Benefits of Cloud accounting for small business
benefits of cloud accounting

In the mobile digital age we now all live in Cloud Accounting has seen significant growth. All the top accounting firms and software providers have developed on line products which has transformed the world of accounting not least the relationship between accountants and their customers .These two parties no longer meet just once a year when the accounts fall due but can remain in regular contact throughout an accounting period with the accountant being in the position to conveniently review accounting records as and when necessary and provide customers with instant assistance, advice and guidance.

Listed below are some of the underlying advantages of Cloud Accounting which have contributed to its successful growth:

  • Allows access to accounting records at any time;
  • Expense receipts can be scanned when the transaction is incurred and immediately accounted for;
  • Sales invoices can be emailed to a customer the instant work has been completed which can lead to customers paying sooner;
  • The collection of debts is made easy as customers can make payments by clicking on a pay button situated on an emailed sales invoice;
  • An online bank feed can be created which allows bank transactions to be swiftly accounted for;
  • The overall ease of accounting for transactions means accounting records will show an up-to-date view of the financial position;
  • Viewing real time financial information will allow better informed decisions to be made on a day to day basis;
  • As previously alluded to, collaborating with accountants is made easier as they will have real time access to accounting records. This makes the process of dealing with VAT returns and year end accounts simpler and less time consuming and costly;
  • Documentation is held in digital format significantly reducing paper in the office and so creating more space.

If you are interested moving your accounts to the cloud, contact Invicta Accounting today for a free, no obligation consultation on 01624 672358.