The Single Ledger -- by Xero accounting software

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https://www.xero.com/ Accountants know that many businesses are still using accounting software from a CD-ROM -- so a company's financial data can only be viewed and updated from one computer! Typically, once a year, your clients send you their files. But before you can work your magic, you need to convert their data into a format that works with your own accounting and reporting software. This old approach means that you have two ledgers that are completely out of sync -- neither has the full picture. Two major changes make the old methods obsolete. The first is cloud computing -- online apps have completely changed the way people do business, such as banking, email and of course, accounting. The second major change is the single ledger. It is one of the most important breakthroughs in accounting since the personal computer. With the single ledger, both you and your clients have access to the same data, using the same system, at the same time. The tools you use to prepare management and annual reports run on the same ledger that your clients use. It's much better for cashflow, more profitable, and your clients will love you! Find our about becoming a Xero accounting partner: http://www.xero.com/partners/ Try Xero accounting software for free: https://www.xero.com/signup/ Subscribe to our YouTube channel for all the latest videos from Xero.