Cloud accounting, is it time you made the switch?
For many small businesses, bookkeeping and credit control can be a total nightmare. More commonly for those who run their own online shop but also sell their products over the counter. Many business owners still use stand-alone systems such as Sage Line 50 which runs from the old PC in the corner that no one but the accountant dares turn on.
A few years ago we decided to move away from a stand alone system and explored the cloud accounting world. Since then, we’ve not looked back. Here are five things that made us move, could you do the same?
- Real time information, at your finger tips – Using cloud accounting will give you access to real time data, so at any point you will know the exact financial position of your business. From what you owe out to how much VAT you owe to Mr Cameron and his constituents. This is invaluable information and in today’s world I feel it’s crucial to have access to this. Having such information will allow you to be more efficient and plan better.
- Flexibility – Cloud accounting allows you to run your business from anywhere in the world. Most platforms now support mobile devices and tablets allowing you to invoice on the go. KashFlow, a platform that we have used for quite some time now actually features automatic credit control which means that you do not need to carry out the mundane task of chasing your clients for money, simply let the system send out an email two days before the payment is due and others if the payment is not received. It’s amazing just how effective this can be.
- Save money – Going on personal experience, we save approximately £3000.00 a year by using cloud accounting. Day to day bookkeeping can be carried out in-house by practically any member of the team. Our VAT returns are automatically created and submitted in the press of a button.
- Efficiency – You can quite easily integrate your cloud accounting package with an online shop or EPOS system, practically giving you one system to run your business. Just think about that for a second, just how efficient could you become?
- Superman like powers – Although we cannot prove this, there are rumors saying that certain cloud accounting users have acquired superman like powers after having the weight of bookkeeping lifted off their shoulders. For me personally, KashFlow was my Kryptonite and when I’m not out saving the world, I’m running my business more efficiently and can now sleep like a small puppy dog.
So, as you can see, it was a good move for us. Could you do the same within your business and receive the same rewards? I think so….
To find out more about Cloud Accounting and how we can help implement this into your business, website or online shop please do not hesitate to get in touch with me on 01623 650333 or simply drop me an email.
Alternatively, you can find out more about the platform that we use on the KashFlow website.