Cloud Accounting
Cloud accounting Sheffield, Chesterfield, Buxton, Rotherham and Knaresborough – a 21st Century solution.
Forthcoming legislation will force most types of business to keep track of their tax affairs digitally and update HMRC at least quarterly via a digital tax account.
For those businesses that don’t have the relevant in-house expertise this is likely to mean more work for their accountants, and more cost for their business.
We believe there is only one way to keep those costs to an absolute minimum and that is to invest in the new generation of accounting software: cloud accounting.
Until recently we would have advised our clients that traditional accounting software packages such as Sage Line 50 would be better for all but the simplest of businesses, but not any longer.
Cloud accounting solutions are now fully developed, tried and tested, and they are a huge improvement on what has gone before.
We are therefore recommending our clients should switch to a cloud system now. We provide cloud accounting services in Sheffield, Chesterfield and Rotherham.
The following is a summary of the main benefits of cloud accounting:
1.Save time and costs
Cloud accounting software incorporates new technology which speeds up manual processes, such as:
- ‘bank feeds’, which mean your bank account is reconciled automatically
- instead of manually inputting purchase invoices you can simply scan them onto your purchase ledger
- similarly, it is possible to photograph an expense receipt on your mobile and upload it automatically to your accounts
Less manual processing means less paperwork and lower costs.
2.Enable your accountant to be more proactive throughout the whole of the year
Your accounts will be stored in the ‘cloud’ rather than on your own pc/ server, thus facilitating access from anywhere that has an internet connection (Laptop, PC, Phone, Tablet), and by multiple users in different locations.
The cloud therefore makes collaborative working much easier; for example:
- your or your staff could be working on the accounts at the same time as us,– e.g., one of your staff members could be inputting sale invoices whilst we are amending the expense analyses for tax purposes or preparing year end accounts,
Or
- if you have been working on the accounts out of office hours and have a query that you need us to help with, you can simply type it into the accounts package itself and notify us of your query by email – e.g., ‘not sure how to categorise this expense, can you please update accounts appropriately?, or ‘not sure why stock figure is x’’ – you can then update your accounts if appropriate, and we can advise as soon as you are back in the office
Or
- by adding Skype into the equation, it is possible to have virtual meetings to discuss accounts issues ‘face to face’, even if each party is at opposite end of the country, provided they each have internet access.
3.Maintain up to date Management Accounts – which means better decision taking and improved profitability
Points 1 & 2 above can result in almost ‘real time’ management accounts which help you to make better informed management decisions and that should lead to increased profitability.
4.Forthcoming legislation will force most types of business to keep track of their tax affairs digitally and update HMRC at least quarterly via a digital tax account.
For those businesses that don’t have the relevant in-house expertise this is likely to mean more work for their accountants, and more cost for their business.
We believe there is only one way to keep those costs to an absolute minimum and that is to invest in the new generation of accounting software and join the cloud.
5.Additional benefits
- a very ‘user friendly’ Interface
- numerous industry specific add ons (e.g. CRM, integration from till systems, POS)
- direct feeds and integration with bank/credit card/PayPal accounts ((two way) i.e. you can submit a list of supplier payments to your bank from your accounts package for them to send the money direct to your suppliers
- customisable management accounts reports at the click of a button
- customisable business ‘Dashboards’, highlighting what each user is most important to their role in the accounts process
- tailored automatic invoice reminders to automate the debt collection process
- set up personalised messages e.g. ‘Thanks for the payment’ to enhance customer experience
Fixed fee packages
We offer fixed fee packages to get you started on the cloud, with the ability to upgrade at any time as your business grows. You can access as many of the below services as your business requires:
| Set up of Xero Account | Skype support | Conversion to Xero |
|---|---|---|
| Annual Accounts | Monthly or quarterly Business review | Xero set up |
| Annual Return | Monthly or quarterly Skype meeting | Receipt Bank set up |
| Personal Tax Return | Annual Business Planning | Receipt Bank Bookkeeping |
| Business Tax Return | Annual Cash-flow Forecasting | Director and Employee Payroll |
| Quarterly review | Training for your team | Credit Control |
| Instant messaging | In-house virtual Finance Director | Further bespoke training |
| Email & Telephone support | ||
We understand that not every business is the same, so we will work with you to establish a bespoke package that suits your specific requirements.
Please telephone 0114 2664432 to discuss your cloud accounting requirements in Sheffield, Chesterfield, Rotherham, Buxton or Knaresborough or email your enquiry to [email protected]
