What Is Cloud Accounting Software And How Can It Benefit My Business?
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Accounting. It’s the worst part of running any business, right?
By and large, entrepreneurs want to be spending their time brainstorming exciting ideas, setting up meetings and pushing out their brand image to the wider public. Number-crunching by night is, in comparison, pretty dull.
At least, that’s the general consensus. Accounting isn’t what it used to be thanks to the evolution of the cloud. Digitisation means that the days of spiking receipts and punching numbers into a calculator are long gone. All you need to do is embrace modern accounting systems. It’s easy – and it’s beneficial on multiple levels…
Cloud accounting software can be used anytime, anywhere. All you need are the log-in details and an internet connection.
Instead of retreating to the office to update your numbers, cloud accounting lets you run the financial side of your business on the go – logging receipts and adding figures there and then, even from your mobile phone.
This enables you to keep control of your cash flow and maintain complete visibility over your accounts.
It’d be nothing short of a disaster if your office suffered a break-in and crooks pinched financial documents from your desk. Not only would you have to scramble around looking for copies, you’d also have to deal with some very awkward questions from HMRC – who aren’t always the most sympathetic when numbers aren’t accounted for.
With good cloud accounting software, though, your data is stored in one place and is completely encrypted. Even if cybercriminals manage to evade your several lines of defence and get their hands on your accounts, they won’t be able to read them.
Accounting needs to be a secure process – and the cloud offers a way for you to protect data effectively.
The digital age is perpetually delivering brand-new types of software – and with cloud accounting, you never miss an update.
Instead of having to reinstall programmes or make adjustments yourself, you can enjoy automatic updates and therefore minimal business downtime.
So, if auto-enrolment procedures for pensions are altered or VAT rules are suddenly changed, you won’t need to worry. Cloud accounting software takes all of this into account (if you’ll pardon the pun) so the numbers still add up correctly.
You can also view your data in real time. As soon as anyone updates any numbers, the changes will be visible immediately.
This means your business accounts are permanently up to date by the second – offering a clear, accurate and current picture of them whenever you (or a member of your team) decide to load up your software and take a look.
Liquid are the market leaders in accounting software – offering a wide array of features that make bookkeeping a breeze and give you licence to focus on the more exciting aspects of your company.
Learn more about what Liquid can do on our Why Liquid page. If you have any questions, just get in touch! Our team are always happy to help.