What is cloud accounting and should I be using it?

What’s this about?The term ‘cloud accounting’ is nothing new and yet most of us are still trying to get our heads around exactly what cloud accounting is and what it can offer a business. In actuality, cloud accounting is really quite easy to get to grips with and can be exceedingly beneficial to use.

What is the cloud in the first place?The cloud is a platform on the Internet that allows services such as Dropbox and Xero to store all of your data and information in one place so that you can access it more easily and wherever you are, as long as you have an Internet connection.

What is cloud accounting?Cloud accounting enables you as a business owner to keep track of all of your finances wherever you are, whenever you want, on any device. You can see your cashflow in real-time and have a clear, practical overview of your finances in all areas, whether it be invoicing, expense claims or payroll.

It also means that you can establish a reliable, efficient relationship with your accountants and resolve any queries or issues much quicker.

Why should I consider cloud accounting?• Data is safer in the cloud than when it’s simply saved on your

hard drive – unreliable computer systems could mean that your data is corrupted or deleted unexpectedly.

• All of your data is also stored in one easy-to-find place. Cloud storage presents you with a far more structured and manageable system than standard filing systems.

• Its ease of accessibility means that you no longer need to spend hours of your spare time at the office dealing with accountancy matters – you can take the work home with you to do in comfort.

To find out more about this topic, why not read the whole article by following the link below:

What is cloud accounting and should I be using it?

What’s your next step?