In the first instalment of our two-part series, UWM’s team of experienced Cloud accountants have answered some of your FAQs surrounding Cloud accounting.
From common myths and misconceptions to the inside scoop on how to get started, you’ll find a wealth of information on a wide range of Cloud accounting topics.
The future is now
Barely ten years ago, never mind twenty, if you’d mentioned that a mobile phone camera would become a fundamental element of your bookkeeping workflow, most people would have thought you rather odd. And this increasingly commonplace notion of interconnecting people, devices, apps and business software all together in the Cloud is fast becoming the new normal for hundreds of thousands of businesses in the UK.
However, as alluring all this wonder may seem we still need to take care to plot the correct course to this new world, to manage the change and to prepare and train our people.
Gary Turner, Managing Director, Xero UK.
What is the Cloud and should I switch to it?
If you’re not already using Cloud technology to make your bookkeeping and day-to-day business activities faster (and far easier), you may be wondering what all the fuss is about. Why, you may be thinking, is Excel no longer good enough? Why should I change the way I tackle invoicing, billing and general paperwork?
The answer is simple: efficiency. The Cloud helps businesses work faster and smarter. Using the Cloud makes things far easier, faster, more secure and more flexible.
Work on a beach in Bali
Essentially, the Cloud is internet-based storage and technology. Because it doesn’t exist on any one computer, content and data are easily accessible from any location with an internet connection. That means you can be on a beach in Bali and still have access to your data and important files.
What are the key benefits of Cloud accounting?
The Cloud makes work far more efficient and effective by allowing users the freedom and flexibility to work from virtually anywhere. This doesn’t just mean taking work home after a long day in the office. From client meetings to stolen desktops and last-minute order changes, the Cloud can help you increase performance across a wide range of common business interactions and problems.
There are thousands of third-party software apps available for download and use too. From stock reporting to invoicing and detailed finance reporting and forecasting, there’s a handy tool for you that’s connected and available for use with your Cloud accounting software.
Cloud accounting myths exposed
Did you enjoy this post? Don’t forget to read A Beginner’s Guide to Cloud Accounting: Part Two. We’ll explore some of the most common Cloud accounting myths and explain why data in the Cloud can be even more secure than office-secured data.
UWM Accountants offer a range of Cloud accounting services that utilise Xero, an award-winning Cloud accounting software that combines smart small business payroll software with your online accounting. Change the way you do payroll, get in touch today.
