The fact that the interest rate is fixed is a significant advantage for equipment financing…
Real time accounting offers many benefits for business owners! It is something we implemented at The 500 Group and advocate to our clients.
From a business perspective, real time accounting:
When it comes to finance, it can also make a business far more attractive to Banks.
From our experience real time accounting makes good business sense!
What is Real Time Accounting?
Real Time Accounting is about recording your business financial transactions as they occur (or shortly thereafter).
This contrasts with the historical approach of waiting for a Bookkeeper or Accountant, to update records on a monthly, quarterly, or even an annual basis.
Real Time Accounting delivers business owners powerful, current financial information to help make more informed decisions.
The Benefits of Real Time Accounting
Use Document Capture to Multiply Benefits
At The 500 Group we use Xero as our accounting software, and link this to the online document capture platform, Hubdoc.
Linking accounting software with document capture packages, simplifies the process – makes it easy!
With Hubdoc you can:
Using Hubdoc combined with Xero takes the pain out of maintaining your financial records.
You simply load data to Hubdoc and then allocate it to the appropriate Account in Xero by clicking a couple of buttons!
Real Time Accounting and Banks
Implementing Real Time Accounting
Online platforms like Xero, combined with Hubdoc, provide business owners with powerful, easy to use tools to help manage and grow a business.
Whilst set up and some initial training is required, it does not take long to master!
When it comes to your loan application, whilst Real Time Accounting cannot guarantee approval, adopting this best practice for your business, will certainly be to your advantage!
If you would like to learn more about how Real Time Accounting could assist your finance application, don’t hesitate to get in touch.