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Top 8 Reasons to Embrace Cloud Accounting

page3 21. Available 24/7. Easy access anytime, anywhere with just an internet browser. No need to worry about which operating system you use to access your software. Accessible from your PC, laptop, Mac, tablet, iPad or any mobile phone. In the office, on the move, at home or even on holiday, your financial information is always available to you.

2. Easy to understand and intuitive to use. Written with the Cloud in mind rather than based upon a traditional PC software means the language used is modern and easy to understand compared to the traditional software which used confusing accountancy jargon.

3. Easy to test and experience for free. Most Cloud systems allow you to play with the software for up to 14 days (and sometimes longer) completely free of charge and with no commitment.

4. Once you do decide which cloud based software is best for your business you just pay a small monthly fee. There is no need to buy expensive software and pay upfront. The small monthly fee also includes all upgrades, updates and back up. No annual contract so you can cancel at any time.

5. Cloud based software links to Apps which can improve the accuracy of your data inputting such as:

a. Create and send your sales invoices while on the move from your mobile phone and the system tells you when they are opened by your customer.

b. Automate credit control by emailing reminders direct from the system.

c. Bank streams (reconcile your bank by importing data directly from your bank, credit card or PayPal and reconciling at the touch of a button).

d. Receipt photography where you can record expenses on the move and which saves your receipts as PDFs next to your transactions.

e. Many of the Cloud based systems link to industry specific Apps such as construction, manufacturing, property, retail and many more.

f. Combine payroll and bookkeeping for reduced manual data entry with less errors and greater accuracy.

6. Have totally up to date “live data”. Rather than basing decisions on historical data you will have instant access to “live data” so you will see at the touch of a button a true and up to date picture of exactly how your business is doing. Your accounts instantly reflect the latest transactions. You can then share data with your accountant leading to better communication and faster, more effective decision making. Your accountant therefore spends less time on tidying up your book keeping and more time on the really important tax planning, business advice and financial advice.

7. Risk reduction – your data is automatically backed up by the software supplier so you never have to worry about losing your data. Upgrades and updates automatically applied for simplicity and efficiency.

8. And finally it will be the only way that you will cope with the demands from HMRC for quarterly accounting information from 2018 onwards.

We have chosen to work with the 4 main cloud based accounting systems being:

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But cloud based accounting is an evolving market place and we will happily work with any cloud based software so if you are considering using another package please give us a call. Our knowledge of numerous accounting software packages gives us the flexibility to help businesses who use some of the less well known products. And we are not just saying this. The four business awards won by wood and disney have all been for Innovation and Technology with the latest being a Uk award on 15th October 2015 at the 2020 Group of Accountants national conference at the NEC. We won the award for "Most Innovative 2-4 Partner Firm 2015".