We are calling on businesses to explore the power of cloud accounting and the technological edge it can offer.
Many businesses will already be using cloud accounting software as part of the requirements under Making Tax Digital for VAT, which came into force in April this year, but we believe that many may be underappreciating the benefits of the systems they are using.
Cloud accounting systems use servers to carefully store businesses information online so that it can be accessed by businesses and their advisers.
Systems linked to the cloud provide 24-hour access to a whole host of useful information and can be viewed anywhere in the world on any connected devices – even a smartphone.
Baldev Daheley, a Partner at the firm who specialises in cloud accounting, said: “We know from our own experience with clients and the businesses that we work with that many have wisely invested in cloud accounting software so that they can report their VAT affairs under the new digital tax system.
“But we firmly believe that many other businesses aren’t making full use of the software on offer. Online accounting is an extremely powerful business intelligence tool that allows users complete transparency on invoices, cashflow and their companies financial health.”
Baldev said that these snapshots could prove critical in financial decision making and could help businesses to plan ahead and spot the signs of business failure.
“The world is becoming more and more focused on technological advancement and it can be quite bewildering, but online accounting is one area that offers owners and shareholders a clear advantage if it is used effectively,” he added.
We are offering businesses of all sizes, whether they were required to register for Making Tax Digital or not, assistance with implementing and making full use of cloud accounting software so get in contact with us.