Could cloud-based accounting be suitable for my business?

Cloud-based accounting software has been rapidly growing in popularity in recent years, with both individuals and businesses of all types taking advantage of the many benefits cloud software can offer. Ian Orgill, at CHW Bolton Accountants explains some of the ways how cloud accounting could help improve efficiency.

Cloud based accounting software gives you instant, easy access to your financial information. It is available wherever you have an internet connection, on any device – mobile phone, laptop, tablet etc. and most of the major providers (e.g. Sage, Xero, Quickbooks, Kashflow) have software which is user friendly, presenting data which is easy to understand.

You can instantly access any information you require enabling you to make informed business decisions wherever you are, whenever. This means no more second guessing or relying purely on instinct.

Cloud based accounting systems can transform the efficiency of bookkeeping and financial management. Rather than meeting with your accountant in person to go over your accounts, all parties can access the information via a secure log in and have a discussion any time and place.

Both you and your accountant receive real time updates on your financial circumstances and can identify and react to problems and recognise the need to change and improve on an ongoing basis. Consulting with your accountant once a year should be a thing of the past.

Time savings which can be made accessing and evaluating data are significant. Financial reports for meetings and day to day business can be generated at the touch of a button whilst you are on the go, and adapted to what you need, where and when you need it. Your data looks how you want it to, with dashboards and personalised reports – not your accountant’s prescribed format.

Cloud accounting is usually easy to set up. You don’t need your own IT team as everything is handled by the service provider saving you and your business time and resources. Cloud technology can be a more cost-effective option compared with buying and installing your own accountancy software package.

At CHW Small Business Accountants we have found that the use of cloud-based accounting software has allowed us to develop an even stronger understanding of our clients’ accounts and therefore their business. We can advise which the most appropriate software is, as it is important that you use the one which is best suited to you.  The sector you operate in, the number of users you require and other considerations could affect which provider you select – the reality is that some platforms will suit your business more than others. There are also hundreds of time saving add-on apps which can be selected specifically depending on your needs.

At CHW Small Business Accountants we are experts across all the key providers.

For advice on this or any other issue contact Ian Orgill at CHW Bolton Accountants on 01204 534031 or via email at Ian.orgill@chw-accounting.co.uk.


This article is for general guidance only. It provides an outline, and may not include points which are important to your situation. You should not depend on this blog without taking advice based on the full facts of your case. The information given was correct at the time of publication.

DID YOU FIND THIS USEFUL?

Share it with your network:  

Want more great content?
Sign up to our newsletter

    Follow us

    Tweets by @CHW-accounting

    CHW-Accounting
    @chw-accounting


    Twitter: chw_accounting

    Read enough?

    Want to find out how we can help you and your business? Get in touch today and let's have a chat.

    WHAT'S THE NEWS?

    Grab a biscuit and a brew and read our latest news.

    8 March 2022

    Temporary reduced VAT rate for leisure and hospitality to...

    by

    On 8 July 2020, as an urgent response to the pandemic, the government announced a number of VAT measures including a temporary reduction of the VAT…


    Read more >

    1 March 2022

    National Minimum and National Living Wage changes April 2022

    by

    From 1 April 2022, the government is increasing but the National Minimum and National Living Wage rates. The National Minimum Wage is the minimum amount an…


    Read more >

    22 February 2022

    Dividend taxes to rise from 6 April 2022 –...

    by

    The government has confirmed that it will not be backing down on the planned hike in National Insurance (NI) and dividend tax from April 2022. There…


    Read more >

    10 January 2022

    Late filing and late payment penalties are to be...

    by

    HMRC has given self-assessment taxpayers more time to ease COVID-19 pressures. With the self-assessment deadline less than three weeks away, many individuals and agents will be…


    Read more >

    7 January 2022

    Making tax digital for VAT – April 2022 –...

    by

    Since 1 April 2019, VAT-registered businesses with a turnover above the VAT registration threshold of £85,000 have been required to keep their records digitally and provide…


    Read more >

    YOUR CHALLENGES

    No matter what your challenge is, we’ve probably dealt with it before.



    Need an Accountant?

    Get in touch >


    Need an Accountant?

    Get in touch >


    Tax issues?

    Find out more >


    Tax issues?

    Find out more >


    Trying to grow your business?

    We can help >


    Trying to grow your business?

    We can help >


    Managing cashflow?

    We can help >


    Managing cashflow?

    We can help >


    Starting a business?

    We can help >


    Starting a business?

    We can help >


    Looking for funding?

    Need help with funding? >


    Looking for funding?

    Need help with funding? >


    Buying or selling a business?

    We can help >


    Buying or selling a business?

    We can help >


    Adopt the cloud?

    We can help >


    Adopt the cloud?

    We can help >


    What else can we do for you?

    We can help >


    What else can we do for you?

    We can help >
    CONTACT US

    Get in touch, no hard sell, just a brew, a biscuit and a chat.