The importance of Cloud Accounting Systems
Critical business information in real time is now more than ever what every successful business has… it’s your finger on your business pulse.
You need to know the key numbers… Not the numbers in last year’s accounts; they’re out of date… Redundant!
You need today’s numbers and here’s why...
Your modern cloud accounting system gives you the following benefits:
- It saves you a huge amount of time,
- Gives you 24/7 access to up-to-date financial information and reports (you can use cloud-based software from any device with an internet connection),
- You can sleep at night knowing your sensitive financial data is always secure and backed-up automatically,
- No system downtime because all software upgrades are automatically installed. This worry-free maintenance saves you time and hassle,
- It reduces your accountancy fees because it makes it easier for your accountant to produce end of year accounts, and
- Since your accountant can access your data 24/7 you get more value from an accountant – they will help you run and grow your business rather than just adding up the numbers.
In short, your cloud accounting system will make your life so much easier and give you the critical numbers for your business in real time.
Now the bad news…
Your first problem is deciding which cloud accounting system to adopt for your business. There are a myriad of different systems. They are all different. Some are better than others. Some suit different types of business. And getting the wrong solutions will cause you a big headache. Assessing all of the options is time-consuming.
Then, once you’ve settled on the best system for you and your business you have to set it up.
Unless you’re familiar with setting up accounting systems this typically takes a full day or more. Not only do you have to enter all the key details of your business (accounting year end date, VAT registration number and so on) you also need to set up you chart of accounts (that’s the specific types of sales, income, expenses, assets and liabilities unique to your business). And once that’s done you need to transfer any opening balances.
Whilst you can do that yourself, your time is precious and valuable. So we recommend you talk to us as we specialise in cloud accounting.
And... you don’t even need to be in the same part of the UK we can set it up online for you