Top 5 Reasons Cloud Accounting Is Good For Business
And how it saves you time and worry ...
POSTED BY ROGER EDDOWES ON 11/06/2018 @ 8:00AM
Accounting and bookkeeping. The equivalent of four-letter words for many a small business owner. When you mention either, visions of boxes of receipts, overdue VAT returns, and late nights immediately spring to mind ...
Cloud accounting is good for business and here are five top reasons why!
copyright: kantver / 123rf stock photo (licensee)
But it doesn't need to be that way. Really! There are superb digital solutions out there that enable accountants like us to help you ... and they don't cost the earth.
"Sounds good? Read on!"
Every business, be it large, small, or micro, needs up to date management information. Having access to an overview of your financial situation - and being able to share that information easily with your colleagues - makes a huge difference to how agile your enterprise can be.
As a facilitator, the internet is the key; for that's effectively what cloud accounting is using ... the internet, just very very securely. But if everything seems to be working well for you, is it still worth making the switch from a manual or office based system?
Let's have a look at the top 5 reasons cloud accounting is good for a business:
Cloud accounting helps your accountant to help you
First off, it helps to reduce the costs of bookkeeping. You can do a lot of it in-house, quickly and easily, and many tasks that were once manual can be automated. But secondly, cloud-based accounting means that accountants like us can focus on analysing your figures and advising you, rather than spending our time just producing them.
Managing cashflow is key to the success of any business
So, as cloud-based accounting can provide up to date, real-time information instantly, it really is what you need to track things. By teaming up with your accountant to use a cloud-based accounting system, you're enabling both you and your key financial adviser to have access to critical information 24/7. That means you can make instant decisions on important purchases and not be held up waiting for a report to be produced manually.
Collaboration with colleagues becomes much easier
Whether you're in the office, at a meeting, or working from home, a cloud-based accounting solution gives you access to all the information you need, when you need it. No time is wasted requesting, waiting for, and chasing reports and documents. You can get the figures; all you need to do is make use of them!
Cloud accounting providers keep your software updated
Software upgrades and security patches are both things that are managed and updated by your software supplier. And that then leaves you free to just get on with running your business. Updates and upgrades are often all part of your monthly subscription, so you don't have to pay extra for them. And they happen behind the scenes without you needing to worry about compliance headaches.
The pain and time spent on backups are removed
Cloud-based accounting software is backed up automatically, so you don't need to worry about forgetting to schedule a backup.
At Essendon, we have many years' experience doing what we do, and we've found cloud accounting to work very successfully for our clients. Most solutions remove the fiddly everyday strain of bookkeeping and mean a business owner can enjoy running their business without that stress.
But with all that said, we feel one thing is worth reiterating: what makes cloud accounting solutions really stand out as a benefit, is that they free up our time up so we can focus on helping you achieve your personal and business goals. And that really is win/win for everyone.
"Would you like to know more?"
Like the look of that? I thought so. If you'd like to find out more about why cloud accounting is good for business then do give me a call on 01908 774320 or click here to ping me an email and let's see how I can help you.
Until next time ...
If you're looking to work with a leading firm of accountants, then why not visit our website which you can find at www.essendonaccounts.co.uk and let's see how we can help you!
Roger trained at Edward Thomas Peirson & Sons in Market Harborough before working at Hartwell & Co, followed by Chancery, as a partner. He started Essendon Accounts and Tax with Helen Beaumont in 2014 as a general practitioner with a hands-on approach.
Roger loves ‘getting his hands dirty’, working with emerging, small-to-medium and family businesses to ensure they receive the best possible accountancy advice. Roger utilises an extensive network of business contacts to leverage the best guidance and practical solutions.