Cloud Accounting
It is no longer possible to ignore cloud accounting. In March 2017 HMRC confirmed it will be going ahead with Making Tax Digital from April 2019. This essentially means that all individuals and businesses need to face the reality of a new reporting process. Making Tax Digital will use cloud software to submit quarterly information to HMRC, which will mean all businesses will need to have their bookkeeping records on a cloud accounting package.
What is cloud accounting?
With cloud accounting, you access and update your accounts online – using an internet browser rather than software installed on your computer.
It brings a whole host of benefits – not least the fact that you can access your accounts when you’re away from your computer. Just log in via a tablet, or even your phone, and you’ll find real-time business finances at your fingertips, wherever you are in the world.
Working in the cloud, you can raise invoices, track expenses and manage your cashflow more efficiently. You can sync accounts to automatically import bank statements, you can make and receive payments instantly. It’s the slicker, quicker way to deal with your business accounts.
Cloud software allows multiple users to have varying levels of permissions whilst also providing a secure and accurate way to manage your business’s finances.
As well as providing the ability to submit MTD information, Cloud Accounting will save you money, and enable us at Newsham Hanson to work with you throughout the year on your figures. Clients who have already moved their Accounts into the Cloud have found it has saved them money; and by working more closely with us, their Accountants, we ensured they are more efficient and profitable.
Contact our team to book a free consultation and to sign up for a free cloud accounting trial.
THE FUTURE LOOKS BETTER THANKS TO NEWSHAM HANSON.
