WatkinsonBlack advocate the use of ‘cloud accounting’ we endorse this by using Kashflow.
What do we mean by ‘cloud’?
‘Cloud’ is an area of the internet where relevant data can be accessed online anytime, anywhere, from any internet connected device meaning small business owners can stay connected to their data and to their accountants. The software can combine with a whole economic system and it is measurably cost-effective and simple to use.
To make your business accounting more effective and efficient, cloud accounting software is a sensible choice. Providing inputs are kept up to date there will be a better day to day overview of the financial position of the business including bank balance(s), debtors (people who owe you money) creditors (people you owe money to), and certain other liabilities including VAT .
There is no longer a need to install and run on a desktop computer. Instead it is all done for you and all you have to do to subscribe is pay a monthly subscription. It is one of the most secure ways to store information e.g. if your laptop is stolen, no one can access your data unless they have your login and password details to your online account.
In the event of a fire etc, data held in the cloud means business output need not be affected, all the information is safely and securely stored off site. As long as you have access to a computer or a device connected to the internet, you can be back up and running directly.
Cloud software companies certify security and privacy of data is always airtight.
Problems with non cloud accounting packages.
- It is not always possible to keep the system up-to-date
- It will only work on one computer and may also be stored on a USB drive, however, this source is not secure or reliable.
- Normally only one person has access which means key people cannot always readily obtain pertinent information
- It can be time consuming and expensive to upgrade the software and to keep data backed up
- Customer support services can be expensive and slow.
Please contact us to find out what professional advice we can provide to you.