How can cloud accounting help my business?

– Let’s face it,
bookkeeping can be tedious. As a business owner, it can suck up far too much of your time and effort. This doesn’t add value. It takes the fun out of being in business. Hi, I’m Jon Davies, and I’m gonna tell you how switching to cloud accounting can save you time and make you money. So what’s the cloud all about? Well, think about when
you use internet banking. Every time you access this
data, you’re using the cloud. The cloud’s a platform
to make data and software accessible online anytime,
anywhere, and from any device. Your hard drive just isn’t needed. Some of the issues of traditional
account software include there’s a time lag, the
data isn’t up to date, and neither is the software. It only works on one computer, and data bounces around
from places to place, for example, by email or on a USB drive. This isn’t secure or reliable. It’s a hassle to back up the
data, and it can be expensive. The software always needs upgrading. These can be difficult, time
consuming, and expensive, and it can lead to issues over compatibility with your advisors. Only one person has user access. Key people can’t access
financial and customer details. So why are the cloud and accounting software a perfect match? Well, you can use cloud-based
software from any device with an internet connection:
computer, phone, or tablet. Online accounting means you
stay connected to your data and to your accountant. It’s cost-effective and easy to use, and it can link into loads
of other applications. If you use cloud accounting
software, you no longer need to instal and run applications
over desktop computer. You pay a monthly
subscription for the software and upgrades are done
automatically in the background. But is it secure? Well, as a business owner,
you might be worried about the security of your data. The cloud is actually one
of the most secure ways to store information. The software and the data no
longer live on your hard drive. This means that, for example,
if you do lose your laptop, no one can access your data
unless they have a login to the online account. If there’s a fire in the office, all your information’s safely
and securely stored offsite. As long as you have internet access, you’re back up and running immediately. In addition to this, you can control the level of access you
give to any other users, whether staff or external advisors. This is far more secure
than the old-fashioned way of emailing your files or sending out a USB stick
with your data on it. Cloud-based software
companies ensure the security and privacy of data is always airtight. If you use online banking, then you’re already primed
to use cloud accounting. So, work flexibly and smarter. The best thing about the cloud
is the flexibility it gives you to run your business from
work, home, or on the go. You can be sure you have
an up-to-date picture of how your business is
doing, anytime and anyplace. Software updates are delivered quicker and more easily in the cloud. This means you don’t have to worry about constantly installing new versions. You always get access to
new features instantly. With cloud accounting
software, you have the option to run your business remotely
from anywhere in the world. When data’s fluid and accessible, the possibilities are endless. So, here are five ways
that cloud accounting can benefit your business. Firstly, you’re on top of the numbers. You have a clear, real-time overview of your financial position available on your phone or
tablet as well as your computer. Secondly, it saves lots of time. The software automatically
uploads your bank statements and matches invoices,
receipts, and payments. It’s easy to collaborate online
with your team of advisors. Lots of users can log in at the same time. It’s all online. You don’t have to instal it. You just log in, and everything
is backed up automatically. Upgrades and maintenance
are done automatically and in the background, and for free. There are no upfront fees. The software’s paid through
monthly subscription. So how can we help? Well, at MJF we’ve been
using cloud software for a few years now. A few years ago, we partnered with Xero, the world’s leading cloud
accountancy software. Back in February 2015, we actually became the first
Gold partner in Liverpool, something we’re actually really proud of. What this means to you though
is that we’re well-placed to advise you on the specific
benefits to your business, and, if you’re interested,
get you started. If you want to know
more, please get in touch using the details below. See you soon. (surging instrumental flourish)

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