Cloud accounting is a software that hosts your data on remote servers, enabling you to access your accounts through the internet. This information is stored ‘in the cloud’, meaning it can be securely accessed from any device at any location with access to the internet. This provides a safer method of storing your financial information than keeping it in the office.
Many businesses are moving away from more traditional desktop software and spreadsheet solutions and are turning to the world of intuitive online software. There are several innovative platforms to choose from and each has their own benefits, so it can feel a little daunting to start with.
That’s where RLTP can help. We have experience using QuickBooks Online, Kashflow, and Xero, and can help you to choose the correct solution for your business.
To find out more about the cloud accounting software we work with, follow the links below:
Cloud accounting software can help you to run your business smoothly. There are several benefits to switching to cloud accounting, including:
Easy access: access your accounts from anywhere with internet connection and at any time.
Data is secure: storing data in the cloud is actually one of the best ways to keep it secure. Without the login details, it is extremely difficult for someone to hack into your accounts, unlike desktop versions where files are easily accessible.
Data backup: cloud accounting removes any anxiety around computer breakdowns or needing to create regular backups of your accounts, as the cloud software does this automatically and can be accessed by any device, so you won’t lose anything if your computer crashes. This also keeps your documents safe from events of fire, flood, theft, and fraud.
Real-time information: automated bank feeds give you up-to-date information in real-time, providing a clear picture of your business’s finances whenever you need it.
Cost-effective solutions: there are no more large upfront costs, and for a small monthly fee the payments can be spread out. You won’t need to worry about disruptions from upgrades, maintenance, system administration or server failure, as this is all managed by the service provider.
Collaboration and sharing: you can add multiple users and tailor their permissions to suit their job role, so they only have access to the information they need. Your accountant can also be given direct access, which saves a lot of time and effort when preparing accounts for an audit or the end of the financial year.
Paperless office: if your business is working towards better sustainability, going paperless is a great start, and switching to cloud accounting is a step in the right direction.
Whether you are new to cloud accounting software or have been using it for years, you may benefit from some one-to-one training on the best way to use it. Choosing and setting up your software can be very time-consuming if you aren’t experienced or trained.
Our accounting experts can show you how to use your chosen software in the most efficient way for your business, saving your valuable time and money. We can support you through the whole process, including transferring your data across and ongoing support thereafter.