Online Accounting
We have been using digital accounting software for over 20 years, during which time increasing numbers of business have transitioned to online cloud based accounting solutions to make their accounting process easier, more secure and more efficient.
With the introduction of Making Tax Digital, paper records will become a thing of the past as the use of technology to maintain accounting records will no longer be an option. Digital systems will shortly become compulsory for almost everyone and a cloud accounting system is the best way to achieve compliance with HMRC’s Making Tax Digital regulations.
LJ Accountancy is perfectly poised to help small businesses to make the most of the
benefits of cloud accounting. We can:
- Help you to choose the right software for your business and set it up.
- Offer ongoing support and online accounting advice.
- Collaborate with you to monitor and review your data.
We work with a range of software providers because we are committed to giving our clients more choice and the setup that works best for them. We have partnerships with the biggest names in cloud accounting, and maintain expert knowledge of the current Sage, Quickbooks, Xero and Kashflow platforms.
The main benefits of a cloud based system are as follows:
Accessibility & Mobility
You can access your accounts anywhere with an internet connection, from a computer or from an app on your mobile phone or tablet. So you can run your business on the go.
Ease of Use
Cloud-based accounting software is easy to use and navigate as they are designed for business owners with no previous accounting experience to use. Double-entry accounting effectively happens behind the scenes.
Automated Entries
Many of the key bookkeeping tasks are automated, saving you hours of time entering data or having to pay a bookkeeper to do it for you.
Reduced Paperwork
Cloud accounting can deliver the dream of a paperless office. Invoices can be emailed directly to customers, incoming bills and receipts can be scanned and saved directly with the associated transactions in your accounting software.
Share & Collaborate
Working with colleagues, and sharing data with your advisers, is an extremely straightforward process. You can all access the same figures instantly, from any geographical location. Collaboration is as easy as picking up the phone and logging in, with the key numbers in front of you.
Better Control & Information
The efficiencies of cloud accounting software give you greatly improved control of your core financial processes and its easier to keep your figures up-to-date so that reports you view are in real-time. For example, you will be able to see an overview of money you owe and get a clear breakdown of what each customer owes your business.
Data Security & Back Ups
On a cloud platform, your work is encrypted and saved automatically as you go, so you don’t have to worry about back-ups. Software updates are no longer required either as you are always logged into the most up-to-date version of the software. Cloud based software comes with built-in security features and is hosted on remote servers.
Price
Generally, cloud accounting means paying a small monthly subscription fee. Most of our clients pay between £10 and £30 per month. You do not have to pay for expensive licence fee up front and are not tied into a contract. Unlike desktop-based systems you do not have to invest in IT hardware or maintain servers or networks.
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