The Cloud – comprising a multitude of flexible online resources accessible via any device with an internet connection – has transformed accounting for businesses. But why and how do cloud-based solutions differ from traditional accounting software?
Articles Tagged ‘Cloud Accounting’
Cloud accounting is perfectly safe and secure when used correctly and can lead to a world of possibilities for your business. That's why here at RWB we are Xero Gold partners, and the majority of our clients use cloud accounting services.
However, as well as using a reputable cloud partner, such as Xero, with their own solid internal security procedures. It is also up to the individual organisations to take extra steps to ensure their data security.
HMRC has announced significant changes to the Making Tax Digital (MTD) scheme, giving many businesses longer to implement the changes.
The new digitised tax scheme which was originally due to go live from April 2018 has now been delayed until 2020 at the earliest for all taxes other than VAT.
Industry magazine Accountancy Age recently published an article ‘Four reasons tech investment is critical for accountants’. It’s an interesting piece on the need for accountancy practices to embrace the digital age and offer clients the means to manage their affairs online.
Here at RWB we’ve understood for a long time that it isn’t just accountants who need to be considering a move online to achieve a competitive advantage.
In recent years we’ve invested significantly in developing our systems, training our team and partnering with Xero accounting software to become the largest independent Xero Champion in Nottinghamshire. The majority of our business clients are already using cloud-based accounting and enjoying the raft of benefits that come from adopting an online approach.
Not sure if online accounting is right for you?
Here are seven reasons why your business will benefit from cloud accounting:
Cloud accounting software allows you to perform all the functions of traditional accounting but with the convenience of instant access on multiple devices. This can be either on premise software or self-installed accounting packages. However, instead of being on site, the software itself is hosted on a remote server and users access software applications remotely through the Internet or other networks (mobile data) via a certified cloud application.
Data is sent into "the cloud," where it is processed, encrypted and returned to the user securely.
Using cloud accounting software alleviates the business from the pain of having to install and maintain software on individual desktop computers. It also allows employees in other departments, or branch offices wherever they may be, to access the same data and the same version of the software, and more importantly work on the move.