What is cloud accounting?

Traditional accounting software is based on your PC or local server. Whilst that's fine if you are based  in one place, you cannot access your data from anywhere else. Think about when you use internet banking. Every time you access this data, you’re using the cloud. The cloud is a platform to make data and software accessible online anytime, anywhere, from any device. Your hard drive is no longer the central hub.

 There are several problems with traditional accounting software:

• The data in the system isn’t up to date and neither is the software.
• It only works on one computer and data bounces from place to place. For example, on a USB drive. This is not secure or reliable.
• Only one person has user access. Key people can't access financial and customer details.
• It's costly and complicated to keep backups (if done at all).
• It's expensive, difficult and time consuming to upgrade the software.
• Customer support is expensive and slow.

How will cloud accounting make my life easier?

• You have a clear overview of your current financial position, in real-time.
• Multi-user access makes it easy to collaborate online with your team and advisors like us.
• Automatic updates mean you can spend more time doing what you love.
• Everything is run online, so there’s nothing to install and everything is backed up automatically. Updates are free and instantly available.
• Upfront business costs are reduced – version upgrades, maintenance, system administration costs and server failures are no longer issues. Instead, they are managed by the cloud service provider.
• All your data is securely stored and backed up in the cloud. So if your laptop is stolen, no one can access your data unless they have a login to your online account. And in the event of a disaster, business productivity doesn’t need to be affected because there’s no downtime.
• It gives you the flexibility to run your business from work, home, or on the go. You can be confident that you have an up-to-date picture of how your business is doing, no matter where you are.

To find out more why not get in touch?