Cloud accounting works seamlessly across all devices and is used by micro businesses, right up to large corporations and is becoming more and more popular.
You most probably already use ‘the cloud’ if you have an email account whereby we can log in anywhere in the world, on any device and carry on as if we were at our own desk? This, in essence is how cloud accounting and bookkeeping works – your information is stored securely so you can access it anywhere, with the massive benefit of everything being backed up.
There are many software companies offering cloud bookkeeping solutions and some will fit your business better than others, so it is important to evaluate your needs. For example, will you need inventory control as part of the package? A good accountant with cloud software experience will be able to show you various options and help you decide which one is best for your circumstances.
In today’s fast moving world, where a business can be started easily at home and run on the go, or even after a hard days work at the ‘normal’ job, cloud solutions are a massive time saver. Not all entrepreneurs operate from 9am to 5pm…some could be in London during the day and running their business in Sussex by the evening. With the cloud, you can keep a track on how your business is performing continuously.
Some of the benefits of a cloud accounting solution include a big reduction in manual input, easy tracking of expenses; thus avoiding that heap of receipts at the end of the year, a snap shot of who owes you what, as well as an up to date profit and loss. Not to mention more collaboration between you and your accountant to make your business as successful as possible.
Some of the software companies you may like to look up are: Quickbooks Online, Clearbooks and Xero.
If you need any guidance or training on your existing software, feel free to get in touch.