The added value of switching to cloud-based systems such as Xero, Quickbooks or Sage One are clear. For starters, gone is the need to spend hundreds of pounds on purchasing accounting software. Cloud-based systems are paid for by monthly subscription, spreading the cost across the year and eliminating periodic upgrade costs. You are always using the latest version and there are no unforeseen future costs.
With cloud-based systems your accounts become instantly accessible from any internet connected device, so you don’t have to use a particular computer and mobile technologies allow you to have full access to your accounts wherever you are. And replacing your computer or laptop is obviously no longer an issue either. No need to worry about re-installing a system or interruptions to your bookkeeping.
State of the art encryption ensures that your data is always secure – more so than on a dated office PC and, because your data is safely stored across multiple secure servers, gone is the risk of losing information through a computer crash or the need to constantly back up your hard drive. With your accountant now able to get instant remote access to your accounts, help is just a call away if you get stuck; and posting year-end journals online for you ensures your system is always up to date. Perhaps more importantly your accountant can check the figures for your VAT Return or even file it directly for you through the software with HMRC, or prepare management accounts for you and, with full information about your business at hand, immediately help you with key decisions about your business .
In fact the advantages of cloud-based accounting are so great that, like the shift away from paper-based accounting 30 years ago, there’s really no doubt that it’s what we’ll all be taking for granted as the norm within a couple of years. To find out more about cloud-based accounting systems and the best solution for your business get in touch