Cloud Accounting Basics

Cloud Accounting for the Information Technology and Real Estate Industries

Cloud accounting and your small business: A blog miniseries exploring the basics of cloud accounting
Post by
YAC Team
July 2020
Cloud Accounting for the Information Technology and Real Estate Industries

This blog is part of a miniseries exploring the basics of cloud accounting. In this installment, we discuss how a cloud accounting solution can fit the unique needs of various industries. 

Every small business operates differently, and each industry calls for a different set of financial tools and features. Fortunately, customizing services to meet the unique needs of your business is our specialty, and this begins from having a strong understanding of what each business needs. 

In today’s blog we discuss two industries - Information Technology and Real Estate, and explore some of the features a cloud accounting platform offers to support each industry’s needs. Whether you are a freelancer or sole proprietor just starting out, or the manager of a small or medium sized company, YAC offers a scalable solution to best fit your needs.

Did we miss your industry? Stay tuned for future blogs or reach out today to learn more about how YAC can be tailored to fit the unique needs of your business.

Information Technology

As a business in the Information Technology sector, you are already familiar with the constant need to stay ahead of today’s rapidly developing technologies. We share that goal. We also know you require flexibility - the tools of your trade change and develop so rapidly that without it, it is easy to fall behind.

We developed Your Accounting Cloud with this flexibility in mind, allowing you to select which tools you wish to use, and how hands on you want to be: let us handle everything or take a more active role. Either way, you work through a digital platform which seamlessly integrates with your favorite productivity apps. Behind the scenes, we are constantly working on growing and developing the platform, so you can be sure you always access the latest features on the market.

This flexibility also extends to how you work with clients. For example, we know your day-to-day activities include invoicing clients, sometimes across provinces or even internationally. We help handle your transactions with a multi-currency support platform. We look after your invoices to ensure all transactions adhere to tax regulations, and support tax reporting based on your business’ reporting window, whether annual, quarterly, or otherwise.

Growing your business

The flexibility of the YAC model allows it to grow alongside your business. We work with you to help form a salary budget for you and anyone else involved in your business, and you can easily extend your plan to support payroll when the time comes. No matter which plan you choose, you always receive free access to QuickBooks alongside training and support to help you navigate the software quickly and effectively. 

Most importantly, we provide tailored, expert consulting as accountants with over 15 years of experience. Whether you are looking to determine the best salary to take out, or deciding between leasing or financing, we can answer your financial and tax optimization questions as they arise, helping you make more informed decisions and act with confidence.

Real Estate

Real Estate agents wear multiple hats - marketing, branding, generating leads, sales, and more. Managing your budget can be a time-consuming endeavour which makes focusing on other, more important aspects of your business near impossible. Yet,having your finances in order is vital to succeeding in real estate.

Using a cloud accounting platform makes organizing and handling your business finances easy, quick, and (mostly) automatic. 

YAC scales with your business, making tracking new revenue streams and new expenses easy and intuitive. We moderate your transactions to ensure accuracy, and check-in with you whenever we notice something is off - freeing you to focus on the other aspects of your business.

Monitoring transactions throughout the year is also a huge help when it comes to taxes. We are here to make the tax filing process smooth and painless. Our team of CPA-certified accountants knows what is deductible and what is a liability, eliminating the hassle and worry of misfilings or any other issues.

Operating at your pace

You get to choose how involved we are in your finances. Depending on your plan, YAC can handle some or all of the budget-related tasks for your business, including:

  • revenue and expenditure cycle reports
  • lease abstracts
  • cash basis income statements
  • investment analysis and planning

We know real estate is not a nine-to-five workday, and we are here to support that. We are constantly working on growing our information database and FAQ section, so that you can always get the answers you need. 

Staying on top of changing regulations

Keeping pace with the fast changing federal and provincial regulations is vital to any business’s smooth operations. 

We make it a priority to know and implement the latest regulations in all our work, and always keep you in the loop on any changes affecting your business. 

We use our expertise to help optimize your finances

We leverage our years of experience to help you optimize your taxes and finances, and help answer any questions you may have. 

You can always book a consultation with your accountant in seconds from within the YAC platform and get tailored support for any questions you may have.

No matter what industry your business is in, YAC can help you manage it better

As a small business, access to consultation and support can make a world of a difference. We leverage our years of experience to help you form budgets, make important decisions, and stay on top of your business’s finances. Reach out today to learn more about how YAC can be tailored to fit the unique needs of your business.

Have any questions or a topic you would like to see us cover? We would be more than happy to hear from you - reach out! (or check out our FAQ database).

Continue reading the Cloud Accounting Basics miniseries

Previous blog: The Basics of Cloud Accounting

Next blog: stay tuned!

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