We can assess which cloud accounting solution suits your business best.
What is cloud accounting?
Cloud accounting systems such as Xero, QuickBooks online or Sage One store your data on their own servers and are accessible from your web-browser. Therefore, cloud accounting brings multiple benefits to your business as detailed below.
What are the benefits of cloud accounting?
As your data is stored ‘in the cloud’ you can access it from anywhere via the internet which means remote working is easily accomplished. As you access via your web browser it also means you are always on the latest version of the software, so you are always up to date. Being on a cloud software package therefore is a great solution for Making Tax Digital (MTD).
Other advantages of cloud accounting include:
- Reporting – Flexible reporting and departmentalisation of different aspects of your business. This makes it more easily achievable than many desktop alternatives
- User friendly – Designed so that you do not need to be an accountant to use them. Simply interfaces and dashboards keeping you up to date on the key financials of your business
- Bank feeds – Receive information from your bank daily, providing up to date records. It also provides an accurate view of your business position and performance
- Making Tax Digital – Quarterly reports will require submission to HMRC. This is most likely to be by 2020 for all businesses that cannot obtain an exemption. Cloud accounting can offer a potential solution to this new business requirement
- Multiple users across different sites – Data is held externally, rather than on your system. It is accessible from multiple locations simultaneously at any hour
- Collaborative working – Multiple users can also login and work in the data at the same time, helping bring your team together
- Tablets and phones – Most of our cloud accounting options work over multiple devices
- Access rights – Different access rights can be set for different users. E.g. A salesperson could raise invoices and receive payments without access to sensitive information
- Collect payments on the move – Invoices raised and card payments taken on the move instantly appear in your accounts
- Low monthly subscription costs – Monthly subscriptions ensure you are on the latest version of the software. This results in, accounting software obsolescence becoming a thing of the past
- Additional apps – There are hundreds of third party apps that integrate with cloud accounting systems. These include e-commerce tools, manufacturing modules and time sheet collection, Customer Relation Management (CRM) and Human Resources (HR)
- Support and link in your accountant – Instant online access allows quick response and assistance
- High level security – High level encryption technology. This ensures that your online accounts have levels of security similar to your online banking
- No reliance on hardware – No expensive server equipment is required, all your need is access to the internet and a compatible web browser for cloud accounting to function.
Which cloud accounting subscription is best for me?
We do not believe that one size fits all. Therefore, we help our clients assess and choose the right cloud accounting system for their business. Our partnerships include the brilliant software provided by Xero, QuickBooks Online, Sage One or Sage Business Cloud (formerly know as Sage 50 with Sage Drive). With a full review, we can help you find the right cloud accounting solution that suits your businesses needs.
Already chosen? Great, then get in contact and let us assist your get the most out of your cloud accounting package.
We have been at the forefront of the cloud accounting developments in recent years and will give you and honest and upfront appraisal. Our staff are trained in multiple cloud systems across the firm and we can further assist your business with accompanying services such as bookkeeping, management accounting, payroll and pro-active advisory.
We are able to assess and advise you regarding the benefits of cloud solutions. Additionally, we can also aid in the implementation and transition from desktop systems and avoid common trip hazards.
Once decided, we are able to offer substantial discounts on the retail price.
Taking you higher.