Cloud accountancy is the latest craze to take the small business world by storm, streamlining your finances by making financial operations easier and more efficient. One of the most recent notable Cloud Accounting software to impact the UK is Xero [Zero], which was developed from the other side of the world in New Zealand. By connecting your business’ finances, your accountant and your banks cloud accountant software, cloud based accounting brings a new age of accounts management.
The ‘Cloud’ is the new way of storing, sharing and adapting files on your computer. For instance, you can join a cloud service such as Google Cloud or SkyDrive and store your excel sheets and other documents securely online. This has been adopted by accountant software companies who have designed their software to link your finances to the cloud.
Unlimited back-ups – You never have to worry about losing your documents as they are stored safely online. You will also be able to retrieve historical versions of your files so even if you save over a file wrongly, you can restore it back to a previous save.
Easy Accessibility – Not only can you access this new type of software from any PC you want to use it on (home/work/partners house) but you can also view and use the software on your smartphone or tablet.
This video shows how you could use the Xero accountancy software on your smartphone. Your cashflow will be viewable when you are on the move and the video shows some of the useful little tricks which make your life easier such as taking pictures of all your receipts so you avoid any mystery costs which may crop up from lost receipts.
Secure – One of the problems with storing things online is the constant threat of hackers and viruses. The advantage of the cloud system is that the owner of the cloud, ie, Xero, will be dedicated to keeping security up to date and anti-virus software’s in place. This gives you the peace of mind as you know that your files and data are kept securely under the watchful eye of the cloud accountancy owner.
Automatic Updates – Similarly with the owner of the cloud software keeping your security up to date automatically, any updates to the software such as new formula to help forecast cashflow is automatically put in place. This stops the requirement of having to learn technical skills to update and upgrade software to save you time and stress.
Inexpensive solutions – Products such as Xero have packages starting from as little as £12 a month, making it no more expensive than other offline accountancy software.
Online Data Feed – These feeds come direct from your bank and accountant as you complete transactions instantly, on your office computer or on the move.
There is no doubt that cloud accounting is the future for accounting. Xero in particular has some great reviews (if you do read the review in the link, make sure you read some of the comments too).
Above all else, cloud accounting is affordable, easy to learn and saves your precious time so you can continue doing other vital activities to improve you business and increase your sales.
If you want to find an accountant using cloud accountancy, we can help. By providing you up to four quotes from cloud based accountants you will be able to choose a best fit accountant for your business in your local area. We are free of charge and have no obligations for you ultimately sign up to an accountant. To get started, fill in a quote form and one of our experts will find you the right cloud based accountant for your needs and expectations.