You Ask: Cloud Accounting
Cloud accounting; what is it and why should your business be using it?
Here you can find the answers to these questions along with suggestions of cloud accounting software to use, including Sage Cloud Accounting, Xero Accounts and Quickbooks online.
If you still have questions, or can’t find what you’re looking for contact us and we’ll be happy to help.
+ Cloud Accounting Software: The Basics
Cloud based accounting stores all of your financial information online, in the cloud, rather than on your computer’s hard drive. This means that it can be accessed from anywhere, all you need is a log in.
Cloud accounting software encrypts all of your data for added security.
There are many benefits to managing your accounts through a cloud accounting service such as Sage, Xero or Quickbooks.
Some of these benefits include:
- giving you more control over your business
- world-class security
- compliance with MTD, GDPR and VAT updates
Find more about digital finance systems on the blog
+ Sage Cloud Accounting
Sage Cloud Accounting is a cloud-based accounting and invoice management solution for small businesses. It offers core accounting, project accounting, expense management and compliance management within a suite.
There are many benefits to using cloud accounting packages including:
- improved efficiency
- going paperless and automatic backups to your system
Sage Cloud Accounting is purposefully created for small businesses and can be accessed from anywhere
Sage Cloud Accounting is perfect for start-ups and small businesses. You can access Sage Cloud Accounting from the web app ro moble application on either iPhone, iPad or Android. Whilst Sage 500 can only be accessed from your desktop.
There are many benefits to using cloud accounting such as Xero. It enables you to support more clients in less time through automation, lets you create financial reports in real-time, is regularly backed up and can even be integrated with your job management system.
+ Quickbooks Online
The main difference between using the online and desktop versions is that the online version can be accessed anywhere that you have an internet connection whereas the desktop program can only be used on the computer or computers where it’s installed.
Another big difference between the two is price. To use Quickbooks Online you will need to pay a monthly subscription whilst the desktop program only requires a one-off upfront cost.
There are 3 pricing plans available with Quickbooks Online for small businesses and VAT registered companies. Additionally there is a 4th plan that is purposefully built for freelancers and independent contractors.
The plan that you choose will depend on how well established your business is and is based on a 6 month subscription
Users are able to access, view and manage their business’ online financial requirements including billing and invoicing. Through Quickbooks Online, they can track and manage their inventory as well as having full access to the support team.
“The Online Fast Track course for Servicem8 covers the desktop setup, which allows people to use the trial time as best as possible to ensure they get the best out of it.” “
Lisa Knaggs Hunter, Software Buddy Founder