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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Jul 15

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Cloud accounting provides us with a real time view of our business accounts at anytime and from anywhere. Sales and purchase invoices are easy to input in a user friendly way, and the bank account link allows us to pull across electronic bank account statements automatically. Reporting in cloud is so easy and at a glance the dashboard shows account balances, invoices owed to you and bills needed to pay, straight away highlighting any action required. You can quickly see the profit and loss account, balance sheet and all other reports, and can drill down into individual transactions. Our main server has also moved to the cloud, which has revolutionised the way we manage our business. As a small business with a couple of employees it allows us to spend more time tending to clients and less time managing accounts and systems, allowing us to work at home or on customer sites without having to go back to the office. The savings and benefits are SO DRAMATIC and INSTANT in terms of time required for data input.  Time spent on all of this is now LESS THAN 2 HOURS PER WEEK, and this would be impossible with our old systems and procedures.  Our profitability has increased too as we can now spend more time working on projects rather then admin.  Mike Potts, Ashwood Design

 
-- Mike Potts - Ashwood Design