Cloud accounting – where East meets West and all points in between

East meets West in the world of Cloud Accounting!

Within the space of 24 hours I took two new-business calls from people running UK companies looking for help and an easier life with their companies’ accounting.

One was calling from Singapore. One was calling from Costa Rica.

The conversation was the same with both of them and it’s no different if you’re running your own company in London or anywhere else.

Your cloud accounting foundation

Both MDs run UK companies, work in project management, go where the next project takes them and don’t want to be burdened with unnecessary administration. Both were delighted with my proposed cloud accounting solution:

1. Set up a cloud accounting file using one of the leading systems such as QuickBooks or Xero
2. Link the accounting file to the company’s bank accounts
3. Use AutoEntry or ReceiptBank to capture suppliers’ invoices and out-of-pocket receipts
4. Set up a sales invoice template so that the company can raise, send and account for its own sales invoices in real time
5. Set up customised financial reports so those who need up to date financial information can access it and act on it
6. Hold Skype calls, using screen-share, between accountant and MD to make sure all things financial are in good shape

They both saw this six-point plan as being the solution they were looking for because it adds real value to their companies and adds real value and peace of mind to their lives – their workflow became more efficient and less time consuming.

Use cloud accounting to make bookkeeping digital

Closer to home, there’s no reason why any business shouldn’t be taking advantage of cloud accounting technology and some of the add-ons and apps that link with it.

Since we started out we’ve been heavily in favour of businesses using accounting software rather than, say, spreadsheets or a carrier bag to manage their financial data. Here’s why:

So, if you’ve been wondering what the fuss is about with cloud accounting or, as happens, you’ve invested in it but you don’t feel it’s working for you so far, why not give us a call to see if we can help?

Visit our dedicated cloud accounting service page to learn more about how we can work together.

And since you could be anywhere from Singapore to Costa Rica the number is +44 20 7125 0270

Michael
@diaryofanomb
Sales | Margins | Profit | Cashflow

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