Cloud Accounting

Often called online accounting, cloud accounting has radically changed the bookkeeping process for businesses, both large and small. It can save an incredible amount of time, improve business reporting and provide real-time information on the financial health of your business.

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Why use cloud accounting?

From keeping business records to filing your tax return, there is a lot of accounting involved when running a business.  Bookkeeping may not be something that lights your candle but it is an essential part of ensuring you meet your financial obligations and keeping your business on track.

At the heart of any business are controls. Increases in your running costs may mean drawing your usual amount is having more of an impact on your bank balance at each month end. Without an effective accounting system in place how can you know exactly what is happening within your business and why.

As everyday life becomes more digital, managing your business and tax liabilities in this way is no different. Now is the time to consider how this method of working can transfer to your business.

What are the benefits of cloud accounting

  • Provides access to your accounts at any time from your computer or mobile with internet connection
  • Enables a robust and secure management accounting system for your bankers and the tax man
  • Financial information in real time so you can avoid unnecessary overdraft fees, interest and penalties
  • Allows you to easily identify where cost savings can be made
  • Lets you manage your cashflow for the year ahead to ensure all cash commitments can be met
  • You have the ability to trouble spot any financial concerns or weaknesses within the business
  • You can see if there is any leeway to, for example, set up a safe balance to cover short term emergencies
  • Should save you accountancy fees when your records are presented in a more manageable manner

Which cloud accounting software should I use?

Morris Crocker is a certified distributor and trainer of Xero and Quickbooks Online, two of the most commonly used accounting packages. Using a cloud-based system will help to improve your understanding and control of your business and ensure you comply with the approaching implementation of Making Tax Digital.

We can tailor either of these software packages to the specific needs of your business and make your bookkeeping process as straight-forward and efficient as possible whilst giving your access to your accounts at all times.

For the vast majority of users monthly prices start from as little as £17 exc VAT for Xero or QuickBooks Online.  These prices represent significant discounts over you sourcing the licences direct from the supplier.  We can also provide you with full training and tailoring to ensure your system is setup correctly from day one.

Outsource your online bookkeeping

If you are concerned about how you will manage keeping your records on an online system then our outsourcing service may be a more viable option. Visit our outsourced bookkeeping page.
For more information about our online accounting services please contact Martin Southern, Stuart Cann or James O’Leary. We can also arrange for you to view an online demonstration of both packages. For further information about online accounting visit our latest guide to digital record keeping.
Read our Online accounting case study

 

 

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"I have moved my last two GP practices over to Morris Crocker Accountants, and have been delighted with the level of knowledge, support and help that we have always received from their GP Team.  They have helped us most recently in a complex matter and have made sense of a very difficult couple of financial years for us.  The entire team are approachable, pro-active and endlessly patient and service is always delivered with a smile and a sense of humour!   I could not wish for better service.”

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