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How Vinod Shah & Co is embracing cloud accounting to reach their paperless goal

Xero

We spoke with Ravi to learn more about Vinod Shah & Co, and how Xero is helping achieve this ambition. . After many years of the business going from strength to strength, Punita became a partner in 2008. He tells us, “Xero is so user friendly. Family business. Two years later, Ravi entered the fray. Going paperless.

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Tax Day is July 15. Still

Cloud Accounting Podcast

If you've ever tried to get your clients' Stripe, Square, or PayPal transactions into QuickBooks or Xero, you've probably pulled your hair out a few times trying to get the income, and fees recorded correctly so the deposit amounts match the bank statement, so you can reconcile.

Tax 40
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Earnings Before Interest, Taxes, Depreciation, Amortization, and Coronavirus

Cloud Accounting Podcast

It has an easy-to-use dashboard, integrations with QuickBooks and Xero, and additional automated tools to serve the modern workforce. The firm grew 15 percent from 2008 to 2009, and that has been the normal amount of growth ever since. David Leary: [00:28:23] So, these examples are techniques this firm used during the 2008 crisis.

Tax 40
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Will $2T Stimulus Pay for Accountants’ Self Hair Cuts

Cloud Accounting Podcast

The last time the IRS sent stimulus checks, in 2008 and 2009, it took more than two months to get the money in the mail. Accounting today had an article called; "Virus Payments from IRS May Take Months, Not Weeks to Hit Bank Accounts." They talk exactly about that. Mnuchin is saying three weeks.

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Is PPP Failing? We Get Answers from the AICPA

Cloud Accounting Podcast

Accountants and bookkeepers love Relay because they get a partner portal, can manage staff access without compromising security, and enjoy enriched direct bank feeds to QuickBooks Online, and Xero. We learned this in the 2008 stimulus package. Erik Asgeirsson: [00:28:43] Yeah. It's $350 billion, and we're worried about fraud.

Payroll 40
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Employers Take Hard Pass on Trump Tax Deferral

Cloud Accounting Podcast

This is the same- Xero's probably tried to deal with it. Same thing with Xero, right? Xero, here in the States, partners with Gusto. Xero, here in the States, partners with Gusto. Xero tried to build their own payroll here in the States and wasn't successful at it. Intuit's tried to deal with it.

Tax 40
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Coronavirus is Faster Than the Stimulus

Cloud Accounting Podcast

Even though Core is an all-in-one app, it still works nicely with accounting apps, like QuickBooks, and Xero. David Leary: [00:13:21] I was listening to a podcast with somebody who worked in the 2008 banking crisis, and he was in charge of rolling out the stimulus money for that. There's not an easy way to do it.

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