Cloud (or Online) accounting software is fast replacing traditional desktop versions for small to medium sized businesses. In addition to the benefits it offers, the government are mandating the use of digital accounting records, starting in April 2019 (for VAT – subject to legislation), and will eventually require quarterly returns for all but the very smallest businesses.
We are partners with the leading suppliers of this type of software; Xero, Quickbooks Online and Sage One.
This type of software can offer a significant number of benefits including;
- Greater collaboration with us, your accountant – As the information is online in the cloud, we can access your software in real-time to give you advice, solve accounting queries or review information prior to submitting a VAT return (or future Making Tax Digital requirements) without making date backups to transfer data to us. It also enables us to easily take away from you some, or all, of the burden of bookkeeping. For instance, you can raise sales invoices, but we could manage the purchases and expenses, releasing you to do the important job of running your business.
- Monthly subscription and always up to date – The software is always up to date, with no annual upgrades to be purchased. There are regular improvements made out of normal working hours, which are communicated to you in bite sized pieces, allowing you to take full advantage of them. The data is backed up for security by the software provider, and is all taken care of in an easy monthly subscription.
- Easy to use – Although some of the suppliers have traditional desktop software, all the online software has been designed for use online and to be accessed via different devices, such as phones and tablets on the go (email a customer an invoice whilst you are with them!), as well as pc’s and laptops. They are very user friendly and are simple and engaging to users.
- Automation – Gone are the days of entering bank transactions into your software. You can save time by importing transactions directly from your bank, meaning fewer errors due to mistyping, or missing transactions. The software also remembers your recurring payments and receipts and will suggest the correct category to use.
- Paperless – Are you fed up with paper filing? If you want to, you could scan your paperwork (or even take a photo on your smartphone) and attach it to the transaction in your software. No hunting for lost information months later. Clever technology using add-on’s to the software, such as Receiptbank, will even recognise all the details on your invoices and till receipts and can enter them onto the software for you.
Moving your bookkeeping onto a cloud based software is simple. You can even transfer two years of data from a previous desktop software.
Contact us today for more information and to discuss which software provider would suit you.