No more software updates. Automatic back-ups. And instant access for your professional adviser too. No wonder David Wilson of chartered accountants and chartered tax advisers Barnett & Turner has become a convert to the ‘cloud’. We accountants are not exactly renowned for being at the cutting edge of new information technology. The stereotype is probably of a cautious or boring bunch. Certainly not people who are known for taking risks. It’s therefore something of a surprise to see accounting firms jumping on the cloud accounting bandwagon. Those who have started to use the software, however, haven’t looked back.
So what is it about cloud accounting that makes it so much more appealing to businesses?
First of all, you’ll never have to install a software upgrade again. As the program no longer sits on your local computer, all changes and updates happen behind the scenes. At the same time, all your accounting data is backed up automatically, so if your computer happened to die, you’d still be able to access the information from another device.
The ability to see your accounting data at any time and in any place is obviously a huge advantage. (This means that if you’re sad enough to want to check your business finances while on holiday, you can pop down to the local internet café and look at the figures just as easily as if you were at home or in the office.)
And the same applies to your accountant. As professionals, we’re able to access your accounting data whenever we need to, without the requirement to exchange files.
Other notable advantages of cloud accounting include:
• the absence of jargon and the fact that there’s little need to master difficult concepts, as the software has been developed with the lay businessperson in mind;
• the ability to capture documentation, invoices or receipts through your smartphone or tablet and integrate them directly into the accounting data; and
• the facility to set up automated links with your business bank accounts and PayPal, with the data being pulled straight into the software – helping to eliminate errors and save time.
If you haven’t already made the leap, it’s worth talking to your accountant to see whether they’re already using the facility with other clients and to take their advice on the best platform to use.
If you would like to discuss anything related to this article please do not hesitate to call Barnett & Turner on 01623 659659 or email Jonathan at jwilson@barnettandturner.co.uk