The top 5 reasons to adopt cloud accounting

Clear Vision • May 7, 2014

Without a doubt, cloud computing and cloud accounting, are here to stay. And here at Clear Vision we’re all pretty excited about the opportunities that this new technology is bringing for our clients and how we work with them to better manage their finances and business. This is one technology you shouldn’t ignore for too long.

If you’d like to know more about how cloud accounting works and how it can benefit your business please get in touch to attend a seminar we are holding on Tuesday 3 June 2014.

In the interim here are the top 5 reasons why we think businesses should considering adopting a cloud accounting system:

  1. Access anywhere at any time

Everything from your account balances to outstanding invoices can be accessed securely 24 hours a day, 7 days a week. You can work in your accounts from your pc in the traditional way (albeit via a login to the cloud) or your can take advantage of the cloud system to access it on the road, on mobile devices or anywhere you can access a web based device.

  1. Reduction and spread in costs

Cloud accounting software is most often installed for free. You then pay a monthly fee depending on the level of services you require and the product you are using. There are no extra costs for upgrading the software either. Upgrades are simply done at the provider’s end with you receiving a notice of extra features and functions are they are added. With accounts from just $50 a month this makes cloud accounting an excellent option for start-up and small businesses.

Because cloud accounting scales up easily it is also suitable for larger enterprises or those going through significant growth periods.

  1. Increased security

With cloud accounting all data is stored on the cloud and is continually backed up by the service provider so that you don’t have to worry about your server dying or your internal back-ups not working. Online password access means there is no local data to be improperly accessed or lost through improper access to office pcs. The system logs out any user who leaves a login idle.

The system will also track user activity so you can see which of your accounts is using or amending the information.

  1. Improved data accuracy

Cloud accounting uses real time data and can connect with your bank accounts to provide updates without additional data entry. This can eliminate error prone procedures and keep your data accurate and matched up between accounts.

  1. Easy and instant communication

Being able to share data and work on accounts at the same time can lead to better communication and improved business decisions. This is particularly true if you are working with Clear Vision. We offer services specifically for cloud accounting users that can help you better manage your business and provide insights that are more immediate and more cost effective than has ever previously been possible.

If you’re already convinced of the value of cloud accounting and want to move ahead please contact us to discuss the best solution for your business. If you want to know more you can also get in touch or come along to our seminar on Tuesday 3 June.

What Records to Keep for Your Rental Property

By Caroline Gillies • August 3, 2025
If you own a rental property or holiday home, keeping the right records is key to maximising your tax deductions and staying ATO-compliant. This week, we’re highlighting what the ATO expects you to keep when it comes to residential rental properties. Here’s a quick checklist of the documents you should hold onto: Purchase & Sale Documents – Contracts, settlement statements, and legal documents. Loan & Ownership Records – Loan statements, refinancing documents, land tax assessments. Rental Income – If you don’t have a rental statement you will need to document all rental income received, including bond money retained, insurance payouts, and any other reimbursements. Expenses & Repairs – Keep receipts and invoices for expenses like advertising for tenants, property agent fees, council rates, strata levies, repairs, maintenance, insurance, and interest on loans. Depreciation & Capital Works – Receipts for assets over $300, depreciation reports, and capital improvement records. Before and after photos of any capital works. Holiday Home Use – If your property is rented out part-time, you’ll need evidence of when it was genuinely available for rent (e.g. booking requests, advertising, availability calendars). How long to keep records: You’ll need to keep most records for at least 5 years after lodging your tax return, or longer if claiming capital works or carrying forward losses. Keeping detailed records ensures you claim everything you're entitled to—and makes things much easier in the event of an ATO audit.  Need help getting your documentation in order? Reach out to our team at Clear Vision Accountancy Group—we’re here to help. To read a more detailed list of items you need to keep for your rental property visit: Records for rental properties and holiday homes | Australian Taxation Office

How Much Do You Need to Make? Understanding Business Turnover

By Caroline Gillies • July 13, 2025
Running a business isn’t just about making sales — it’s about making enough sales to cover your costs and pay yourself what you deserve. But how do you figure out how much turnover (aka revenue) you actually need to make each month? Knowing this number helps you: Set realistic sales targets Price your products or services properly Know when to cut costs or increase margins Understand when your business is sustainable This isn’t just about numbers — it’s about clarity and control. Once you know your required turnover, you can stop guessing and start planning. Whether you’re a solopreneur, a growing startup, or a small business owner, this is the foundation of making your business work for you — not the other way around. We love numbers — seriously. And we get that not everyone does. If you need help breaking things down in a way that’s simple, practical, and actually makes sense (even if numbers aren’t your thing), call Clear Vision Accountancy Group today on 4688 2500.

12% Superannuation Guarantee - 1 July 2025

By Caroline Gillies • June 22, 2025
From 1 July 2025, the Superannuation Guarantee (SG) rate in Australia will increase to 12%. This means employers will be legally required to contribute at least 12% of an eligible employee's ordinary time earnings to their superannuation fund. This increase is the final step in a legislated rise from 9.5% in 2021 to 12% by 2025, aimed at boosting retirement savings for Australian workers. If you use Xero for payroll, the SG rate should automatically update in the system. However, we recommend you double-check your payroll settings to ensure everything is correct. If you’re unsure or need assistance, please contact your bookkeeper or get in touch with us at: Clear Vision Accountancy Group (07) 4688 2500 We’re here to help you stay compliant and avoid any costly errors.