Are you giving your cloud accounting system the love it needs? Your neglect could lead to significant financial loss for your business or your client's business. If the books aren't up-to-date, then your cash flow is impacted, and you don't know whether the business finances are on track.
How many hats do you wear in your business? Owner, IT wizard, marketing, salesperson, plus the rest. If you're adding bookkeeper to that list, you probably do it when you absolutely need to - but is that enough?
XBert will give you the nudge you need to make sure you stay on top of your books.
Your business is flat out with orders. Great! But, you're working around the clock, crawling into bed for only a few hours sleep each night. Your priority is getting through each day and getting those orders out the door. You don't have time to do the books and update your accounting system.
A week goes by. Two. Four. Orders are all that's on your mind.
Suddenly, your business grinds to a halt. Your cash flow is non-existent because you're not invoicing and suppliers are chasing you for payment. Maybe you're racking up fees and interest on overdue bills. You're swamped and don't know where to start.
It's impossible to get an accurate financial snapshot of your business if your accounts are outdated. Any business decisions will be based on inaccurate information, possibly months old. How can you decide whether to replace run-down machinery if you have no idea of your incomings or expenditure?
Maybe your bookkeeper goes on holidays, so the reconciliation and reviewing of outstanding invoices aren't done. While they're gone, you make a sale of $5,000 to ABCD Pty Ltd. You forget to check whether their last bill for $5,000 was paid - it wasn't. ABCD are notorious late-payers, so you usually insist they pay any overdue bills before you extend further credit to them.
Now you're owed $10,000 by a problem customer because you've neglected your books. And what about all your other customers and transactions? You have no idea about the business' financial status because your report data is incorrect.
There are significant risks to your business, or your client's business if you are a bookkeeper, when your accounts are out of date.
Maybe you need a reminder to give your accounting system the love it needs. After all, you don't know what you've 'til it's gone!
XBert will let you know when your Accounting System is Getting Lonely and that's the nudge you need so you can trust your data again.
You'll be alerted if there are no changes to your integrated accounting system for a week, including adding or updating an invoice, bill, payment, or bank transaction.
Whether your a business owner who does their own books, or you employ a bookkeeper, make sure your records are maintained consistently, and promptly. By doing so, you get an accurate idea of cash flow, you can trust your data, and make informed business decisions.
XBert prompts you to prioritise updating the books, or have your bookkeeper do this for you. You can forecast better and make appropriate business decisions.
If you hadn't received the alert, you may have continued to delay updating your accounting system, making decisions that could have a negative financial impact.
Outdated bookkeeping is just one of the many risks XBert will find reviewing your accounting data on an hourly basis. Using sophisticated algorithms, predictive analytics, and machine learning, XBert is there to detect business risks, saving you time and money.