ashflow, Xero, Quickbooks, Freeagent – there are a number of market leading cloud accounting software platforms available to small businesses, all performing roughly the same functions. With the advent of the government’s Making Tax Digital (MTD) project, the use of cloud accounting software is soon going to become less of a benefit and more of a necessity.
For any business still currently keeping paper records, it is imperative that they start looking at moving to a cloud system sooner rather than later and, most importantly, ensure that their accountants and book-keepers are competent enough to perform the transition, set up the system and ensure its efficient real-time use.
While these systems carry a small monthly cost, at an average of around £30 per month, we believe the benefit derived from operating with real time information and positioning your business in advance of MTD make the subscription fee immaterial.
- Cloud based accounting systems offer a number of advantages to the business manager including; real time profit and loss report, real time debtor and creditor information, electronic invoicing, automatic link to digital banking (meaning no more bank statements), automatic links to EPOS systems, payroll integration and smart phone access
- Our teams of accountants and book-keepers are experts in most of these systems and have been converting clients onto could-based book-keeping platforms for some time. We have now taken the bold step to go fully cloud-based and are confident that there is no better time than now for paper and off-line businesses to take the leap with us.
- As a business owner you will be at an advantage by implementing cloud based accounting, especially in terms of being able to view ‘real time’ reports and fully utilising digital banking to banish paperwork forever.
Find out more about digital banking, Making Tax Digital (MTD) and Bitcoin and Crypto Currency Taxation.