Cloud Accounting

What is cloud accounting?cat1

In recent years bookkeeping systems have become far more user friendly, just like the internet.

These systems have been designed with you, the business owner, in mind so that they are easy to follow, offer value for money and they can be accessed from anywhere, anytime on devices such as tablets and mobile phones as well as laptops and desktop computers.

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Why should I use it?cat2

With cloud accounting, your accountant already has all of your information right at their fingertips!

No, they are not psychic, they simply log in to your accounts package using a secure password and they can see what you can, straight away! As if by magic!

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cat3How much will it cost me? What are the pitfalls?

Cloud packages have become very popular precisely because they are not expensive! They can cost as little as £10 per month (or even less in some cases!), with no hidden upgrades or support packages.

There are a few pitfalls:
 – Internet Access
– Simplicity
– Security

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What’s in it for me?cat4

The beauty of the system is that the information is real time, accessed anywhere, easy to use and very user friendly!

For example: Your bank manager wants to see your accounts?

No problem! An email can be set up to send them over, on say, a quarterly basis or more often if required.

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How do I get started? 

1)            Choose a software provider (we can help with this!)

2)            Set up your account (we can help you do this!)

3)            Set up your bank feed

4)            Get training on how to use the software

5)            Enter your transactions

6)            Reconcile your bank account and submit your VAT return

7)            Produce your accounts more regularly… Every week if you like!

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Which software provider?cat5

One of the biggest decisions if you have chosen to move to the cloud is choosing the software provider which is most suitable for you.

At Dodd & Co we have experience of working with clients who use a variety of cloud accounting software providers, including Quickbooks, Sage One, Xero, Freeagent and Kashflow.

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We’ve all been dealing with cloud packages since they were introduced, so we’re ready to advise and assist you!

As with everything at Dodds we’ve always been independent and the CAT is no exception. We won’t push you to any one particular cloud package, we will look at a whole range of what’s out there and advise you on what’s best for your business.

Contact our CAT team below or email kristina.gash@doddaccountants.co.uk to find out more.

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Oct 16

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We changed from our old accountants to Dodd & Co last year and not only did you offer the accountancy service for a cheaper fee than our previous accountants, but you have proved to be more pro-active in giving advice. We were recommended that we change the way we account for VAT and although this is not a huge saving per year, it is better in our pockets than the VAT man's. The main saving to ourselves is the time taken to complete the VAT returns. It was also suggested that we consider becoming a Limited Company rather than a Limited Liability Partnership and we are going to do this at the end of our financial year. This will save us more money, as it will reduce our yearly tax bills. We would recommend using Dodd & Co to any of our clients (or yourselves) and plan to do so in the future.
-- A L Robinson, Johnstons