Top 10 Questions You Want Answered About Cloud Accounting
Switching to the Cloud
Many businesses would love to switch to cloud accounting, but there are still areas they feel uncertain about. As expert advisors in cloud accounting software, we’ve put together a list of the top 10 questions about cloud accounting.
What You Need to Know About Online Accounting
What is cloud accounting?
Cloud accounting for your business is a centralised method of managing your accounts, taking place through online software through an external server. All you need to access your data is an internet connection and a web browser.
How does it differ from traditional accounting software?
Traditional accounting software is usually desk-top based, and it can be accessed from on-premises computers on which the software has been installed. Online cloud accounting can be accessed anywhere, at any time and from any device.
What type of businesses use cloud accounting software?
Businesses of any size and from any industry need to manage their finances, so cloud accounting software can be used by all, whatever your turnover. You can choose a package to suit your size, paying a monthly subscription for what you need.
Will I still have the same functions available?
Yes - in fact, all your functions will now be in the same place making for easier integrations between them. This includes bookkeeping, payroll and online filing to HMRC, to name a few!
What are the benefits of online cloud accounting software?
There are a whole range of advantages cloud accounting gives businesses, but centralising your information online is one of most beneficial. It means you get a real-time picture and analysis of your finances when you need it, and collaborations throughout your team become more accurate and efficient.
Can it save my business money?
Yes. Not only will your financial processes become more efficient, but you’ll cut down on expensive IT and server costs which you previously may’ve performed internally. The cloud accounting vendor takes care of data backups, upgrades, licences and support as part of your subscription fee.
Is it secure?
Absolutely! Cloud accounting software provides the level of data security that would be difficult for many businesses to provide themselves. Information is located across secure servers in multiple locations and information is encrypted. All users have their own verification sequences to log on and, you can set restrictions on individual accounts.
Can my accountant use it?
Yes – this is one of the ways to get the most value out of your software. Your accountant can access your finances online, perform the processes they need to, and you can collaborate with them through the software.
Which cloud accounting software package should I choose?
Each business is different, so the right package depends on your setup and what will give you the most value. For example, Xero is great if you need to use a whole range of tools and applications, Intuit Quickbooks has straightforward and automated processes, and Sage One can be flexibly adapted to your workflow.
How can I get set up?
While we hope our answers have helped you understand online accounting more fully, a cloud accounting expert such as ourselves can talk through the most appropriate packages for your needs and guide you through the process step by step. Getting set up has never been easier!
Still Got Questions About Cloud Accounting?
Shackleton Stott provides businesses in Altrincham, Cheshire and other local areas with personalised cloud c-o-n-n-e-c-t services for all their needs. We’re certified advisors in three cloud accounting software packages meaning our expert advisors can provide a tailored approach whatever your needs. We’ll answer all your questions about cloud accounting and show you how to get the most value out of the software. We also provide a range of other services, including c-o-n-n-e-c-t payroll services which takes away the stress of payroll when you’re running a small business.
Whatever your requirements, get in touch! Just fill out our simple contact form, call 0161 939 0119 or email us at firstname.lastname@example.org.