words, it’s software that you can access anywhere you can access the internet, making it much more flexible and convenient than being tethered to your physical computer.

While there are many reasons for companies of any size to switch to cloud-based accounting, it offers some specific benefits for large companies. When you have a large team and a large customer base, having a user-friendly cloud-based accounting system can make things like submitting receipts and sending invoices much easier.

Moreover, this type of software shows you all the actions being taken in your account, increasing transparency and protecting against misuse of funds. This can be especially beneficial for companies with large leadership teams.

When companies start to have greater success, they often turn their attention to broader issues, like reducing their carbon footprint and reducing paper waste – both of which are helped by cloud-based software.

And simply put, the larger the company, the larger the accounting bill. Cloud-based accounting saves time and money, and frees up admin and accounting staff.

Why We Recommend (and only use) Xero

Xero is the only cloud-based accounting software we use, and it’s what we recommend to all our clients, big and small. You can use it anywhere you have Wi-Fi, meaning you can check your live data whenever (and wherever) you feel like it.

Here’s why we love Xero for large businesses:

  • Xero integrates with over 500 other cloud-based apps, so there’s an almost endless amount of solutions for any problems businesses may face.
  • Xero connects to your bank and credit card accounts and will automatically upload your transactions through an API connection. This means you can save roughly 50% of manual data entry and get this invaluable information on a daily basis (instead of monthly or annually).
  • Xero provides everything you need for accounting purposes – payroll, fixed assets, expense claims, budgets and complete financial reporting – on Mac, Windows, iPhone and Android.
  • Xero offers world-class support that can be accessed by both accountants or business owners.

Ultimately, Xero is comprehensive, user-friendly, and cost-effective, making it a great choice for big companies.

More Cloud-Based Apps for Accounting Support

While we exclusively use Xero for accounting, depending on our client’s needs, we also recommend some additional cloud-based services.

For large businesses, we also recommend:

  • HubDoc: a cloud-based receipt management app that integrates with Xero and provides a quick and easy way to capture your documentation.
  • Plooto: a payment processing system that can collect and make payments on behalf of your business by connecting your bank account(s) online.
  • WagePoint: the main payroll provider we use for clients. For both salary and hourly employees, it’s easy to use and does everything from payroll processing to preparing T4s at year-end. Definitely a time and money saver!

Even for large companies with big budgets, transitioning from traditional paper accounting to cloud-based can be over-whelming. Our team can walk you through it, from consulting through to full set-up and on-going support – saving you time, money, and stress. Contact us today to see how we can help switch you over to the best cloud-based software available for your large business.

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