Cloud based solutions to keep track of business finances

Desktop accounting software has been around almost as long as desktop computers however, these days many small businesses and individuals are looking at cloud based solutions to keep track of their business finances.

You’re probably getting tired of hearing the same old accounting software stories, therefore, we will spare you from this and instead give you a couple of the main benefits using cloud systems offer compared to the standard desktop systems most businesses still adopt.

To start with, one major advantage is the small monthly fees available for using the products, compare this to the hundreds or even thousands of pounds up front for desktop packages you can clearly see how this can help with cashflow management.

Many cloud accounting systems are easier to use than desktop packages because they are designed with small businesses in mind whereas traditional desktop systems are often designed for much larger businesses. It’s also worth noting that with cloud products, you will always be using the latest version of the software which means you’ll never need to download and install updates, or create regular backups!

Working in the cloud

Many online accounting systems also offer time-saving apps that can be used on smartphones and tablets which makes it easier for small businesses to manage their bookkeeping or invoice customers while on the move. With traditional desktop systems, this is usually done on one computer at a time, either in the office or at home which can be restrictive for many of today’s businesses.

There are many more advantages of working in the cloud so it will come as no surprise that there is a huge range of companies to choose from. The main players to look out for are Xero, KashFlow, QuickBooks, and FreeAgent and naturally, we have focused our knowledge and training on these packages and the various apps that link to them. 

Working in the cloud has revolutionised the accounting profession which in turn is having a positive impact on the relationships accountants have with their clients. Our role has changed, and for the better! Simply engaging an accountant to provide you with numbers at the end of the year is becoming obsolete, just like desktop accounting software.

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