03 Oct Here’s a quick solution to your accounting crisis
Accounting is an indispensable part of business. It is the source of critical information such as performance records, financial positions and cash flows. With this data, enterprises have an easier time making decisions on how to get ahead of their completion. But for small and medium businesses, running a fully-fledged accounts department can weigh heavily on the balance sheet.
However, there is a solution.
Cloud accounting is an ingenious idea aimed at streamlining the accounting process. It removes the manual, repetitive and costly aspects of running an in-house accounting department. And if that sounds exciting, you are in good company.
First things first: what is cloud computing?
As the name suggests, cloud computing is sharing IT resources such as servers and applications. It is controlled and maintained by a cloud computing provider. And to cut a long story short, this innovative tech has revolutionised the entire workspace by enabling companies to accommodate more clients, add value to their services, and diversify.
Get a 360-degree view of your business
With cloud-based accounting, team members access financial information from anywhere using any device with an internet connection. Any changes, from clients or team members, reflect on the system almost immediately. And that reduces time spent in going back to client files. So you can focus on predictions and development.
The best part is, you don’t have to worry about technical IT stuff such as security patches, hardware maintenance, and upgrades. The service provider has got you covered.
For as little as £10, you can get a simple accounting solution for your business. Of course, some plans come with a slightly higher price-tag, but it is nothing compared to having an in-house accounting team.
The other great thing about cloud-based financial services is that you can change between plans conveniently.
Let’s face it, many business owners dread tax returns. It is a complicated process that takes up most of your valuable time. And it gets worse if the accounting system is not automated.
With cloud computing, companies can effectively gather all the data they need almost effortlessly. A financial advisor can access records, with your permission, and take what they need without taking up much of your time. That way, they can prepare early and avoid the last minute rush.
What’s more, cloud accounting reduces the need for a financial audit. But if it’s required, you will have accurate business records at your disposal.
That said, SQK Accountancy specialises in cloud computing, VAT and payroll services. We have been making a difference and meeting expectations for numerous businesses, such as yourself. So feel free to put us to the test today.