Cloud Accounting – The Journey
Current Issues | Owner-managed businesses | 26th April 2017
“Excel is great, I’ve used it for as long as I can remember.”
“My bespoke sales invoice template in word has everything I need.”
“Sage on my desktop lets me run all the reports to help manage my businesses.”
When asked about moving to the cloud, clients have continuously been stating the above and they are not wrong; a lot of the software available on the desktop are competent, well-known and get the job done. But, what if you could have all of this and more?
A client I was working with recently was questioning whether the burden of bookkeeping would really be lifted by moving to the cloud. I thought it would be useful to share their initial questions and my responses:
Can I login from a different computer each time?
The cloud can be accessed from any mobile, tablet or desktop device. Once my client had moved to the cloud, they no longer had to set aside day each week to go into the office and handle the bookkeeping. They could handle and keep an eye on their business anywhere at any time.
I download bank statements and print off copies to annotate, how will I get my bank transactions into the cloud?
You’ll be pleased to hear that this rather tedious process is no more. The cloud enables live bank feeds (linked directly to your bank provider) which updates the bank transactions every time you log in. Plus think of all that paper you’re saving!
Every year I take my receipts and bank statements to my accountant for them to process my year-end accounts. It works for both of us - why change?
As most companies now email invoices, why print these off to give to your accountant? The cloud has a simple ‘drag and drop’ function, so in a simple click the invoice can be dragged into the cloud and attached to the associated transaction. Paper files are no more and as Companies House and HMRC encourage this form of record holding why not change? It will significantly help improve the efficiency of your day-to-day bookkeeping meaning that you can focus on the more important aspects of your business.
What about the bespoke sales template I have in word?
This can be simply copied over into the cloud’s invoice templates. Just type in the sales information and the invoice will be generated there and then. This can then be emailed direct to the customer. Entering the information of the invoice also posts the data into the relevant nominal account. Invoice creating and posting becomes one easy task.
When asked if my client would go back to the old-fashioned way of bookkeeping her answer in plain and simple terms was “No!” If you’re interested in learning more about what cloud accounting is, how to get started and to request a quote, visit www.shipleys.com/services/cloud-solutions or contact me at VanrossH@shipleys.com.