These days, just about everything is done in the cloud. It fits in with the way we want to work with our data: on the go, accessible across devices, and safely stored away. Cloud accounting has changed the way businesses in Dubai operate, and although they aren’t free, features like integration with your point of sale software means these packages will save you a lot of time and legwork. To determine which systems to recommend, we looked at accessibility, income and costs tracking features, reporting features, and ability to integrate with POS and inventory management software.
At the same time, we looked at cost efficiency. There are some very advanced and very costly accounting programs out there, but if you don’t need the functionality, there’s no point in spending more for it.
#1 Xero
We will admit to being impressed with Xero in the restaurant context. All the basic functionality we were looking for is present in Xero and it has added benefits like the ability to divide your business into cost and profit centres. So, for example, you can split beverage and food service if you’re hoping to analyse their figures as separate “sub-businesses.”
Although its detractors say Xero is relatively “basic,” we believe that is an advantage in the restaurant business context where the staff working with Xero are unlikely to be qualified bookkeepers or accountants. And although we have no doubt that your team has culinary genius of no small magnitude, restaurant financials are usually structured in a relatively straightforward way that doesn’t require complex or costly additional software features.
#2 Quickbooks Online
There’s nothing to dislike about Quickbooks. It’s the cloud accounting system that thousands of small businesses around the world choose. It has all the technical capacity that you might want – but do be careful of the desktop version since it only allows you to use it from one machine unless you pay an additional fee for hosting services.
In terms of user-friendliness, we see Quickbooks being rated at four stars while Xero delivers a five-star-rated user experience. We therefore feel, that worthy as it is of consideration, Quickbooks takes second place to Xero.
#3 Zoho Books
There are two big plus points for Zoho Books: it’s easy to use and the price is nice. However, user ratings are lower than they are for Quickbooks and Xero because of limited report customizability and an inability to sync with payroll.
We recognize Zoho Books as a good basic package, but feel that restaurateurs who hope to use their financial information as a management tool can do better.
Why Cloud Computing AND Accounting and Bookkeeping Services in Dubai?
When cloud accounting systems first appeared, there were many who said the development spelled the end of – or at least a very serious setback for the accounting profession. However, this opinion failed to take what accountants do into consideration. Accounting isn’t just about crunching numbers and producing reports. It’s about analysing those reports, coming up with strategies to enhance profit, and planning for a better financial future.
We welcome cloud-based accounting systems for restaurants and other small businesses. They help our clients to save on the basic, routine side of bookkeeping. And, where their functionality ends, we take over, helping you to manage your restaurant’s finances and assets. It’s like having a CFO on your side. Would you like to know more? Book a discussion session with us.
