Why you should adopt Cloud Accounting in 2017

by QuickBooks UK

2 min read

Cloud accounting is here and it may be just what you’re looking for. By processing your accounting information on remote servers, it provides you with more flexibility than doing your accounting with Excel or desktop software. Should you get your head in the cloud?

Rather than slaving away over spreadsheets, there is a new approach to financial management which enables you to stay on top of your business, get immediate insight and create invoices, leading to you getting paid faster, which in turn, impacts your cash flow.

QuickBooks Online is a cloud accounting software that will process all of your business information and present it back to you quickly, giving you the opportunity to get key insights straightaway.

In addition, if you work with an accountant, you don’t have to worry about losing important documents in the post – instead they can be sent directly to your accountant, via online accounting software, in a matter of seconds.

Cloud accounting is more popular than ever. 78% of UK Small Businesses are using at least 2 cloud based services already. Let’s take you through five key reasons you should consider a cloud-based financial management system:

It’s cheaper

Traditional desktop software cost quite a lot to install, and only work on one laptop. Instead, when using cloud accounting software, you sign up to a subscription service and can access your account from any computer, tablet or mobile device. QuickBooks Online includes free, unlimited UK-based customer support included with your subscription and you can get started for only £7.50 a month.

It’s easy to use

QuickBooks Online doesn’t assume a level of previous accounting knowledge. If you’re a dab hand at this already, there are areas which are clearly signposted within the product, meaning that you can get going straight away.

It increases productivity

One of the biggest benefits of QuickBooks Online & the cloud is the ability to be productive from anywhere. Through the cloud, you and your team/clients can have access to your accounting from anyplace at any time. QuickBooks Online also automates accounting functions like payroll, invoicing and accounts payable & receivable. Data from sales transactions, business expenses and inventory can all be automatically uploaded to the cloud, reducing manual data entry & costly clerical errors.

It saves you time

As your most precious commodity, time is always of the essence. How great would it be if you could manage your expenses whilst waiting for your next meeting? Or take a picture of a receipt for lunch and store it in your software while still at lunch? This can be done on the QuickBooks mobile app, which saves you a great amount of time, wherever you are.

It provides hassle-free security

QuickBooks Online offers security solutions that include firewalls, data encryption, multi-factor authentication and virus detection, all designed to keep your data secure. They deal with cloud security full time and are prepared to combat any online security issues that might arise.

Whether you are moving from frustrating spreadsheets or a traditional desktop solution, QuickBooks Online cloud accounting software saves you time and money and gives you the information you need to get ready at tax time, seamlessly.

Find out more about QuickBooks and cloud accounting here.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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