Cloud Accounting – 8 benefits that will help you
Thinking about cloud accounting? Here are 8 benefits that will soon save you time and money if you ask your accountant to set up cloud accounting for you;
- Send invoices to your customer by email.
Why use word? Send invoices directly from your cloud accounting software to save stationery and postage. This will help your customer if they also use cloud software.
You can include a bank payment link to encourage faster payment and help reduce money owed to you.
Invoices are automatically saved in your software saving you time entering these into your records.
2. Scan bills with your smartphone and let technology do the rest. With simple set up you can automate regular supplier invoices to go to the correct analysis code for reliable reporting.
3. Set up your cloud accounting to import transactions straight from your bank. This removes the necessity to keep a separate cash book to record your in’s and out’s. Checking the balance to see if it matches with your bank reduces the possibility of error, omission and duplication.
4. Pay suppliers directly from your smartphone or pc.
5. Ask your accountant to do some of the checking for you and keep the tax man happy. This is a great opportunity for him to let you know how you are doing so you do not get any nasty tax surprises!
6. Connect your cloud accounting to HMRC’s gateway and file your MTD VAT returns automatically.
7. See who owes you and and who you owe. Anytime anywhere (with an internet connection). No more phoning the office dogsbody to find out!
8. No more filing and no more filling attics full of old papers. Electronic copies are all that’s required.
And finally; no backups required and no worries if your pc has a major problem. It’s all in the cloud!