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Cloud accounting - the spreadsheets’ successor

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9 February 2018

Spreadsheets were designed for desktop computers and have been a staple of business life for decades. For every PC and laptop, it was a ‘must have’ application which has stood the test of time. It’s been THE financial management tool for businesses for years, often since before the business was launched, used for business plans and financial projections. So, it’s easy to see why business owners/managers have stuck with their tried and trusty friend and why they may be reluctant to leave them behind.

But time and technology do not stand still, this is a digital world of cloud based software and connected devices. The spreadsheet and PC based tools are being overtaken by these advances in technology. Spreadsheets are definitely not designed for small, mobile, touch screen devices.

So, what is there to consider?

COST 

Cloud accounting allows business owners to access accounting solutions via the internet. You simply pay as you go and enjoy a subscription-based solution that is kind to your cash flow and the environment too. When your cloud needs fluctuate, your server capacity scales up and down to fit, so you only use the energy you need.

FLEXIBILITY

One of the biggest advantages of switching from spreadsheets to cloud accounting is the flexibility to access data on the move. Long gone are the days where files are sat on a single computer. It allows small business owners to make quicker and better informed decisions based on real-time information. If you have access to the internet then you can be at work, wherever and whenever you choose. Users can get an instant snapshot of cash flow, capture expenses on the go, pay an outstanding supplier’s bill or send a customer invoice from wherever you may be and from any device you’ve got to hand – phone, tablet or computer.

SECURITY AND PEACE OF MIND 

For a small business owner, the cloud also offers a more secure way to store information especially compared with saving spreadsheets onto desktops and laptops. The servers are out of sight and are maintained by your cloud based solution provider. If you lose your laptop or it gets stolen, or your computer is infected by a virus, your data is not compromised, you simply switch to another device and it’s business as usual.

MAKING THE TRANSITION AND HOW WE CAN HELP

If you’re checking your bank balance from your phone, you’re already using the cloud. If you’re using social media, you’re in the cloud again. Most of us have been in the cloud for quite some time, possibly without realising, so you’re not a stranger to it after all.

The cloud is fast becoming the ‘norm’ and we are here to help you make the transition. The ability to access cloud accounting from any internet-connected device and any location will allow you, the business owner, to collaborate more effectively with us, your dedicated accountants and advisers.