Cloud accounting (or online accounting) has the same functionality as traditional desk-top accounting software but sits on the cloud rather than your office desktop.
This means you can access your business data anywhere, anytime. Cloud accounting is web-based, allowing you to access your business finances from your laptop, phone or tablet.
Most Cloud platforms offer bank feeds directly from your business bank account, helping to automate time-consuming processing tasks as well as providing you will real-time information. All this gives you more time to focus on growing your business.
Top 10 benefits of cloud accounting for your business
Access your business data anywhere, anytime.
No need to send back-ups to your advisors, as you can share access through the cloud.
Live data allows you to make effective decisions about your business.
Automated data entry
Business accounts can be linked to your Cloud solution allowing automatic bank feeds, reducing manual input.
Cloud software is HMRC Making Tax Digital compliant.
Standard packages start at just £20 per month.
No need to worry about memory space or backing up, data will be stored/backed up in the cloud.
With the ongoing expansion of new features available on your mobile, you can upload data on the go.
Invoices and receipts can be uploaded to the cloud, eliminating the need for paper copies.
Make use of the App market to link relevant Apps to your Cloud solution, again reducing manual input.
Cloud accounting resources
Xero training videos
Xero is a powerful online accounting software solution. Run things smoothly, keep records tidy, and make compliance a breeze.
If you’re new to Xero and need help with the basic steps, we’ve put together a selection of Xero video tutorials below to help you get the most out of the cloud accounting software.
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