Cloud accounting is the most exciting thing to happen in accounting in recent years. It has revolutionised the way we work, record information and maintain records.
Many businesses may already be using cloud accounting software as part of HMRC’s requirements under Making Tax Digital for VAT, which came into force in April 2019, but there are many additional benefits of using a cloud-based system.
Cloud accounting systems use servers that securely store information online so that it can be accessed by business owners and their advisers anytime, anywhere.
There are lots of clever apps and add-ons that link to cloud-based accounting systems. They can help with filing, electronically scanning expense receipts while you’re on the move and even automate your inventory control. We haven’t come across one that makes the tea yet – but it may only be a matter of time!
Transitioning to new software can seem daunting but our cloud accounting team are here to help. Whether you have an established family business or a start-up looking to scale up, we are able to provide a hands-on approach, ensuring your cloud-based system runs like clockwork and you and your staff are completely confident with how everything works.
We can also help you choose the right cloud option for your business and will also ensure that your processes are automated, saving you time and increasing efficiency.
We are proud to partner with Xero, Sage and Quickbooks. We also have an exciting partnership with Receipt Bank – an invoice and receipt automated data capturing software which integrates with all cloud software models.
Receipt Bank can also be used to record employee expenses making it easier for both you and your staff to keep track of expenditure. We can also advise what ‘apps’ and ‘add ons’ would be suitable depending on your accounting requirements.