WHAT IS CLOUD ACCOUNTING ALL ABOUT?
In a relatively short space of time, the internet has revolutionised almost every aspect of our lives. It has changed the way we interact and connect with family and friends, and even strangers. It has changed the way we shop, how we keep in touch with the world at large and how we manage our money.
This familiarity with these ‘cloud’ services, as they are known, stretches from our personal lives and into the business world. If you run your own business, club or just want to keep on top of your personal finances, cloud accounting might just be exactly what you’ve been looking for.
If you’ve never considered moving towards a cloud accounting solution, it can seem like a daunting experience. If you’re not particularly technical, even more so, but there are some incredible benefits in making the change. Let’s take a look at some of them.
It’s understandable to think that moving to cloud accounting will mean a seismic shift in how you work with your money. Despite incorporating the power of the cloud, accounting fundamentally stays the same even when it’s stored online, you’re just utilising the cloud to streamline the way you work, without affecting how you work. Checks and balances are still at the heart of cloud accounting.
The biggest advantage is that your data is stored remotely. The way we access and connect to the internet has changed enormously in recent years. More internet browsing is now done on a mobile device, like a smartphone or tablet, than a regular desktop computer. This helps you because your data is now accessible almost anywhere, by a multitude of people or any number of devices. You can check your accounts on the train, view your balance sheet in a coffee shop and create invoices while you lounge on your sofa. As long as you have a connection, your data is available to you. You’re no longer tied to software that only exists on your PC or Mac in the office, in fact there’s often no need for software at all. Cloud accounting has given you freedom to work anywhere you like and remain connected.
THE 21ST CENTURY SOLUTION FOR SMALL BUSINESS OWNERS
Having all your records stored remotely also means that your data is automatically backed-up. If your computer breaks, your phone gets lost or your tablet stolen, your data remains secure. Because nothing is physically stored on any of those devices, your valuable information is safe. You don’t even need to remember to back it up, as that will be done automatically for you. You’re always going to have access to the latest version of what you’re working on, which means that the information you’re seeing is as real-time as it can get.
From a business perspective, cloud accounting also makes sound financial sense. There is no capital expenditure to pay for new computers, servers or software licences. The cost is paid on an ongoing monthly basis, meaning you’re always getting the latest version and able to manage the costs month by month.
This also helps with cashflow as there is no bulk purchase needed to get you started.
YORK CLOUD ACCOUNTANTS HELPING BUSINESSES NATIONWIDE
If you’re ready to move off the fence and onto the cloud, the team at Business Dynamo are here to help you make the transition as smooth as possible. We have built an exceptional reputation by working closely with our clients to deliver the finest service possible. When it comes to cloud accounting, we use various options of software providers depending on your needs including Xero software, a very popular cloud accounting solution. Our specialist team are proud to be Xero Certified Advisors, so they’re with you every step of the way. Give us a call today and let’s see how we can help you with some genuine blue sky, cloud-based thinking!