What is cloud accounting?

Most people in business are on the go 24/7! As a result, it’s a good idea to be able to know what is happening with your finances at any time. Cloud accounting software allows you to manage your financial accounts on the move and file expenses, send invoices and create reports whenever you need to. Most accounting packages are all-in-one platforms allowing you to manage cashflow, invoicing, payroll and reporting all from your internet-connected device. The secure software is a modern and efficient way to manage cashflow without manual calculations and timely reporting that you would traditionally need to do to view your current cashflow status.

There are many platforms out there to help you manage you accounts but some of the most popular for small business owners include:

  • Xero – All-in-one platform with simple user-interface and affordable pricing for small businesses.
  • Kashflow –  All-in-one package that is quick and easy to set up. This application is designed with small businesses in mind.
  • Sage – Accounting software tailored to your individual needs with various products for your business type.

Cloud accounting has seen a massive growth in popularity over recent years; it is useful as it can save you vast amounts of time and gives you the opportunity to grow your business in a more efficient manner.

Support when choosing an accounting software

Choosing the right cloud accounting software package will save you time and money, but if you haven’t got experience using online accounting applications, it can become a bewildering and stressful experience. Most accounting software packages offer a trial period to help you decide what application works best for your business. Feel you need some extra support from a cloud accounting specialist?

We can help you decide which cloud tool is best for your business in the following areas:

  • Deciding which software will be suitable for your business, depending on the activities you are carrying out
  • Help you with the setup, choosing the correct nominal from day one
  • Provide training for you when/if required.

The majority of cloud account banking is automated. This saves you the time spent inputting your financial data into the system. The other main advantage of using cloud accounting is that you can access your accounts using a mobile device. This has become a big plus point in recent years due to the ever growing use of on-the-go technology.

Losing important financial data can be a nightmare for any business. Cloud accounting provides the ability to have all of your account data backed up automatically, online, on a secure server.

If you are considering switching from your current accounting package, we will be there to assist you when transferring data. We have experience working with various cloud accounting packages such as Kashflow, Xero, ClearBooks and many more.

If you need assistance or require further information about our accounting software support, please feel free to contact us.

To discover more of what WKM Accountancy Services offers, visit our services page.